If you've been thinking of getting started with investing for a while now, then you might have been looking for ways to boost your chances of success. After all, though buying and selling shares like tesco shares might seem simple, it's more complicated than it appears.
Investment apps are growing to become one of the most popular options for beginning traders who want a quick way to get involved in the stock market. The right trading app can even help veteran investors and pattern day traders to save more money, by showing them valuable stocks under 5 dollars or making it easier to get out of a trade before it goes sour. Here are just 3 of the best apps to use for investing this year, and when you should make the most of them.
The Robinhood trading app gives you access to free stock trading options. The trades come with absolutely no commission whatsoever, which means that all you need to do is download the app, connect it to your bank account, and you'll be ready to start investing instantly. If you want to access things like extended trading hours or margin accounts too, then you can also upgrade to the premium version of the app for a slight fee. If you're on the hunt for a no-frills stock brokerage that you can manage from your smartphone, Robinhood could be the ideal option. Because the business has no physical offices, it can run a much cheaper operation, meaning more benefits for you.
If you're less of a would-be day trader and more someone who likes the idea of automating their investments to work for them, then Acorns could be the solution for you. You link a credit or debit card to the app, and Acorns automatically rounds up your transactions to the nearest dollar total. You invest the spare change, so you can start diversifying your portfolio without making a huge amount of investments. Accounts with a smaller balance of around $5,000 will only pay $1 a month for the service. Additionally, if you have a larger bank balance, the prices are still quite competitive, at around 0.25%. Acorn makes it easy to start investing on a lower level.
Finally, one of the best things you can do as a beginner in the trading world, is learn how to make the most out of your money. Stash is an investment app that allows you to learn how to make the best investment decisions for your money on a step-by-step basis. The app includes plenty of educational content that's customized to suit your preferences and risk levels. For a beginner investor, it's a great way to take slow and small initial steps into the market, without plunging yourself into too much information too fast. An account starts at $1 per month too - so you won't need to spend a fortune.
What are your favorite investment apps on the market today? Let us know in the comments below.
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