Investing has many benefits, especially when you start it early in life. Compared to gambling or stock market speculation, investing lets you grow your money while taking fewer risks.
Many investment apps are available in the UK, but not all of them are created equal. For example, some apps are more user-friendly than others, some offer more features, and some have lower fees. Therefore, you should do your research to find the best platform for you and your goals.
Here are the best investment apps you can use in the UK in 2022:
eToro
Launched in 2007 by three entrepreneurs, eToro is one of the leading investment platforms that provide access to many assets, including stocks, commodities, ETFs, indices, and currencies. eToro also offers a unique social trading feature that allows users to copy the trades of other successful investors on the platform.
The minimum deposit to open an account with eToro is $200, and the platform charges a variable spread starting from 2 pips. Its app is available on both Android and iOS devices, making it possible for anyone to invest anytime, anywhere. Some of its features include real-time quotes, live market updates, and the ability to set up price alerts.
One of the main reasons to invest through eToro is its user-friendly interface suitable for novice and experienced investors. The platform also offers a demo account with a virtual balance of $100,000 that can test out different investment strategies.
On eToro, investors can see each other’s portfolios and statistics and interact with them to exchange ideas, discuss strategies, and learn from their experiences. The site displays each user’s previous performance, risk score, and investment strategy, and those who meet the criteria are categorized as “Popular Investors.”
Aside from that, eToro supports over 40 cryptocurrencies and offers top-level security. Despite a currency conversion fee, investors from the UK can start trading with as little as $5. Charts, technical indicators, and many order types are also available for crypto traders.
So, if you’re looking for a user-friendly, secure, and affordable investment app in the UK, eToro is a great option.
Interactive Investor
Another great platform for beginners is Interactive Investor. The app has been growing in popularity since its launch in 2018. It has over 200,000 registered users and a great selection of features. One of the best things about the app is the ability to invest for only £1.
Interactive Investor aims for its customers to “build a better financial future together.” The app is free to use, and there are no hidden costs or commissions. You can also set up stocks & shares ISA with the app.
Interactive Investor is a wise choice for beginners as it makes things simple and easy to understand for those new to the world of investing. The customer service is also excellent, with a team of UK-based experts on hand to answer questions you may have.
InvestEngine
InvestEngine is one of the best investment apps in the UK to put your money to work and make it grow. It is a free app with which you can invest in the stock market, ETFs, and index funds with ease and without commissions.
To get started with the app, you need to deposit a minimum of £100, which you can do through a bank transfer or a debit card. Once the deposit is made, you can start investing in the UK stock market and other global markets.
The app offers a wide range of features, such as setting up a monthly investment plan, tracking your portfolio, and receiving real-time market data. In addition, it has a team of experts who can offer you guidance and support when needed.
InvestEngine also provides an excellent DIY portfolio service that automatically helps you rebalance and manage your investments. With this, you will be able to monitor your progress and make changes to your portfolio as needed.
Stake
If you’re into bitcoin and other cryptocurrencies, you should check out Stake. It offers a mobile app that allows you to buy, sell, and trade cryptocurrencies, along with a wallet where you can store your coins.
To protect its customers, Stake has published an anti-money laundering and anti-terrorist financing statement so you can be sure your money is safe. The activity includes measures to prevent, detect, and report suspicious activity, such as unusual or large transactions.
As one of the newest platforms launched this year, Stake stands out among the rest because of its user-friendly interface and competitive rates. In addition, when you sign up for an account, you get a free $10 worth of bitcoin.
MoneyBox
Are you looking for a way to make your money go further? Try investing in MoneyBox.
Ben Stanway and Charlie Mortimer launched this platform in 2015, and since then, it has helped people invest their money and grow it into something more. With this app, you can start investing with as little as £1. It also offers a wide range of investment options, including stocks and shares, ETFs, etc.
MoneyBox is perfect for first-time investors and those who want to invest little money. Aside from that, MoneyBox provides pension services to help users save for retirement; this is a great way to ensure that you have enough funds to live your golden years.
Meanwhile, in February 2022, Moneybox announced the addition of a dozen exchange-traded funds (ETFs) to its investment portfolio as it expanded its offerings. These improvements will help to make the app even more user-friendly and diversified for its growing number of customers.
If you’re looking for a simple, convenient way to invest your money, Moneybox is definitely one of the best investment apps in the UK.
Plum
Plum has proven itself as one of the best investment apps in the UK. It allows you to save and invest small amounts of money from your salary and has been designed with the help of financial experts to make sure your money is always working hard for you.
With over a million users around the globe, Plum aims to give its customers a better relationship with money. Among its strategies is to use artificial intelligence. For example, its program analyzes your bank account data to help you invest your money efficiently and discover the unrealized potential in your leftover money.
Its unique ‘round-ups’ system automatically saves your spare change from everyday transactions and invests it into a portfolio of index-tracking ETFs, without you having to think about it. It can also help you switch suppliers to save on your utility bills.
Another great thing about Plum is that it’s free to use! There are no monthly fees, and you only pay when you want to withdraw your money. The low costs make Plum an excellent option for anyone who wants to start saving and investing with minimal expense.
Best Investment Apps for Beginners
Investing can be overwhelming for beginners. After all, you likely wouldn’t know where you’ll be in five or ten years. When will you retire? Will you work full-time or part-time jobs? Will you be able to live off your investments? The list of questions goes on.
Additionally, you can never be sure where your money will be best invested. Should you be investing in stocks? What about cryptocurrency? What about real estate?
The best investment apps for beginners will take these factors into account and give you personalized recommendations for where to invest your money. They’ll also enable you to start small and gradually invest as you get comfortable with the process.
We’ve put together a list of the best investment apps for beginners in the UK. These apps will help you start investing without all the hassle.
Freetrade
As one of the leading beginner-friendly apps worldwide, Freetrade is an investing platform to watch in the UK. It offers zero-commission stock and ETF trading, as well as a simple and elegant interface that is perfect for newcomers to the world of investing.
While its primary focus is on the UK stock market, it also offers access to US stocks. So, if you’re looking for an easy way to invest in a wide range of companies, Freetrade is worth checking out. Its app is also available for Android and iOS.
One of the advantages of investing in Freetrade is its low fees. It does not charge any commission on trades, nor does it charge any account fees. Because of this, you can freely invest without worrying about compromising your profits. However, when purchasing UK shares, there is still a 0.5% stamp duty fee, and there is an additional 0.45% charge on top of the exchange rate when purchasing international shares.
Another outstanding feature of Freetrade is its ‘portfolio builder’ tool. This tool lets you easily diversify your portfolio by investing in various asset types, including stocks, ETFs, and even cryptocurrencies. While the app doesn’t have any of the extensive range of tools or calculators available on the major investing platforms, you can hold your shares in an Isa for just £3 per month.
Evestor
If you want something that you can integrate with your savings account, check out Evestor. This app offers a robot advisor service that helps you invest your money and make the most of it. You can start with as little as £1, and there are no management fees.
You can choose from a variety of Evestor accounts. For example, you can set up a SIPP (Self-Invested Personal Pension) or invest tax-free with an Evestor ISA. You can also create an Evestor GIA (General Investment Account) to make your money work harder.
What’s great about investing in Evestor is that your money is protected by the Financial Services Compensation Scheme (FSCS). Therefore, you’ll receive your money back if the company goes bankrupt. Evestor is also available on both iOS and Android devices, so you can invest on the go.
Aside from that, Evestor provides a tool called the “Evestor Score,” which indicates how your portfolio is doing. This tool is a great way to track your progress and ensure that you’re on the right path.
Best Automated Investment Apps
If you don’t have the time to learn and understand the basics of investing and looking for an easy way, then an automated investment app is perfect for you.
This kind of investing platform will allow you to set up an account, deposit money, and set your investment goals. Then, the app will automatically invest your money into a portfolio of stocks and other securities that match your goals.
There are a few different automated investment apps available in the UK, including the following:
Wealthify
With over 80,000 investors around the globe, Wealthify strives continuously as one of the leading automated investing platforms in the UK.
As a Wealthify customer, you can start with as little as £1, and the app will do the rest for you. The app makes it easy for first-time investors to start their investment journey with a simple and user-friendly interface.
To make things even better, Wealthify also offers a free financial planning service to help you make the most out of your investments. (However, the annual management fee of 0.75% will still apply.)
Moreover, in January 2022, Wealthify selected Talkdesk as a partner to provide a cloud-based contact center that would enable customers to interact with the company’s Cardiff-based care team more quickly and easily. The implementation aims to improve its customer service by providing a dedicated support line for Wealthify customers.
Another reason to choose Wealthify is that the app is authorised and regulated by the UK Financial Conduct Authority (FCA), making customers feel more secure about their investments. To sum it up, Wealthify is an excellent app for hands-off investors who want to invest straightforwardly.
Swissquote
Another automated platform you can consider is Swissquote. You’ll need to deposit a minimum of $500 to get started. After that, you can start investing based on your risk appetite.
Swissquote offers a wide range of products and services, including forex, stocks, ETFs, and other instruments. In addition, the app is well-designed and easy to navigate, which is essential as you do not want to be struggling to find your way around an investment app.
As part of its expansion into the digital-asset arena, the company will launch its trading platform for cryptocurrencies. Recently, it introduced a staking service for Tezos (XTZ), which lets users earn dividends in exchange for depositing and holding XTZ on its platform.
In addition, Swissquote is a regulated broker, which means that it’s subject to strict rules and regulations, providing a higher level of protection for your money. This also implies that the platform is likely to be around for the long term.
MoneyFarm
MoneyFarm might be pretty new to those who have been investing for a long time now, but this app does not disappoint. The platform already has over 200,000 users and has been snowballing.
What separates MoneyFarm from other investment apps is its robot advisor. This feature will automatically manage your portfolio for you according to your risk tolerance and goals.
Another tool that MoneyFarm provides is a DIY investment portfolio perfect for those just starting. It is also great for those who are busy and do not have the time to manage their profiles.
Additionally, in February 2022, Moneyfarm announced the launch of its Junior ISA (JISA), enabling users to invest up to £9,000 per year in their children’s future.
JISA matches ISA for adults, offering seven ETF portfolios with varying risk profiles. Opening a JISA requires a minimum contribution of £500, and it can be topped up by a minimum monthly contribution of £10.
All in all, MoneyFarm is one of the most user-friendly investment apps out there. The interface is straightforward, and the navigation is simple.
What’s our verdict?
eToro is our clear winner for the best investing app in the UK. The platform is user-friendly, has a wide range of features, and is perfect for those seeking to begin in the world of investments. Plus, with its social media element, investors can learn from others and see how they are performing in real-time.
After reading this article, you should now have a basic understanding of the best investment apps in the UK. If you are looking for an app to help you manage your investments, one of these apps is likely to be a good fit for you. However, remember to do your research before making any decisions and consult with a financial advisor if you have any questions.
Frequently Asked Questions
How do I invest money in the UK?
To start investing money in the UK, you must first choose a suitable investment app, a web-based application that allows you to invest your money into various assets, such as stocks, bonds, and ETFs. You can also consult a financial advisor to help you understand the ins and outs of investing and find an investment platform that fits your needs. In this way, you can be sure that you are making the best investment decisions for your unique situation.
How much money should a beginner invest for the first time?
This depends solely on your risk appetite. After all, some people are happy to take on more risks to achieve higher returns, whereas others are content with lower returns as long as their investment is more secure. You could start with a high initial investment if you can take more risks. However, if you are a beginner, we would recommend starting with a lower amount to get a feel for how an investment works and to get used to the risks involved.
Where to invest a small amount of money in the UK?
You can invest a small amount of money in the UK through the apps mentioned in this article. Investing small amounts of money can be an excellent way to get started in the investment world, as it can help lower your risk. In addition, it allows you to spread your money across several different investments.
What is the easiest investment app for beginners in the UK?
There is no right or wrong answer as to what could be the easiest investment app for beginners. After all, every investor is different, and what works for one might not work for another. However, you need to keep in mind that you want an app that will make the process as simple as possible when getting started.
What should I invest in right now as a beginner?
The best investment options for beginners vary depending on what you’re trying to achieve. Many people start with stocks, which can be a good option if you’re interested in growing your money over time. To minimize your risk, you can also invest in bonds and ETFs. However, the most important thing is to do your research before investing in anything.
How do I invest in stocks in the UK?
You can use investing apps like Swissquote to invest in stocks in the UK. You can visit their website at Swissquote.com and then click on the “Investment” tab at the top. After that, you can click on the “Create an account” button. You can also contact them if you have inquiries regarding their services.
Which stock trading site is best for beginners?
Wealthify is an excellent stock trading site for beginners. It is an online investment platform that makes it easy to start investing in various instruments, including stocks and shares. In addition, it is regulated by the Financial Conduct Authority (FCA), which means that your money is protected for up to £50,000 by the Financial Services Compensation Scheme (FSCS).
What is the best investment app in the UK for beginners?
InvestEngine is an excellent investment app for beginners, especially those with a low-risk appetite. This app offers a wide range of investment opportunities, including stocks, funds, and shares. It also has an impressive customer service team that is always available to answer your queries.