We found 11 online brokers that are appropriate for Trading Investment Apps.
This is the era of mobile technology and mobile apps. In the wake of such technological advancement, dozens of applications are being developed and launched each day across industries and operating systems. In this article, we will narrow down our discussion to spare change investment apps, which are of course popular, but are mostly used by the younger generation looking to make money through investments.
A poll reveals that less than half of 'millennials' don't invest in the stock market, believing that they don't have ample funds to do so. They hold the conception that trading requires a lot of money.
Recently, more fintech companies and finance experts are trying to make investing easier and less costly to support beginners, so they can start trading and gradually make money.
'Bettermint', 'Wealthfront', and 'Roboadvisors' are some of the well-known and low-fee apps which manage investments wisely. In addition to these, spare change investment apps, like: 'Clink', 'Acoms', and 'Stash' are useful for young traders to start investing at a much cheaper cost.
These spare change investment apps reconfirm that large amounts of money are not needed to start buying stocks. Below are some of the advantages and disadvantages of using spare change investment apps.
The primary focus of spare change investment apps is to make the initial deposit minimal for new investors who want to start trading on the stock market. Some of these apps even facilitate starting investments with less than a dollar.
'Clink' urges traders to start with just $1 per day. This means that by just cutting down on morning coffee each day, one can become an investor.
One more significant benefit to using spare change investment apps is the low fee for having a small account. 'Clink' and 'Stash' charge a mere dollar each month, if the balance is below $5,000. The fee increases to only 0.25% if the balance is more than $5,000.
Similarly, 'Acoms' charges $1, and it can be increased to just $3 per month if the investment is done in an IRA.
Spare change investment apps are easy to use, and one can track the investment progress in an effortless way. There is no to worry about picking and trading stocks. Seeing and protecting the earnings are the unique selling propositions (USPs) of the apps.
Setting up an account is quick and investment progress is easy to track. The investment is placed into a portfolio of ETFs, but of course, at a customized risk level.
Spare change investment apps sound aluring, effective, and easy, but they have their disadvantages. Even though the investment is small, the contributing fee at the end of a month stands at 5%. This is comparatively high.
If an investor can afford investing $100 a month, it is better to set up a recurring transfer. This is best for those who are looking to retire on the investments. There are plenty more features made available by 'Acoms'. And, it is worth checking into these.
Those who have larger accounts end up paying higher fees in the long run. A calculation based on charges of 'Clink' will result in $12 per year for a balance of under $5,000.
If the balance is $50,000, the annual fee charged is 0.25%. This, as a whole, adds up to $125.
However, 'Acoms' offers unlimited investing for $1 per month. This is quite a good deal.
Unfortunately, there are not many account options. The spare change investment apps offer limited account options. However, 'Acom' is an exception. It is worth looking into its 'Later' feature, specially designed to help investors planning to use IRAs. Roth IRA, and other such tax-deferred accounts, cannot be implemented though. For long term investors, the spare change investing apps should be avoided.
Spare change investment apps are best for beginners and amateur investors, like students with limited savings who seek to avoid the complex process of investing. It is however, not recommended for long term investors.
After the account reaches $5,000, it is time to re-evaluate and understand the advantages, as well as disadvantages, of spare change investment app features, so that the earnings are not eaten up by paying higher fees.
This is never suggested for those who prefer investing in individual stocks or those who can afford greater capital— more than $5,000 annually.
To wrap up, it is important to mention that investments are made to build up wealth, and in the long run, the spare change investment apps can not produce. However, young investors can learn from it and get exposure to the market before investing more capital.
We've collected thousands of datapoints and written a guide to help you find the best Spare Change Investment Apps for you. We hope this guide helps you find a reputable broker that matches what you need. We list the what we think are the best Investment Apps below. You can go straight to the broker list here.
There are a number of important factors to consider when picking an online Investment Apps trading brokerage.
Our team have listed brokers that match your criteria for you below. All brokerage data has been summarised into a comparison table. Scroll down.
We compare these features to make it easier for you to make a more informed choice.
Here are the top Investment Apps.
Compare Investment Apps min deposits, regulation, headquarters, benefits, funding methods and fees side by side.
All brokers below are Investment Apps. Learn more about what they offer below.
You can scroll left and right on the comparison table below to see more Investment Apps that accept Investment Apps clients
Broker |
eToro
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IC Markets
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XTB
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FP Markets
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Trading212
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Plus500
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Pepperstone
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EasyMarkets
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XM
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FXPrimus
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SpreadEx
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Rating | |||||||||||
Regulation | Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID), Australian Securities and Investments Commission (ASIC) | Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) | Financial Conduct Authority (FCA), FCA number FRN 522157, Cyprus Securities and Exchange Commission (CySEC), CySEC Licence Number: 169/12, Comisión Nacional del Mercado de Valores, Komisja Nadzoru Finansowego, Belize International Financial Services Commission (IFSC) under license number IFSC/60/413/TS/19, Polish Securities and Exchange Commission (KPWiG) | Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC) | Financial Conduct Authority (FCA), Financial Supervision Commission (FSC) | Plus500UK Ltd authorized & regulated by the FCA (#509909), Plus500CY Ltd authorized & regulated by CySEC (#250/14), Plus500AU Pty Ltd (ACN 153301681), ASIC in Australia AFSL #417727, FMA in New Zealand, FSP #486026 and Authorised Financial Services Provider in South Africa FSP #47546 | Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), Federal Financial Supervisory Authority (BaFin), Dubai Financial Services Authority (DFSA), Capital Markets Authority of Kenya (CMA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of the Bahamas (SCB) number SIA-F217 | Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC) | International Financial Services Commission (IFSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC) | Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID) | Financial Conduct Authority (FCA) |
Min Deposit | 200 | 200 | No minimum deposit | 100 | 1 | 100 | 200 | 100 | 5 | 100 | 1 |
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Used By | 17,000,000+ | 60,000+ | 250,000+ | 10,000+ | 14,000,000+ | 15,500+ | 10,000+ | 142,500+ | 70,000+ | 10,000+ | 10,000+ |
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Platforms | Web Trader, Tablet & Mobile apps | MT4, MT5, Mirror Trader, ZuluTrade, Web Trader, cTrader, Mac | MT4, Mirror Trader, Web Trader, Tablet & Mobile apps | MT4, MT5, IRESS, Mac, Web Trader, Tablet & Mobile apps | Web Trader, Tablet & Mobile apps | Web Trader, Tablet & Mobile apps | MT4, MT5, Mac, ZuluTrade, Web Trader, cTrader, Tablet & Mobile apps | MT4, Web Trader, Tablet & Mobile apps | MT4, MT5, Mac, Web Trader, Tablet & Mobile apps | MT4, Mac, Mirror Trader, Web Trader, Tablet & Mobile apps | Web Trader, Tablet & Mobile apps |
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Learn More |
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Up with spreadex |
Risk Warning | 71% of retail investor accounts lose money when trading CFDs with this provider. | Losses can exceed deposits | 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. | Losses can exceed deposits | CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. | 76.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. | CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79.3% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money | Your capital is at risk | Your capital is at risk | Losses can exceed deposits | Losses can exceed deposits |
Demo |
eToro Demo |
IC Markets Demo |
XTB Demo |
FP Markets Demo |
Trading 212 Demo |
Plus500 Demo |
Pepperstone Demo |
easyMarkets Demo |
XM Demo |
FXPrimus Demo |
SpreadEx Demo |
Excluded Countries | IR, KP, BE, CA, JP, SY, TR, IL, BY, AL, MD, MK, RS, GN, CD, SD, ZW, ET, GH, TZ, LY, UG, ZM, BW, RW, TN, SO, NA, TG, SL, LR, GM, DJ, CI, PK, BN, TW, WS, NP, SG, VI, TM, TJ, UZ, LK, TT, HT, MM, BT, MH, MV, KZ, GD, FJ, BB, BM, BS, AG, AI, AW, LB, SV, US, PY, HN, GT, PR, NI, VG, AN, | AF, GN, SL, BW, IR, SY, MM, IQ, TG, KH, LS, YE, CI , LR, ZW, CU, LY, TZ, CG, ML, BO, LR, NE, AO, GM, NG, AG, GH, KR, KG, GN, SN, NA | US, IN, PK, BD, NG , ID, BE | US, JP, NZ | US | MY, BE, US, CA, CN, ID, PH, TG, NG, DO, MA, ZW, PR, TZ, TN, UG, BW, AO, AE | BR, KR, IR, IQ, SY, JP, US | US | US, CA, IL, KR, IR, MM, CU, SD, SY | AF, CI, CU, IQ, IR, LY, MM, KR, SD, PR, US, AU, SY, DZ, JP, EC. | US, TR |
You can compare Investment Apps ratings, min deposits what the the broker offers, funding methods, platforms, spread types, customer support options, regulation and account types side by side.
We also have an indepth Top Investment Apps for 2021 article further below. You can see it now by clicking here
We have listed top Investment Apps below.