Best Investment Apps in 2020

BEST INVESTMENT APPS IN 2020

The world has changed so much, so fast. Investing used to be just for the rich folks. There were minimums to open a brokerage account, high commissions, and a lack of free information online about how to invest. The rich got richer and you couldn’t do much about it.

But now, and especially in the past year, everything has changed. The new fintech firms in personal finance have changed the game, and the old guard has changed along with it.

Commissions are a thing of the past. Fractional shares are now available to those who want to invest as little as a dollar. You can trade on your phone for free, or you can set automatic investing and forget about it.

There are a lot of choices out there, but just realize: One of the best things you can do is getting STARTED on investing. Choose one of these below and get going now.

So how should you invest? In this video, I break down the Best Investment Apps of 2020.

Robinhood
- best for beginners
- $0 commissions
- fractional shares coming soon
- newer, millennial focused company
- emphasis on the app
- no physical branches
- decent research tools, but not the absolute top tier

If you want to join Robinhood, use someone's affiliate link to get a free stock. Mine is here but you don't need to use it: https://join.robinhood.com/kevinc3731

Charles Schwab
- best for intermediate investors, i.e. investor who want to be able to trade more sophisticated products
- $0 commissions
- fractional shares coming soon
- branches everywhere
- old school but with new tech
- lots of banking features, options, forex, etc.
- income projection tool to help see your upcoming dividends

Vanguard
- best for set it and forget it investors
- $0 commissions
- index fund pioneer (created the first index fund, the Vanguard 500)
- company structure means your interest and Vanguard’s interest are aligned
- app and website are a little clunky, but could be a good thing insofar as you are less likely to - trade and make moves in the market, thereby buying and holding and making money over time

Interactive Brokers: Best for non-US residents
- best for international investors or sophisticated traders
- $0 commissions for US investors
- access to alternative investments, futures, commodities, forex, etc.
- available in most countries worldwide, but commissions structure will change

Invest early and often. Don’t get too bogged down in your investment platforms, just stay the course over the long run and invest invest invest!

Other free, high-value products I recommend:
Discover It Credit Card: https://bit.ly/2kgiYXj
Chase Freedom Unlimited: https://bit.ly/2lO5pyO
SoFi Money: https://bit.ly/2GmDo96

AFFILIATE DISCLOSURE: Some of the links on this webpage are affiliate links, meaning, at no additional cost to you, I may earn a commission if you click through and sign up. However, this does not impact my opinions and comparisons.