Tuesday 27 September 2022

Top 5 Investment Apps in 2022

WebProNews
Top 5 Investment Apps in 2022

As smartphones become more and more of a part of our everyday lives, we find ourselves doing pretty much anything on them. Today smartphones are used for much more than just calling or texting. In fact, you could argue that out of all the things that we now do on our smartphones, calling and texting are the least significant.

One of the biggest things that smartphones have made easier for us is our ability to invest. Thanks to investing apps, trading stocks and keeping up with the market in real-time have never been easier. 

If you are considering starting an investment portfolio or looking for an app to make it easier to manage your current portfolio, keep reading to learn about some of the best investment apps available in 2022.

Betterment

Betterment is one of the largest and most popular robo-investing apps currently available. Don’t just take our word for it though. It has been named the best overall investing app by some of the top investment publications, including CNBC and Forbes

Betterment provides its clients with professionally managed portfolios consisting mostly of lost-cost, diversified ETFs. For their digital service, there is no minimum balance required. For those interested in their premium service, they do require a $100,000 minimum.

Invstr

If you are someone who is new to investing or looking to learn more about the market, then Invstr is a great app. Named the best app for education by Bankrate, Invstr provides helpful tools to teach you more about investing. It even offers a “fantasy” stock game where you can pick real stocks to invest in. This allows you to learn more about investing without having to risk any real money while learning. 

For those looking to invest real money, Invstr Pro is available for $3.99. Invstr Pro allows you to trade stocks, ETFs, and even crypto commission-free. All that’s required is a $5 minimum investment.

Robinhood

Robinhood completely changed the game by offering 0 commission for buying and selling stocks. By doing this, it allows investors to build their portfolios exactly how they want them. Investors can easily buy, sell, and trade not just stocks but options, ETFs, and cryptocurrency as well. Robinhood is ideal for the person who has done their own research, knows what they want, and doesn’t want to spend money on commission fees.

Binance.US

Cryptocurrency has become one of the hottest new things to invest in, especially amongst millennials and younger investors. Binance.US is an app specifically for buying and selling crypto. It was recently named the best cryptocurrency exchange by Forbes because it provides its clients with access to countless crypto options including Bitcoin and Ethereum, as well as dozens of lesser-known cryptocurrencies.

Ellevest

Many people are looking for ways to help businesses and people who are looking to make our world a better place. While charitable contributions are always a way to give back, you can also invest in socially responsible companies as well.

Ellevest has made finding and investing in these companies easier. While they specialize in working with women investors, anyone interested in socially responsible investing can start an account. 

Those investing with Ellevest can allocate up to 53% of their portfolios in ESG or social impact funds. These funds invest in companies that have women leaders, support affordable housing and community services, and have higher standards for sustainability. 

FAQs

Are Investing Apps Safe?

While there is a risk when it comes to investing, using an investing app is as safe as using a traditional brokerage firm. Your money is insured by the Securities Investor Protection Corporation for up to $500,000.

How Do I Pick The Right App For Me?

The right investing app for you is the one that provides services for whatever it is you are looking for. Before selecting an investment app, think about what it is you want to do and what you want the app to do. From there, you can narrow your search down based on any fees or commissions the app may take and select the right one for you.

How Much Money Do I Need To Open An Account?

Most investment apps these days have no minimum requirements. Even the ones that do typically offer tiers that require a very minimal balance. Before selecting an app it’s important to read all the rules and make sure if they do require a minimum balance that you can meet that requirement. 

Want To Know More About the Best Investment Apps of 2022?

At the end of the day, the best investment app is the one that best fits you and your needs. That app could be one of the ones listed above, or it could be one that we didn’t even discuss. Before choosing an investment app it is important to do your homework and make sure that the company has the services you are looking for and can match your needs. 

Top 5 Investment Apps in 2022
Brian Wallace



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