"Top 5 Investment Apps Every Student Should Try"

Stock Market Investment

Are you a student looking to secure your financial future? Investing may seem intimidating, but it doesn't have to be. Thanks to technology and the rise of investment apps, young people can start building wealth with just a few taps on their phones. These tools provide a simple way to dive into the world of investing, even for those with little or no experience. Let’s discover the top five investment apps every student should consider!

1. Leading Investment Applications: Robinhood

Robinhood is a favorite among new investors, especially students, because it offers commission-free trading. You can buy and sell stocks, ETFs, and cryptocurrencies without worrying about brokerage fees. This is especially beneficial for students who may be on a tight budget.

The app's mobile interface is incredibly intuitive. For instance, a student can easily check their portfolio or execute trades while waiting for a lecture to start. Robinhood also provides educational material like market summaries and performance overviews that help users stay informed about their investments.

Statistics show that more than 30 million users have downloaded Robinhood, highlighting its popularity in the investment community. The app’s approachable design makes it an excellent starting point for anyone new to investing.

Student checking stock market data on a Robinhood app.

2. Amongst top 5 Investment Apps is Acorns

Acorns is designed for effortless saving and investing, which is perfect for students juggling classes and social life. This app rounds up your daily purchases to the next dollar, automatically investing the difference.

For example, if you spend $3.75 on lunch, Acorns rounds it up to $4.00 and invests that additional $0.25. Over time, these small amounts can accumulate into a meaningful investment—studies show that users investing through Acorns may save up to 20% more than traditional savings methods.

Additionally, Acorns offers educational content on topics like budgeting and investment basics through its “Grow” section. This resource helps students grasp important financial concepts in an engaging way.

3. Another Leading Investment Apps: Stash

Stash uniquely combines investing with personal finance education, appealing to students eager to learn while they invest. It allows users to purchase fractional shares of stocks and ETFs, letting students invest in companies they care about without needing large sums of money.

For example, if a student is interested in renewable energy, they can invest a small amount in a solar company without needing to buy a whole share. Stash personalizes investment recommendations based on users' values, enabling them to align their portfolios with their personal beliefs.

In terms of user education, Stash offers helpful articles and videos that simplify investment topics. This empowers students to make well-informed investment decisions based on their individual goals.

Student analyzing investment options on a Stash app.

4. Discover - Webull

For students looking for a more sophisticated trading experience, Webull is a top choice. It provides advanced tools and resources for in-depth stock analysis, making it a great next step for those who have started investing through simpler apps.

Webull also offers commission-free trades and real-time market data. Recent reports indicate that over 2 million users have taken advantage of its virtual trading simulator, allowing students to practice trading without the risk of losing real money. This feature is invaluable for gaining confidence before making live trades.

5. M1 Finance

M1 Finance takes a hybrid approach by combining automation and customization. Students can create personalized portfolios, called “pies,” that reflect their financial goals and risk preferences.

For example, a student can design a pie that includes 30% tech stocks and 20% sustainable investments, tailoring it to their interests. M1 Finance automatically rebalances portfolios over time to align with those goals, effectively managing risk without requiring constant attention.

Moreover, the platform provides fractional shares, meaning students can start investing with as little as $10. The additional educational resources offered on M1 Finance further equip users with the knowledge they need to succeed in their investment journey.

Summing It Up

Investing as a student may seem challenging, but the right tools can make the process smooth and enlightening. The apps highlighted above provide valuable resources for taking charge of your financial future without requiring significant upfront investments or advanced knowledge.