Are you thinking of investing in the stock market? Good idea! Over long periods of time, the stock market has outperformed most other types of investments.
If that is indeed what you intend to do, then there are a few things that are recommended to check out before your first buy.
The stock market can be a daunting place for new investors, but with the right apps, you will feel like an old pro in no time.
For beginners, investing in the stock market can be a hard task. Stock prices keep changing and it can be hard to track the changes. For example, an investor watches the VIRT price target to see what their stocks might be worth in the future.
The stock might be up or it might be down. It is important to understand the basics and do your research before you actually make any purchase.
If you are a beginner, these apps will help you find the information you need to make well-informed investment decisions. Here are 5 great apps to help you invest in the stock market for beginners.
1. Stash
Fun, easy and smart investments for young people. This is a mobile app that allows investors as young as thirteen years old to make investments in a number of stocks and ETFs. The process is easy.
Just choose an investment strategy from one of the seven options (Conservative, Moderately Conservative, Moderate, Moderately Aggressive, Aggressive, Very Aggressive, and Not So Sure), then choose your investments!
Your Stash account is free. You can also invite friends to invest in stocks with you.
2. Robinhood
Robinhood allows investors to buy and sell stocks at no cost. The app only allows users to invest in the stock market, but there are no fees, no minimums (or maximums), and no waiting.
The app is a no-frills type of thing at the moment. It’s important to note that the app only allows users to trade U.S. listed stocks, ETFs, and options with no margin trading available as of now. You can also invest in cryptocurrencies on this platform, but you will have to pay some fees for those transactions.
There is also an automatic savings option that rounds up your account transactions and invests them for you. You can invest in many different stocks or ETFs, as well as options.
3. eToro
This app is built for a social trading network of the same name. This online investment platform is used by both beginners and active traders alike to build portfolios, share tips, trade on their own accounts, and follow the portfolios of other users.
The app will allow you to trade in the direction of the market, as well as use your own strategies. You can also add your Facebook friends to the app. It’s a social investment platform where you can copy the trades of other people in your network, perform technical analysis on charts, and view statistics about your performance.
You can set up alerts for when certain criteria are met and invest based upon those alerts. There are also opportunities to learn strategies from other users of eToro.
4. StocksTracker
This app is like a one-stop shop for all your investment needs. It allows you to view real-time quotes, read financial news, set up watchlists of stocks that you want to keep an eye on, and it will also track global economic indicators (for example changes in the FTSE 100).
There are also investment ideas! The app allows you to make your own investments, track existing investments, view your portfolio, set up alerts for when certain stocks hit specific prices or when certain events occur (such as earnings announcements), and it will even provide information on stock-related games (for example “What’s the Apple share price in Pokemon go?”).
The app also allows users to make notes and track the progress of every stock they buy. This one’s a keeper!
5. CNBC Real-Time
Finally, if you do intend on investing in the stock market, then this is a must-have app. You can watch videos from experts and “Fast Money” traders, read news, view stock quotes, watch the latest business videos from “Squawk on the Street,” Mad Money,” and more!
You can also set up alerts for when your favorite stocks hit certain prices. In addition to all of that, you can create a portfolio and track your performance with this app.
This app has many helpful tools that will help both beginners and experienced traders in their investment journey.
Warp-up
Using the above apps will help you take your first steps towards investing, but it is important to remember that these investments are speculative and the values can go down as well as up.
Investing in shares should be regarded as a long-term investment. You should aim to invest for the long-term while you are learning about investing. Once you have more experience, you might want to think about investing in individual stocks or actively managed funds.
