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Great investment apps for 2020

Investment has always been a powerful tool to become financially independent and it has never been easier to find new ways to make your money work for you. Investment apps have taken power away from the brokers and made investment simpler, more affordable, and ultimately more profitable in the long term. They have even made it possible for people with limited finances to slowly grow a nest-egg.

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When it comes to investing, the vast majority is now done online. Gone are the days of calling stockbrokers or even visiting your bank for financial advice. In the modern era, when you have a need to move money from one place to another, or invest in a company, commodity, or currency, there is always an app or service for that. 2020 promises to be another year in which investment and financial services move even further into the online realm, and in turn, more people will find that investing is no longer a niche activity for the Wallstreet execs. So if you are looking to get your investment portfolio on track in the new year, here are some apps to take a look at that will help make your financial decisions that bit easier.

Simple and flexible investing in multiple markets

When it comes to day trading, websites and apps are the way forward. To keep your finger constantly on the pulse, you are going to need to have access to prices and market trends 24/7. Whilst there are plenty of apps that provide decent enough information on a single market, another example of a day trading app is EasyMarkets, which happens to allow access to Forex, Bitcoin, gold, and oil (amongst others) all under one roof. If you are an investor who wishes to dabble in more than one market, or wish to start looking further afield than the market you are familiar with, EasyMarkets is a great choice that not only gives you plenty of investment options, but also lets you practice your investments before actually trading with real cash (thanks to their handy demo account option). 

With all the bells and whistles you would expect from an investment app, EasyMarkets provides a functional, simple way to invest, wrapped up neatly in a clean-looking, easy to use application. When it comes to day trading across various markets, this app is hard to beat.

Investing done for you

For those of you who are less worried about knowing the ‘ins and outs’ of trading, but still wish to get involved with investing, there are some rather interesting apps on the market that can help you get started with small investments, but take all the hard work out of your hands. Apps such as Acorns allow you to ‘round-up’ payments that you make on a linked credit or debit card (for anything you use that card to buy) and have that money invested for you in one of five professionally managed ETF portfolios.

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Whilst this sort of investing is not likely to make you rich anytime soon, it can make you a modest amount of money, with little to no effort involved on your end, and as such is perfect for novice investors. It will allow you to start thinking about investing on a daily basis, without having to devote much time in looking out for the best investment opportunities yourself.

Invest in the children

Stockpile is an interesting application that allows you to trade shares (like plenty of other options on the market), but its USP is that you can gift shares (or portions of a share) to loved ones such as your kids, thus introducing them at a young age to the joys of financial investments. You will be in charge of the investments until they come of age, at which point they will take over control, and hopefully thank you profusely for investing in their future at a time when most other parents were frittering away money on plastic toys! If you are looking for a simple way to invest in your children’s future, give Stockpile more than just a cursory glance.

Planning for the future

Planning for the future can be a stressful and confusing part of life. Not everyone is as savvy with their money as they would like to be, and without any help, good intentions can often fall by the wayside when an unexpected expense rears its ugly head. If this sounds familiar to you, then Wealthfront may well be the app you have been waiting for.

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Wealthfront is an all-in-one finance service that lets you save, plan, and invest, in one place. Once you link your accounts to their app, you can gain insight into how financially stable your current situation is, what sort of age you can plan to retire, where you can afford to buy a home, and whether you are on track for hitting your short and long term financial goals. They also provide you with the ability to automate your investments through their software-only solution, managing your portfolio in a way that you are comfortable with. Whether you are fine with a higher-risk, higher potential arrangement, or wish to play it safe, Weathfront will adjust your custom portfolio depending on exactly how you wish to invest.

With so many options available, 2020 promises to be an exciting year for veteran and novice investors alike. Whether you are taking your first steps in the investing world, or looking to make your next fortune, all the information and functionality you could possibly need is available at the touch of a button, so find the right service for your needs, and get investing!

(Featured image by Jan Vašek from Pixabay)

DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.

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Desmond O’Flynn believes in minimalism and the power of beer. As a young reporter for some of the largest national publications, he has lived in the world of finance and investing for nearly three decades. He has since included world politics and the global economy in his portfolio. He also writes about entrepreneurs and small businesses, as well as innovation in fintech, gambling, and cannabis industries.

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