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- 1. Compare the best micro investing apps & trading platforms in 2023
- 2. Best micro investing apps overall for 2023
- 3. What are the best micro investing apps?
- 4. Top 5 micro investing apps, reviewed
- 5. What is a micro investing app?
- 6. How do micro investing apps work?
- 7. How should I choose a micro investing app?
- 8. Should I use a micro investing app?
- 9. Methodology: How did we choose the best micro investing apps?
- 10. FAQs
Compare the best micro investing apps & trading platforms in 2023
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Micro investing apps are a great option if you want to start investing but don’t have much money to put into the market upfront. This page reviews some of the best micro investing apps and trading platforms to help you find the right one.
Best micro investing apps overall for 2023
What are the best micro investing apps?
Our experts have comprehensively reviewed the best micro investing apps available and below, you can find some of our top recommendations. Click on any of the links to get started in just minutes, or continue scrolling for reviews on each app and how to choose one.
Top 5 micro investing apps, reviewed
1. eToro. Best for beginners, copy-trading & demo-account
2900
No. assets
$10
Minimum deposit
Stocks
Platform type
Pros & Cons
Overview
We love eToro because you can trade more than 3,000 stocks, commission free. When you buy stocks on eToro, you’re buying the underlying asset, which means you can earn dividends. Or you can trade fractional shares, which means you can invest in even the most expensive stock from just $10.
As well as being a broker that offers lots of investor protection, eToro offers a very social trading experience. You can easily see what’s trending on the stock market every day, browse the latest analyst opinion about every one of those stocks, and copy other people’s trade suggestions from your desktop or the eToro app.
The fees: Stock and ETF trades are commission free. Stock CFDs are charged a 0.15% spread and overnight fees can apply. You can deposit money for free but you have to pay $5 per withdrawal, and there’s a minimum withdrawal of $30. A $10 per month activity fee is charged if you don’t log in for a year.
2. Public. Best for sharing beginner trading ideas
...
No. assets
...
Minimum deposit
Stocks
Platform type
Pros & Cons
Overview
We love Public because it’s a social platform where you can share trading tips and get ideas from other people. Public offers 9,000+ financial instruments, including cryptocurrencies and stocks from around the world.
Alongside a community of other investors all sharing their ideas, Public offers real time news and information so that you can see the full picture before you invest. And the assets don’t just include your run-of-the-mill assets; you can make alternative investments in things like handbags and comic books as well.
The fees: There are no fees for investing in stocks during regular trading hours in the US – 9.30am-4pm EST. There is a $2.99 fee for trades outside of regular hours.
What is a micro investing app?
It’s a mobile application or desktop platform that allows users to make small investments regularly, often with as little as a few pounds at a time. These apps or platforms often use a concept known as ‘dollar-cost averaging’, which involves investing a fixed amount of money at regular intervals into exchange traded funds (ETFs) or fractional shares.
How do micro investing apps work?
Micro investing apps link to your bank account and automatically invest your money into ETFs and the stock market. They operate similarly to robo advisors, where AI determines where your money is invested based on your specific goals and criteria.
Some micro investing apps also offer the ability to round up everyday purchases made with a linked bank card. These apps connect to your bank account and automatically invest your spare change into a diverse portfolio of ETFs or stocks.
How should I choose a micro investing app?
There are several factors you may want to consider when choosing a micro investing app and you should take the time to look at various different platforms before making your decision. Here’s a list of things to consider when selecting a micro investing app.
Fees
You may be charged a fee when you invest your money using a micro investing app. Most apps have fees in some way or another, so make sure you know what it will cost before signing up. Some of the fees to consider are account maintenance fees or trading fees.
Investment options
Use a micro investing app that offers the type of investments you prefer to put your money in. Most micro investing apps focus on ETFs and fractional shares, but if you want to invest in other asset classes, then make sure you check what is available before joining.
Ease of use
You’ll want to use an app that is easy to navigate and set up, especially if you’re new to investing. Most micro investing apps are easy to download and connect to your bank account, but if you’re interested in other features, make sure the app is not too complicated.
Reputation
Take the time to read online reviews from other users before committing to micro investing apps. There are many review sites where you can find other people’s experiences with a specific app or platform. Stay away from the ones with lots of negative reviews.
Minimum deposits
Most micro investing apps let you start with just a few pounds or pennies, although some require a minimum initial deposit. This can vary depending on the company and if you’re starting with a small amount of money, make sure you find the minimum initial investment.
Customer support
You want to use a platform that has good customer support. Before registering with a micro investing app, you can contact customer support to find out how responsive and helpful they are. If you ever have any questions or issues in the future, you’ll know what kind of support you’ll receive.
Should I use a micro investing app?
If you’re new to investing but don’t have much money to invest upfront, then using a micro investing app can be a good option. You can get started very quickly and easily without requiring a large investment. As these apps link to your bank account, you can even start investing your spare change, making it a very passive style of investing.
However, it’s important to remember that micro investing apps generally don’t offer a wide selection of investment options and are not really suitable for more advanced investors. You also need to consider the various fees that micro investing apps charge, which can eat into your profits.
What are the risks of using a micro investing app?
Like all types of investments, micro investing apps come with some risks, most notably market risk. The value of your investments may fluctuate in line with changes in the wider market. Additionally, micro investing apps don’t offer many of the features available on larger investing platforms and it can be difficult to diversify your portfolio with little money.
Here are a few benefits and risks of using a micro investing app to help you make up your mind.
Pros
- Get started with very little money
- Micro investing apps automatically invest for you
- Round up your everyday spending and invest your spare change
- Easy-to-use platforms mean it’s easy to get started
Cons
What are the fees for using a micro investing app?
Each micro investing app will generally have a slightly different fee structure depending on which one you choose. Some common fees that micro investing apps may charge include account maintenance fees, trading fees, withdrawal fees, and commissions. Before starting a micro investing app it’s important to read the platform’s fee schedule.
Methodology: How did we choose the best micro investing apps?
Our expert panel consists of investment experts with decades of experience behind them. They conducted extensive research and testing of all of the services involved. Testing means we have signed up, created an account, deposited and withdrawn money, and placed at least one trade.
In addition to the testing process, we have researched all of the platforms online. Together, those criteria combined to produce a series of ranking factors which have been used to produce a final list of micro investing apps.
None of the services listed on this page has influenced the order in any way. We may make an affiliate commission if you sign up and trade on an app using one of the links above. Learn more about how we make money by reading our reviews process.
FAQs
More of the best investing rankings
Invezz is a place where people can find reliable, unbiased information about finance, trading, and investing – but we do not offer financial advice and users should always carry out their own research. The assets covered on this website, including stocks, cryptocurrencies, and commodities can be highly volatile and new investors often lose money. Success in the financial markets is not guaranteed, and users should never invest more than they can afford to lose. You should consider your own personal circumstances and take the time to explore all your options before making any investment. Read our risk disclaimer >
Navigation
- 1. Compare the best micro investing apps & trading platforms in 2023
- 2. Best micro investing apps overall for 2023
- 3. What are the best micro investing apps?
- 4. Top 5 micro investing apps, reviewed
- 5. What is a micro investing app?
- 6. How do micro investing apps work?
- 7. How should I choose a micro investing app?
- 8. Should I use a micro investing app?
- 9. Methodology: How did we choose the best micro investing apps?
- 10. FAQs