Best Investing Apps For Beginners 2024
DISCOVER THE BEST investing app for beginners IN THE UK RIGHT HERE
Sammie Ellard-King
I’m Sammie, a money expert and business owner passionate about helping you take control of your wallet. My mission with Up the Gains is to create a safe space to help improve your finances, cut your costs and make you feel good while doing it.
Choosing the Best Investing App For Beginners
If you’re just starting out as an investor, it’s important to understand that putting your money to work is key to reaching financial freedom. Investing regularly and wisely can help you achieve those goals.
Luckily, many investing apps are now readily available that can make getting started easy and seamless.
Each of the apps we’ve reviewed below has its own unique features and benefits, so we’ll provide you with a rundown of what each one offers. We’ll also discuss their pros and cons, as well as any training resources they offer to help you get started.
Ultimately, the choice of which app to use will depend on your individual needs and preferences.Â
We’ll provide guidance on what to consider when making your decision so that you can confidently choose an app that will help you on your journey to successful investing!
Best Investing Apps For Beginners List
Top Picks
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Best Investing App Overall
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Best For Hands Off Investors
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4.8
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4.5
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30 million users worldwide enjoy social investing with a wide selection of stocks, funds, trusts and cryptocurrency available. |
Award-winning investing app providing free financial advice. Moneyfarm offers a selection of funds handpicked by their experts. |
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Minimum Initial Deposit £50
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Minimum Initial Deposit £500
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eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
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Capital is at risk
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30 million users worldwide enjoy social investing with a wide selection of stocks, funds, trusts and cryptocurrency available.
- Low Trading Fees
- Social Investing
- Copy the top investors in the world
- Small withdrawal fees
Award-winning investing app providing free financial advice. Moneyfarm offers a selection of funds handpicked by their experts.
- Free financial advice
- Expert managed portfolios
- Ethical investing option
- High 1st deposit
Capital is at risk.
App Overview
30 million users worldwide enjoy social investing with a wide selection of stocks, funds, trusts and cryptocurrency available.
Award winning investing app, providing free financial advice. Moneyfarm offers a selection of funds handpicked by their experts.
Award-winning investing service with access to SIPPs, ISAs and more. Expert financial advice and research are also available.
Build wealth with Wombat. Trade global stocks and ETFs from £10. Join thousands shaping the future with the brands that matter to them.
InvestEngine brings unbeatable value and innovation to your investing. No buying and selling fees for 500+ exchange-traded funds from iShares, Vanguard and Blackrock.
Expert-managed portfolios to make investing as simple as possible. Backed by Aviva.
eToro - Best Trading & Investing App
Key Features
- A diverse range of assets
- 0% commission on stocks and ETFs
- Minimum Initial Deposit: £45 (£10 after)
30 million users worldwide enjoy social investing with over 3000 of stocks, funds, trusts and cryptocurrency available.
Use their social features and copy trading to follow and invest with the best investors on the app.
- 0% commission on real stocks and ETFs
- Social Investing
- Copy the top investors in the world
- Regulated by the Financial Conduct Authority (FCA)
- Lack of research
What I like about eToro
eToro is a popular investment app for beginners and experienced investors alike with a massive user base of over 30 million users worldwide.
This interactive trading platform provides beginners a slick, easy to understand and social introduction to investing.
It’s highlight feature is its copy trading where you can directly copy the portfolios of the best investors in the world.
You visit the eToro website here.
Fees: 0% on real stocks and ETFs – withdrawal fees $5 per withdrawal + high forex fees
Instruments: Stocks, Stock CFDs, Index CFDs, ETF CFDs, Investment Trusts, Forex, and Commodities.
Account Type: GIA, ISAs (through 3rd party provider)
- Disclaimer:
eToro is a multi-asset platform which offers both investing in stocks and crypto assets, as well as trading CFDs. Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 81% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
Moneyfarm - Best For Hands Off Investors
Key Features
- Access to ISAs, SIPPs, and pensions
- Annual Platform Fee: 0.75% - 0.35%
- Min deposit: £500
Award-winning investing app, offering handpicked expert-managed portfolios. Simple investing at its finest.
Min initial deposit £500
- Expert managed portfolios
- Free financial advice
- ISAs available
- Low fees
- Not for individual stock pickers
What I like about Moneyfarm
As a beginner investor, traditional investment options that require hours of research and analysis may be overwhelming.Â
If this is how you feel, then Moneyfarm and its robo-advisor (automated investing) services may be for you.
Although Moneyfarm requires a high initial investment, it’s a great way to deter wishy-washy investors. This app is for beginners who are determined to take investing seriously.
You can head to Moneyfarm’s website here.
- Disclaimer:
Your capital is at risk when you invest. Investing can be highly volatile. Seek qualified advice if necessary and always do your research.
Wombat
Key Features
- ISAs and General Investment Acccounts available
- Annual Platform Fee: 0.10% + Fund Fees - 0.10% - 0.7%
- Min Deposit: £10
Build wealth your way. Trade global stocks and ETFs for just £10. Capital at risk.
What I like about Wombat
Wombat is relatively new to the investing app world but it has certainly landed in a storm.Â
The user experience on the app is second to none and the Wombat team has crafted a slick, easy-to-use and intuitive app.
You can invest in themes like tech, electric cars and luxury goods but also pick individual stocks too.Â
You can visit the Wombat website here.
- Disclaimer:
Your capital is at risk when you invest. Investing can be highly volatile. Seek qualified advice if necessary and always do your research.
Hargreaves Lansdown - Best Trust Ratings
Key Features
- Trusted and well established broker
- Annual Platform Fee: Varies by assets
- Min Deposit: £100 lump sum or £25 per month
One of the most popular investing platforms in the UK. With a range of ISAs, SIPPs and share dealing accounts.
They have over 15,000 instruments available but I think it's more suited to larger investors for individual trading and for fund investing for lower income investors.
If you have a small amount to trade with you might be better suited with another lower commission provider.
- Award winning investment and trading provider
- First class educational and research tools
- FTSE100 company and highly trusted in the UK
- Fantastic customer service
- Over 5000 5 star reviews on Trustpilot
- High individual trading fees
- Only in GBP currency
What I like about Hargreaves Lansdown
This award-winning broker has access to thousands of stocks, ETFs and index funds. HL is probably the most widely used broker for both beginners and professionals.
With Hargreaves Lansdown, you can manage your investments on the go. The app is also praised for its customer service, which means beginners can rest easy as they begin their investment journey.
- Disclaimer:
Your capital is at risk when you invest. Investing can be highly volatile. Seek qualified advice if necessary and always do your research.
InvestEngine - Best For ETF Investing & Low Fees
Key Features
- DIY and Ready Made ISAs
- Annual Platform Fee: 0 - 0.25%
- Min Initial Deposit: £100
No buying and selling fees on their DIY portfolios for 500+ exchange-traded funds from iShares, Vanguard and Blackrock.
EXCLUSIVE OFFER - Get up to £50 BONUS when you invest your first £100 (T&C's Apply)
- One of the lowest fees on the market
- Brilliant for beginners and seasoned investors
- Fantastic customer service / 4.6/5 TrustPilot Score
- ISAs available
- Not for individual stock pickers
What I like about InvestEngine
InvestEngine offers access to over 500 exchange-traded funds from leading brands like Vanguard and Blackrock (iShares).
They offer both ready-made portfolios depending on your personal risk tolerance and the opportunity to choose your investments yourself.
Their fees are very low compared to the other accounts here, and they are very easy to set up with an account online in minutes.
Visit InvestEngine here.
- Disclaimer:
Your capital is at risk when you invest. Investing can be highly volatile. Seek qualified advice if necessary and always do your research.
Wealthify - Best Investing App For Beginners
Key Features
- Stocks and Shares ISAs, SIPPs and multiple account types
- Annual Platform Fee: 0.6%
- 2 types of plans original & ethical
Popular robo-advisor with 5 expert-managed portfolios tailored to your investing style.
- No minimum investment - portfolios start at £1
- Engaging app and user experience
- Charge a flat rate - keeping fees simple
- Not for those who want to pick individual stocks
What I like about Wealthify
Wealthify can create a personalised investment portfolio and an investment strategy based on your preferences and goals.Â
This app offers five investment styles that range from cautious to adventurous, so you’re free to choose the one that works for you.
Wealthify’s investment experts will help to manage your portfolio, removing the need for manual adjustments.
You can visit Wealthify here.
- Disclaimer:
Your capital is at risk when you invest. Investing can be highly volatile. Seek qualified advice if necessary and always do your research.
Full Brand Reviews
Types of Investing Accounts
Stocks and Shares ISAs
Stocks and Shares ISAs are a tax-free way of investing in the stock market in the UK. You can invest £20,000 per year and the profits are not subject to capital gains tax.Â
There are a few types of stocks and shares ISAs, including a standard, Lifetime ISA and Junior ISA. If you’re just starting out then this account type is highly recommended as with all other accounts you’ll be subject to tax.
You can check out our best stocks and shares ISAs here.
Personal Pensions
If you’re planning ahead for retirement then a personal pension is one of the best options for you.
It’s important to note that you cannot withdraw your pension until you’re 55 (soon to be 57) so any money you place into your pension need not be something you need now!
You can run a personal pension alongside a workplace pension and you can invest them both.
It’s important to know your limits though…
- 100% of your income per year
- £1,073,100 paid into your pension over the course of your lifetime
- A maximum of £40,000 paid in per year
General Investment Accounts
All investing apps will have a general investment account available. It’s the standard type of investing account you’ll find.Â
It’s swift and easy to set up and allows you to test out platforms without committing to opening an ISA or pension.
It is however subject to capital gains tax so if you have yet to use your ISA allowance up it might be sensible to do so first.
Profits from a GIA are free for the first £12,300 but this is the total for all your investments including any property you may have.
Investment Bonds
Investment bonds are similar to an ISA where you can wrap up your money free from tax. It is essentially a contract for a length of time whereby you’re lending the bondholder funds.Â
This could be a corporate or government bond. Over time you receive interest payments on the bonds.Â
Bonds still form a large part of many people’s portfolios but the modern investor has tended to steer clear for more favourable returns elsewhere.Â
Bonds are normally considered a safe investment.
Investing Apps - Buyers Guide
Investing apps have become increasingly popular among UK investors due to their convenience and accessibility. If you’re looking to start investing using an app, there are multiple factors to consider to ensure you choose the right one for your needs.Â
Here are eight reasons why you might choose an investing app:Â
Fees
One of the most important factors to consider when choosing an investing app is the fees charged by the platform. Look for an app with low fees or no fees at all, particularly for basic trading features.
The Winner: eToro for its 0% commission-free trading on stocks and ETFs which sets it apart from most others on the market.Â
Investment options
Look for an app that provides a wide range of investment options, such as stocks, bonds, mutual funds, exchange-traded funds (ETFs), and more. A diverse range of investment options can help you build a well-balanced investment portfolio.
The Winner: Hargreaves Lansdown for it’s sheer access to the worlds best funds, stocks and bond accounts.
User-friendliness
A beginner-friendly investing app should have a simple and intuitive interface. It should be easy to navigate and offer useful features like real-time market data, educational resources, and portfolio tracking.
The Winner: Wombat has the best app I’ve used on the market but eToro wins this because of it’s overall app experience and trading views.
Security
Security is essential when it comes to investing. Make sure the app you choose has robust security features, such as two-factor authentication, encryption, and SSL technology.
The Winner: Moneyfarm wins here for it’s high-level security features and FCA regulated account.
Customer service
Good customer service is crucial, particularly for beginners who may have questions or concerns about investing. Choose an app that offers responsive customer support through phone, email, or live chat.
The Winner: Hargreaves Lansdown has unrivalled service with real humans and advisors at the end of the phone, which for me is super important, especially when you’re investing your own money.
Education and research resources
Look for an app that provides educational resources and research tools to help you make informed investment decisions. The app should offer access to market news, stock analysis, and other tools to help you understand the market.
The Winner: Etoro has such an extensive academy for beginners which includes videos, courses and blog posts to work through. Also Hargreaves Lansdown is notoriously popular for it’s research.
Mobile app availability
An app that has a mobile app makes it easy to keep track of your investments, even when you’re on the go. Look for an app that has a well-designed mobile app that works well on your smartphone.
The Winner: Wombat has such a cool app and it’s super easy to use. I particulary like the portfolio overview and how you don’t need much investment knowledge to understand what you are doing.
Account minimums
Some investing apps require minimum investments, so make sure to choose one that has low account minimums, particularly if you’re a beginner who wants to start with a small amount of money.
The Winner: Wealthify as you can start with just £1 which for beginner with low amounts to get started is a dream
By considering these factors, you should be able to choose an investing app that meets your needs as a beginner investor. It’s important to take your time and do your research to ensure that you choose the right app for your investment goals and preferences.
By considering these factors, you can choose an app that meets your needs and helps you achieve your investment goals.
What Is Investing?
When you invest, you’re using your own money to buy assets like stocks and bonds. Investors buy these assets in the hopes that their value will increase over time.
The primary goal of investing is to generate a return on investment (ROI) that is larger than the asset’s purchase price. There are two ways to generate a profit on these assets:
Capital gains:Â These are the profits you make when you sell your assets for more than you paid for them.
Dividends:Â These are the profits that you generate over time when you buy and hold onto your assets without selling them. This process is often referred to as ‘income investing.’
Investing can be a powerful tool to help you reach your financial goals. Still, it’s important to remember that all investments come with some risk. According to the health of the market, economic factors, or company conditions, your stock value may go up or down.
It’s a good idea to educate yourself about the risks involved, and how to create a diversified portfolio that aligns with your goals and risk tolerance. By doing your research, you can actively avoid major risks and make sound investments.
What Is A Stock Or Share?
A stock (also known as a share) is a unit that represents your ownership in a company. When you buy stock, you are buying a small piece of that business.
Companies allow investors to buy stocks as a way to raise capital. In turn, investors receive a portion of the company’s profit. This is paid out to investors as dividends.
Stock is traded on the stock market or stock exchanges, and the price of these stocks may fluctuate depending on a few factors:
- The company’s financial performance
- Industry trends
- Broader economic conditions
Why Invest?
As a beginner investor, there are several reasons to consider starting your investing journey. Over and above being able to grow your wealth and reach long-term financial goals, you may also want to invest for the following reasons:
To beat inflation:Â The rate at which the price of goods increases over time is known as inflation. As these prices increase, the value or purchasing power of your money decreases. By investing in assets that have the potential to grow at a higher rate than inflation, you can protect your money from losing its value over time.
To learn about financial markets:Â Every great investor has to start somewhere. Investing is a great way to learn more about financial markets, and how they work.
To diversify your portfolio:Â Investing is a fantastic opportunity to diversify your portfolio and spread your risk across different assets and industries. You can potentially reduce your risk and generate a good ROI by investing in a mix of stocks, bonds, mutual funds, exchange-traded funds and other assets.
How To Choose The Best Investment Apps For Beginners
There are a few factors to consider when choosing the best investment app for your goals:
- User interface
- Investment options
- Whether you can diversify your investment portfolio
- Fees and charges
- Whether the platform contains educational resources for beginners
- Security to protect your investments
What To Be Aware Of
Fees
One of the most important factors to consider when you’re investing is the fees associated with each investment. These fees can include commissions, management fees, and other charges. Over time, these fees can eat into your investment returns.
Be sure to research what fees are associated with the investments you make, and choose those with transparent and reasonable fees.
Investing style
There are many different investing styles, each with its own advantages and disadvantages. While some investors are more conservative in their approach, others use an aggressive investment strategy.
It’s important to understand your own style and choose investments that align with your goals and preferences. For example, if you are risk-averse, you may want to invest in less volatile assets like index funds or bonds.
Security and safety
There is always some level of risk to investing. Still, it’s essential to familiarize yourself with the potential risks of different types of investments. While stocks can be unstable and experience sudden fluctuations, bonds are far less risky – although they do offer lower returns.
For this reason, it’s crucial to choose investments that are backed by reputable institutions with a solid track record. Otherwise, you may be left lagging behind other investors while they continue to profit.
When To Take Financial Advice
Beginner investors may benefit from taking investment advice at different points of their investment journeys. By seeking the advice of professional advisors, you can gain valuable insights, guidance, and support. But when exactly should you take this advice? And how can it help?
Financial advisors are fantastic during the beginning stages of investment – including when you’re setting your goals. They can help you to set realistic (and easily achievable) goals, as well as a plan on how to reach them.
Similarly, your financial advisor can help you to pick the right investments and assess the risk of each one you’re interested in.
Frequently Asked Questions
Most frequent questions and answers when it comes to the best investing apps for beginners UK
What app is safest for beginners?
When it comes to investing, safety is a top priority. Here are a few investing apps in the UK that are considered safe and beginner-friendly:
eToro: eToro is a popular investing platform for beginners because of the social element to it’s trading platform. You can follow top investors and even copy their every move with the copy portfolio feature. The academy is also a great place to learn how to trade and invest. Visit eToro here. – eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
Hargreaves Lansdown: Hargreaves Lansdown is a well-established investment platform in the UK that offers a wide range of investment options, including stocks, bonds, funds, and more. The platform also provides a range of educational resources, including guides and videos, to help beginners learn about investing. Visit Hargreaves Lansdown here.
It’s important to note that no investment is completely risk-free, and it’s always a good idea to do your research and consider your investment goals and risk tolerance before choosing an investing app. It may also be helpful to consult with a financial advisor before making any investment decisions.
How should a beginner start investing?
Beginners can start investing by following these easy steps:
Determine your financial goals and risk tolerance
Educate yourself on basic investment concepts
Start by investing smaller amounts
Monitor your investments regularly
How to start investing with limited funds?
The best way to start investing with limited funds is to use investing apps that don’t require a minimum balance or investment amount.
You should also assess the fees and costs associated with each app or platform to ensure you’re maximising your profit.
If you can only start with a small amount then nobody is judging you. The key is getting started!
How much should a beginner invest for the first time?
We suggest conducting a budget to understand exactly how much you can afford to invest. There are techniques such as the 50/30/20 rule which is based on 20% of your monthly salary going towards your investments.Â
These days you can invest from as little as £1 with some providers but really you should only invest what you’re comfortable with.
Where can I learn about the stock market?
There are lots of fantastic free and paid resources to get stuck into. Some of our favourite websites include Investopedia for terminology, The Motley Fool for stock insight and Seeking Alpha for in depth thought pieces.Â
We also have an academy packed with a tonne of free resources which you can check out here.
What are the best investing apps UK?
Some fantastic solutions are out there, but our top two are eToro and Moneyfarm.
You can also learn about the latest stock market news from apps like Finimize.
Roundup
You might feel overwhelmed when you begin your investment journey – trust me, I have been there. But these apps on the list above are a surefire way to get you started.
They are user-friendly, easy to navigate, and they all come with helpful resources to guide you before you start investing all your cash.
If you’re looking to start investing but don’t know where to start head over to our investing for beginners page.
Disclaimer – please note that nothing on this page constitutes financial or investment advice. You may lose money and you may get back less than you put in. Capital is at risk when you invest.
