If you use your phone for most things, using an app to invest could be a no-brainer.
Here we list the best apps for investors who want to be able to trade stocks and investment funds while on the go.
In this article, we will talk you through:
- How do investment apps work?
- What are the best apps for all-round investors?
- What are the best investment apps for beginners?
- Is it worth using an investment app? The pros and cons
- Are investment apps safe?
- How do I choose an app?
This article contains affiliate links that can earn us revenue*.
Read more: Best investment platforms for beginners
What are investment apps?
If you want to invest in individual shares or diversified investment funds, one way to get started is to sign up to an investment platform.
Most investment platforms now offer apps which you can download onto your phone or tablet. These apps allow you to invest and keep track of your holdings from the palm of your hand.
Using an app to invest makes it really easy to buy and sell while on the move.
However, as with all apps there’s some variety in quality and reliability. So we’ve delved into which platforms have the best apps below.
Remember that it’s not just about the apps: choosing the right investment platform is just as important which is why we outline the best investment platforms for beginners.
If you want to know more about how to start investing, read our beginner’s guide to investing.
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Investing for beginners: everything you need to know about asset allocation
Best investment apps for all-round investors
To work out which investment apps are the slickest and easiest to use, we downloaded and tried them out.
We also read the reviews and scores on the Apple and Google Play stores to see what users were saying.
Hargreaves Lansdown
Has a wide range of investment options
Key features:
– Dealing charge: Between £5.95 and £11.95 per trade
– Charges: Between no charge and 0.45%
Hargreaves Lansdown allows you to invest in funds, shares, and, if you’re a less confident investor, there’s also a range of ready-made portfolios.
The app allows you to trade as well as keep track of your performance and is intuitive to use.
It’s app is decent too. On the Apple store it scores a 4.7 rating and on the Google Play store it scores 4.2 stars. Within the app you’ll be able to track your investment’s performance, search for stocks, and create personalised watchlists to track the performance of certain stocks.
However, Hargreaves Lansdown isn’t the cheapest as its platform and trading fees are a little higher than some of its competitors.
Capital at risk. The tax treatment of your investment will depend on your individual circ*mstances and may change in the future.
AJ Bell
Has a wide range of investment options
Key features:
– Dealing charges: Costs vary depending on investments but start at £1.50 per online trade
– Charges: 0.25%
When you invest with AJ Bell you’ll have access to thousands of different stocks, ETFs, and funds, making it a great choice if you wish to diversify your portfolio.
Meanwhile, its app scores well too. On the Apple store it scores a 4.7 rating, but on the Google Play store this drops to a less respectable 3.2 star rating. Within the app you’ll be able to track your investment’s performance, search for stocks, and add money to your portfolio.
Capital at risk. The tax treatment of your investment will depend on your individual circ*mstances and may change in the future.
InvestEngine
Best for ETF investing
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About InvestEngine
Key features:
– Dealing charge: 0%
– Charges: 0.25% for its managed portfolio selection while ETF costs vary (average at 0.14%)
If you’re the type of investor who manages their own ETF portfolio, then InvestEngine could be one of the cheapest options on the market. This is because the platform itself charges no fees for DIY investors, although other expenses such as ETF and market spread costs do apply.
The platform itself hosts nearly 600 different ETFs, from S&P 500 tracking funds to others invested solely in the Robotics sector.
Capital at risk. The tax treatment of your investment will depend on your individual circ*mstances and may change in the future.
IG
Best for experienced, high net-worth investors
If you’re someone who frequently trades throughout the day, then IG could be the best option on the market. This is because it charges zero commission on US shares if you make at least three trades a month. Although a foreign exchange fee of 0.50% applies, it can save you decent money if you regularly trade.
If you wish to trade UK equities, then there is a £8 fee per trade. This drops to £3 per trade if you make more than three trades a month.
We highlight this platform as an option for experienced investors because it allows you to trade under a vast range of investment strategies. In addition, it doesn’t offer fractional shares, meaning people with a limited budget will have a restricted choice of investments.
Capital at risk. The tax treatment of your investment will depend on your individual circ*mstances and may change in the future.
Nutmeg
Best for ready-made portfolio investors
Key features:
Total cost: Between 1.01% and 1.15%
Nutmeg was one of the first providers to launch a robo-advice platform. These platforms aim to take the hassle out of investing by helping you determine your risk appetite and financial goals.
Nutmeg’s robo-advice will use this information to set you up with a ready-made diversified portfolio, which is easily managed via the app. Here you can invest as well as keep track of your performance.
Its simplicity wins it great reviews in the Apple and Google Play stores, where it scores 4.8 out of 4.4 respectively.
Capital at risk. The tax treatment of your investment will depend on your individual circ*mstances and may change in the future.
Pensionbee
Best for pension investors
Key features:
– Dealing charge: Depends on the investment but ranges between 0% and 0.31%
– Charges: Between 0.28% and 0.90%
As the name suggests, Pensionbee is an investment platform focused on pension saving.
You can do everything in the app – from kicking off pension transfer, through to selecting investments and keeping tabs on performance.
Pensionbee only offers ready-made portfolios but has a good variety of options, including ethical and sharia funds.
It is competitive on price – and once you hit retirement, there’s no need to switch your money elsewhere as it also offers a drawdown service.
Capital at risk. The tax treatment of your investment will depend on your individual circ*mstances and may change in the future.
Plum
Best for those in need of some savings motivation
Key features:
– Monthly fee of £2.99
– Charges: 0.45%
Plum offers a range of funds and investments, with some of its most popular options tracking the technology sector.
In addition, Plum isn’t just an investing app, it also offers access to a savings account.
It helps customers save more by analysing their spending habits and scraping off any extra into a savings pot.
The app is intuitive and easy to use – and is highly rated on both the Apple and Google Play stores.
Capital at risk. The tax treatment of your investment will depend on your individual circ*mstances and may change in the future.
Lightyear – Stocks, funds and up to 4.50% interest on uninvested cash
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This is paid financial promotion. Interest rate subject to fluctuation. Capital is at risk.
Are investment apps worth it?
Investment apps are definitely a great way to keep track of how your portfolio is performing. If you’re a regular trader, an app can provide a quick and easy way to buy and sell on the move.
But investing is not something that should be done without the appropriate thought and research , as a ll investments carry a varying degree of risk . The value of your investments can go down as well as up and you may get back less than you put in.
This is why it’s important that you don’t let the simplicity of an app lead you to making hasty decisions
Pros and cons of investment apps
Pros
- An easy way to keep track of your portfolio’s performance
- Adding money or trading is quick and easy to do
- The small screen format has driven platforms to communicate clearly and simply – and most platform apps are very intuitive to use
Cons
- It makes it really easy to trade, which in turn makes it easier to make quick decisions which could be costly
- If you’re on the go then it’s easier to get distracted so you might make mistakes or make investment decisions you later regret
Consider cost too
While ease of use may well be important to you when choosing a platform, it’s equally important to keep an eye on costs. When it comes to investing, the fees you pay to your platform is one of the only certainties.
But once you’ve narrowed down your selection to a few firms that offer the right choice of investments – and don’t appear too expensive, this article can help you work out which apps have the slickest user experience.
Find out: The impact of fees on investment returns
Are investment apps safe?
Investment apps tend to be very safe. They will normally require passwords, PINs as well as biometric identification, making it hard for someone to access them even if you lose your phone of it’s stolen.
But some of them will allow you to do without the biometric security. If you’re only protecting access with a password or PIN, don’t write it down anywhere, and use a secure password that can’t be guessed.
If your phone is stolen, let your investment platform know right away and login on another device to change your passwords.
How to choose an app
When you’re choosing an investment platform, the slickness of their app should not be your first consideration.
Start by:
- Deciding whether you want to invest in ready-made portfolios or whether you want the flexibility to invest in a wider range of assets.
- After you’ve made that choice, look into the costs. Check out our article on the best investment platforms to help you understand which firms have the most reasonable costs.
Once you’ve narrowed down your selection to a small number of platforms that meet your needs and don’t charge too much, there’s no reason why you can’t give their app a test run before you commit.
Opening accounts tends to be pretty easy. So you could set up accounts with a few different providers and put a small amount of money in initially to see which one you prefer.
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