The technology behind apps has invited everyone with a smartphone to enter entirely new worlds of information and exploration. Moreover, it has even made it simpler for those smartphone owners to figure out new ways to earn money.
One very popular type of app is the investment app. These sites allow users to enter the world of the stock market and mutual fund investing. The process is safe, secure, and available to investors on all days and nights. It is easy to transfer your funds in, make trades, and get your funds out.
All of these apps will offer you bank cards and credit cards that make it easier to conduct transactions. But, they also add to your exposure to fraud or overextension of your credit. Be careful when choosing which offers to accept.
Here are Some of the Best Investment Apps on the Market Today:
Mainvest has a slightly different target, and the goal is to invest in small businesses around the country. The minimum investment is $100, but the site suggests a target return on investment of 10-25% (not a guarantee).
The idea is that you are investing in Main Street rather than in corporations that really don’t need your investment dollar. Mainvest allows you to invest in businesses it has vetted. Investors get quarterly reports on investments. And investors get a share of the business revenue from those companies they invest in.
There is also no investment fee for Mainvest.
One of the first investment apps, Stash*, allows users to start with a $5 investment. It also allows you to invest in fractional shares of stocks. It offers a subscription service so that you add to your account as you might with a savings account. You can also get investing advice and banking services1.
1Bank Account Services provided by Green Dot Bank, Member FDIC. Fractional shares start at $0.05 for investments that cost $1,000+ per share.
There is a monthly subscription fee, starting at $1 a month, which is different depending on the services you want. But Stash has been in this industry as long as the business has its existence from the very first day, and it is well-established and has improved as it has grown.
Stash Subscription fee starts at $1/ month. You’ll also bear the standard fees and expenses reflected in the pricing of the ETFs in your account, plus fees for various ancillary services charged by Stash and the Custodian. Please see the Advisory Agreement for details. Other fees apply to the bank account. Please see the Deposit Account Agreement.
Since the beginning, Acorns has also been around. It distinguishes itself from the offer of Roundups, where you can put the extra change from purchases directly to your Acorns account. You can access advice from experts who can design a portfolio for you based on your interests and risk tolerance. Acorns have more than eight million users today.
4. Personal Capital
Backed by Empower, Personal Capital offers a dashboard where you can link all of your checking, savings, and investing accounts. It offers investment advice and wealth management advice for current and future financial planning. You can track your total net worth and your retirement planning condition. Personal Capital also offers a fee monitoring service, so you can know the total fees you are paying for your variety of accounts. It can result in consolidating some of your accounts and saving money.
5. Stock Rover
Stock Rover promotes its investment option comparison charts as the top reason to use it over the other investment apps. It compares value and safety and scores companies for quality and growth potential. It also offers clear research reports on any firm you wish to consider investing in.
Stock Rover may provide more value from an information standpoint, making it a good app for serious investors.
The Morningstar website looks like standard investor fare, but the app provides the same investing opportunity as the other sites. However, Morningstar is likely to promote mutual fund investing over short-term in-and-out trading, and it is more likely to aim for long-term investors looking for growth over the years rather than over weeks. Some criticize the Morningstar app for being less user-friendly than others.
Invstr combines investing opportunities, education, and gaming with the next generation in investing apps. Besides the investing opportunities, Invstr includes an investing fantasy stock game in which you manage a $200 billion virtual portfolio. It also includes a link to crypto investing, which is unusual among the top investment apps, and it offers a bonus for the first $100 invested in cryptocurrency funds.
Wealthfront made its name as a robo-advisor website and now runs an app that performs the same duties. But its goal is automated money management. You answer a few questions, and your funds are invested for you in response to your financial goals. It is as much an advisory service as it is an investment app.
Betterment is designed to create professionally managed portfolios focused on socially responsible exchange-traded funds for socially or environmentally conscious investors. Climate change and social impact are the aims here. Your risk tolerance best determines your investments. This is not a site aimed at short-term investing, and this is investing for a purpose beyond the bottom line.
Thanks to the recent controversy over the Gamestop takeover scandal, Robinhood remains a popular app for investors. Robinhood runs the gamut of investing opportunities with no fees, including ETFs, options, and cryptocurrency. Its app is considered one of the easiest to use and allows immediate trading with the first $1,000 you invest. Robinhood also aggregates news articles about the companies you invest in, so you have more information.
Please note: There are no guarantees on any investment you make on these apps. Also, a visit to the Better Business Bureau website can let you know if there are any problems related to the use of these apps. With all the choices and variations, it might be best to look over several apps before placing funds in any one site. And those apps are Stash, Mainvest, Acorns, personal capital, stock rover, morningstar, etc.
Paid non-client endorsement. See Apple App Store and Google Play reviews. View important disclosures.
*Offer is subject to T&Cs.* *You must complete within the specific time period included in this offer: (i) successfully complete (or already have completed, or re-apply for and complete) the registration process of opening an individual taxable brokerage account (“Personal Portfolio”), (ii) link a funding source to your account; AND (iii) deposit at least $5 from your funding source into your Personal Portfolio. *T&Cs