The advent of smartphones has made the most complex aspects of trading and investment simpler and easier to handle. This has been made possible through a number of apps that will enable you make sound financial decisions in both aspects.
While there are currently many trading and mobile investment applications on iOS, only a few are really worthwhile and profoundly useful. The following is a listing of the six best personal finance apps for your iPhone.
Best Personal Finance Apps
This application has gone on to become an invaluable resource to many trading communities i.e. independent communities and those that belong to companies such as CMC Markets. This is due to a number of reasons.
- There is no commission fee for any trades in stocks made on the app.
- What’s most unique is its simplicity. It has a magnificent user interface that enables you to easily conduct your trades and save time.
- There’s an advanced version of Robinhood called ‘Robinhood gold’ that provides clients with a line of credit and longer trading hours. This will cost every user $10 a month.
- Robinhood makes use of geolocation to recommend worthwhile stocks. It also possesses a social platform where users can share information and insight on the best available approaches.
It allows trading of a wide range of securities including mutual funds, ETF’s, stocks among others.
It possesses a steady stream of news updates from MarketWatch and Morning Star that ensures users are always reliably informed on important developments.
Related: 10 Best Apple Apps To Make Money
The various stocks can be sorted alphabetically by percentage gains, by volume, by market capitalization and by size. In order to gain more information on a particular stock, e.g. its performance overtime, one has to simply zoom on it.
The heat maps which are coded by colour for easy visibility enable you to keep track of changes in the market.
It boasts an investment tool that increases support for both bonds and options trading.
It is available to iPhone users for free but only after one has bought the desktop app.
- It will link to your accounts; conduct an analysis of your financial capabilities before providing you with an investment portfolio that suits you. You will be required to make an initial investment of only $5.
- You have the option of letting Acorns do the investments for you using your change or you can do it manually.
- All college students who use the app have the privilege of not paying any fees for services rendered for four years. They must however, possess a valid email address belonging to a recognised institution.
- Other regular users have to part with $1 a month for investment portfolios under $5000 and those above $5000 are charged $0.25 of their portfolio every year. Nevertheless, the application is free on the iOS app store.
- It provides you information on your credit score for free.
- It provides you with a detailed update on the state of your finances. By linking to all your bank accounts it provides you with information on how much money you currently have in each account and how much debt accrued by each respectively.
- It also develops budgets for you based on the spending you’ve previously done in form of different investment categories and quickly informs you when you’ve exceeded the budgeted amount. Mint is also available for free on the iOS App store.
- It has a great interface and a great format that enables you to see all your financial details on one screen.