Technology is a rich, fertile boon for investors clever enough to harvest its powers in shepherding the choices they make in the market. As we know all too well, financial literacy is a tricky lesson to master, so any shortcuts and tools designed to make the information easier to digest are welcome.
A quick search for investing apps on your phone yields a lot of results, but how do you know which ones to use? We’ve done the homework for you…
Here are five of the best:
This financial software and media company has put together an app that’s loaded with features. It lets users browse quotes, stock graphs and indexes. The app allows instant access to up-to-date business news and marketing data that covers all of the international investing world. An easy-to-use portfolio tracking tool that allows you to drill down on relevant information and stats is the icing on the cake. It’s no surprise that Bloomberg makes the list. The financial industry stalwart is a leader in global business news.
Stock Quotes Live Wallpaper.
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Not so much a working app as functional wallpaper, this convenient novelty maintains a heat map of the Dow Jones Industrial Average for Android-using investors’ ongoing reference. The Dow is one of the oldest indexes and is made up of 30 large companies. The map is refreshed with a swipe of the finger (the premium version does the job automatically), and users can also set it to heat-map stocks they own or are keeping an eye on. The wallpaper settings that can be manipulated on this eye-candy app include the background color and image, the font color and transparency, and the rate at which the quotes refresh.
America’s Economy — which spent some time in the top spot in Apple’s finance category listing — provides a snapshot of the US financial system, including the latest values of the Federal Reserve’s key economic indicators. It provides pertinent data for investors who understand that staying informed about the direction of the economy is essential to any investment strategy. Among the economic indicators featured, the app measures employment, manufacturing, retail sales, international trade, and residential construction and sales.
This simple app gives users instant access to all of the stocks they are currently interested in. The app allows users to monitor stock prices for buying and selling. It also has a price-watching feature that will send you an alert on your phone if a stock reaches a predetermined price set by the user. No more babysitting stock prices all day; let the information come to you. The app is nothing fancy, but it gets the job done.
USA Today Portfolio Tracker.
This free Android app invites investors to track their portfolio by way of the data of 60-plus American brokerages. In real time, users can stay up-to-date with stocks, mutual funds, IRAs, 401ks and ETFs by way of a dashboard on their phone or tablet. Real-time charts enhance the info with performance, allocation, risk and other information. Bear in mind, though: even though the app uses bank-level encryption, users can’t make any trades or withdrawals with this app.
The app-absorbed age in which we live means one can pretty confidently imagine that developers are brainstorming ways to make our lives easier on every front, including our investment activities. There’s lots of apps to choose from and the rate they are being added makes the top 5 investing apps a constantly refreshing list. How does the above collection sit with your experience of the current crop of investing apps? Is there an app we missed that you love, and think should be up there? Let us know.