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The best investing & trading apps for 2023

Investing apps add a new level of convenience and accessibility to your investment strategy.

Now you can manage your funds straight from your phone wherever and whenever you want to.  

The best investing & trading apps for 2023

So, what exactly are investing apps and what is the best investing app to suit your plans and circumstances? 

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What are investing apps? 

Many platforms offer an investment app, which you can download to your phone or tablet and use to keep track of your investment performance and activity.  

Naturally they vary in performance and type, and it’s important to remember that your core investments are what really matter, not the app. 

How do investing apps work? 

Investing apps are designed to make investing more accessible for everyone — they bring the investment world and the stock market to your smartphone.

Here are some of the key functions your app could perform: 

  • Monitoring your investments and corresponding financial portfolio 

  • Providing access to a range of assets like stocks, commodities and mutual funds 

  • Allowing you to trade stocks  

  • Giving you an up-to-date, clear view of the stock market and other markets that could be good for investing in 

An investing app removes the need for you to hire a broker to manage your investments, which is simpler and saves valuable time. 

Are investing apps safe to use? 

All the apps we recommend in this article are secure, established and provide the right levels of support and protection. 

Here’s a checklist of key questions to ask of any app you’re considering: 

  • Is the company who developed the app registered with the appropriate regulatory bodies?  

  • Is the app clear about fees? Make sure there are no hidden fees that could eat into your profits  

  • Does the app provide good customer support? You need to know that you can talk to someone if something goes wrong  

  • Are there strong security measures? These are vital for a safe, secure app  

  • What are customer reviews like? Check the reviews at the Apple App Store or Google Play 

There is always some risk when you decide to use an investment app.

This isn’t necessarily to do with the app itself, however. Your stocks can go down in value as markets fall, and short-term losses are to be expected.

Seek professional financial advice if you’re in any doubt or feel out of your depth. 

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8 of the best investing apps for 2023 

Here’s a selection of investing apps to consider if you’re an everyday investor, looking to take your first steps. 

Plum

This is a good place to start - an app that suits beginners.  

  • You can invest as little as £1, in technology, emerging markets and ethical companies 

  • Choose your comfortable risk level 

  • Rest assured — Plum is regulated by the Financial Conduct Authority (FCA) 

  • Plum's investment feature includes a monthly charge starting from £2.99 per month, a product provider fee of 0.45% on investment value and fund management fees ranging from 0.06%-1.06% (Depending on the fees you select)

Acorns

Very popular and easy to use, you link a debit or credit card to your account and Acorns rounds up your purchase to the next pound or dollar, investing the difference into exchange-traded funds [ETF] portfolios. 

  • This is retirement-focused investment without the fuss 

  • Fees are $3 per month for Acorns Personal, or $5 a month for Acorns Family, which adds investment accounts for children  

Dodl

Ideal for active investors, Dodl is provided by one of the UK’s largest investment platforms, AJ Bell. 

  • Invest from £25 – £100 per month in a Stocks and Shares ISA, Pension, Lifetime ISA or General Investment Account 

  • Choose from AJ Bell funds, themed Investments and UK Shares 

  • Fees include a monthly platform fee of 0.15 per cent of the value of your investment, fund provider fees from 0.06 per cent – 0.55 per cent and FX fees from 0.25 per cent – 0.75 per cent 

Wombat

An app that‘s ideal for small investments, you can start with just £10. 

  • Tailor a portfolio that fits your life, interests and circumstances 

  • Invest in an app where your money is Financial Services Compensation Scheme (FSCS) protected  

  • Fees include a £1 a month subscription, annual platform fee of 0.10 per cent, 0.65 per cent FX fee on GIA, 0.75 per cent on foreign shares and fund provider fees of 0.07 per cent – 0.75 per cent   

Wealthify

Here’s an app with competitive charges, which offers a lot of choice in terms of investment profile. 

  • Choose your ideal investment type – cautious, tentative, confident, ambitious or adventurous 

  • Make withdrawals from ISA or GIAs for free 

  • Enjoy FCA and FSCS protection  

  • Fees include an annual charge of 0.6 per cent and fund charges between 0.16 per cent and 0.7 per cent  

Freetrade

There are no fees on basic investment accounts, so this is where to go for some free trading. 

  • Invest in GIA, Stocks and Shares ISA or SIPP 

  • Buy UK and US stocks and ETFs 

  • Authorised and protected by the FCA and FSCS 

  • Fees are £4.99 or £9.99 a month for Stocks and Shares ISAs and FX rate of 0.45 per cent  

Nutmeg

Here’s an app that's good for 12 months of fee-free investing. Plus, it has the reassurance of being FCA registered and FSCS protected. 

  • Invest a minimum of £500, or £100 in a Junior ISA or Stocks and Shares Lifetime ISA 

  • Select your ideal investment style, from ‘socially responsible’, ‘fixed allocation’, ‘smart alpha’ and ‘fully managed’ 

  • There are no general admin fees, but account management fees range from 0.25 per cent to 0.75 per cent and there are investment fund fees 

Trading 212

Another app that provides free trading, Trading 212 also gives you a broad choice of assets. 

  • Authorised and regulated by the FCA and protected by the FSCS 

  • Supported by useful video guides 

  • Free trading 

  • The only fees are 0.5 per cent currency conversion charges on their CFD account and 0.15 per cent currency conversion charge on the Invest and ISA account  

If in doubt, seek expert advice 

It’s so easy to invest using an app that you could lose sight of the complexity and unpredictability inherent in the markets.

That’s why if you have any concerns or you’re unsure about committing to a particular strategy, you should speak to a financial adviser.

They will be able to clarify your position and suggest the best way forward.

Disclaimer: capital at risk when investing

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About the author
Our team of writers, who have decades of experience writing about personal finance, including investing, retirement and pensions, are here to help you find out what you must know about life’s biggest financial decisions.