What Are the Best Investing Apps for 2024?

TL;DR

The best investing apps for 2024 include M1 Finance for dividend investing due to its portfolio-based model and features like fractional shares and automated rebalancing. For beginners, Robinhood is user-friendly and offers commission-free trading, while Webull is ideal for intermediate active traders with its advanced research tools. Additionally, Betterment and Acorns serve passive investors with tailored portfolios, Fundrise facilitates real estate investment, and Coinbase is recommended for cryptocurrency, allowing secure transfers to external wallets.

Transcript

• So in this video today we're going to be talking about what are the best investing apps that are currently available right now to new investors? Now, before we get into that video, I just wanna preface this really quick with a statement on my credibility on this topic, just because you may have no idea who I am, and you might be wondering, what t... Read More

Key Insights

• 🛻 M1 Finance is a top pick for dividend investors due to its portfolio-based investing model, fractional shares, dividend reinvestment, and automated rebalancing features.
• 🥶 Robinhood is a user-friendly app for beginners, offering commission-free trading and a free stock incentive for opening an account.
• ☢️ Webull is recommended for intermediate active traders, providing advanced research tools, technical indicators, and a free trading simulator. It is a comprehensive platform for active trading, but it is not suitable for day trading.
• 🤖 Betterment and Acorns are popular robo-advisors for passive investors, offering tailored portfolio options and automated investing features. Acorns also provides a spare change roundup investing strategy.
• 👻 Fundrise is a private real estate investing platform with three portfolio options, allowing investors to diversify their real estate investments across the US. The platform charges a reasonable fee and provides transparency and less volatility compared to publicly traded REITs.
• 😀 Coinbase is a recommended app for cryptocurrency investing, allowing users to transfer cryptocurrencies to external wallets and providing insurance in case of theft. It charges fees based on the amount of cryptocurrency purchased.

Questions & Answers

Q: How does M1 Finance stand out as a top pick for dividend investors?

M1 Finance offers a portfolio-based investing platform, allowing users to select the stocks or ETFs they want to invest in and creating a personalized "pie" portfolio. The app also offers fractional shares, making it easier to invest in expensive stocks. Additionally, M1 Finance provides portfolio-level dividend reinvestment and automated rebalancing features.

Q: What are the main advantages of using Webull for active trading?

Webull is a more advanced version of Robinhood and offers advanced research tools, technical indicators, and a free trading simulator. It is a good fit for intermediate active traders looking for more advanced features and charts. The app is commission-free and provides extended trading hours and international account support.

Q: Why is Fundrise recommended for real estate investing?

Fundrise is a private real estate investing platform that offers three different portfolio options. It allows investors to diversify their investments across different real estate projects in the United States. Fundrise's returns have been solid, and its fees are reasonable compared to traditional publicly traded REITs. The platform also provides greater transparency and less volatility compared to REITs.

Q: How does Coinbase compare to Robinhood for cryptocurrency investing?

Coinbase is recommended over Robinhood for cryptocurrency investing due to its ability to transfer cryptocurrencies to external wallets and its availability of insurance in case of theft. Coinbase charges fees based on the amount of cryptocurrency purchased but offers a more secure and reliable environment for storing and investing in cryptocurrencies.

Summary & Key Takeaways

• The video provides an overview of the best investing apps across various categories, including dividend investing apps, apps for beginners, apps for active traders, passive investing apps, real estate investing apps, and cryptocurrency investing apps.

• The speaker shares his credibility in reviewing investing apps and emphasizes that the information is based on his personal experience and extensive research.

• Each category is discussed individually, highlighting the top apps and their unique features and benefits.

• The speaker includes screenshots and video footage of the apps and their portfolios, giving viewers a visual representation of how they work.

• The video concludes by encouraging viewers to try different apps and find the ones that best suit their investing goals and preferences.