Investing can be very intimidating and high-stress in the present economy. Knowing the best broker to trust with your money can be difficult if you do not know where to look. Investing in the stock market with a purchase of BIOC stock has become a trend for new and experienced investors.
Fintech has allowed investors to invest in the comfort of their phones with finance applications. The apps help you get your finances organized and invested. Here are some top investment apps any investor should know.
Acorns
Acorns is one of the best apps for beginners as it doesn’t need a lot of money to start investing. The phone app rounds up your every purchase to the nearest dollar, then debits the change to ETFs investments. All you need to do is link the app with your credit card or checking balance. For example, your grocery shopping costs you $14.66, and you pay with your linked credit card. The price deducted from the card is $15, so Acorns uses the 34 cents to invest in the exchange-trust funds.
Acorns charges a flat fee of $1 to $5, depending on the plan you need. Their higher plans offer money advice, set you recurring retirement contributions, and provide a checking balance without minimum balance. Beginners can have a pleasant experience with the app.
Robinhood
Robinhood has an easy-to-comprehend interface as well as no commission plans for the investors. There is no minimum checking balance for all subscriptions. The app works best with investments in cryptocurrencies, individual stocks, and exchange-traded funds (ETF).
The premium package called Robinhood Gold offers unique services like investment research for investors and margin and data trading. One of the features allows the investors to borrow money with interest from Robinhood to invest further.
Ellevest
Ellevest was designed for female investors, and it aims to account for the gender pay gap. Also, it creates portfolio designs for the likelihood women live longer than men. The unique features do not hinder male investors from using it as their preferred investment app.
Their plans have a flat fee of $1 to $9, and each plan caters to individual requirements. The app’s best features include supporting 401(k) transfers and rollers, career coaching services, huge discounts for financial planning, and goal-setting options. Female investors can feel at home using this app because it is specially designed for them.
Betterment
As the name suggests, this app helps you invest your hard-earned money with specific life goals in mind. Your life gets unpredictable sometimes, and getting a financial plan to secure your future is a good option. Life goals like retirement funds, your children’s education, massive purchases like buying a home or having a wedding are what Betterment helps you achieve.
The app is paid annually with low rates (0.4%) with no minimum checking balance for basic plans. However, the premium plan has a limit of $100,000 as of the minimum checking balance. The higher tiers offer professional life advice for the investors. Betterment is a good investment app for small or large families as well as goal-oriented individuals.
Webull
Webull is one of the oldest finance apps, which let investors trade stocks for free before it was popular. Investing with Webull is still free with no-commission plans and accounts with 24/7 operation systems. Significant investments are in cryptocurrencies like Bitcoin and Litecoin, a financial field that is rapidly expanding with good investment returns.
This app helps you set up a taxable account and an IRA account, and it allows you to conduct all your financial planning with one broker. Desktop access to the app makes it easier for you to monitor your customized watch lists, check out stock market charts and manage your investments.
There is a lot an investor needs to know before getting into any investment. Researching the best trading apps that meet your individual needs is essential. Having enough knowledge of investment depends on your success or failure in the trade. Seek professional financial advice from experts to avoid unnecessary mistakes and losses.
As you deal with any investment app, make sure you understand ETFs basics, how to buy stocks, and, for beginners, the best online stock brokers. Investing is a great way to achieve financial freedom, but you need to be careful not to lose your hard-earned money and savings.
