Investing in modern ages looks very different from just ten years ago. Mobile apps have become the preferred method of monitoring investments for much of the population. Information is now readily available at the touch of a button, and trades are more accessible than ever to research, place, and follow. Here are some of the best apps for investing according to the popular vote.
Robin Hood was one of the first apps on the scene to offer a free trading platform, and they truly believe in transparency. Novice and well-versed investors can get real-time stock updates and monitor many companies on one screen. Call and put options are not only available but also clearly explained. Robin Hood also features a debit card to access savings and funds not currently invested quickly.
Acorns dote on new investors, although their services have expanded to provide additional services to more seasoned investors. Flat fees range from no cost to a few dollars per month. The mobile app encourages recurring investments for those who may not have a large initial investment amount. Acorns feature a popular roundup investment option. Investors link their investment account to a debit card, which will automatically invest the change rounded up to the nearest dollar.
Beginning investors find Stash especially helpful because the app focuses heavily on education. Users build a personalized investment profile upon sign up, and Stash does the rest. They offer tips for trading and discuss the differences between short term and long term investing. Low monthly fees cover a plethora of trading options that are more than sufficient for most investors. The Stash+ option allows investors to access additional market research and investment options.
Goal-based investing has increased in popularity in recent months. This investment style is perfect for users who want a hands-off approach but do not want or cannot hire a financial advisor. There is no minimum account balance, and investors can choose a specific life event or savings and investment goal. A low to moderate annual fee is charged, but there are no monthly fees or charges to update the investment profile.