Thinking of trading in the stock market but don’t know how to start? Believe it or not, trading can now be done in your very own mobile phone. If you have a smart phone that’s on the iOS, Android or Windows platform, then you can download these apps and start trading in just a few minutes. Take a look at these 5 best investing apps for beginners:
This investing app can be downloaded onto any modern mobile device you have. Benzinga is great for beginner traders as it has auto-updating stock quotes, breaking news and instant information sent right to your mobile phone. Plus, it has unique social media features such as the ability to read news articles, tweets and share content on the most popular networking channels. You can sign up for notifications, create your own stock watchlist or do a predictive quote search as well.
Once you get a feel for the Benzinga app you can upgrade to the more powerful version. Mix and match various stock trading features such as a Q&A with an expert analyst, an audio news squawk, data services and streaming news feeds, all of which are included in the upgrade.
2. TD Ameritrade
For beginner investors who want to start out slow. You won’t get overwhelmed with the TD Ameritrade app and its easy interface. The basics of stock trading details, i.e., fund transfer requests, streaming quotes, access to balance in real time, market research and a streaming news feed are included. Plus, you can take advantage of the Snapstock feature and take a barcode or picture of any item to know who the company or the brand behind that product is, plus details such as stock quotes, ticker symbols, charts and company-related news.
Need an all-in-one trading platform in the palm of your hand? SigFig is the answer. You can use the app and get 100% access to all your investments or use the built-in tools to optimize, manage and track your existing personal trade portfolios. Before you can register you’ll need to put funds on the account, set up a personalized investment plan and complete a risk profile questionnaire. All your investments are put on a single, streamlined dashboard where you’ll see all your ETFs, mutual funds, stocks and the like.
Beginner traders can optimize their portfolio with the help of SigFig’s engine or make better decisions using the app’s built-in market news and stat sheets concerning their company of choice. Keep in mind that the app manages your portfolio for the first $10,000 but only keeps track of up to 3 years’ worth of overview on brokerage accounts.
Arguably the novice trader’s choice in investment apps, Acorns has everything you’ll need to hit the ground running. First, you tie up your Acorns account to your preferred credit or debit card account. All investments and purchases are placed on a diverse portfolio spread out over index funds that are selected by Harry Markowitz himself, a Nobel Prize economist.
Investing in Acorns is quite easy and relatively painless. You’ll have an idea of what you’re doing at all times and won’t feel lost along the way. The technical stuff is handled automatically, which leaves you to the more important things such as choosing your options. Or, you can fund your Acorns account and let the engine do its job.
Acorns can be used with minimal investment, but frequent trading is where the app really shines. Keep in mind that the app charges a nominal monthly fee which is a percentage of your Acorns balance, so it’s best to move your money or lose it in the process. Thankfully, there’s an automatic investing program you can take advantage even if you’re busy with other matters.
5. Yahoo! Finance
Who would have thought that Yahoo!’s app is a great investment app for the trading novice? The interface is so sleek that users have compared it to the iOS 7’s stock app. With Yahoo! Finance, you’ll be able to get quotes and sync portfolios across multiple devices, including important details such as commodities, currencies and more. You can fire up the app and check up on your portfolio real quick or set the push notifications to get the latest news regarding companies that you’re interested in. It loads fast, is lightweight and yet robust enough to execute almost all investment actions.
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