Best investing apps of October 2021 – Forbes Advisor
No app we reviewed scored as high as Fidelity’s relatively new product, Spire. Designed for inexperienced traders, Spire combines savings charts and nudges with the ability to buy and sell stocks.
Spire does not have an account or minimum investment, and it offers fractional share investing, allowing you to buy less than one share of a particular security. There are no account fees and your orders are not sold to high frequency trading shops. This practice, known as sell order flow, is seen by some to cause customers to drop prices when they buy or sell investments.
Plus, you don’t need to engage in short-term buying and selling; Spire offers a range of account types outside of the normal taxable investment accounts, as you’ll find at Robinhood. His retirement and 529 accounts allow you to invest in your future and that of your children.
From a usability perspective, Spire is top notch. Not only is it easy to navigate, but it’s also packed with useful investment definitions and educational materials that will help young Warren Buffets find his way. Another benefit is the ability to coordinate with Fidelity Go, the robo-advisor service of the Boston-based investment firm, which ranks third in our ranking of top robo-advisers. As with most of the major bots, you’ll be presented with a suite of predefined portfolios that match your risk tolerance and are packed with low-cost funds.
While Spire offers indirect access to all of the investment capabilities of giant Fidelity, Forbes Advisor’s top choice for the best overall brokerage, traders wanting more esoteric options, such as commodities or cryptocurrency, will be disappointed.