When investing in stocks, one may often stumble upon questions like is investing through apps as safe as investing through traders, brokers and other agents? The traditional approach towards investing has always been through third party agents, via family friends or any other trusted parties. However, investing has also started to go online. Many companies are now launching their apps in order to target the millennial generation. The safety of the app mainly depends upon the source of the app and the authenticity of the company, hence this question cannot be answered completely by anybody. Here are a few advantages that you can enjoy while investing through apps :
- Accuracy – Most of the apps that are available in the market are backed by automated systems that are created by top research analysts. Hence the room for error is very low or negligible. The predictions are calculated by algorithms of these apps for your portfolio across a time period, fluctuations of the market etc. Hence using apps reduces the possibility of human error and inaccuracy.
- Paperless – This may not be a very strong reason economically, but environmentally this makes a huge impact. All the documents and files that are required for investments require tons of paper which ultimately meets the shredder. This can be reduced to zero, by using investment apps. All the transactions are paperless and can be stored forever.
- Simple – For beginners investing can be a difficult task. Managing all the documents, filling out lengthy forms etc can be tricky and lengthening. Apps simplify this process for you by linking your account directly to your bank account and other accounts to your mail id. This way everything is linked via your phone and is easily accessible.
- News updates – Having an investment app on your phone keeps you up to date all the time. Whether it’s the stock price, or the market fluctuations, or the rise in sensex, you will get each and every notification on your phone via the app. This can also help you while making trading decisions as well.
- Saves Money – With investment apps you can opt for micro-investments that help you make small amount trades which ultimately helps you save money. The app tracks your spending pattern and suggests you spending rules in order to save your money.
Hence anybody who is planning to begin trading or invest in stocks should check out various apps that will make your work less easy while maximizing your returns.They also help to broaden your investment portfolio and help to diversify your funds properly. If you want to start with simple equities, the apps offer various less risk options. One of the main benefits of having investment apps is you can always change from one app to another if you don’t get the desired results. Before downloading any app please make sure that they come from trusted sources.