Investment as we all know, is a risky thing and also an expensive one. One needs to carefully choose investment applications in order to spend less on fees and more to invest. Fees don’t have to stop you from making calculated and lucrative investments.Thankfully, we live in the 21st century, and it’s time that we can do everything just by a click and investment thus have become easier and cheaper than ever.Even investing through Investment Applicationsis in a good faith for small investors rather to pay higher fees to agents. Some of the best investment applications are stated below.
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It is one of the best application for free stock trades. The word “Free” doesn’t mean “free, but with fees and other cost”. Trades have zero commission. Just download the app, connect to your bank account, fund your account and you can trade free. Robinhood is essentially no-frills online stock brokerage.
- Acorns :
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If you don’t want to think much about your investment but want to contribute regularly than acorns is the best application. It is one of the best application for automated investment. Acorns will invest your fund automatically in one of the five professionally managed ETF (Exchange Traded Fund) portfolio. Accounts with balance upto $5000 pay just $1 per month and account with a balance above $5000 pay competitive 0.25% fee. For college student with a .edu email, you can use acorns for free for upto four years from the date of registration.
- TradeHero :
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It is an application that provides safe environment to traders. It is based on market data and helps investor to invest and test their skills without much risk taking. It have different features for both android as well as IOS users.
- Vault :
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There are many options for the self-employed to invest, but one of the coolest around is Vault. Vault allows anyone to open SEP (Self Employed Pension) account .
- E-trade Mobile :
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This application is easy to use and is available with voice search options. It provides real time quotes and news from different sites and also contains advices from investment experts.
In any of the investment there is always risk of investment fraud. As in investment application there is no personal relationship between the investor and broker there are chances of fraud being done. Thus one needs to be very much careful while choosing investment application. These applications are useful for understanding matters relating to investment also they provides facility of costumer helpline and grievance solutions. They are used to understand concepts like short selling, learn about types of investments and orders, identify the pattern of any stock and analyze its growth period along with its percentage. With the help of investment applications user can understand what actual trading means and what is the difference between a trader and investor. Also these applications helps to minimize cost and invest more by giving less fees which helps in getting better returns.