Fractional shares and dollar-cost averaging let you build a diversified portfolio with as little as $1. We ranked five apps that combine fractional share purchasing with automated recurring investing — from Fidelity's full-service platform to Acorns' hands-off round-ups.
Fractional shares and dollar-cost averaging (DCA) have democratized investing. Instead of needing hundreds or thousands of dollars to buy a single share of a high-priced stock, you can now buy a slice for as little as $1 and schedule recurring purchases on autopilot. The combination is powerful: fractional shares let you put every dollar to work regardless of share price, and DCA smooths out market timing by investing fixed amounts at regular intervals.
The best apps for this approach share four traits:
We looked at the leading apps in this space and ranked them by how well they combine these features. Here's what we found.
Fidelity is the most complete package for self-directed DCA investors. It charges $0 commissions and has no account minimum, offers fractional share trading on both stocks and ETFs, and includes expense-ratio-free index funds — a rare combination that means more of your recurring dollars stay invested rather than going to fees.1
Where Fidelity shines for DCA is its recurring investment automation. You can set up automatic transfers from a linked bank account and schedule recurring investments into specific stocks, ETFs, or mutual funds. Because fractional shares are supported, every dollar of your recurring deposit gets deployed — no cash drag from leftover amounts that couldn't buy a full share.
Fidelity also brings full-service brokerage depth: research tools, retirement accounts, a cash management account, and a well-regarded mobile app. If you want a single platform that handles DCA today and grows with you as your portfolio and needs expand, this is the pick.
Who it's for: Self-directed investors who want maximum features, no fees, and robust automation in one platform.
The tradeoff: The app is feature-dense, which can feel overwhelming for absolute beginners who just want to set up a simple recurring buy and move on.
M1 Finance takes a unique approach to portfolio construction with its "pie" system. You build a portfolio by assigning target percentages to stocks and ETFs — each holding is a "slice" of the pie — and M1 uses fractional shares to maintain your target allocation automatically.2
This makes M1 especially well-suited for DCA. When you deposit new money (on a recurring schedule or one-time), M1's dynamic allocation directs funds to underweight slices first, bringing your portfolio back toward its target without you manually deciding where each dollar goes. It's automated rebalancing built into the deposit flow — which is exactly what a hands-off DCA investor wants.
M1 charges $0 commissions and has no account minimum for its core offering. The pie system does require some upfront thought: you need to decide your target allocation before you start, which is a feature for disciplined investors but may feel like homework for someone who just wants to buy an index fund and forget about it.
Who it's for: Investors who want to define a custom target allocation and let the app handle rebalancing and new-deposit allocation automatically.
The tradeoff: Less flexibility for active trading — M1 is designed for long-term, set-and-forget portfolios, not for investors who want to react to market news.
Robinhood offers fractional shares, recurring buy automation, and $0 commissions in what is arguably the most approachable mobile interface in the category.3 If your primary goal is to open an app, set up a recurring buy in a few taps, and get on with your day, Robinhood delivers that experience cleanly.
The recurring investment feature lets you schedule automatic buys of fractional shares on a daily, weekly, biweekly, or monthly basis. Combined with $0 commissions, this makes small, frequent DCA purchases cost-effective — though it's worth noting that Robinhood has historically been lighter on research tools and educational content compared to full-service brokers like Fidelity.
Who it's for: Beginners and mobile-first investors who value a clean, fast interface and want to start DCA with minimal friction.
The tradeoff: Thinner research and analysis tools. If you outgrow simple recurring buys and want deeper portfolio management features, you may find yourself looking elsewhere.
SoFi Active Investing combines fractional shares and $0 commissions with something unusual for a free broker: access to financial advisors.4 For DCA beginners who want to set up recurring investments but also have questions about allocation, risk tolerance, or broader financial planning, this is a meaningful differentiator.
SoFi's broader ecosystem — banking, loans, credit, and investing in one app — also makes it convenient if you want to keep your financial life in one place. Fractional share support and recurring investment features let you automate DCA, while advisor access provides a safety net for when you're unsure about strategy.
Who it's for: Beginners who want fractional share DCA with the option to talk to a human advisor when they need guidance.
The tradeoff: The investing platform itself is more basic than Fidelity or M1. If you're a confident self-directed investor, the advisor access may not justify choosing SoFi over a more feature-rich alternative.
Acorns takes a different approach to DCA: instead of (or in addition to) scheduling recurring transfers, it rounds up your everyday purchases to the nearest dollar and invests the spare change into a diversified ETF portfolio.5 This is DCA at the micro level — every coffee, grocery run, or gas fill-up generates a small investment, automatically.
Acorns also supports recurring deposits for investors who want to layer traditional DCA on top of round-ups. The portfolios are pre-built and managed, so there's no stock-picking or allocation work required. It's the most hands-off option in this list.
The tradeoff is cost. Acorns charges a subscription fee of $3–$12 per month depending on the plan tier.5 For investors with small balances, a flat monthly fee can represent a meaningful percentage of assets — so it's worth doing the math. If you're investing $50/month and paying $3/month in fees, that's a 6% drag before you even account for fund expenses. For larger balances, the fee becomes proportionally smaller.
Who it's for: People who want the absolute minimum effort — no portfolio decisions, no scheduling, just passive micro-investing from daily spending.
The tradeoff: The subscription fee can be significant relative to small account balances. Calculate whether the convenience is worth the cost for your situation.
| App | Fees | Fractional Shares | DCA Automation |
|---|---|---|---|
| Fidelity | $0 commissions, $0 min | Stocks & ETFs | Recurring investments |
| M1 Finance | $0 commissions, $0 min | Stocks & ETFs | Auto-rebalancing pies |
| Robinhood | $0 commissions, $0 min | Stocks & ETFs | Recurring buys |
| SoFi | $0 commissions, $0 min | Stocks & ETFs | Recurring + advisor |
| Acorns | $3–$12/mo subscription | ETF portfolios | Round-ups + recurring |
A few other platforms offer fractional shares or automated DCA but didn't make our top five for different reasons:
The right app depends on how hands-on you want to be:
All five support the core combination — fractional shares plus automated recurring investing — so the decision really comes down to how much control you want, how much guidance you need, and whether a subscription fee is worth it for total automation.
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