Investment apps have become an essential part of a millennial’s financial toolbox, but getting started can be intimidating. The terminology is complicated, and even small missteps can cost you big. This stress leads many people to sit on the sidelines instead of putting money to work, but there are tools to help them get started. The best investment apps for beginners are designed to cut through the noise and make the process as straightforward as possible, empowering newcomers with education and support that makes them feel confident in taking the plunge.Resource : theinvestorscentre.co.uk
Investment Apps 101: A Beginner’s Guide to Smart Investing
A user-friendly trading platform is key for beginner investors, as it can help prevent them from making mistakes that would erode their returns. It should also be intuitive and easy to navigate, with a clean design that doesn’t confuse them with too many options. Lastly, it’s important to consider the cost of the app — high fees can quickly eat into a strong year’s gains.
Luckily, there are plenty of low-cost options for beginning investors, including some of the top-rated apps in the App Store. Betterment, for example, charges a reasonable 0.25% management fee and offers many features that cater to beginner investors, such as a high-yield savings account and cryptocurrency portfolios.
Another option is SoFi Invest, which allows you to choose between automated investing through its robo-advisor and hands-on trading on your own. It also has a robust learning center with educational resources and a Stash Coach feature that’s both a game and an educational tool.