Learn to play it through fintech apps.

The best mobile apps for first-time investors

April 28, 2016 / by / 0 Comment
  • SumoMe

Most of the time, to know more about investing, one has to go and consult a financial expert. However, technology has made it possible for mobile consumers to have the tools to be mobile investors as well. Thanks to many dependable apps dedicated to various aspects of investing, non-professional and would-be investors can now equip themselves with the knowledge they need to take that leap. There are now mobile apps that can help an investment newbie understand the nitty-gritty of investing.

Here are some of them:

MoneyFarm

Helmed by former Morgan Stanley and Deutsche Bank exec Paolo Galvani, MoneyFarm emulates real-life finance advisers by offering investment guides especially to those with small money to start with. What makes it different from other “robo advisors” like Betterment and Personal Capital is that it lets users directly invest their money from their devices. The money will then be put into various exchange traded funds (ETFs) according to risk investor appetite, which makes it a safe and ideal place for rookie investors.

Acorns

Acorns is the best “encourager” for those who are still having problems with letting go of their hard-earned money. This app won’t tell users to sacrifice a percentage of their savings and invest it in various publicly traded firms. Instead, it lets users invest the spare change from credit card purchases into various diversified portfolios of index funds. These index funds, propitiously, are carefully chosen by none other than  Nobel prize-winning economist Harry Markowitz, who also designed the app. Acorns is a good start for those who have little money in their pockets or those who take their credit card “excesses” for granted.

SigFig

If the sound of Nobel Prize still doesn’t make newbie investors less anxious, SigFig might be the one for them. This app gives investors freedom over choosing what portfolios they want to invest and diversify in. It also offers various online investment tools that help users track, manage, and even optimize these portfolios, making it a truly personalized investment app. It also has a built-in investment advice engine that acts like an online finance expert and push notification services for market news on industries and companies of the users’ choosing.

Born2Invest

Born2Invest is the world’s first and only multilingual app for finance news. The app doesn’t offer investment schemes and guides, but it is ideal for investors trying to understand the business world. The app curates and summarizes stories from news publishers like CNNMoney, Bloomberg, BBC, and Forbes, thus making it a perfect bible for those who wants to be updated on the latest news in global markets.

Presently, Born2Invest is available in 24 languages (English, French, Indonesian, Czech, among others) and eight editions (Australia, Canada, Singapore, UK, Philippines, US, and International)—the reason why it became a global sensation despite being only live for seven months. The app is also expected to be available in 25 more languages in 120 countries in the near future.

Kapitall

Kapitall’s main selling point is its user-friendly interface, as most investment-focused apps on the market are replete with ads and clutter. What makes it perfect for new investors is that it offers its services through gamification, in which it offers “$100,000-mock portfolio” that lets users practice and play around until they get the hang of investment and are ready to put real money in various portfolios.

The app’s uniqueness is all because of revered mobile investor Gaspard de Dreuzy. He was a video game entrepreneur before he decided to become an investment app designer, hence Kapitall’s heavy gamification leanings.

Bloomberg

Bloomberg is undeniably an authority in the finance world, but its investment app is not only built for the experts and the biggies. It’s actually catering largely to newbie investors, especially to those who are still learning the trade. The app allows users to customize their own stocks and obtain a comprehensive view of their position in a specific market. It also has a simple interface, which makes it user-friendly and highly navigable.

Bloomberg is obviously conscious of helping investors to become more market and industry-minded than just money-focused: It offers real-time news on various industries, companies, as well as on minor and major stock bourses across the globe. Certainly, it’s the perfect app for finance news and stock-market enthusiasts.

Thanks to these apps, and to the developers devoting their time in creating them, investment newbies can learn this tricky undertaking with ease. Now, finding the perfect investment guide is no longer difficult as it was back in the day. Investment apps are now ubiquitous, thus, nobody can claim the difficulty of learning how to save and grow money as a valid excuse.

 

ABOUT THE AUTHOR

I am a business journalist and culture writer focused on covering the following sectors and interests: financial stocks, biotechnology, healthcare, mining, IT and design, social media, pop culture, food and wine, TV, film and music. I sometimes write for Technology.org and Thought Catalog.