Best Automated Investing Apps – The investment world is a big place. Check out these great investment apps and make your phone the right one for you!
Investing is difficult at first. It is basically the act of putting your money into something with the intention of making more money. There are many ways to do this, including 401k plans, stocks, mutual funds, bonds, and everything in between. Smart investors can earn extra income, retire one day, and truly take control of their finances. Here are the best investment apps for Android.
Best Automated Investing Apps
Note that this list is intended primarily for US citizens, as that is where most of our readers live. However, most of these applications are still available to people in other countries. Also, nothing in this article is financial advice. This article is for information only.
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Acorns is a great investment tool for beginners. Basically, you keep track of all your transactions, round each purchase to the next dollar, and use a few cents per purchase to invest your money. It will cost you a lot of money in the long run. The app is free for college students and has a relatively low cost for non-college students. Acorns also includes CNBC coverage, a bonus program, and more to get you started investing.
Knowledge is power and nothing is more important than knowledge in investing. In such situations, Google Search is your friend. With the touch of a button, you can search for companies, see what they say, find SEC filings, breaking news, and more. Google Search also supports promotions. You just need to find the symbol and you can see the new prices. This is more of an active investor than a passive investor because learning something quickly is the difference between a quick exit with profit or a very slow exit with loss.
Reddit is another great site for investors for many reasons. There are subreddits for different topics like personal finance, stock market, and the like. You can easily log in, ask questions, get answers and learn how investing works. Additionally, many brokers and investment firms have their own subreddits where you can interact with other clients, ask questions, and learn how their tools work. We don’t recommend following Reddit for financial advice, but it’s a great way to learn from the experiences of others.
Robinhood (linked in the button) and Webull (Google Play) are brokers that allow you to trade products on the market. Robinhood is the simpler of the two, while Webull is more stable. Both applications allow you to transfer money, sell stocks, and withdraw once the transaction is complete. You can also trade options and cryptocurrencies, the latter of which is rare in the brokerage industry. These user-friendly all-in-one solutions are often mocked for stock gaming. However, they are very easy to use. Both of these are good for dipping your toes in the stock market.
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Robo-Advisors are a clear way to invest your money. They use automated, algorithm based services to invest your money. There are many different brokers that have this feature. Some popular playlists include Fidelity (linked at the bottom), Vanguard (Google Play), and M1 Finance (Google Play). These apps allow you to trade stocks manually so you can see if you can beat your bot advisor. Prices, minimum requirements, and such vary from broker to broker. Many of these services, especially Fidelity, allow you to sell stocks, buy mutual funds, start a 401k plan, and more. These services make great investment tools.
Traditional retailers have had a bad experience on mobile devices lately. This is why Robinhood became popular in the first place. However, many brokers have simplified their user interface, making many of their trading tools accessible and reducing their costs. Some examples of traditional brokers include TD Ameritrade (linked in a button), E*Trade (Google Play) and others. Brokers not only allow you to trade on the stock market, but also regularly manage your 401k, mutual funds, and other similar investments. Before you sign up, you’ll want to make sure that any new broker account has the right features so you can make sure you can manage it all in one place.
An important part of investing is making sure you have real money to invest. For this you may need something like a wallet. Wallet is a money management and budgeting tool. You connect your bank accounts, see how your money is being spent, then try to cut back so you have more money to invest. Wallets (and similar accessories) don’t make you spend any money. However, the more you invest, the higher your earning potential. Money management is boring, but it is an important part of investing.
Wealthfront is a bit like Acorns. The difference is that you save money manually so that the service automatically invests for you. Wealthfront gives you two options. You can invest in a wallet they create or design your own. Wealthfront then does all the trading on your behalf so you can watch your money grow. We like it because it also connects your bank accounts so you can see all your financial information in one app. This will give you more power to make better financial decisions.
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Yahoo Finance is a great starting tool for investing. You are not allowed to trade or invest money. However, it is a great store to check the stock market, see the latest news, check historical trends, and other stock market indexes. Alternatively, you can link your brokerage accounts directly to Yahoo Finance, so you only need to open an app to check things. The app crashes occasionally, but in two years of use, I haven’t encountered anything bad that cost me money. We highly recommend this to Robinhood users, as Robinhood’s stock news and data feeds can be a bit lacking and improved on Yahoo Finance. There are other options in this area such as Investment.com and others. However, Yahoo Finance works well.
YouTube is a priceless investment vehicle. The app has thousands of producers who make many videos about different investments. You can learn how 401k plans work, how mutual funds work, how the stock market works, and everything else. I watched this series to learn how stock options work. Videos like these can answer many basic questions faster than other sources. Many people are speculating on stock prices and the like, but we advise you to be very careful when looking at them. Either way, this is a great place to learn the basics of investing so you can decide how to proceed.
There are various games on the Google Play Store that allow you to make money on the real stock market. You will not make real money this way. However, games like these are great educational tools that allow you to practice and learn how things work for free. There are many similar games, but some of the best ones include Investr (linked in the button), Learn by MyWallSt (Google Play), and Wealthbase (Google Play). All three games do the same. They give you fake money to make fake investments, but you are using real stock market data to do so. Games like these are great for beginners, but advanced investors may not need something like this.
If we missed any of the best investment apps for Android, tell us about them in the comments! Also, click here for a list of the latest Android games and apps. Webull is a commission-free stock and cryptocurrency trading platform. Currently, Easy Invest readers can get 12 free shares with current promotions. Open an account to get 2 free ads worth $3 to $300. Deposit any amount to receive an additional 4 to 10 free fractional shares worth $7 to $3,000. Promotion ends September 30, 2022.
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Over the past 10 years, advances in technology and algorithmic trading have enabled new types of investment tools and brokerage services to emerge.
In this article, we list the 10 best free investment apps and platforms. At Simple Investing, we have spent hundreds of hours of research reviewing and testing different investment tools and platforms.
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