If you’re a college student looking to start investing, choosing between different investing apps can feel overwhelming. With so many platforms available today, it’s hard to know which one is actually beginner-friendly and worth using when you’re working with limited income from a part-time job or internship.
The good news is that many modern investing apps are built specifically to help beginners start with small amounts of money. In this guide, we’ll compare some of the best investing apps for college students including Robinhood, Fidelity, Charles Schwab, and Acorns by breaking down what each platform offers, any potential fees, and who they might be best suited for.
Robinhood: One of the Most Popular Investing Apps for Beginners
Robinhood is one of the most widely used investing apps among college students because of its simplicity and mobile-first design. The app was created to make investing feel less intimidating, especially for beginners who are opening their first brokerage account.
Robinhood allows you to start investing with as little as $1 through fractional shares. This makes it one of the easiest investing apps for college students who don’t have a lot of extra money to get started.
Pros:
- No minimum deposit required
- Commission-free stock and ETF trading
- Ability to invest with fractional shares
- Simple and beginner-friendly interface
However, Robinhood does have fewer research tools compared to traditional brokerage platforms. Students who want to learn more about long-term investing strategies may find it slightly limited.
Fees:
- $0 to open an account
- $0 stock and ETF trades
- Optional Robinhood Gold membership ($5/month)
You can learn more about beginner-friendly investing apps in this guide from:
https://www.forbes.com/advisor/investing/best-investment-apps/
Fidelity: A Traditional Investing App With More Learning Tools
Fidelity is another one of the top investing apps for college students who want to take a more long-term approach to investing. While the platform may not feel as modern as Robinhood, it offers a wider range of educational resources that can help beginners better understand how investing works over time.
One major benefit of Fidelity is that students can open both a standard brokerage account and retirement accounts like a Roth IRA if they have earned income from a job or internship.
Pros:
- $0 account minimum
- Commission-free trading
- Access to Roth IRA accounts
- Strong educational resources
The main downside is that Fidelity’s interface can feel slightly more complex at first due to the number of features available.
Fees:
- $0 to open or maintain an account
- $0 stock and ETF trades
- Options trading may include small contract fees
More information about beginner investing platforms can be found here:
https://www.investopedia.com/best-brokers-for-beginners-11687695/
Charles Schwab: A Long-Term Investing App Option
Charles Schwab is another traditional brokerage that offers many of the same benefits as Fidelity. Students can open an account with no minimum deposit and take advantage of commission-free trading for stocks and ETFs.
Among investing apps, Schwab stands out for offering access to a wide range of investment options and research tools. This makes it a strong choice for students who are thinking about long-term investing rather than short-term trading.
Pros:
- No account minimum
- Commission-free trading
- Access to a wide range of investments
- Built-in research tools
Fees:
- $0 account opening fee
- $0 stock and ETF trades
- Options trading may include small contract fees
According to Schwab’s pricing page:
https://www.schwab.com/pricing
there are no fees required to open or maintain a standard brokerage account.
Acorns: One of the Most Automated Investing Apps
Acorns works a bit differently from other investing apps because it focuses on automation instead of active investing. The app allows users to round up everyday purchases and automatically invest spare change into a diversified portfolio.
This hands-off approach can be especially helpful for college students who want to build investing habits without constantly managing their account.
Pros:
- Automatically invests spare change
- Recurring investment options
- Beginner-friendly setup
The main drawback is that Acorns charges a monthly subscription fee, which may have a bigger impact if your account balance is still relatively small.
Fees:
- $3–$5 monthly subscription
- $5 minimum to start investing
You can learn more about investing small amounts of money here:
https://www.investopedia.com/how-to-buy-fractional-shares-on-webull-7499351
Choosing the Right Investing App as a College Student
There is no single best investing app for every college student. Some investing apps are better for beginners who want simplicity, while others are designed for users who want more tools and long-term investment options.
Choosing the right investing app depends on your goals, how involved you want to be, and how much money you’re able to invest consistently.
If you have any questions about which investing apps might be right for you, feel free to reach out through my 👉 Contact Page!
Written by Mason Lorenzen, Founder of Undergrad Investments
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