Investing has never been an easy game to win at. 70% of people saw their investments lose money last year, and the chances are those numbers will be similar come the end of 2016. But you shouldn’t give up hope of making money this year. There are lots of apps that can help you make more money.
The rise of mobile means more investments are being managed on the go than ever before. This guide is going to introduce you to some of the apps that can help you decide on what’s a good investment.
Acorns
The Acorns app is an ideal choice for first-time investors. You can link your credit or debit card with this app and invest the change you get. For example, if you purchase something from your card it will round the purchase up and take the remainder for your investments.
This is a great way to save money and invest your money. You never have to worry about saving up to build up your investing account again. It’s ideal if you’re not financially disciplined enough to set some money aside every so often.
Stock Market Simulator
Investing in stocks is one of the oldest ways to make money. But it’s filled with danger and the newbie can easily lose their life savings through making the wrong choice. The stock market simulator will allow you to try before you buy. You’ll play the stock market using a simulator. You’re investing $ 10,000 of virtual money.
It’s almost exactly the same as investing in stocks for real because it updates about 20 minutes behind the actual market. You can track your strategies in real-time and determine whether you’re really ready to start putting your money into the market for real.
SigFig
SigFig is a big name in the world of investing because it already has online investment tools used worldwide. The app will make it easy for you to manage your portfolio. All you need to do is sign up, take a questionnaire, and confirm your personal plan. You can then view all your different stocks, funds, and ETF’s from one screen.
This is perfect for first-time investors because one of the biggest challenges you’ll come up against is management. It’s often difficult to manage everything you’ve got in the market without getting confused.
The app is free for the first $ 10,000 in your portfolio. After that you will have to start paying a small amount for the premium version.
Motif Explorer
Talk to a stock broker and they might tell you about graphs and charts. They might even give you a recommendation. But first-time investors need to understand that stocks aren’t just graphs on a screen. They’re linked to what’s going on in the real world. Understanding what’s going on around you will give you a better idea of what you should invest in.
That’s what this app does. It investigates the various trends and world events that could yield opportunities to invest. To use this app, you need to have at least $ 250 in your account. You’ll also have to pay a commission of $ 9.95 on a portfolio of no more than 30 stocks/ETFs.
The app will allow you to monitor your performance, come up with new openings, and review past performance.
Yahoo! Finance
Yahoo might have recently been sold to Verizon, but it hasn’t impacted its existing assets. First-time investors who want to make money should take a look into this app. It’s well-designed and comes with a personalized user experience reminiscent of its weather app.
What makes this app so effective is you can link and synchronize your portfolio across multiple devices. It can even track stocks, track currencies, and keep hold of commodities. You can also program it to send you push notifications whenever a breaking news story appears.
Some would argue that this is one of the most effective apps on the market for investing in stocks and more.
Last Word – They Won’t Do the Job for You
Keep in mind that apps are not going to do the job for you. Pair your apps with a solid base elsewhere. You should be monitoring the news, speaking with your accountant, and visiting the most important websites for investors. Even if you’re new to the game, relying on apps alone can be your downfall.
These five apps can help you to do a lot. Which of these five apps do you think is the most effective for managing your investments and making sure you turn a profit this year?
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