Earlier, people use to rely on traditional stock brokers for their investment needs. These brokers use to charge a hefty amount for their advice or take a huge cut from your profits.
Thanks to the investment app companies, you don’t have to worry about getting hold of your broker and hoping they will give you all the information about the current market situation.
This article is for someone who wants to invest in stocks, bonds, or mutual funds. These investment apps provide you with all the data that you will need to make an informed decision. Some of them also do all the work for you.
Following are 5 best investment apps in 2019
Vault is an investment app that invests a fraction of the amount from your bank account. It is a reputed organization acquired by Acorns. Based in Portland, it was founded 4 years ago by Randy Fernando and Stefano Listella. Vault promises you safe and secure retirement years.
It is surely a highly flexible financial partner. Every time someone credits money in your bank account, Vault will save a pre-fixed amount for your retirement. It works great for people from all occupations. Whether you are a businessman, a freelancer, or an employee, Vault understands your situation and provides you with flexible investment options.
Acorns is another great investment app created by Acorns Grow, Inc. Acorns will preserve the spare change from purchases made by your credit card or debit card. It rounds off your account balance. So, you will always be investing less than a dollar with every purchase you make.
One great thing about Acorn is that you don’t need any prior knowledge of investing or stock trading. It’s like your personal investment agent that does the job for you. This is how it works: Let’s say you use your credit card to buy a book worth $9.75 from one of the online stores. Instead of $9.75, you will be billed $10 and Acorn will keep the $0.25 as an investment for your retirement.
Robinhood is a commission-free investment app created by Robinhood Markets, Inc. It is one of the few apps that do not charge for stock and options trading. They have both a mobile app and a website that can be accessed from your desktop. This app is perfect for newbie investors who are looking to trade in small quantities.
But, it doesn’t provide an in-depth stock analysis in the form of reports or charts. This is one drawback of this app. But the good thing is, you can trade Stocks, Options, ETFs, and Cryptocurrencies without paying any brokerage.
It’s difficult to start investing early in your life when you don’t have a lot of money and knowledge of the stock market. A student or a young employee cannot spend their time on learning how finance works. Especially, if they come from a different educational background. Or, in some cases, with no education at all.
If this sounds familiar you then you should definitely install Stockpile on your phone. Stockpile is tailor-made by keeping you in mind. With Stockpile, you can check reports and statistics, investigate which stocks are worthy of your attention and have total control of your account.
Stash is a direct competitor of Acorns. They both are quite similar in the way they function. You can pick and choose any company that you want to invest in. This is a unique feature that Stash provides. While other investment apps do all the work for you, Stash provides you with a bit more options. This might seem like more work for the newbie investors but it’s not.
Stash charges you $1 a month. So, it is a great option for students and investment enthusiasts who want to get their hand dirty in a risk-free way. Stash allows you to start investing in $5 per week.
To get a better idea of which app suits your needs, you can use 2-3 of these investment apps. Everyone has their own unique needs and wants. So, it will be unfair to point to a particular app and called it the best. But, these 5 investment apps are the ones that are popular among successful investors.