Investing is a potentially lucrative venture—but it is inherently risky, and there are no guarantees that your investments are going to pay off in the end. That is why it’s essential that you get all the help you can when making your investments. One of the best ways to make investing easier is to use an investing app; investing apps are designed to help you manage your investments with just a few taps on your smartphone or mobile device. There are a lot of investing apps out there, so we’ve narrowed it down to the top 3 that are worth your time and—if you’ll pardon the pun—investment.
Robinhood is a free app that is best if you're someone who is looking to purchase a wider variety of options, stocks, and even ETFs--all without having to pay commissions or extra fees. Robinhood currently only offers a limited selection of stocks, ETFs and (as of 2018) options, but the money and time you'll save using the app is well worth this small tradeoff.
Robinhood is the top app for this type of investing because it won't cost you a dime to use the basic Robinhood account and app. There are no trading fees, and no account minimums for standard Robinhood accounts, which means it's great for investors of all experience and financial levels. Note: There is a Robinhood Gold account option if you want to a margin account, which does have a minimum of $2,000.
Acorns is a unique investment adviser app that is best if you're a college student, someone looking to be relatively hands-off with your investments, or you are trying to save money and need help. The way that Acorns works is by rounding up all of the change accrued in your debit or credit card purchases into an investment portfolio that is entirely managed by the app.
Acorns is free for 4-years if you are a college student who has a valid ".edu" email address. Otherwise, you will need to pay $1 a month for a taxable investment account or $2 a month for an individual retirement account. You don't need to pay to sign up for an account, but there is a $5 minimum before you can begin your investment account.
Stash is an investment guide app that is designed to help people find and build investment portfolios. It allows users to search for and select different investments, including specific stocks and exchange-traded funds/ETFs, based on the level of risk, investment goals, and other pertinent factors. Stash is not a management app, as it doesn't actually manage your investment account; instead, Stash is a guide that will help you learn how to build and manage your own investment portfolio.
The service costs $1 per month for any investment account balance under $5,000; or a .25% yearly fee for any account with a balance of over $5,000. There is a $5 minimum account balance. Parents can also create investment accounts for their children, which require the same account minimum and fees.
These apps will help you to create and build your investment portfolio. You will learn more about investments and finances through tips and information that can be found in the apps. The best thing about these apps is that they come with rewards through referral programs. Find all referral codes and links here at IUNGO.