Choosing the Best Investing Apps

Beginning market participants may feel overwhelmed by the abundance of financial news and stock tips. To help them navigate these resources, investment apps provide real-time market data and expert analysis that can help users develop an investing strategy to meet their goals. These apps also feature stock screeners, charting abilities and educational materials that explain the fundamentals of investing, asset allocation, alternative investments and more.

Choosing the best investing apps depends on the user’s preferences and investment goals. For example, some apps are better suited for new investors than others. Some offer a variety of investment accounts, including individual brokerage accounts, retirement accounts like traditional and Roth IRAs and custodial accounts for children’s college savings. Other features include integrated banking, budgeting and financial planning capabilities.

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Robo-advisors such as Betterment and Vanguard are also popular with beginners, as they automatically invest a small amount of money in diversified ETFs that align with the investor’s risk tolerance and time horizon. The cost of these services is minimal and can be a great way to start saving.

Other apps, such as Investr and Public, have more of a focus on education and social media engagement. For instance, Investr’s Fantasy Finance feature allows users to manage a virtual portfolio for free and offers the opportunity to practice trading using virtual funds. Public has a strong social media presence and hosts live town hall meetings with business leaders to promote the company and educate its users.