Five (5) Apps That Teach You How to Invest In Stocks

Knowing how to invest in stocks can be easier if you’ve programmed apps that teach you to perform complex simulations.

Over the years, we have seen many investment apps emerge, especially those that specialise in or feature stocks. 

While this is fascinating, it can also be overwhelming for newbies, even for experts, to know the more soothing apps that can enhance the smooth buying and selling of stocks.

Every app has its area of specialisation. Therefore, it is important to know what they stand for, their strengths and weaknesses before endorsing them. 

This article outlines 5 notable apps, that can aid investment, their pros and cons.

Five Apps That Teach You How to Invest In Stocks

1. Betterment
2. Charles Schwab
3. Fidelity investments
4. So Fi invest
5. Ally Invest

• Betterment

With an annual fee of 0.25(digital plan) -0.40(premium plan) percent of assets, the betterment app is one of the largest and most used Robo-advisor apps. 

They also ask relevant questions, including your risk tolerance, financial condition etc. 

It helps create a portfolio based not just on your answers but on external factors such as climatic changes. 

Pros:

• Tax-management features
• Affordable advisory fees
• Diversification in portfolio

         Cons:

• Firstly, fees for professional advice can be relatively high

 

• Ambiguous set-up processes

 

• Charles Schwab

This is an all-rounder app that benefits beginners and experts. 

It has no reoccurring charges and account minimums. It makes room for research, news and the viewing of market indices. 

     Pros:

• An automated advisor is known as Schwab Intelligent Portfolio, free of charge.
• Commendable customer services
• Free stock

      Cons:

• Some mutual funds have high fees
• It is exclusive to the US markets.

 

• Fidelity investments

This is also recommended for beginners and active traders. They serve long-term investment goals like retirement. 

One of the apps offered by Fidelity, known as the new Fidelity spire app, greatly fosters investing and saving habits so that your goals can be accomplished faster. 

       Pros:

• Free stock and ETF trading
• It also has international platforms
• Research tools of high quality
• Valuable trading ideas

       Cons:

• Robo-advisors fees are high
• Also, Slow account verification

 

• Ally Invest

Though this app is not as popular as many other apps, it is instrumental in stock investment. It gives smooth and easy access to your stocks and any type of trade at a low cost. 

       Pros

• Trading platforms are not restricted
• Robo-advisor features are available
• It makes it possible for research, scanning and charting.
• Automated portfolios
• Commission-free EFT trading and stock

        Cons:

• No allowances for fractional ownership of shares
• Sweep features are not automated
• It does not allow for DIY stock trading and is limited to EFT.

 

• SoFi Invest

SoFi is an ideal market brokerage, especially for beginners, since it is unambiguous and easy to navigate.

       Pros:

• It offers retirement and taxable accounts
• Allows for fractional shares through Stock Bits
• No account minimum

      Cons: 

•  It is only available to US residents.

 

• Limited investment choices

      Conclusion

Note that these are not all investment apps available. If you’re not satisfied with any of these, you can stick around this blog, as we would be listing more apps in the subsequent days.

Only make sure to understand these apps before usage