A person getting into stock market investment for the first time is quite intimidating. You do not know how the entire process goes and you are afraid of making a mistake that might cost you a fortune. This should not be the case as we have apps that are designed for first time investors with a technology that is easily understood but comprehensive. They will offer the help needed in fees comparison, suggest the best places to invest, track the flow of cash, and even offer a review on the mutual funds.
Some of these apps are:
- Acorns: This is an app designed to allow the credit card or a debit card to be linked with it, allowing rounding up of regular purchases and investing the difference in various funds carefully selected by Harry Markowitz.
Regardless of the amount of money an investor has, Acorns makes a person investing for the first time or even an experienced one invest easily and automatically.
Acorns app is favorable to a person who is investing at frequent intervals as a monthly fee is charged for the services offered. If you just deposit some money in your bank account and fail to add, the app will eat up on the bank balance. You therefore have to keep a huge bank balance or deposit regularly to maintain this investment.
- Stock market simulator: With this app, you are able to try before the actual buying; you will open an account with $10,000 and then watch while the implied stock market is updated every fifteen minutes at the back of the actual US market. You will be able to the money invested with ease.
A stock market simulator should never be a basis of making a decision to invest in the actual trading; this is a learning tool which helps a beginner investor to understand the working of a stock market without having to lose his money.
- Yahoo! Finance: The app offers the users a great and a personal experience as you can easily synchronize portfolios and quotations from multiple devices, track stocks, check on various currencies and commodities and do much more.
As a result, you will be able to invest wisely as you will have a better knowledge of the company you wish to invest in.
- CNBC: By use of this app, an investor is able to get breaking news, current quotations on the stock market, customized stock charts as well as get access to the entire CNBC programs. This will keep you informed and help you decide on the best company to invest in.
- Benzinga: With this app, you will have access to trending financial news and stock quotes that gets automatically updated by use of a mobile device. If you wish to get information on current stock quotes immediately and current quotes and even have the privilege of sharing the news on social media, this is the best app.
As much as it is wise to invest in the stock market, it is equally important to choose wisely as a wrong move may lead to huge financial losses. This is why it is important to get some of these amazing apps to help you make an informed choice.