Micro – investing has made it possible for everyone to get into the investment market, even if you only have a little money to spare. Thanks to handy apps, you can turn the spare change from your everyday purchases into an investment portfolio.
Micro – investment apps allow you to invest in fractional shares of stocks and exchange-traded funds (ETFs) with as little as $5. By purchasing portions of shares, you can build a diversified portfolio that fits your budget. Many of the top apps don’t charge trading or account fees, so you can keep more of your money invested. Here are the top five micro-investing apps.
Top 5 Micro Investing Apps
When it comes to micro-investing apps, you have plenty of investing options. Here are the top 5:
- M1 Finance: Best overall, especially for hands-off investors looking for custom portfolios. They offer free automated investing in professionally designed portfolios.
- SoFi Invest: Best for those seeking diversified portfolios with financial advice. They provide free financial advice and tools to help you invest based on your investing goals.
- Acorns: Best for turning everyday debit card or credit card purchases into investments. They round up your purchases to the nearest dollar and invest the spare change automatically.
- Robinhood: Best for commission-free stock and crypto trading. They offer an easy-to-use stock trading platform to buy and sell U.S. listed stocks, ETFs, options, and cryptocurrencies with zero commission fees.
- Public.com: Best for socially-conscious investing with a community. Public is a digital brokerage where you can invest in stocks and ETFs, follow other advanced investors, and share your portfolio and strategies.
M1 Finance
M1 Finance is one of the top micro-investing apps available. It’s perfect for new investors looking to get into the stock market without the headache of picking stocks.
M1’s “pie” investing approach lets you create custom portfolios with your choice of stocks and ETFs. Want to invest in tech companies? Create a “Tech Pie.” Interested in dividend stocks? Build a “Dividend Pie.” Or choose from expert portfolios created by M1.
Once you set up your portfolio, M1 automates the investing for you. It will automatically rebalance your holdings and reinvest dividends to keep your target allocations. This hands-free approach makes micro-investing super simple.
M1 Finance Ratings and Reviews
- Apple App Store 4.7 from 55,655 reviews
- Google Play 4.6 from 23,514 votes
- Business Insider 4.3
- Bankrate 4.5
- The Motley Fool 4.5
Paul – June 02, 2022
“A game-changing product for automating personal finance. It is simple to use and keeps investors from being victims of both their actions and inaction. Only critiques: Mobile deposit is really needed, especially for small business owners and consultants. We should be able to fund our M1 accounts from more than just one bank.”
SoFi Invest
SoFi Invest provides a simple, incredibly low-cost investing platform ideal for novices and budget-conscious investors. With a $5 minimum, anyone can give it a go. SoFi Invest creates and manages a customized portfolio based on your investment goals.
They use low-cost ETFs (exchange-traded funds) to build balanced portfolios tailored to your needs. Whether you want to save for retirement, a home, college, or other life goals, SoFi Invest can help get you there.
They handle all the investing for you, so you can sit back and watch your money grow over time, thanks to the magic of compounding returns. For hands-free, stress-free investing on a budget, SoFi Invest is tough to beat.
SoFi Invest Ratings and Reviews
- NerdWallet 4.9
- Broker Chooser 4.7
- Forbes 4.7
- Business Insider 4.6
- Bankrate 4.5
- Motley Fool 4.5
Michael – September 12, 2023
“Quick and easy application process. The whole process, from application to funding, took just a few days. Very happy with the whole process. Went to other lenders, but they wanted to write cash-out refinancing of the entire first mortgage. Got the funds needed for our goal.”
Acorns
Acorns is a popular micro-investing app for beginner investors. It allows you to invest your spare change and automatically builds a diversified portfolio for you based on your financial goals.
You can choose from five investment portfolios based on your risk level tolerance, from conservative to aggressive. Acorns will invest your money in low-cost ETFs and automatically rebalance your portfolio to maintain your target allocation. The basic Acorns plan charges just $1 per month, making it very affordable for new micro investors.
Acorns also offers additional features like Acorns Later for retirement savings and Acorns Family for opening investment accounts for children.
Acorns Ratings and Reviews
- Google Play 4.6 from 276,349 reviews
- Apple App Store 4.7 from 865,732 reviews
- NerdWallet 4.6
Me – September 11, 2023
“Not sure why anyone has had difficulties with this company. Anytime I’ve needed money, I’ve received it with no problems. I love the roundups as well. The referral program Is great as well. I highly recommend this company. Having control over your 401k is awesome. Save for later is great, too!!!”
Robinhood
Robinhood offers an easy-to-use mobile interface for buying and selling stocks, ETFs, options, gold and cryptocurrencies like Bitcoin and Ethereum. They provide real-time market data to help you track the performance of securities and your portfolio.
You can place market, limit, stop loss and stop limit orders. Recurring investments, fractional shares and cash management fees and features also make it easy to build wealth over time through dollar-cost averaging.
If you’re new to investing or want an easy way to buy and sell stocks and cryptocurrency from your phone, Robinhood is an excellent choice. Their simple, low-cost investment platform and fractional shares allow you to start small and learn as you go.
Robinhood Ratings and Reviews
- Benzinga 4.5
- BrokerChooser score 4.5
- NerdWallet 4.6
John Okon – January 14, 2023
“Wow, my experience with this platform is great. I enjoy using the platform. You guys should keep up the good work.”
Public.com
Public.com is a popular micro-investing app that lets you buy fractional shares of stock and ETFs for as little as $5. It has an easy-to-use interface and educational tools to help new investors get started. It supports buying portions of over 5,000 stocks and ETFs, as well as crypto and alternative assets.
You can invest in well-known companies like Apple or Amazon or explore riskier investment options. With fractional shares, you’re not limited to buying whole shares so you can invest based on dollar amounts. Public.com has no account minimum investments or trading fees for trading stocks and ETFs so that you can start with just a few dollars.
They offer resources to help develop an investing strategy, including video tutorials, community discussions, and following expert traders. An in-app social feed lets you see what stocks others are buying and join the conversation.
Public.com Ratings and Reviews
- Apple App Store 4.7 from 64,957 reviews
- Millenial Money 4.6
- WallStreetZen 4.5
- Fortunly 4.5
- Benzinga 4.5
- Money Done Right 4.5
DayTrading Review Team
“Public.com is good for beginner traders and casual investors looking to buy and sell stocks with zero commissions. However, experienced investors may be disappointed by the lack of advanced analysis tools.”
Overview of Micro Investing Apps
Micro – investing apps allow you to invest small amounts of money, even spare change, in the stock market through your smartphone. Unlike traditional investing, which requires a large upfront investment and in-depth knowledge, micro-investing apps are designed for beginners.
It is a simple way to start building wealth and developing good financial habits. However, for long-term goals like retirement, you’ll need to invest larger amounts through a brokerage account or workplace plan, as micro-investing likely won’t generate enough returns on its own.
Micro – investing apps provide an easy introduction to the stock market for beginners. By linking to your spending accounts, they make investing your spare change effortless. While it is a good start, be sure to boost your contributions over time and diversify for the best chance at achieving your financial goals.
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