If you’re looking to start investing but aren’t sure where to begin, investment apps are a great place to start. They make investing more accessible, less intimidating, and easier to manage from the comfort of your smartphone. For beginners in the UK, many apps offer user-friendly platforms, educational resources, and low-cost options to help you grow your money over time. In this article, we’ll guide you through the best investment apps for beginners in the UK to help you take that first step into the world of investing.
1. eToro – Best for Social Trading
Overview:
eToro is a well-known investment app that caters to beginners and experienced investors alike. What sets it apart is its social trading feature, which allows you to follow and copy the trades of successful investors. This is ideal for beginners who want to learn from others while minimizing the risk of making costly mistakes.
Features:
- Social trading: You can copy the portfolios of top investors and learn from their strategies.
- Wide range of assets: eToro offers stocks, ETFs, cryptocurrencies, and more.
- No commission: eToro does not charge commissions on stock and ETF trades, making it cost-effective for beginners.
- User-friendly interface: The app’s interface is intuitive and easy to navigate, ideal for those just starting.
Best for: Beginners who want to start with a low barrier to entry and learn from others’ investment strategies.
2. Freetrade – Best for Low Fees and Easy Stock Trading
Overview:
Freetrade is a commission-free investment app that’s become a favorite among beginners in the UK. It offers a simple and easy-to-use platform for investing in a range of assets, including individual stocks, ETFs, and even investment trusts.
Features:
- No commission: Freetrade charges no commission on stock trades, which is a huge plus for beginners.
- Fractional shares: You can invest in fractional shares, meaning you don’t need to buy a full share of a high-priced stock.
- Simple design: The app’s minimalistic and intuitive design makes it easy for beginners to navigate.
- ISA accounts: You can open a Stocks and Shares ISA to benefit from tax-free returns.
Best for: Beginners who want to trade individual stocks and ETFs with low fees.
3. Wealthify – Best for Hands-Off Investors
Overview:
Wealthify is a robo-advisor investment app, perfect for beginners who don’t want to spend too much time managing their investments. The app creates a diversified portfolio for you based on your risk tolerance, financial goals, and investment timeline, and it does all the heavy lifting.
Features:
- Automated investing: Wealthify builds a diversified portfolio and automatically rebalances it for you.
- Low minimum investment: You can start with just £1, making it ideal for those new to investing.
- Risk-based portfolios: Choose from five different risk levels to match your risk appetite.
- Low fees: Wealthify charges a management fee of 0.7%, which is competitive compared to other robo-advisors.
Best for: Beginners who want a hands-off approach to investing and prefer automated, low-cost portfolio management.
4. Nutmeg – Best for Ethical Investing
Overview:
Nutmeg is another popular robo-advisor app that focuses on creating a tailored portfolio based on your investment preferences. Nutmeg stands out for its range of ethical investment options, making it an excellent choice for those who want to invest in socially responsible and sustainable companies.
Features:
- Personalized portfolios: Nutmeg offers portfolios that are tailored to your goals and risk tolerance.
- SRI portfolios: Nutmeg offers a Socially Responsible Investment (SRI) portfolio that focuses on companies with positive environmental, social, and governance practices.
- Low minimum investment: You can start with just £100.
- ISA accounts available: Nutmeg offers Stocks and Shares ISAs for tax-efficient investing.
Best for: Beginners who want to combine ethical investing with professional portfolio management.
5. Revolut – Best for Multi-Asset Investments
Overview:
Revolut is more than just a banking app—it also offers investment options. The app allows users to trade in a variety of assets, including stocks, ETFs, and even cryptocurrencies. Revolut is ideal for beginners who want to experiment with different types of investments in one app.
Features:
- Multi-asset trading: Revolut allows you to invest in a wide range of assets including stocks, ETFs, and cryptocurrencies.
- Instant trading: You can trade assets quickly and easily with no hidden fees.
- Automated investing: Revolut also offers an automated investing feature for hands-off investment management.
- User-friendly app: The app is easy to use and intuitive, which makes it a good choice for first-time investors.
Best for: Beginners who want to diversify their portfolio by investing in stocks, ETFs, and cryptocurrencies all in one app.
6. AJ Bell Youinvest – Best for DIY Investors
Overview:
AJ Bell Youinvest is a popular UK investment platform that caters to DIY investors. The app offers a range of investment options, including stocks, bonds, ETFs, and investment trusts. It’s ideal for those who want to take a more active role in managing their investments.
Features:
- Wide range of investments: AJ Bell Youinvest offers access to thousands of investment options, including UK and international stocks.
- Low fees: The platform charges a low flat fee of £1.50 per month plus 0.25% for ETFs and funds, making it cost-effective for beginner investors.
- Easy-to-use interface: The app has a clean and user-friendly interface, which is perfect for beginners who are just starting out.
- No minimum investment: You can start investing with just £1.
Best for: Beginners who want to take a hands-on approach and trade a variety of assets with low fees.
7. Moneybox – Best for Saving and Investing Together
Overview:
Moneybox offers a simple way to save and invest by rounding up your everyday purchases and investing the spare change. It’s ideal for beginners who want to ease into investing by starting small and gradually building their portfolio.
Features:
- Round-ups: Moneybox rounds up your card payments to the nearest pound and invests the change.
- Low starting amount: You can start investing with as little as £1.
- Automated portfolios: You can choose between different portfolios based on your risk level, and Moneybox will manage your investments.
- ISA and pension options: Moneybox offers Stocks and Shares ISAs and pension accounts for tax-efficient investing.
Best for: Beginners who want to invest gradually by using spare change from everyday purchases.
8. Hargreaves Lansdown – Best for Beginner-Friendly Investment Advice
Overview:
Hargreaves Lansdown is one of the UK’s largest investment brokers, and its app is ideal for beginners looking for expert advice along with a wide range of investment options. Whether you’re looking for stocks, bonds, or investment trusts, Hargreaves Lansdown offers plenty of options with the added benefit of expert research and analysis.
Features:
- Comprehensive research: The app provides access to expert investment advice and market insights.
- Wide range of assets: Choose from over 2,500 funds, ETFs, and investment trusts.
- ISA options: You can open a Stocks and Shares ISA to make your investments tax-efficient.
- Educational resources: Hargreaves Lansdown provides resources and guidance for beginners to make informed investment decisions.
Best for: Beginners who want a more hands-on approach with the option to access professional advice.
Conclusion
Starting your investment journey as a beginner can be a bit overwhelming, but with the right tools and apps, you can make the process much simpler. Whether you’re interested in hands-off investing with robo-advisors like Wealthify and Nutmeg or want to explore more active investment strategies with apps like eToro or AJ Bell Youinvest, there’s an app for every type of investor. Be sure to do your research and choose the one that aligns with your goals, risk tolerance, and investment style. Happy investing!