Top Investment Apps To Make Money In 2022

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Top Investment Apps to Make Money in 2022

Hey guys! Are you looking to dive into the world of investing but don't know where to start? Or maybe you're already investing but want to explore some new platforms? Well, you've come to the right place! In this article, we're going to break down the top investment apps that can help you make money in 2022. We'll cover everything from beginner-friendly options to platforms for more experienced traders, so there's something for everyone. Let's get started!

Why Use Investment Apps?

Before we jump into the list, let's quickly chat about why investment apps are so popular these days. Traditional brokerage firms can sometimes feel intimidating, with complicated interfaces and high fees. Investment apps, on the other hand, have democratized the investment process, making it accessible and affordable for just about anyone. These apps offer a range of benefits, including:

  • Low or no fees: Many apps offer commission-free trading, which means you can buy and sell stocks without paying a fee per trade.
  • User-friendly interfaces: Most investment apps are designed to be intuitive and easy to use, even if you're a complete beginner.
  • Fractional shares: This awesome feature lets you buy a portion of a share, so you don't need to shell out hundreds or thousands of dollars to invest in companies like Apple or Tesla.
  • Educational resources: Many apps offer educational articles, videos, and tutorials to help you learn the ropes of investing.
  • Variety of investments: You can typically invest in stocks, ETFs, options, and even cryptocurrencies through these apps.

With these advantages in mind, it's no wonder that investment apps have become the go-to choice for many people looking to grow their wealth. Now, let's dive into the specifics!

Top Investment Apps of 2022

Alright, let's get to the good stuff! Here are some of the best investment apps for making money in 2022, each with its own unique features and benefits.

1. Robinhood

Robinhood is probably one of the most well-known investment apps out there, and for good reason. It's super user-friendly, offers commission-free trading, and even gives you a free stock when you sign up (who doesn't love free stuff?).

  • Key Features:

    • Commission-free trading of stocks, ETFs, and options
    • Cryptocurrency trading
    • Fractional shares
    • Simple, intuitive interface
    • Robinhood Gold subscription for extra features like margin investing and instant deposits

  • Why it's great: Robinhood is an excellent choice for beginners because of its simplicity and lack of fees. The interface is clean and easy to navigate, making it a breeze to buy and sell investments. Plus, the fractional shares feature means you can start investing with as little as $1.

  • Potential drawbacks: While Robinhood is great for simple investing, it lacks some of the research tools and educational resources that other platforms offer. Also, it's worth noting that Robinhood has faced some criticism for its handling of certain market events, so it's always good to do your own research.

2. Fidelity

Fidelity is a powerhouse in the investment world, with a long history and a solid reputation. It's a great choice for both beginners and experienced investors, offering a wide range of investment options and top-notch research tools.

  • Key Features:

    • Commission-free trading of stocks, ETFs, and options
    • Extensive research and educational resources
    • Retirement accounts (IRAs)
    • Fractional shares
    • International trading
    • Customer service available 24/7

  • Why it's great: Fidelity shines when it comes to research and education. They offer a wealth of articles, videos, and tools to help you make informed investment decisions. Plus, their customer service is excellent, which is a big plus if you ever have questions or need assistance.

  • Potential drawbacks: Fidelity's platform can feel a bit overwhelming at first, especially if you're a beginner. The sheer amount of information and features might take some time to get used to. However, once you get the hang of it, you'll appreciate the depth of resources available.

3. Charles Schwab

Similar to Fidelity, Charles Schwab is another established brokerage firm with a strong reputation. It offers a comprehensive platform with a wide range of investment options and excellent customer service.

  • Key Features:

    • Commission-free trading of stocks, ETFs, and options
    • Extensive research and educational resources
    • Retirement accounts (IRAs)
    • Fractional shares
    • Banking services (checking and savings accounts)
    • 24/7 customer service

  • Why it's great: Charles Schwab is a fantastic all-around option. It combines low fees with excellent research and customer service. The addition of banking services makes it a convenient choice if you want to keep your investments and banking in one place.

  • Potential drawbacks: Like Fidelity, Charles Schwab's platform can be a bit overwhelming for beginners. There's a lot of information to take in, but the robust research tools and customer support make it worth the effort.

4. Acorns

Acorns is a super cool app that focuses on micro-investing. It rounds up your purchases to the nearest dollar and invests the spare change for you. It's an awesome way to start investing without even thinking about it!

  • Key Features:

    • Round-ups (invests your spare change)
    • Recurring investments
    • Retirement accounts (IRAs)
    • Acorns Spend (checking account)
    • Acorns Earn (earn bonus investments when you shop with partner brands)

  • Why it's great: Acorns is perfect for beginners who want to start small. The round-up feature makes investing automatic and effortless. Plus, the Acorns Earn feature can give your investments a nice boost.

  • Potential drawbacks: Acorns charges a monthly fee, which can eat into your returns if you have a small account balance. However, the fee is relatively low (starting at $3 per month), and the convenience of the app makes it worth it for many users.

5. Webull

Webull is another popular commission-free trading app that's gaining traction among younger investors. It offers a sleek, modern interface and a range of features, including fractional shares and cryptocurrency trading.

  • Key Features:

    • Commission-free trading of stocks, ETFs, and options
    • Cryptocurrency trading
    • Fractional shares
    • Paper trading (practice trading with virtual money)
    • Real-time market data

  • Why it's great: Webull's interface is visually appealing and easy to use. The paper trading feature is a great way to practice your trading strategies without risking real money. Plus, the real-time market data helps you stay on top of market trends.

  • Potential drawbacks: Webull's research and educational resources are not as extensive as some other platforms. Also, some users have reported issues with customer service, so keep that in mind.

6. SoFi

SoFi started as a student loan refinancing company, but it's since expanded into a full-fledged financial services platform. It offers investing, banking, and personal finance tools all in one place.

  • Key Features:

    • Commission-free trading of stocks and ETFs
    • Cryptocurrency trading
    • Automated investing
    • Financial planning tools
    • Banking services (checking and savings accounts)
    • Personal and student loans

  • Why it's great: SoFi is a great option if you want to consolidate your finances in one place. The automated investing feature is perfect for hands-off investors, and the financial planning tools can help you reach your financial goals.

  • Potential drawbacks: SoFi's stock selection is limited compared to some other platforms. Also, the cryptocurrency trading fees can be higher than on dedicated crypto exchanges.

Choosing the Right App for You

So, how do you choose the right investment app for you? Here are a few things to consider:

  • Your experience level: Are you a beginner or an experienced investor? Some apps are more beginner-friendly than others.
  • Your investment goals: What are you hoping to achieve with your investments? Are you saving for retirement, a down payment on a house, or something else?
  • Your budget: How much money do you have to invest? Some apps have minimum investment requirements.
  • The fees: What are the fees associated with the app? Commission-free trading is great, but some apps charge other fees, such as account maintenance fees.
  • The features: What features are important to you? Do you want access to research tools, fractional shares, or cryptocurrency trading?

Take some time to think about these factors and do your research before choosing an app. It's also a good idea to read reviews and compare different platforms to see which one best fits your needs.

Tips for Making Money with Investment Apps

Okay, you've chosen an app – now what? Here are some tips to help you make money with investment apps:

  • Start small: You don't need to invest a lot of money to get started. Even small amounts can add up over time.
  • Invest regularly: Consistency is key. Set up a recurring investment plan to automate your investing.
  • Diversify your portfolio: Don't put all your eggs in one basket. Invest in a variety of stocks, ETFs, and other assets to reduce your risk.
  • Do your research: Before you invest in anything, make sure you understand what you're investing in. Read company reports, research market trends, and consult with a financial advisor if needed.
  • Stay patient: Investing is a long-term game. Don't get discouraged by short-term market fluctuations. Stay focused on your goals and stick to your plan.

Final Thoughts

Investing can seem daunting, but with the right tools and knowledge, it's totally achievable. These investment apps make it easier than ever to get started and grow your wealth. Remember to do your research, choose an app that fits your needs, and invest responsibly. Happy investing, guys! I hope this guide has been helpful, and I wish you all the best on your financial journey!