Today’s investment options are very different from those of previous generations. Modern technology makes it more convenient than ever for the average citizen to make investments of various kinds and at various levels. They’re an excellent way for new investors to get started with growing their money and saving for specific financial goals.
However, there’s a wide range of versatile apps that are perfect for experienced investors to build wealth, as well. Each type of app may specialize in or serve different purposes.
Here’s a list of some of the top investment apps, each with its particular strength. They all have in common the ability to take control of your investment options independently and conveniently.
Stash is an ideal investment app for beginners who want to make intelligent investments. You’ll find educational content to guide your particular goals.
The app allows you to choose a customized investment portfolio based on what you’ve learned, or you can also select one that is pre-packaged to meet particular values. Stash also lets you invest automatically at pre-determined intervals or add funds manually.
While you won’t find in-depth stock and company research here, it is an excellent place to get the basics and try your hand at investing.
If you’d prefer to invest without the research and strategy required for choosing your investments, Acorns may be the app for you. There is a small fee to invest, just $1 per month for less than $5000, and a 25 percent fee for anything over that amount.
Students use the service for free for up to four years. All users choose the managed portfolio they wish to invest in, and the choices are then made for you. It’s a convenient and low-cost way to get started investing in your future.
TD Ameritrade is a trusted name in the financial arena. This brokerage lets you download their app for free with no minimum to start making transactions. Each trade does come with a $6.95 fee.
You’ll find a range of educational videos to inform your choices, and the app will send you alerts when your trades reach a designated price point. This is a smart route for those looking for a traditional investment experience combined with today’s technology.
Robinhood is an app that allows you to trade stocks at no fee. It’s true, and that makes it perfect for those hesitant to start investing. You connect the app to your bank account and load it with the amount you wish to invest.
Each trade will be fee-free. If you wish to invest in margin accounts and to receive extended trading hours, you can opt into a premium account called Robinhood Gold. The choice is yours.
Take some time to check out these investment apps for yourself. Each of the investment apps listed above has its strengths and weaknesses. It is important to find one that matches your investing style.
You’re likely to find one that appeals to you and offers you the convenience and services you need to get started investing like a pro.