There are many investment apps available today, including apps from established brokerages and new companies. These apps are designed to meet the needs of different investors, from novice investors to seasoned day traders. However, there are a few things you should keep in mind when choosing an app. Here are some things to consider: These apps need to be registered with a regulated entity such as the SEC, or they may not be legitimate. In addition, the app should be backed by a minimum account balance requirement.
Invstr – Using a social network and news feed to guide your investment decisions, Invstr allows you to make commission-free purchases of stocks and ETFs. It also lets you trade fractional shares and whole shares without any commissions. It also offers free cryptocurrency trading and has an in-built robo-advisor.
Stash – If you’re a beginner and don’t have any prior experience in investing, Stash makes it easier than ever to start investing. It’s simple to use and offers a $5 bonus when you open an account. The Stash Smart Portfolio also helps you manage your money by investing according to your risk tolerance and value. Subscription fees range from $1 to $9 per month.
Betterment – The largest independent robo-advisor, Betterment helps beginners manage their money. It asks questions about their investment goals and risk tolerance, and builds a customized portfolio of stock and bond ETFs. Betterment also lets you invest your money on autopilot with notifications. Its fees are higher than those of other robo-advisors, but they might be worth the extra convenience.