Are you interested in investing in the stock market? If that is the case then you are in good company. In the past investing was a mysterious game in which only those individuals who were knowledgeable about stocks, trading, and finance could invest. Now, investing has been put in the hands of the everyday Joe and Jane through the help of innovative investment apps. Since there are now a variety of different apps on the market, you do well to investigate those apps and find the ones that are going to best fit your investment needs. In the following article, you will find some information about some of the best investment apps on the market.
Robinhood is an investment app that has been extremely controversial lately. This is mainly due to the GameStop controversy. In general, Robinhood has been a successful app ever since its creation. Robinhood allows you to invest with no commission fees, and you can even have a zero account minimum. There are generally fees that are associated with investing, so this offers a huge bonus. Robinhood is only for those investors who are interested in bare-bones investing. It does not offer any managed portfolios or retirement accounts. All of the investments that you make in Robinhood are self-managed and taxable. This is one of the best apps to carry out individual trades for free.
Acorns is the perfect app for those individuals who would like to start investing. The general idea of Acorns is to build wealth little by little. Acorns allows you to invest with your spare change. This is the beauty of this app. It will automate the deductions from your attached accounts. Once you attach your accounts to the application, you can completely forget about it while your money grows. Acorns takes the change out of your purchases by rounding up to the next dollar and investing the difference. This is perfect for those individuals who have never invested before. Apart from investing in spare change, there is also a feature that allows you to make regular investments into your Acorns accounts. These are taken out automatically. Acorns is a free app for students, and it can cost anywhere from $1 to $3 dollars for everyone else.
Stash is an app that is similar to Acorns. It’s a great app for those who are beginning their investing journey. Stash is $3 dollars a month, and the users of this application are able to invest in retirement and brokerage accounts. By paying $6 dollars more a month, a user can also get custodial accounts and an upgraded debit card. To start a Stash account you have to begin with $5 dollars, and you are able to purchase stocks and EFTs. Stash does have a lower amount of options when it comes to EFT and stocks, but it is extremely user-friendly for new investors.
Stockpile was founded by a CEO who wanted to give his nephews and nieces an investment muscle as a gift. This is an application that allows investors to buy ETFs, Blue Chip stocks, and gift cards. This is a great investment app for parents who have kids or for other family members who are interested in helping children in their family. In order to place a trade on the Stockpile, the app charges $.99. If you want to purchase a gift card, it costs $2.99 for the first stock and for every other stock it’s $.99. The only down to the Stockpile app is that the users of this app are not able to see the projections or the portfolio of the company.
Why Not Try Investing?
The stock market is not as scary as it seemed to be in the past, there are plenty of tips on stock market investing for beginners, so you do not have to worry about being a newbie. Even if you are a person who is savvy with investments, you may also enjoy investing through these apps. These apps can be a great alternative to investing, or they can serve as an addition to your existing investment strategy.