The 5 Best Investing Apps for 2022! (US & International)

hey guys in this video we’re gonna go

over the top five best investing apps

and at the end of this video we’re also

gonna go over some of the best apps for

international countries like the uk

canada europe and australia

so how did i arrive to these five best

investing apps and what are my criteria

well i’m going to answer that for you

really quickly here but first let me

give you some background on why i made

this video so i read all of the comments

for my youtube videos and i realize that

i get a lot of the same questions which

is hey humphrey what’s your favorite

brokerage or hey humphrey which

brokerages offer fractional shares now i

used to concentrate a lot of my holdings

in just one or two different brokerages

and i just kind of set it and forget it

but ever since i started creating

content for youtube and tiktok

what i realized is i’ve tried a lot of

different investing apps these apps and

brokerages include but are not

limited to for example vanguard fidelity

schwab weeble td ameritrade robinhood

public sofi m1 finance stash

acorns i wonder how long i can keep

going but i think i just named like 11.

so let’s take some time

to go over the criteria that i use to

make my selections and then we can go

over the best trading apps that you can

install today and start using to invest

the first thing i wanted to consider was

what type of features does this

brokerage offer

these features included things like

access to different types of accounts so

access to retirement accounts and maybe

college savings accounts

etc etc i also wanted to consider if

these brokerages offered fractional

shares because fractional share trading

is very popular as of recent i also

wanted to consider what access they

actually gave you in terms of different

types of investments so for example with

fidelity and vanguard you get access to

their specifically branded index funds

so all the brokerages that we’re talking

about today at least for the united

states

are all commission free they don’t

actually charge you any fees for trading

so that’s pretty much an industry

standard now and we don’t really have to

worry about that the other two things

that i wanted to consider when it came

to choosing an investing app is how good

is their interface so how easy is it to

use and also how’s their customer

support because sometimes we do need

help when we don’t know how to do

something i then compared all of these

apps against each other and i’ve

basically narrowed them down to five

that i really really like and

remember guys this is just my opinion i

just want to give you that disclaimer

out there this is not financial advice

this is just for entertainment purposes

only

so with that let’s go on with the first

in my list and that’s actually fidelity

it’s the first brokerage we’re going to

talk about today and i think there are a

few reasons that they’re

actually number one first of all in

terms of their features i’m going to

bring them up on the screen right now

they literally offer

everything you can even think of from

retirement accounts to options to 529

savings accounts fractional

shares no fees on trading they even have

a robo investing platform in terms of

features they’re super robust in that

regard and they’re also super well

capitalized they’re one of the largest

investment firms in the united states

with over 2.4 trillion dollars under

management your money’s really safe

there and if you ever need to get your

money out of fidelity it’s going to be

possible for you to do so

fidelity also offers a proprietary index

fund which has

zero fees at all so it has a zero

expense ratio that’s pretty crazy

because the average index fund or mutual

fund charges you an expense ratio of

point two to point seven five percent

per year that means if you have a

thousand dollars invested in either of

those funds

if it’s point two percent you owe them

20 bucks a year for the fee if it’s 0.75

75 a year with a zero index fund fee

that just means more money is going to

be going into your pocket and not to

fees

now in terms of their interface fidelity

is not super hard to use but it’s not

super easy to use either i would say

it’s probably like a 7 out of 10 where

10 is the easiest

you kind of need to know your way around

and if you don’t know your way around

there are some tutorials online that you

can look up or you could just call their

customer support

now in terms of their customer support

they do offer email as well as a phone

service and i’ve called them before

during market hours and they generally

pick up within 10 minutes

i personally use fidelity investment app

as a place to hold my long-term holdings

so i’m not making too many changes in

there from day to day

i think if you are wanting to day trade

or swing trade then

some of these other brokerages and apps

that are dedicated to that are probably

a much better

choice so if you do want something that

lives on your phone and is a little bit

easier to use than say fidelity there is

an app called public.com and that’s

actually our number two best investing

app today i think right now it’s one of

the best investing apps out there

because of their ease of use their

interface is actually super super easy

to use as well as all their features

now public touts themselves as the

social network of investing they

essentially have a facebook like layer

on top of an investing app so they have

like a news feed where you can follow

other people and see what they invest in

as well

although you can’t see their exact

allocation you can still learn a lot by

seeing what other people are investing

in and you can also track

pretty cool celebrities that are on the

app such as tony hawk and casey neistat

so i’m following edmoni on public and

he’s actually one of my friends but he

also makes financial tick tocks and i

can see exactly what he invests in in

his portfolio

obviously you can see that he invests in

things like snap square twilio uber

exxon mobile and zillow but you just

don’t see the allocation it’s funny he’s

also got some gamestop and some

draftkings

and but they do have a separate section

for long-term investing so you can see

that admoni here is really

long on apple disney facebook and

walmart in terms of features they offer

a fractional shares and you can buy

fractional shares of stocks or etfs so

for example with airbnb

if i wanted to buy 50 worth of airbnb i

could instead of buying the entire share

now with public there are no account

minimums or no fees for trading however

they do not offer any options trading

and they don’t have any retirement

accounts either

so this is a long-term investing app

that’s really simple to use and it’s

really engaging and i think the more

engaging and fun it is to use the more

interested i seem to be in investing so

i really like their interface for that

in terms of their customer support they

only have an email only option so that’s

pretty standard for a lot of these

app-based brokerages

so that kind of sucks but if you do need

support with a certain trade then just

expect that you might be waiting a

little bit longer for an email back

i do have a public.com link for you guys

in the description below i believe

if you use my link you get ten dollars

worth of free stock and you can choose

what stock that you actually get so i

think it’s like ten dollars worth of

tesla

amazon or some other popular ones out

there all right the next best investment

app or brokerage is actually

vanguard.com

vanguard is one of the largest

brokerages out there and it’s actually

home of the index fund so they actually

came up with the index fund product back

in the day

with over 6.2 trillion dollars of assets

under management they’re almost three

times as big as fidelity so

again if you invest with vanguard your

money is pretty safe there and you’ll be

able to get it out whenever you want

in terms of their features they’re very

robust as well so they’re just like

fidelity they offer many of the same

different things that fidelity does

but they also have their own type of

index fund known as the vanguard index

fund

which has pretty cheap expense ratios as

low as 0.04

they also offer retirement accounts like

the roth ira traditional brokerage

accounts you name it they have it all

the one thing that they don’t have

though is fractional shares

now in terms of their interface this is

just where i hate vanguard i cannot get

on board with their interface it’s

literally from like the 70s i don’t

really know how it works because the 70s

the internet wasn’t even invented yet

yet they still have an interface that

looks like it’s from the 70s

even i have a really hard time figuring

out how to contribute my money that’s

already in my vanguard account into my

roth ira

sometimes you have to move your money

into a money market account wait for it

to settle which could take up to five

days and then finally move it into your

roth ira

and that whole process is just very

annoying and takes a long time to figure

out

overall the entire experience of moving

your money and buying stuff on vanguard

is pretty difficult but the good thing

with vanguard is is since it’s a

long-term investment platform i’m not

doing it that often

at most once or twice a year in terms of

support they also offer email as well as

phone

and when i do call them during market

hours i’ve noticed that my average hold

time is between 5 and 15 minutes okay

the fourth brokerage on my list here is

actually weeble and weeble is a pretty

new brokerage as well they’ve been

around since i believe

2017. it’s a good choice for those that

want to be active traders because they

offer a lot of detailed charts as well

as technical indicators and in addition

to that they also have extended trading

hours so you can trade before

or after the market is open the other

thing that you can do with weibull is

open a retirement account or trade

cryptocurrencies on weeble now

personally i’m not opening a roth ira or

ira on weeble and i’m not trading

cryptocurrencies on weeble just because

it’s so new and there are better

specialized platforms

for those specific tasks weibull just

really excels in terms of trading stocks

and one of the best things about weeble

is that they have a really generous

introductory offer so if you do use my

link below in the description or any

links from any of these financial

youtubers

you do get two free stocks worth up to

eighteen hundred and fifty dollars when

you deposit a hundred dollars which is

pretty cool

now there are some cons to weeble one

they don’t offer fractional shares so if

you wanted let’s say 50

worth of airbnb you can’t do that on

weeble you have to buy the entire share

second they do have a really confusing

interface while it is a more robust

interface it’s

a lot harder for the average investor to

go in there and figure out what to do

now in terms of their support you can

email them within the app you can email

them outside of the app or you can just

call them they do have an 800 number but

reportedly from reports online it does

take around two hours to reach somebody

all right so let’s get into the fifth

best investing app and that’s actually

going to be a tie between robinhood and

wealthfront

now hear me out if this were last year i

probably would have ranked robinhood as

number one or number two on the list

just because how

easy it was to use but especially after

what happened this year

i know a lot of you guys are going to

say but humphrey why are you putting

robinhood on this list it doesn’t

deserve to be on this list they were

restricting gamestop shares and they’re

a reason why i’m not a millionaire right

now

and in fact instead of being robin hood

they’re robbing the hood so yes i did

see that i was not a fan of it and as i

uncovered more about the situation and

the fact that they had all these

collateral requirements they had to

actually meet

that kind of made me change my mind just

a little bit slightly towards robin hood

but i still acknowledge that their pr

and their communication around the whole

situation was

really awful i myself even transferred

all of my long-term holdings from robin

hood over to fidelity because of what

happened with that whole gamestop

situation back in january but here’s the

thing it’s where i still check a lot of

my ticker symbols and i just find

it the easiest app to do that with and i

also left a small portion of my money on

there for day trading and speculative

trading as well

now in terms of their actual app they

actually have one of the easiest to use

interfaces i’ve ever used in my life

it’s still really good for beginners

they offer fractional shares they have

options trading they have extended hours

for trading before

and after the market opens and closes i

really just wish they had a lot more

transparency especially when it came to

that week where they did restrict

gamestop shares

so in terms of features they’re right up

there with all the other apps they don’t

have retirement accounts but they do

offer cryptocurrency but still

i’m not probably going to be buying

cryptocurrency on robinhood

now in terms of support it’s notoriously

not that great you have to email them

and right now if they’re really really

swamped they might take a little bit

longer to get back to you the biggest

reason why robinhood is on this list is

due to the ease of how easy it is to

sign up and then within five minutes you

could just be trading stocks

so that’s robinhood and that’s also why

i’m offering up another brokerage at

number five because if you want the

complete

opposite of robinhood i have a brokerage

or investment app for that and it’s

wealthfront

wealthfront is a robo advisor that

allows you to invest for the long term

and it basically uses technology to

optimize your portfolio for long-term

investing so in terms of their features

it is pretty limited to just robo

advisory but they also offer you

different types of retirement accounts

and different types of

planning products within their platform

for a pretty reasonable management fee

of 0.25

per year on your assets they basically

manage your portfolio for you and

rebalance it for you as needed

their interface is super easy to use and

it’s one of those places where you can

really just set your money there and

kind of forget it and if you do ever

have a question you can reach them via

email or phone call

so this is the anti-day trading platform

you cannot buy individual securities

with wealthfront it is

solely for passive investments for the

long term and that’s why i want to give

you guys another option at number five

so now let’s take some time to talk

about some of the international

brokerages that are out there especially

if you’re not in the united states now i

apologize i can’t make this section more

detailed because i haven’t used any of

these other trading platforms in other

countries but these are what subscribers

and other friends of mine have

recommended to me in the past

if you’re in europe i’ve heard of many

different brokerages there but the most

popular one seems to be etoro and

there’s another one called

djiro and i don’t know if i said that

correctly or degiro

but i’ll leave them up on the screen

right now there’s another one also

called maxim and revolut so those are

four different brokerages that you can

look into if you’re in europe

if you’re in the united kingdom look

into trading two one two or free trade i

hear both of those are great i do know

free trade i think

as its name implies offers you free

trades so look into that one as well

if you’re in canada i hear that quest

rate is pretty good its fees aren’t too

high and there’s another trading app

there

called wealth simple trade and i do

believe that wealth simple is very

similar to robin hood in that regard for

australia i’ve heard that self-wealth is

pretty good

as well as another company called stake

which allows you to invest in u.s

companies

so the best way to find a good brokerage

is just to install a bunch of them

try them all out and see which one you

like the best if you are from an

international country and you have

recommendations on brokerages please

leave them in the comments below i’m

sure many people will get a lot of value

out of that

moving forward i think it’s a good

practice to have your investments spread

across many different brokerages and

that’s kind of what i’ve already started

to do

for me i have my roth ira at vanguard i

have my long-term investments at

fidelity and then i have some fun

trading money on robinhood public and

weeble if you got any value of this

video make sure to drop it a like

subscribe to my channel for more

personal finance and investing content

in the future as well as some app

reviews because i want to do those too

you’d like any of those free stocks from

any of the platforms that i’ve talked

about today i do have some links in the

description below for you guys if you’d

like to see what i invest in and be part

of the patreon community please feel

free to check me out there

and thank you to all my patrons i

appreciate you guys being here i’ll see

you guys in the next video which will

hopefully be in a couple days

peace

source: https://www.youtube.com/watch?v=KOKxyI-qVRc

Leave a Reply