In this digital world, investing is also made easy. Just using your mobile you can check your financial portfolio. Having an app that helps you check your shares, your expenses, your bank account and guides you into making a solid investment decision all on your phone, saves you time and money. That is why major brokerage firms have developed apps that can be downloaded on iOS, windows and other operating systems.
Recently many new players have launched investment apps catering to diverse requirements of this generation. Most of these apps have been received with critical acclaim for their ease of use, personalized guidance, and learning. Some of them charge a fee on a monthly basis and some charge on a transaction basis.
Here we shortlist the best of investment apps to help you start investing and make your money work for you.
Best to begin investments with this app. They offer thousands of investment options including ETF and single stocks. There is an option of buying even a fraction of shares of any company. They also offer gift cards starting at just 5$. The recipient will start earning dividends and invariably get comfortable with investing. Therefore this app is quite popular with parents who want to teach their children about stocks and investments. There is no monthly fee for this app, but every transaction is charged a nominal fee of 99 cents.
This is the most popular app for professionals who have student loans, home loans or other debts. They don’t have to worry about saving up for investing, as Acorns does it for them every time they use their debit or credit card. Whenever the debit/credit card is used, the app uses the spare change (that is saved by using a card instead of cash) from the transaction for investing.
Vault is most suitable for self-employed people because they do not have an employer to set up an employer 401(k) retirement plan. So this app helps them to save up for their retirement. Every time a client deposits an amount to their bank account, a percentage of it is used for investing. This percentage can also be fixed such that the amount is automatically transferred from their bank account.
The one of a kind app, very minimalistic and keeping up with its name, it does not charge for any transactions. It is suitable for people who are concerned about the trading charges and for senior citizens who prefer a no-fuss user interface. It offers investment options in stocks, ETFs and cryptocurrencies only.
Coming from one of the renowned brokerages, this app is user-friendly and popular. People find it helpful to manage their portfolios. The users get an alert when their investments reach a higher price. The app has many videos to help people learn different aspects of investing. There is no deposit required to start an account but they charge a few dollars for every transaction.
Though new in its league, this app is gaining popularity. The app interface is interesting and engaging. People hesitant to start investing can consider this app to get going. This app is unique because it sets up a stock simulator world where you can invite your friends and have fun picking stocks. The game can last as long as you choose. This app makes the boring and dull investment process more fun by involving social interaction with friends and colleagues.
Stash allows you to build a diverse investment portfolio with its low-cost methods. Stash app is similar to Acorns, but it is less automated: while Acorns makes automatic investments for you, Stash teaches you how to make the best investment based on your needs and your finances. To help you get out the best out of your investment portfolio, Stash offers educational content that is customized for you.
These apps are sleek and great for beginners, especially convenient for people who do not have much time to look into their own investments or pay a broker for managing their portfolio.
Get to know the best personal finance apps of 2019!