Choosing Your First Investment Platform: A Comprehensive Breakdown of Top Apps for New Investors [2023]

Ready to grow your wealth but unsure where to start? Selecting the right investment platform is crucial—but the landscape of options can feel overwhelming. The good news: modern investment apps have made entering the market more accessible than ever, whether you’re interested in stocks, funds, cryptocurrencies, or alternative assets.

Understanding What Beginners Really Need

New investors come with different goals and comfort levels. Some prefer hands-off automation where algorithms handle portfolio management. Others want full control to research and execute trades themselves. And many seek a middle ground—guidance paired with flexibility. This diversity means no single “best” platform exists; instead, the ideal choice depends on your specific situation.

When evaluating investment platforms, consider these dimensions: the breadth of assets available (stocks, bonds, crypto, alternatives), user interface simplicity, automated features, educational support, fee structure, and special bonuses.

The Accessibility Revolution: Fractional Shares and Low Minimums

One game-changing development in recent years has been fractional share investing. Previously, expensive stocks like Berkshire Hathaway (trading at hundreds of thousands of dollars per share) were out of reach for average people. Today, most leading platforms let you invest with as little as $1 by purchasing portions of shares. This “dollar-based investing” approach means you’re never priced out—whether you have $10, $100, or $1,000 to deploy.

Similarly, most modern investment apps eliminated account minimums and commission fees entirely, fundamentally shifting the barrier to entry.

Commission-Free Trading: The New Standard

It’s worth noting that zero-commission trading across stocks and ETFs is now table stakes. Nearly every platform reviewed here offers this at no cost. Some distinguish themselves by extending commission-free benefits to mutual funds or offering lower fees on options contracts (ranging from $0.50 to $0.65 per contract at most platforms).

Top Platforms for Beginners: A Detailed Review

Plynk: Investing Without Jargon

Plynk has carved out a niche by prioritizing simplicity and financial literacy. The platform uses plain language to explain investing concepts—no confusing terminology required. With as little as $1, you can trade stocks, funds, and cryptocurrencies commission-free.

The “Explore” feature stands out by helping you identify investments matching your comfort level through a simple questionnaire. For those building discipline, recurring investments enable dollar-cost averaging—automatically buying fixed dollar amounts regardless of market conditions, which smooths out volatility stress.

A unique perk: gift card redemption. Convert unused gift cards into cash to purchase stocks in companies you follow. Currently, Plynk is offering $10 for account signup plus up to $75 in deposit matching (with a $25 minimum net deposit through December 14, 2023).

Platforms: Mobile (iOS, Android) Fees: Commission-free trades Bonus: Up to $85 in signup incentives

Robinhood: From Disruptor to Full-Service Broker

Robinhood sparked the commission-free revolution in 2013 and has evolved significantly since. Beyond its core brokerage, Robinhood now offers retirement accounts with a distinctive matching feature: the platform matches 1% of IRA contributions (or 3% with Robinhood Gold at $5/month), with matches not counting toward your contribution limit.

The app remains visually intuitive, targeting younger investors through a gamified interface. Advanced features like Options Strategy Builder help you construct trades based on market expectations. For those wanting hands-off management, Portfolio Builder creates a customized ETF portfolio automatically.

Robinhood Crypto enables 24/7 trading in around 20 digital assets, though spreads apply. Extended-hours trading (8am-8pm EST) and stock lending for interest income round out the offering. For those comfortable with margin, Robinhood Gold subscribers get enhanced features and higher rates.

Platforms: Web, iOS, Android Fees: $0 commission on stocks/ETFs/options; Robinhood Gold adds $5/month Bonus: Free stock ($5-$200 value) with signup and linked bank account

Public.com: Traditional Assets Plus Alternatives

Public.com stands out by offering exposure to assets most beginner platforms ignore: alternative investments like art and collectibles alongside stocks, ETFs, and 25+ cryptocurrencies. This diversification appeal is strong, though the platform doesn’t yet offer mutual funds, options, bonds, or futures.

The “Town Hall” feature connects you with corporate founders and executives for live discussions—adding an educational and social dimension. For research, Premium subscribers ($10/month) get Morningstar institutional-grade analysis, extended trading hours (8-9:30am, 4-8pm EST), and price alerts.

New users receive free fractional shares, while account transfers trigger bonuses up to $10,000 (typical payouts: $150 for $5k-$25k transfers, $250 for $25k-$100k).

Platforms: Web, iOS, Android Fees: Commission-free; Premium at $10/month Bonus: Free stock or cash based on transferred funds

SoFi Invest: Personal Finance Integration

SoFi operates as a financial ecosystem, and SoFi Invest is its trading hub. What distinguishes it is seamless integration—you can manage banking, loans, insurance, and investments through one interface. The investing app itself remains beginner-friendly with no minimums and commission-free trades on stocks, ETFs, and options.

Fractional shares start at $1. The robo-advisory service builds and rebalances portfolios at no charge. Crypto trading (24/7) carries a 1.25% markup but no commission. The overall experience prioritizes simplicity over advanced tools, making it ideal if you value convenience and ecosystem consolidation.

Platforms: Web, iOS, Android Fees: Commission-free; crypto at 1.25% markup Bonus: Free stock ($5-$1,000) with $10 deposit

Fidelity Youth Account: Investing Education for Teens

Fidelity Youth represents a focused solution for parents and teens. Teens (13-17) can invest in stocks, ETFs, and Fidelity mutual funds starting at $1. The associated debit card carries no subscription fees, no minimums, and covers ATM fees nationwide—plus integrates with Apple Pay, Google Pay, and Samsung Pay.

The Learn tab includes interactive lessons, videos, and calculators designed specifically for teens. Completing lesson levels deposits reward dollars directly into the account. Parents maintain full monitoring access through online statements, trade confirmations, and customizable alerts.

Platforms: Web, iOS, Android (account requires parent/guardian brokerage account with Fidelity) Fees: Commission-free trades; no account fees Bonus: $50 for teens; $100 for parents funding new accounts

Betterment: Automated Wealth Building With Tax Optimization

Betterment’s entire philosophy centers on removing decision fatigue through pre-built ETF portfolios targeting different goals (Core portfolios with 60% stocks/40% bonds, Social Impact portfolios, etc.). You cannot trade individual stocks or bonds—only invest through Betterment’s curated portfolios.

The signature feature is Tax Loss Harvesting+, which automatically identifies losing positions, sells them to offset gains, and reinvests proceeds strategically—a task that would otherwise require constant manual attention. This automation particularly benefits taxable account investors.

Betterment operates on subscription pricing: $4/month, or 0.25% annually (if you maintain $20,000+ or set up $250+ monthly deposits). The service has expanded to include cryptocurrency portfolio options.

Platforms: Web, iOS, Android Fees: $4/month or 0.25% AUM (with qualifying balance/deposits) Bonus: None listed

Firstrade: A Sleeper for Comprehensive Coverage

While less famous than Robinhood, Firstrade deserves recognition for exceptionally low fees. Beyond zero-commission stock and ETF trades, it uniquely offers free trading on mutual funds (load, no-load, and no-transaction-fee varieties)—a rarity that appeals to both novices and active traders.

Options incur no contract fees or assignment fees, another competitive edge. Crypto trading covers roughly 40 digital currencies commission-free (with 1% spread), surpassing many beginner platforms. The mobile apps for iOS and Android include Face ID login, real-time quotes, and charting.

Educational resources span investment primers, explainer videos, and a comprehensive A-to-Z glossary. New accounts qualify for deposit-based bonuses up to $4,000 (common amounts: $50 for $5k deposits, $100 for $10k, $300 for $25k).

Platforms: Web, iOS, Android Fees: Commission-free on stocks/ETFs/mutual funds/crypto; $0.65 per options contract Bonus: Up to $4,000 cash bonus based on deposit size

M1 Finance: Customizable Passive Investing

M1 Finance occupies the hybrid space between passive robo-advising and active management. You build “Pies” (visual portfolio allocations) where each holding represents a slice with a specific percentage target. Fund your account, and M1 automatically invests to match your targets, rebalancing as needed.

Alternatively, access Expert Pies—professionally curated portfolios—or blend expert and custom selections. The platform supports fractional shares, enabling precise portfolio construction.

One tradeoff: M1 processes trades once daily (9:30am EST when markets open) rather than throughout the day. For buy-and-hold beginners, this prevents panic-selling and aligns with long-term thinking. Day traders would find this limiting.

M1 Plus ($10/month or $95/year) adds features like 24/7 crypto trading (limited to 10 monthly trades), margin loans, and custodial account access.

Platforms: Web, iOS, Android Fees: Commission-free; M1 Plus at $10/month or $95/year Bonus: None

Acorns: Passive Investing With Behavioral Nudges

Acorns introduced the “Round-Ups” concept to mainstream investing: purchases on linked cards automatically round up to the nearest dollar, with the difference invested. A $2.60 coffee purchase becomes a $3.00 transaction, investing $0.40 on your behalf.

Investment offerings remain simple—pre-built ETF portfolios covering stocks and bonds. This simplicity suits beginners; intermediate investors may find limited customization. Subscription tiers include Acorns Personal ($3/month), Personal Plus ($5/month with live education), and Premium ($9/month with custodial investing and life insurance).

Round-Ups must accumulate to $5 before investing, creating a micro-investing flow that appeals to behavioral finance principles.

Platforms: Web, iOS, Android Fees: $3-$9/month depending on tier Bonus: $10 for first $5+ investment

E*Trade: Bridging Beginner and Intermediate Needs

ETrade offers dual platforms: a streamlined main interface for beginners-to-intermediates, and Power ETrade (web and app) for advanced traders. The basic platform includes real-time quotes, charts, market commentary, and free research from Thomson Reuters and TipRanks.

Tools include stock/ETF/mutual fund/bond screeners, trade optimizers, and backtesting capabilities. Commission-free trades apply to stocks, ETFs, and mutual funds; options cost $0.50-$0.65 per contract.

For passive investors, Core Portfolios automates management (0.30% fee annually) for accounts starting at $500. Comprehensive educational resources include articles, videos, webinars, and live events.

Platforms: Web, iOS, Android Fees: Commission-free equity trades; $0.50-$0.65 per options contract; Core Portfolios at 0.30% annually Bonus: Up to $5,250 based on deposit size

TD Ameritrade / Schwab: Established Solutions for All Levels

TD Ameritrade remains accessible for investors across experience levels, though critical changes are underway. Schwab acquired TD Ameritrade in 2020, with full account migration to Schwab’s platform occurring through 2023. This transition brings both opportunities and adjustments for existing and new users.

TD’s standout feature is Thinkorswim—an advanced platform available across desktop, web, and mobile that appeals to professionals and serious traders. Schwab will maintain both Thinkorswim and its own StreetSmart Edge platform post-merger, allowing broader appeal.

Both platforms charge zero commissions on stocks and ETFs, $0.65 per options contract, and $2.25 per futures contract. Both offer robo-advisory services and 24/7 support. Schwab will provide access to 20,000+ no-load mutual funds versus TD’s 3,600+, and earlier international exchange access—modest advantages for most beginners but meaningful for active investors.

Platforms: Desktop (Windows, macOS, Linux), Web, iOS, Android Fees: Commission-free equity/ETF trades; $0.65 per options contract Bonus: Up to $5,250 based on deposit size

J.P. Morgan Self-Directed Investing: Banking-Integrated Platform

Chase’s self-directed investing platform offers unlimited commission-free trades across thousands of investments: stocks, ETFs, fixed income, mutual funds, and options. Accessible through the Chase Mobile app or Chase.com, it integrates seamlessly for existing Chase customers.

Tools include screeners, watchlists, and personalized news feeds powered by J.P. Morgan research. Portfolio allocation design is self-directed with no advisory fees beyond potential fund expenses. Account options include taxable, Traditional IRA, and Roth IRA accounts (all $0 minimum).

New account promotions offer up to $700: $50 for $5k-$25k deposits, $150 for $25k-$100k, $325 for $100k-$250k, $700 for $250k+.

Platforms: Web, iOS, Android (Chase Mobile) Fees: Commission-free equity/options trades; possible fund expenses Bonus: Up to $700 based on deposit size

Stash: Holistic Personal Finance Platform

Stash functions as more than just an investing app—it’s a personal finance ecosystem including investment accounts and online banking. Self-directed investors buy stocks and ETFs commission-free; pre-built portfolios enable hands-off investing with automatic rebalancing.

The Stock-Back Card is innovative, rewarding percentages of purchases (varying by subscription) directly into stock holdings. Two subscription tiers exist: Stash Growth ($3/month) and Stash+ ($9/month, with kids’ portfolios and enhanced rewards).

Platforms: Web, iOS, Android Fees: Growth at $3/month or Stash+ at $9/month; crypto trading varies by plan Bonus: $5 after $5+ deposit

Key Considerations for Your Decision

Asset Diversity: Apps range from pure-stock platforms to those offering crypto, alternatives, and bonds. Determine what investment types align with your strategy before choosing.

Fee Structures: While commission-free trading is standard, watch for account fees ($3-$10/month), options contract fees ($0.50-$0.65), margin charges, and fund expense ratios. For small investors, monthly fees compound—prioritize $0 minimums and no-fee tiers.

Automation vs. Control: Robo-advisors (Betterment, M1 Finance, Acorns) suit hands-off investors. Self-directed platforms (Robinhood, Firstrade, Public.com) appeal to active researchers. Hybrid platforms (M1 Finance, Stash) offer both.

Educational Resources: Beginners benefit from platforms emphasizing content—Plynk, Robinhood, and Fidelity Youth stand out here. Others provide solid but less extensive learning materials.

Bonus Incentives: Welcome bonuses range from $5 to $700+. For small opening deposits ($500-$5,000), common bonuses are $25-$150. These matter more for small investors because they represent meaningful percentage gains.

Conclusion: The Competitive Landscape

The investment app market remains fiercely competitive, with platforms emphasizing different strengths. Whether you prioritize education (Plynk, Fidelity Youth), tax optimization (Betterment), integration (SoFi, Stash), or comprehensive tools (Firstrade), viable options exist.

Begin by identifying which features matter most to your situation. Will you invest passively or actively trade? Do you need investment diversity or prefer simplicity? Is a monthly fee acceptable if it comes with enhanced tools? Once you answer these questions, the “best” investment app for beginners becomes clear—because each platform excels at serving distinct investor archetypes.

The barrier to investing has never been lower. Pick a platform aligned with your goals, fund your account with your welcome bonus, and begin building wealth incrementally. The time to start is now.