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Einführung
The investing app market is heaving – like many things that start “trending” in our modern digital world.
Now, you can buy and sell stocks and cryptos and other assets from your mobile phone. It’s like you can have your very own trading floor, right there in your pocket!
But as someone new to investing, how can you tell which is the best app to use?
Here we are going to examine the investing apps we consider to be the best, based on the experiences our traders and coaches have had using them.
With each app listed, we take into account:
- Handelskosten und Gebühren
- Handelstools und Forschung
- Anlageklassen und Anlageprodukte
- Kundendienst und Kontounterstützung
- Sicherheit und Schutz
- Benutzerfreundlichkeit
- Sind sie reguliert?
The only thing we emphasise – you must research the platforms you like the look of as thoroughly as possible as there is much to consider.
The Best Investing Apps for Beginners
The following list is in no particular order of merit or preference. These are simply the apps and platforms our coaches have some experience of using.
Degiro (Netherlands)
Degiro was founded in 2008 and now has more than 2 million clients. Their fees are pretty low compared to others, so they attract investors watching their budgets. But it’s important to note – fees depend on the asset and market.
On the tools and research front, Degiro keeps it simple. Maybe too simple if you’re looking for more advanced analytics. There are other platforms with a lot more robust features.
In terms of what you can trade, Degiro gives you decent access – stocks, options, ETFs, bonds and more.
When it comes to customer service though, experiences vary. Some users say Degiro can be slow to respond or hard to get a hold of. Not ideal if you need account support. We, however, haven’t had any particular problem when using it.
On the plus side, they do provide protection through the Investor Compensation Scheme up to 20k euros if something goes wrong. That’s reassuring.
The interface is generally easy to use for beginners. But some may find it’s not as slick or polished as other trading apps out there.
But it’s good to know Degiro is regulated by Dutch financial authorities.
Overall, Degiro can be a solid choice if you want low fees and don’t need a ton of tools or hand-holding.
eToro (Israel)
This trading platform started in Israel in 2007 and is now making waves worldwide. It has more than 20 million users.
eToro’s claim to fame is offering commission-free stock trading. That’s always something we look out for. You’ll still pay certain fees through spreads or overnight charges, but zero commission is awesome.
eToro’s specialty is social trading, which lets you follow and copy successful investors. Which is great for beginners. But for serious research tools, eToro only offers the basics.
In terms of assets, you get a solid variety – stocks, crypto, ETFs, commodities and more. So eToro opens up a range of investment options.
When it comes to customer service, eToro can be a bit like that unpredictable friend. Sometimes they’re super helpful and responsive. Other times, not so.
For protections, eToro provides the standard securities coverage required in the regions they operate. But this can vary depending on where you are.
On the plus side, it has a simple, user-friendly interface and the social trading features make eToro really appealing for beginner investors.
The company is regulated by financial authorities in the different areas they have a presence. So that’s reassuring as well.
Overall, eToro is a top contender if you want commission-free trading and social investing options.
IG (UK)
This UK-based trading platform has quite the fan base. It was founded in 1974 under the name IG Index and is now a leading provider of online trading and investments internationally.
IG does charge account fees, but it offers different structures depending on your account type and assets. Some markets could even be commission-free – so it’s well worth exploring your options.
Where IG really shines is providing advanced trading tools, robust research, and an in-depth platform. But beginners need to take it slow getting used to all the features.
You get access to a solid range of assets too – stocks, indices, commodities, crypto and more. So, there are lots to choose from.
Users rave about IG’s customer service and support. From our experience, they really take care of their customers.
For protection, IG offers coverage through the Financial Services Compensation Scheme, if you’re eligible.
The platform can feel complex for beginners given all the powerful tools. However, experienced traders love IG for the data and analysis it provides.
The company is regulated by various financial bodies depending on where they operate. This of course is an important thing to consider.
Overall, IG is a top choice for active traders who want an advanced platform. Just be prepared for a learning curve if you’re new to investing.
Robinhood (California)
Founded in 2013, Robinhood has over 22 million users and is continuing to innovate and expand its trading products and services. This trading app has exploded in popularity lately.
That may be because Robinhood is all about commission-free trading on stocks, options and crypto. Which is music to any investor’s ears. You do pay certain other fees though, so be aware.
The app keeps things simple with basic trading tools and limited research.
Asset selection is focused on stocks, ETFs, options and cryptocurrencies. Certainly a nice variety for beginners.
When it comes to customer service, experiences vary widely. Some users report long wait times and delayed responses. But we personally haven’t had any issues.
For security, Robinhood provides SIPC protection up to $500k, plus additional insurance. So they’ve got you covered.
Where Robinhood really shines is user experience. The app is super-slick and easy for investing newbies.
And yes, they are regulated by the SEC and FINRA.
Overall, Robinhood is ideal if you want a streamlined app for commission-free trading.
E*TRADE (US)
This veteran trading platform has been around for donkey’s years. It was acquired by financial giants Morgan Stanley in 2020. That fact alone could provide a lot of reassurance for beginner investors.
E*TRADE offers commission-free trading on stocks, options and ETFs. However, you may encounter specific fees here and there.
In terms of tools and research, E*TRADE provides a solid range to help guide your trading. And their platform is pretty user-friendly overall.
You get access to a good variety of assets too – stocks, options, ETFs, mutual funds and bonds. A little something for everyone.
When it comes to customer service, it can be a bit hit or miss with E*TRADE. Some days they deliver, other days maybe not.
On the security front, they’ve got you covered with SIPC protection and additional insurance, which is definitely reassuring.
The E*TRADE platform works well for both beginner investors and seasoned trading vets. They cater to different experience levels nicely.
And yes, they are regulated by the SEC and FINRA, as one would expect.
Overall, E*TRADE is a solid, reputable choice if you want commission-free trading and decent tools. For an all-round platform, E*TRADE checks a lot of boxes!
Interactive Brokers (US)
Founded in 1977, this trading platform is like the financial whiz kid of our selection.
Their pricing is competitive with tiered fee structures based on your trading activity and assets. So active traders can seriously benefit.
You get a huge range of advanced tools, research, and data analysis too. But this may be a bit much for investing newbies to handle.
In terms of assets, Interactive Brokers offers access to stocks, options, futures, forex, bonds, mutual funds – pretty much everything! So a massive selection here.
It seems to a bit of trend this, but customer service with Interactive Brokers can be erratic. Some users report good experiences while others face delays. Not that we have noticed anything particularly clunky.
Security-wise, they check all the boxes – two-factor authentication, account insurance, the works. Top-notch on that front.
The platform itself has a ton of intricate features, so beginners often feel overwhelmed. But experienced investors love all that power!
And yes, Interactive Brokers is regulated in the regions they operate.
The bottom line: Interactive Brokers is a premier choice for active traders who want robust tools and pricing. Just know the complexity can be a hurdle for newbies.
Extra Apps To Consider
The apps mentioned above are all ones we have experience with here at Investment Mastery. On the whole, we have found them to be good at delivering what we need.
Apart from Interactive Brokers, the platforms listed should all be suitable for beginners. But it is important for you to be sure it works for you.
Here are some more you might want to check out. The one thing you will find with any App is that they all have their own set of features. They might be attractive to you, or not.
As we always like to emphasise to any investor – but particularly new ones – you absolutely must take your time when choosing assets and tools:
- Plum
- Nutmeg
- Moneybox
- Wealthify
- Dodl
- Freetrade
- Moneyfarm
- Handel 212
- Wombat
To Recap
As a beginner, there are some basic questions to keep in mind when researching investing apps. Such as:
- Does the app allow you to buy and sell the asset you want to focus on? (Remembering of course, the need to diversify your portfolio).
- Does the app allow you to set up a demo account for you to practice buying and selling assets?
- What other fees might be involved?
- Is there a minimum investment amount?
- How user-friendly does the app appear?
- Is your app regulated by the UK’s Financial Conduct Authority (FCA)?
Abschluss
As we mentioned at the start of this article, the digital world is always fast-moving. New developments are happening all the time.
The same applies to the investing app market and platforms available.
Therefore, our experiences are exactly that – ours. Yours might be completely different if using the same apps we do.
Thorough research is therefore imperative.
And the information you access must-be up-to-date.
At the very least, the information we have provided here will give you a good grounding in your search for the best beginner investing app.
We wish you well in your search!
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