It’s never too late to try investing in stocks and manage your money. While it’s hard to know where to begin, you can keep track of investments directly from your smartphone.
Here are 8 best mobile apps for investors and those who want to keep track of their balance.
Wealthfront
Wealthfront is about making investments easy, profitable and cheap. With an initial $500 upfront, Wealthfront will manage your money for you for FREE for up to 10,000 dollars. Once you exceed that amount, the fee is only 0.25% every twelve months.
Once you set up your account, the Portfolio Review Service will then evaluate your investments and make recommendations on how you can make better decisions on investments. All you have to do is answer a short survey on the site and let Wealthfront invest your money into one of twenty portfolios that matches your style, preference, and level of risk you are willing to take.
Robinhood
The Robinhood app offers free trades for millions of people to buy and sell stocks. The idea of free trades began with the launch of Robinhood in March of 2015. Here you can gain access to financial markets as well as experience in businesses. Robinhood also doesn’t require a minimum account to stay on the platform. All you will need is enough cash for one share.
Currently, the Robinhood app is available to investors in America and China.
Betterment
Is investing too hard or even time consuming? The Betterment app uses a sophisticated program that allows you to find the best and cheapest stock for you. In the taxes are also included as all you will need is $1 to begin. To get started, you must answer a few questions and let Betterment do all the work for you by investing your money and monitoring the results over time.
While traditional advisors provide a similar service, they usually charge 1% annually. With Betterment, you will only be charged 0.15% to 0.35%, depending on how much you invest. Betterment says that the managed portfolios provide a better investment for investors. Since 2008, the Betterment app already has almost 170,000 customers with a total of $4.8 billion in assets.
Personal Capital
If you want to stay on top of your stocks, investments, savings, and accounts, you can keep track of your spending in a single app. The Personal Capital is a multi-platform financial portal that compares the performance of your stocks in real-time and allows you to stay up to speed on your financial status. The app even offers professional services to those who are looking for a personalized effort to grow your investment.
Openfolio
Openfolio allows you to compare the performance of your portfolio with daily, weekly, monthly and yearly results. Not only can you take a look at your performance of the rate of more than 70,000 investors too. While you won’t know how much money they invested, you will get to see their returns and assets. Basically, you can consider this use is best used for motivation.
FeeX
The FeeX app offers one of the simplest ways to learn just how much you’re paying in fees. This free site allows you to register and link your trading and retirement accounts. You will then gain access to the sophisticated database FeeX uses to show you how high the fees on your portfolio are.
Another bonus to using FeeX is how FeeX will recommend ways to reduce your fees and how you can rollover your 401K plan to an IRA. When done right, this could save you a lot of money.
StocksTwits
With over 1.4 million users, consider StocksTwits as the Twitter of the investing world. The app is an excellent way to gauge market sentiment and hear what investors have to say about the hot stocks of the day. Users can post tweets and share their thoughts about a stock or the 500 index.
The app is completely free to use as the company even holds an annual conference for investors called Stocktoberfest to meet and socialize.
Acorns
Consider the Acorns app as the modern adult version of a piggy bank. This app will help you save money and then invest it for you. The primary benefit of the Acorns app is that when you link your debit card to the app, it will round up the purchases to the next dollar and add the extra change into your investment account.
Which app have you used? Comment below and let us know!
