Investing in the Stock Market can be daunting. There are a ton of moving parts and the big players all seem like Wall Street types. The good news is, the age of the smartphone has made investing super simple and easy. Where once you might have had to contact a broker to be your proxy on the exchange, you can now just use an app. There are a ton of options out there, though. How do you know which investment app is the best? Well, we’ve got our ten favorites for you to check out!
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A well-known name in money management, Bloomberg’s app is great for investing. Combining breaking money news and investing tips, Bloomberg has it all. The app even offers personalized news, so you can watch the companies you invest in.
If you’re as interested in the “why” of the stock market as you are in making money off of it, try Bloomberg.
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Benzinga is great for investors who want insatnt information. By opening the app, you get immediate stock quotes, no need for waiting or skimming over news you don’t want. Acting as something of a punchy investment app, Benzinga is good for those who want to forge their own way. It has social media options, too, letting you share trending stock info to sites like Twitter.
Benzinga can also give you push notifications when news relevant to your investments breaks. It also offers some premium features for those who want a more in-depth experience. If you get the subscription you access features like live analysts to answer questions and audio news.
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CNBC is a great news app for those who want to see a little bit from every source. Their app is clean and user-friendly, presenting data in an immediate, digestible format. Many investors swear by the process of synthesizing news from as many sources as you can stand to read. CNBC’s app is a fantastic way to achieve such wide-ranging research without having to dig across the internet. A great resource for novices and veterans alike!
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Fidelity Investments’ app is great for more experienced investors looking to move to something more in-depth. The app offers in-depth charts and daily video coverage of market trends. It also offers notifications for when prices go above or below certain thresholds. It has a comprehensive news section and offers multiple money-management tools. This is a great choice for those who have become more adept in their online investing!
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Motif is a cool way to introduce the stock market to people who are curious about the exchange. The app’s creators track various world events to see which could cause the market to shift. Portfolios, or motifs, based on those observations are generated. For instance, they might have a profile on clean energy, and if you invest in that motif your money would be invested in various clean energy companies. The app works to find which motifs are trending upwards and help you invest accordingly.
While Motif Explorer isn’t the best for large, serious investing, it is interesting for newcomers. Consider this one if you’re interested in dipping your toe in investing.
Photo Credit: TD Ameritrade
This app gets a nod for being a great, bare-bones app with no frills. If you’re looking to not have your hand held and just start investing, check this one out. It offers real-time view of the stock exchange, mobile trading, fund exchange and other basic features.
Most notably, this app has a feature called Snapstock. This feature lets you use your phone camera to take a picture of a barcode. Then, the app pulls up the company that makes the product that barcode is attached to. That way, if you see an item in a store and think “this is going to be huge,” you can find them and invest on the fly from your phone.
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Surely, you’ve heard of these guys? Jokes aside, Yahoo! Finance has a great app for beginner investors. The app has a gorgeous, clean design reminiscent of Apple’s native iPhone stocks app. The design is personalized to your investments and offers a great dashboard to see what stocks are trending. It also features news and trending stocks at a glance. All in all, this app is great for those just starting out who want to get their stock info at a glance.
Stock Market Simulator
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This mock investment app is a stress-free simulator to show newbie investors the ropes. You start with $10,000 in virtual money with no value and can mock invest in an echo of the real stock market. The echo updates fifteen minutes behind the real exchange. While this isn’t meant to be a tool to predict actual investment trends, it is useful to show newcomers what the exchange looks like. It allows them to experiment without risking their actual money.
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This investment app is quite good for newcomers. SigFig offers advanced optimization tools for portfolios, helping you manage your money. You take a profile quiz to tell the app the ways you like to take risks with your money. You get a personalized investment plan, put money in the account, and off it goes. It’s like a digital broker!
The app also offers investment advice for first-time investors. The only downside is that it only shows you three years back of your investment, where most apps opt for five- or even ten-year retrospectives. That said, this is still an awesome choice for newcomers.
Our Favorite Beginner Investment App: Acorns
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The Acorns app is pretty awesome. This investment app works by investing your loose change into a diversified portfolio. The idea is that you set it up with your credit or debit card, and then the app rounds up your regular purchases and invests the small amounts of money in accounts recommend by Harry Markowitz. Markowitz, for his part, has won a Nobel Prize for his work as an economist, so you know your money is in good hands.
Acorns is meant to be a “set it and forget it” service, in their COO Jeff Cruttenden’s own words. The service does have a small monthly fee, but as long as you keep small amounts of money in it, you probably won’t notice it. This service is great for those who’d like to invest but don’t know where to start.
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