Investing as an activity could be a very challenging task, given the strings of risk attached to it. A successful investment will take into account all the aspects that could entail from taking that decision. Taking the right decision at the right time with the right sources available, will what make the picture look very different.
Over the last few years, a number of start-ups have popped up owing to the growing demand of young investors who are more comfortable with buying stocks on their phone, rather than visiting a financial adviser. These apps are legitimate, handy and safe to start your investment portfolio with. Here is a list of some of the most popular ones in the market:
5 Best APP to start to invest from your smartphone:
Stash lets you start investing with as little as $5. There is a flat fee of 0.25% per year once your account reaches $5,000.
1) No add-on commissions or trading fees, pay only $1 per month
2) Offers 30 different themed investments to choose from
3) One can buy additional investments, diversify and monitor one’s progress.
1) High fee on small account balances
2) No management
3) High ETF expense ratios
Acorns are the 21st Century version of a piggy bank. The app helps you to save and invest the spare change as you about the day.
1) Easy to set up and free from trading in securities
2) Free for college students with a .edu address for up to four years from the date of registration.
3) A flat fee of 0.25% per year once your account reaches $5,000
1) Small investment portfolio
2) High fee on small account balances
Robinhood is a free trading app that is ideal for investors who are willing to diversify their portfolio by investing in the wide selection of stocks, options, and ETFs without paying commission.
1) No commission on stock trades
2) Simplified interface
1) No full-service online trading platform
2) No retirement accounts
Betterment is a good app for the beginners to start with and a useful one for the experienced investors. It is the largest independent robot adviser in the market.
1) Management fee: 0.25% to 0.40% depending on plan
2) No account minimum
3) Up to 1 year of free management with a minimum deposit
1) It has recently added human advisers who can assist with your retirement accounts.
2) Returns are not guaranteed and are subject to market risk
Wealthfront offers the kind of holistic financial advice and automated investment that appeals to new and experienced investors alike.
1) It uses a savings model called “Path” that was developed to help in retirement and college/home purchases.
2) It makes sure that the allocation is correct by automatic re-balancing.
3) The fee is 0.25% per year
1) Minimum investment of $500
2) The expense ratio for ETF holdings is passed on to the investors.
Investing has never been an easy task to undertake. However, with the right sources, one can easily navigate through the myriad world of investment, thus helping you to become a master of your own finances.