THE 5 BEST INVESTMENT APPS IN 2019
The fintech industry is responsible for creating some of the most innovative investment apps to date. Many of these apps are geared toward helping beginners become familiar with the stock market. However, even experienced investors can find value in many of these tools. Stockbrokers are no longer a necessity for investing thanks to the best investment apps of 2019.
Robinhood – Best For Free Trades
Robinhood is the first investment app to offer completely free stock trades. All trades on Robinhood are executed with zero commission fees. The app makes money by offering premium services to serious traders. Robinhood Premium offers trading during extended hours and access to margin accounts. Robinhood is a great place for new investors to get a taste of the stock market without being shackled by hefty commission fees.
Acorns – Best Automated Investing
Just mention the word ‘investing’ to most people and watch their eyes glaze over. Investing doesn’t have to be an active part of life, however. Acorns is an automated investment option that rounds up everyday purchases from linked debit and credit cards. The app invests the ‘spare change’ in one of five ETF portfolios. Even better, students can use Acorns for free for up to four years.
Stash – Learn About Investing
Curious about investing and want a more hands-on approach than Acorns? Stash is a great starting point for people who want to make their own investment decisions. The Stash app includes tons of educational content to help you understand the investment world. You can even create an automated recurring investment based on your portfolio preferences.
Ally – Freelance IRA Accounts
Freelancers and self-employed individuals often don’t have access to 401k plans. Ally allows anyone to open an IRA, SEP IRA, or Roth IRA account. The Ally app automatically manages 401k contributions each time it detects a payment is deposited. Users can customize the percentage and require manual approval for each withdrawal.
Wealthfront – Wealth Management
Wealthfront helps users create a personal investment strategy that works for their tailored needs. The app invests money into 11 different ETFs and offers periodic rebalances based on market fluctuations. Wealthfront even offers college savings plans. The app is free for the first $10,000 invested; after that, it costs 0.25% per year. Wealthfront also has a $500 minimum balance requirement.