Top-rated investing applications for smart management of your funds
Investing just got easier with the best investing apps that simplify the process of managing your investments and monitoring performance. No matter if you're a novice dipping your toes in the investing world or an experienced investor looking to trade on the go, these user-friendly apps are here to help.
With the right app, you can make ethical investments, choose the top ISA investments, open a personal pension, or even benefit from free trades.
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If you're unsure whether now is the right time to be investing or if you should lock into a high-paying one-year savings account, check out our article on the benefits of saving versus investing.
Some investing apps offer cashback or a bonus when you transfer ISAs or pensions to their platform.
Here are some of the top apps on the market based on the kind of investor you are:
Nutmeg
Nutmeg, the largest digital wealth manager in the UK, offers a user-friendly app with ready-made portfolios designed to suit your risk appetite and investment style. You can open a stocks and shares ISA, pension, lifetime ISA, junior ISA, or general investment account. The minimum investment is £500 (£100 for lifetime ISA and junior ISA), with charges ranging from 0.25% to 0.75%, depending on the amount and portfolio selected, plus investment fund fees. The app scores 4.4 stars out of 5 on Google Play and 4.8 on the App Store.
Wealthify
With Wealthify, you can open a stocks and shares ISA, general investment account, junior ISA, or pension, with a minimum investment of just £1 (£50 for the pension). Choose from a range of investment portfolios depending on your risk level and savings goals. The annual fee is 0.6%, with investment costs of 0.16% (rising to 0.7% for ethical portfolios) on top. The app scores 3.2 stars on Google Play (negative reviews seem to focus on investment returns rather than the app itself), and 4.4 on the App Store.
Moneybox
Moneybox is an excellent choice for beginners, with a minimum investment of just £1. Choose from three ready-made portfolios or a selection of tracker funds and exchange-traded funds. Investors can open a stocks and shares ISA, general investment account, lifetime ISA, junior ISA, or personal pension. Invest your spare change using their round-up function, set up regular weekly deposits, a monthly payday boost, or make one-off deposits. The app has a £1 monthly fee, 0.45% annual charge, and investment costs ranging from 0.07% to 0.77%. The app scores 4.7 on Google Play and 4.8 on the App Store.
These apps are regulated by the Financial Conduct Authority (FCA) and are free to download, although most charge to buy investments. To choose the right app, ensure you understand what they offer in terms of the range of investments available, annual charges, and access to customer service.
How do investing apps work?
Investing apps hold your money and allow you to buy and sell investments. Each app's offerings vary, but at the very least, they offer a general investment account, with some providing tax-efficient ISAs to allow you to hold your investments and pay no tax on growth, capital gains, or dividends, and a personal pension too. Using your app, you can fund your investment account, buy or sell various assets such as shares, funds, bonds, and cryptocurrency in some cases. The app will enable you to track the performance of your portfolio and usually a breakdown of what you own by sector, region, and asset.
Before choosing an app, make sure you're clear on what they offer, including the range of investments available, annual charges, and customer service access.
Making the right investment choices can significantly impact your financial future. With the best investing apps, investing becomes accessible, convenient, and profitable, empowering you to achieve your financial goals.
- With the best investing apps, novice investors can start making ethical investments, choose the top ISA investments, or open a personal pension, all from their mobile devices.
- Some investing apps offer benefits like free trades, cashback, or a bonus when you transfer ISAs or pensions to their platform, making it financially beneficial to invest through them.
- For technology-savvy individuals, apps like Nutmeg, Wealthify, and Moneybox provide a user-friendly interface to invest in a variety of assets such as stocks, funds, bonds, and even cryptocurrency.
- When deciding on an investing app, it's crucial to understand the range of investments available, the annual charges, and the level of customer service provided by the platform.
- As technology continues to evolve, the convenience and accessibility of investing through apps are revolutionizing personal-finance management, making it easier for people to invest and achieve their financial goals.
