Stock Trading Applications You Should Know

Stock Trading Applications You Should Know

It takes time for one to familiarize themselves fully with the workings of the stock market. Before then, it can be a very daunting affair. For a beginner in stock market investing, it can take time before you are confidently able to trade without thinking of losing it all. The starting point is always the hardest because at that time, investors do not have the money or even the understanding that is required to invest like experts. That is why there are stock trading applications, meant to help investors get started. These are some of these applications that you should know about:

1. Hello money

This is a great application that allows investors to pick and choose the different stocks and funds that they want to invest in as they create their investment portfolios. There are basically over 24,000 different funds and stocks to choose from, with new ones being added to the list every day, giving investors a wide range to choose from. This is the best type of application for the savvy investors who are not afraid to try as many investments as possible.

2. Robinhood

This is a zero dollar commission brokerage firm that tries to make it easy for first time investors to invest their money in the stock market without being required to pay the typical fee. This fee can go up to 10 dollars for every trade one makes. The company is able to make money nevertheless, through its gold membership. It gives members up to two times their buying power as well as access to extra hours of trading. The company also earns some revenue from the interest collected on the cash and securities in its accounts.

3. Betterment

This is an application for those investors who need help with managing their investments. The app is basically an online investment management program from a company that wants to help investors achieve their maximum returns at different levels if risk. The company can help an investor generate higher returns than they would do if they were managing their own investments. It achieves this through portfolio diversification, lower fees as well as through automated rebalancing. The company uses an investment framework that is goal based in order to help investors stay on track and attain their long-term goals.

4. Acorns

This application is designed to help people start investing earlier in life through use of a simple investment experience. Investing through the company means investing directly in some of the major companies in the stock market. Every dollar an investor puts in is automatically diversified across so many bonds and stocks. The advantage of investing in this platform is that there are no trade fees or minimums. The prices are also very clear to the investor.

5. Wealthfront

This one is an automated investment management system that can help you invest and maximize your long-term returns. Such investment management services were in the beginning benefitting the wealthy investors, who could afford the high annual management fees. These days, any investor can enjoy its benefits. The application is web based, which means that it is easily accessible to anyone. It is also very affordable.

There is a lot that is required of an investor for him to succeed in stock investing. Such applications are meant to help them along the way. As a new investor, you may not have the time to learn everything there is in the stock market to start making smart investment decisions. That is why it will help a lot to pick a few of these applications to help you.

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