To take the reins of control over your economic destiny, investing is one way to go about it. I have highlighted 4 investment apps for beginners.
But what if you have some knowledge about making investments, you still have to admit that identifying a decent strategy, to begin with can be difficult sometimes.
The privilege of Investing is becoming ever-available to the general public as a result of technological advancements.
And almost anybody even a child can begin investing with just an application on a mobile phone.
And this makes this Investment Apps article timely and valuable information to consider.
As you begin to invest, keep in mind that there’s no such thing as a perfect investment. Each form of investment will have its own disadvantages and benefits.
Having many investments strategy makes investing easy and it also helps to curb the risks involved.
Also, it can assist in insulating profits from price fluctuations, economic chaos, and currency devaluation.
The goal here is to expose the masses to apps that make investing very safe.
Investment Apps for Beginners: 4 Cost-Effective Apps
Having real estate investments is also an investment strategy and it can help in expanding your fortune.
Making investments in this area of business was not always available to the masses except a select few due to the colossal cost associated with investing.
Fundrise’s revolutionary low-charge strategy transforms the landscape of real estate investment, allowing investor both novice and seasoned to participate.
You have the privilege of creating a Fundrise account with little money in your account. You can also choose your desired investment plan, and simply watch from the sidelines as Fundrise expands your investment opportunities in just moments.
On the Apple app Store, Fundrise has a 4.8 rating among five stars. While on the play store app, it has a rating of 4.6.
I think it’s a very good investment app for beginners.
Some Benefits of Fundrise Application:
- When it comes to payment of fees, you get a 15 percent yearly advising fee and an 85 percent yearly charge for managing investments
- With a starter account, the threshold balance is $500
- Other account categories have different minimal account fees
- Reduced charges and a least amount
- Non-experienced investors are also eligible to use the app
- A guarantee of 3 months
- Use of biometric systems for safekeeping
Some disadvantages of Fundrise Application
- Bad for brief investment periods
Investments are not subject to liquidation
2. Sofi Investment App
Another Investment Apps for Beginners is Sofi. This Investment app is among the main rated investment applications you’ll find on the iPhone App Store.
This investment app is compatible with users of all skill levels.
Newcomers can easily automate their investment and allow Sofi’s application to develop their fortune on their behalf.
Even though you’re a newbie to making investments, you have the opportunity of varying your forms of investments by deciding to invest in, cryptocurrency, stocks, etfs, etc.
You only need about a dollar to access Sofi’s services which are of low cost.
On the Apple app Store, Sofi has a 4.8 rating among five stars. While on the play store app, it has a rating of 4.1.
It’s also a good investment app for beginners.
Some Benefits of Sofi Application:
- No need to pay to use the application
- You don’t need commissions to use the application
- Sure access to multiple forms of investments
- You don’t need a ledger balance on your Sofi account
- It has algorithms to help you invest properly
- You don’t need a lot of money to trade on Sofi’s platform
- The platform isn’t hard to figure out, It’s user friendly
On the Apple app Store, stash has a 4.7 rating among five stars. While on the play store app, it has a 3.5 rating.
The app aims to ease investment for normal folks, and it is another way for novices to develop their fortune.
You can plan to invest in a preferred share using Stash’s membership plans, which begin at a dollar for the plan designed for novice and can be upgraded to a better plan at three to nine dollars each month that is if more investment choices are desired by you.
They provide a wonderful learning platform featuring pre-built content to enlighten you on proper ways to invest and brings you abreast of the latest on finance.
For added benefit, when new users register with Stash and pay up to five dollars to a Portfolio that’s private, the app also offers ten dollars toward your initial investment.
Begin by signing up with Stash and open your own account.
Some Benefits of stash Application:
- Commissions aren’t needed to trade on this application
- Costs vary from a dollar to nine dollars each month.
- There is no required threshold balance for your portfolio.
Beginners have the privilege of investing using the Stockpile app with an amount as low as five dollars.
Stockpile app is used for trading and it allows you to buy fractional shares for any price in dollars. You can also buy stocks on it using gift cards.
You have the option to pick from a wide range of exchange-traded funds and stocks without paying any charges. All that’s required is a miniscule amount of 99 cents for every trade.
Stockpile app provides tips to guide you when trading and it’s why I think it’s a very good investment app for beginners.
On the Apple app Store, stockpile has a 4.7 rating among five stars. While on the play store app, it has a rating of 4.2.
Some Benefits of stockpile Application:
- There are no fees
- The commission for every trade is 99 cents
- There is no threshold balance
- Gift cards that can be redeemed or exchanged for stocks
- You can trade fractional shares on its platform
- There are also lots of materials to help its users get familiar with trading
Final Words on Investment Apps for Beginners
Asides from the 4 listed above, there are still lots of investment apps for beginners. But you don’t need to know all investments applications to make investments.
Having sufficient knowledge of just a few will suffice. Remember, having investments can help broaden your source of income.