Best Investment Apps for Beginners 2023

Service for copy trading. Our Algo automatically opens and closes trades.

The L2T Algo provides highly profitable signals with minimal risk.

24/7 cryptocurrency trading. While you sleep, we trade.

10 minute setup with substantial advantages. The manual is provided with the purchase.

79% Success rate. Our outcomes will excite you.

Up to 70 trades per month. There are more than 5 pairs available.

Monthly subscriptions begin at £58.

L2T Algo

TELEGRAM

RESULTS

More people than ever are choosing to trade and invest in assets from the comforts of home. One of the fastest and most convenient ways to do this is to buy and sell from your mobile phone.

To save you some online leg work – in this guide, we review the best investment apps for beginners in 2023!

We also discuss what to look for in an investment app when conducting your own research, as well as information surrounding the most popular features for beginners. This guide ends with a walkthrough of how you can sign up today – in a few simple steps!

 

Visit eightcap Now

 

Best Investment Apps for Beginners 2023: Quick Summary

If you are too busy to read our best investment app reviews in full, you will see a quick summary of our findings below:

• No 1: AvaTrade – Best overall investment app for beginners – with multiple platform compatibility
• No 2: EightCap: – Best investment app for MT4
• No 3: Capital.com – Best investment app for user experience
• No 4: LonghornFX – Best investment app for high leverage and 24hr support.
• No 5: Currency.com – Best investment app for tokenized assets

If, on the other hand, you have got time – you will find five comprehensive reviews of the best investment apps next.

Visit eightcap Now

What is an Investment App?

For those unaware of what an investment app is – it’s a type of mobile phone application that can be downloaded and used as a trading platform. This means you will be able to buy and sell instruments such as currencies, commodities, stocks, and crypto-assets – from the palm of your hand.

Notably, the team behind the investment app will almost always be an online brokerage firm – usually offering CFDs. With your sign-in details, you will also have access to the provider’s full trading suite, via your desktop platform.

The things that separate the wheat from the chaff when it comes to investment apps are things like – how many assets are available, how easy it is to use – and of course – how expensive it is. With this in mind – next up, we’ve reviewed the best investing apps for beginners in 2023.

Best Investment Apps for Beginners 2023: Full Breakdown

When looking for the best investment app for beginners we leave no stone unturned.

To get the ball rolling, we have reviewed a selection of the most well-respected brokers behind the best investing apps. After that, we divulge what you need to look out for when choosing an investment app yourself.

visit avatrade now

Visit eightcap Now

What to Look for in the Best Investment Apps for Beginners in 2023

Although we have offered up five comprehensive reviews of the best investment apps for beginners – it’s good to know what to look for in a brokerage yourself.

As such, we have listed below some of the key things to think about when searching for the best investing app – to suit your own trading endeavors.

Licensing and Regulation

We touched on licensing in our review of the best investment apps for beginners. This is because the regulated brokers behind the applications have to follow rules set out by watchdogs such as the FCA, ASIC, and CySEC (to name just a few).

The aforementioned regulatory bodies govern the online trading space to preserve order and keep online brokers free from financial crime. As you can imagine, knowing that a licensed platform maintains a certain standard is a good start when looking for the right one to sign up with!

Access to an Assortment of Markets

Another noteworthy feature of a great investment app for beginners is one that lists a wide assortment of markets. Sure, some traders might not be too concerned with diversification.

But, active day or swing traders might want to span several asset classes – so it does not commit them to just one. This might involve leveraged swinging of both forex and crypto-assets such as IOTA.

This is notably more effective for medium to long-term traders. This strategy will probably require access to different types of markets – for the purposes of hedging against inflation, interest rates, or economic turmoil.

Many assets behave in contrast to one another when world events happen – so the aim is to maximize returns by diversifying and not putting all of your eggs in one basket.

Low Commission and Spread

Low commission fees and spreads are vital when choosing the best investment app for beginners. Trading fees that seem reasonable can soon affect your profit potential over time.

The best investment apps for beginners often offer a commission-free trading experience with competitive spreads. If you are still making your mind up and weighing up your options – feel free to recap by checking out the five reviews featured earlier on.

Investment App Ease of Use

Whilst seemingly obvious, it’s easy to get carried away with the low spreads or passive trading features of an investment app – neglecting to see whether or not it’s easy to use. If you are still on the lookout for the best- each of the mobile applications we reviewed today is simple to navigate for beginners.

Another simple way to find your feet in a new trading space is to practice placing a few orders. This can be done via the free demo account included in many investment apps for beginners. We talk about this shortly. Remember, some will also require you to hook your account up to MT4 – to access this and many other useful tools and features.

Investment App Features

Speaking of features – the best investing apps for beginners will have the benefit of trading tools and other extras. This will enhance your experience and decision-making power – before hitting the market of your choosing.

See below the most commonly featured trading tools offered by the best investment apps for beginners.

The Option of Long or Short

The vast majority of investment apps enable you to trade both a rising or falling market – via CFDs or tokenized assets. As we touched on, this means that you can speculate in either direction – and make gains if you are correct.

See an example below of going short on a tokenized asset via your investment app:

• You are trading tokenized currencies – specifically NZD/USD. (New Zealand dollar/US dollar)
• You think this is overvalued and likely to decline, so you place a $500 sell order – to short the forex pair
• Within hours the underlying pair falls in value by 4%
• Your prediction was right – you close the position by placing a buy order on your investment app
• From your initial $500 sell order – you made a profit of 4% which equates to $20

Let’s also offer a quick example of how you might go long when trading via your chosen investment app:

• Let’s say that Facebook shares are valued at $335
• You think this is an underevaluation – so place a $1,000 buy order via your chosen investment app
• Facebook experiences a price increase and rises by 6%
• This means you were right to go long  – you made 6% gains
• From your initial buy order of $1,000 – you made a profit of $60

As you can see, many investment apps allow you to trade in either direction – without needing to own anything. If you had added leverage of 1:5 to the above CFD long position, you could have magnified your gains by a multiple of five – resulting in a profit of $300, instead of $60. Always use this feature carefully as it is essentially a loan from the investment app to boost your buying potential.

Risk Management Tools

The best investing apps will provide you with access to a free demo trading account – which is just one way to practice risk management. The reason being, you will have thousands of dollars worth of paper trading funds to hone in on your skills – without using a cent of your real capital!

You should also look for investment apps for beginners that allow you to easily incorporate stop-loss and take-profit orders on every position you take. This enables you to prepare yourself for both profit and loss – very specifically.

See an example below to explain further:

• Let’s say you are trading EUR/GBP, which has a current value of 0.8811
• You place a sell order with your investment app to short the pair
• Your forex trading system includes a risk/reward of 1:3
• As such, you place your stop-loss order 1% above the currency value – £0.8899
• Naturally, your take-profit will be set to 3% below the price – £0.8546
• If EUR/GBP increases by 1% – your position will be closed automatically
• Alternatively, if the minor pair falls by 3% – your trade will be closed

As you can see, if an investment app enables you to include these orders on each trade – you are able to be price specific about your entry and exit into your chosen market with ease. This is a tried and tested way to actively manage risk.

Notably, if you are taking a long position – these orders will be reversed. Some applications will also include a ‘hedging mode’ feature – as well as calculators, trading plans, risk management courses, and more.

Passive Investment Tools

For those who want a little more from an investment app for beginners – you might look for a few passive tools to be included.

You will see below the most common ways to partake in a hands-off trading style.

Trading Signals

If the idea of spending hours looking at indicators and charts to predict the rise or fall of the markets fills you with dread – you may consider a trading signal service.

For instance, here at Learn 2 Trade, we offer trading tips for forex, stocks, and cryptocurrencies. Our highly experienced team performs advanced technical analysis and updates are sent to our 20k+-strong Telegram group.

We always include the following information:

• The asset to trade
• A suggested entry price
• Stop-loss and take-profit prices
• Whether a long or short order is likely to be most profitable

It’s up to you whether you use this information to create an order on your chosen investment app for beginners.

Copy Trading

An alternative option to cut down studying time is ‘copy trading’. This is sometimes referred to as ‘mirror trading’ and will see you investing in a successful investor and mirroring them like-for-like.

Anything that person buys or sells will appear in your own investment app portfolio. This obviously includes any gains and losses. As we said, some platforms require you to hook up to a third party to access such features – like DupliTrade for example.

Support for EAs/Trading Bots

For an almost completely passive way to trade via an investment app – you might try trading bots. These are also called EAs (Expert Advisors) and can be controlled by people. With that said, it is usually pre-programmed algorithmic software – designed to scour the markets for opportunities – and place buy or sell orders on your account.

If you decide to sign up with an investment app for access to EA’s, you will probably need to connect your account to MT4 or MT5. Furthermore, it’s always recommended to take software like this for a test drive first. You can do this via a demo trading facility – using virtual equity, or a free trial offered by the creators of the application.

Advanced Technical Analysis

Unless you want to use the aforementioned passive trading features – you will need to access technical analysis tools to gain insight into market sentiment. As such, you can check what the investment app is able to offer in this respect.

Where some investment apps for beginners come with heaps of indicators, charts, and drawing tools – others will need to be connected to third-party platform MT4. With that said, linking your trading account with this technical analysis haven is probably easier than you think.

See below a quick walkthrough of how to connect your investment app to MT4 to access state of the art technical analysis tools:

• The first thing to do is download your chosen investment app and create an account
• Next, download MT4
• Select ‘add new broker’
• Enter the name of the platform behind your chosen investment app (for instance, ‘AvaTrade’ or ‘Capital.com’)
• Click ‘scan’ to search for the investment app broker –  hit ‘next’ when you find it
• Now you can select ‘account type’. As you have already created one on the investment app – you can click ‘existing trade account’
• That’s it – enter your investment app login credentials to link your accounts together

As we said, not all investment apps for beginners will require you to go through a third-party – but it’s handy to be aware of how to link the two accounts if you do.

Sign-Up With the Best Investment Apps for Beginners 2023 Today!

First, you need to download the investment app – here we are using Capital.com as an example, but you can choose whomever you wish.

Step 1: Create a New Account

Visit the Capital.com website and open an account You can do this by entering your name, address, email – and any other information the investment app needs to learn your identity.

Visit eightcap Now

Step 2: Download the Investment App

Now you can head over to the relevant app store. This will be ‘The App store’ for iPhone users, or ‘Google Play’ for Android. Here you can use the search box to find your chosen investment app.

Once you have downloaded and installed the app, you can log in with the username and password you created in Step 1.

Step 3: Upload ID

You will need to upload some form of documentation at this stage to prove your name and address. This guide found that most investment apps will accept a driving license or passport for the first step.

For proof of address – a recently received utility bill, bank statement, or official tax letter is usually sufficient. The best investment apps for beginners will confirm your new account within minutes so you can get started right away.

Step 4: Make a Deposit

Before you can start your trading endeavors and use the investment app to full effect, you need to add some money to your account.

Take a look at which payment types are accepted by the investment app, enter an amount to deposit, and confirm all to move forward and start trading.

Step 5: Find an Asset to Trade

Now, you can look for something to trade. As you can see, here we are looking for Coca-Cola shares via the app’s demo account.

When you have located your chosen market – you can select it to proceed.

Step 6: Place an Order

Next, based on your hypothesis – place a buy order if you forsee a price rise or a sell order if you think it will fall.

Enter the monetary amount or the number of units you wish to trade – confirm all when you are satisfied so there are no mistakes.

That’s it – you’ve just placed your first trade via an investment app!

Best Investment Apps for Beginners 2023: Full Conclusion

We live in a world where our phones are like another limb to most of us. Technology has progressed so rapidly that it’s said over 90% of people now own a mobile device. With this in mind, it’s no surprise that online brokers everywhere are catering to this by offering convenient investment apps to buy and sell on.

The best investment apps for beginners enable you to trade a diverse range of markets from the palm of your hand – wherever you have an internet connection. You should also look for key features such as low trading fees, a simple interface, demo facilities, technical analysis tools, and passive investment options like signals.

Today, we reviewed the five best investment apps for beginners of 2023. Each of the online brokers behind the applications excelled in aspects such as regulation, offering tight spreads, low trading fees, a huge assortment of tradable markets, and accepting various payment types.

 

Visit eightcap Now

FAQs

What is an investment app?

An investment app is a platform you download on your mobile phone to allow you to buy and sell assets on the move - no matter where you are. This works in the same way as desktop trading - but you can do it from the palm of your hand.

What is the best investment app for beginners?

This guide found that the best investment app for beginners comes from top-rated brokerage - AvaTrade. AvaTradeGO allows you to access hundreds of markets, all commission-free and with low spreads. As this is a CFD app, you can make gains from both the rise and fall of an asset's value. 6 jurisdictions regulate this investment app and you can choose from heaps of deposit methods.

Can I practice on an investment app for beginners?

Yes, the vast majority of investment apps for beginners will provide you with a free demo trading account. This might be accessible via a third-party trading platform like MetaTrader4 or 5 and will come with paper funds to practice with. AvaTrade, Capital.com, LonghornFX, and Currency.com all offer free virtual portfolio options.

Will I need to join an investment app as well as a trading platform?

Generally, you will not need to open two accounts. An existing online brokerage will run the investment app you download. This means that you can sign up with one broker, such as AvaTrade or Capital.com via the application. From then on you can choose between buying and selling on your mobile, or the dashboard on the web platform - as and when it suits you.

How much will the best investment app for beginners cost me?

The lions share of investment apps for beginners are free of charge to download and sign up with. AvaTrade, Capital.com, LonghornFX, and Currency.com all offer free applications and all come with a free demo account pre-loaded with paper finds.