Technology has made our lives easier than ever, and that’s especially true when it comes to investing. Today you can find countless investing apps on your phone’s app store, meaning you have practically unlimited investing power all within your pocket. There are a lot of investing apps though, with each one having its own features and often trying to target a specific audience. Here are a few of the most popular investing apps you can try in 2022.
One of the best investing apps for people who want a simplified process and guidance is Betterment. This service offers a robo-advice program that will help you manage your assets. When you open an account, you’ll be able to tell Betterment about your goals and risk tolerance. The program will then build a portfolio for you based on this information. Unlike other investing apps, Betterment doesn’t require you to open an account to build a portfolio. Instead, it will let you select one of its prebuilt funds that are focused on different types of investments. There are also plans to launch crypto investments in the near future.
If you’re a hands-on investor, then the TD Ameritrade app can help you manage your assets. It has an easy-to-use design that makes it easy to find and analyze stocks, options, and exchange-traded funds. It also allows you to keep track of your investments through its integration with smartwatches. The app features price alerts that will notify you whenever the market changes. It also has 24/7 analysis and research, which will allow you to adjust your strategies. With no commissions on trades in stocks and exchange-traded funds, active traders can enjoy a great choice when it comes to managing their investments.
When Robinhood was first released, it was one of the first apps to provide stock trading without commissions or fees. It made it easier for first-time investors to start a stock portfolio. Although other apps have similar features, Robinhood still stands out due to its ability to trade cryptocurrency. Unlike other web-based platforms, Robinhood does not have a minimum account balance and doesn’t charge inactivity fees. Its user-friendly interface is also a major advantage, but it has a few drawbacks. For instance, it doesn’t sync with retirement accounts, and it has limited support.
One of the main advantages of Wealthfront is that it doesn’t charge a fee to make trades. It also has a $500 minimum deposit, which is great for first-time investors. However, it does charge a fee of 0.25% each year, which is definitely worth it. Another great feature of this app is that it allows people to manage their assets through an automated platform. When you first open your account, Wealthfront will ask you about your goals and then create a diversified portfolio for you. It can also manage your investments for you on your behalf. One of the main advantages of this app is that it can save more than it charges. This is because it uses automated tax-loss harvesting. With Wealthfront, people who want to be more involved in their investing can take advantage of its various features. It’s a great app for anyone who’s looking to simplify their investing process.