FollowBest Apps for Investors
- Stash
- Robinhood
- Acorns
- Stockpile
- E-Trade
Given technological developments, it comes as no surprise that there are now countless apps for investing. In fact, those who are interested in passive income can easily get involved without the hassle of seeking a financial advisor or physically buying securities.
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Stash
Stash is an app developed by an American company Stash Financial that is headquartered in New York. They have been around since 2015 and, given this length of operational track record, do not possess a ton of longevity. Nonetheless, within the past four years, the app established itself as one of the most dominant providers in the spheres of app-based trading. The way that it operates is based on a simple sign-up process and minuscule monthly charges to the users’ accounts. Additionally, Stash constantly increases their offering by purchasing new securities that the users can invest in.
Robinhood
With a few extra months of experience when compared to Stash, Robinhood remains one of the most popular investing apps in the world. According to Forbes, it is characterized by allowing the users to buy everything from the latest cryptocurrencies to old-fashioned stocks while imposing zero commissions. So, investors will be able to save a portion of their passive gains by taking advantage of a seemingly free platform. In addition, Robinhood is one of the simplest mobile apps that have been developed in the area of money management. Hence why it remains a very popular choice for new buyers.
Acorns
The concept of investing in amounts that are smaller than the full value of assets has been around for quite some time. Nonetheless, Acorns took this concept to a brand new level in 2012. This California-based company did so by allowing users to start investing with extremely low amounts of capital. So, someone who would like to become the shareowner of Amazon, per se, would need not spend nearly $2,000 on one of their stocks. Instead, they can spend about $20 and own 1 percent of that stock. Furthermore, Acorns offers its users the option to round up purchases and invest spare change.
Stockpile
Although Stockpile does come with a commission of 99 cents per trade, they do not have any monthly floor or ceiling rules that will mandate the number of trades or trade volume that one has to complete. As with the aforementioned, they also let buyers purchase fractional investments that are well below the full value of any given asset. Additionally, Stockpile investing app is optimized to offer many different cryptocurrencies and some of the most famous corporate stocks that exist in the world. Not to mention that the buyers can even send electronic gifts in terms of trading securities to their friends and family.
E-Trade
E-Trade mobile is an off-spring of the famous E-Trade investing brand that has been operating successfully for years. The app is present on both Apple and Android stores and comes with a plethora of investment options that have been hand-picked by seasoned specialists. The account minimum is set at $500 and there are some commissions that definitely make this platform a little less desirable than some of the previous ones. Regardless, however, people who might have experience with the online version of E-Trade are very likely to forego those minimum savings in order to still remain with the same provider.
Some other notable alternatives include Fidelity Investments, TD Ameritrade, as well as Charles Schwab. Nonetheless, most of those alternatives have requirements that make them just a tad bit less convenient than the described five apps for investing.
