Investment applications can be very different. You can use it to track stock positions in the market, learn how to invest, or even invest yourself in a company.
In the past, it was difficult to imagine such a thing – in order to save your own money and make a deal, you needed special people, brokers, and the whole procedure was put on hold for a long time. In the era of modern technology, investment is becoming more and more common for ordinary people.
Now you can enter the market with even minimal knowledge and investment, and expand your portfolio with a few stocks. There are many convenient applications for iOS and Android, which allow you to start investing using only your smartphone. There are also applications that help you monitor the current stock situation.
You no longer need a broker or advisor to make you money. We decided to consider the top 5 best and intuitive investment apps 2020 for you, which will help you start investing.
1. Robinhood – Investment & Trading, Commission-free
Robinhood is one of the most popular investment apps that gives you access to financial markets. You can invest in stocks or funds at no cost, just using your smartphone.
For beginners and first-time investors, Robinhood has a small introductory course. It will explain what financial markets are, how to use the stock market, and which stocks are suitable for your investment.
The application provides a suite of trading tools which inform users of real-time market data. This means that you can check every time the value of a stock or currency changes, as well as receive the latest news.
In Robinhood, users track their own portfolios, can replenish them, or, conversely, sell existing assets. You can invest not only in stocks and funds but also in cryptocurrencies (bitcoin, Ethereum and others). Get all the financial information in a language you understand and make informed purchasing decisions.
2. Acorns – Invest Spare Change
Acorn is another popular investment app that has been tried by more than 7 million people. By paying a subscription of only $ 1 a month, you will be able to take full control of your investment, receive regular news updates, and automatically make a profit.
By the way, the registration of a new user really takes 5 minutes, after which you can immediately start working. Apart from the standard subscription with limited functionality, there are a few more that allow you to dive deeper into the world of financial markets.
For example, Acorns has a separate investment account feature for children, where you can invest money for the future of your family. In the same way, you can have a retirement account or a personal checking account.
You can earn income from standard or bonus investments, from which you receive a certain interest. Insurance will help you protect your money even in times of market downturn. However, it should be noted that any investment carries some risks.
3. Investmate – Learn to trade shares and derivatives
If you understand nothing about finance, we have found a true friend for you. Investmate is a mobile finance expert, who will advise you on all his knowledge in trading and finance.
You can not only become a beginner investor, but even start earning money immediately for your investment. Different courses, tests, tickets, terms and many more can be explained to users in one application. Investmate teaches you from the start, so you won’t miss a thing.
In the application, each course is designed by professionals. In the course, you will learn what CFDs are, how to trade them, as well as learn to interpret and understand financial charts. One lesson (i.e. short training) takes the user a few minutes, for which you get new information.
The most convenient thing is that on Investmate the whole interface is simple and not filled with details – only clear and necessary information. In order to consolidate your knowledge and prove it, this app offers you to periodically pass small tests after lessons.
4. Ally Mobile
If you want to have all your banking and investment tasks in your pocket, the Ally Mobile app will help you do it. The entire process of uploading, investing and tracking data is completely secure.
Only you can access your data – use biometrics to log in. Ally Mobile has managed portfolios that can invest automatically, without having to take any consulting fees or the transfer itself. You can even choose the strategy the system will invest in.
For busy people, Ally Mobile has excellent tracking features. You can have complete control over your budget, as the entire transaction history, transfers and registration history are presented here.
For some categories, you can even visualize your account to see what your money is being spent on. At Ally Mobile, you can analyze the effectiveness of your own investments, and prioritize them.
However, it is necessary to pay attention to application security. No one other than you will have access to your portfolio and information, and fraudulent transactions with this system will be impossible.
5. Personal Capital
If you’ve invested money, you need a tool to keep track of your personal finances. Personal Capital can be such a tool, and you no longer have to worry about the market.
All of your bank accounts, retirement savings and investment portfolios will come in one handy app. This way, you can track your funds from one platform at the same time. Personal Capital is more than just monitoring the market.
In a separate Personal Capital tab, you will be able to see how much money you actually have. This app collects and summarizes information about your stocks, funds and savings, so you can see the full amount immediately.
Also, statistics are always attached by month and even year – how your savings grew or fell. For each individual fund, information is published separately.
Personal Capital does not collect or store your personal information. You can see everything on the screen, but the data from your smartphone is not sent to the Internet or a remote server.