In an age of increased connectedness, various apps and websites have worked hard to cut out middlemen out of the way and give more power to the average individual. The world of investing is not immune from this trend, and apps aimed at novice investors have proliferated as more young adults come of investing age. Whether you’re a curious college student or just want to see what investing is like, you can get your feet wet with some easy-to-use apps. Below are some of the best ones on the market thus far.
Motif: For some people, the ethics of the companies in which they choose to invest are tantamount. Popularized by apps on Gimlet Media, Motif is an investing platform that tells users exactly where their money is going and the kinds of businesses they’re choosing to support. Much public discourse has surrounded “divesting,” or purposefully pulling out stock money from businesses whose morals don’t align with their own. Motif makes it easy to ensure that your portfolio reflects the values important to you.
Robinhood: All those pesky fees that investors incur when they trade stocks can really add up for amateur investors or young adults just stepping into the world of stocks. Robinhood makes the process much more accessible by reducing overhead costs, thereby lowering the barriers to market and giving everyone access to the stock trade. It’s fortified with all the cybersecurity necessary to keep your data safe and backed by FINRA and SIPC. With notifications and real-time updates on the status of the market, Robinhood makes it easy for anyone to jump in.
Estimize: This past presidential election has been a good lesson to everyone about the importance of how we collect, analyze, and extrapolate information. Estimize amalgamates data from nearly 50,000 sources to give users the best possible idea for what’s going on in the market at present and what the future will hold given new information. The company boasts that its projections are more accurate than Wall Street almost 75% of the time and prides itself on its sweeping data sets and proven methodology.
Stocktwits: Just as every single industry is getting its own personal social network, so is investing. Stocktwits is the number one source for up to date info on stock performance and events that affect the stock market. Hashtags? How about Cash tags! Instead of the pound symbol, Stocktwits uses the dollar sign to categorize its tweets by company. If you’re looking for the pace of twitter and the information of wall street lights, Stocktwits is the app for you.