5 Best Investment Apps in 2020
The pendaenic has led to an increase in brokerages and online investment by different companies. So, deciding on what Apps are best to invest in 2020 can be a hard decision to make.
Depending on finance, time, manner of investing, there are hundreds of apps It’s either you are a stock trader or an angel investor. However, these apps listed in this article suits all kinds of investors.
Being a beginner it permitted you have lots of fears and doubts but, there are investment apps to help beginners get used to and comfortable with investing.
Importantly, you’ll need the apps that won’t end up making you lose all your money in a bid to get more.
In this post, I will be taking a more detailed step in analyzing the best investment apps in the market that you can choose from. It also contain the app ratings on app store to see how well its doing on the market.
Now do you know what investment apps are? We explain in details here
What are Investment Apps?
Investment apps are mobile apps that provide a platform for individuals to invest and also track their investments to increase their initial money.
one vital aspect about any investment apps is the ability to track your investment. An investment app that does not have this feature is not worth it.
So let’s get into the list first.
5 Best Investment Apps
1 Trove App
Trove is an investment app which lets you to buy US stocks, Chinese and Nigerian stocks from where you are in Nigeria.
Previously, investing in US stocks from Nigeria wasn’t possible but thanks to the upgrade in technology; this can now be done from the comfort of your bed. This makes Trove one of the best investment apps around.
Trove allows you to invest as little as N1,000 Naira through their app. It features top Nigerian companies and conglomerates like Dangote cement, Jumia and other US brands like Netflix, Microsoft, etc.
With a rating of 4 of 5 on Google play store, and a good number of positive reviews, it shows how effective the app can be.
Allows you to automate your investment by linking to your debit card
Offers a flexible capital investment rate
It offers both an android app and iOS for Apple users
A one-time fee of $5 is required to open a US brokerage account
A four-step registration process
InvestBamboo is an investment platform featuring over 3500 stocks named on the Nigerian stock exchange and U.S. stock exchange which you get full access to as a user.
Accounts in Bamboo can be funded with both dollars, Naira or their local currency easily to start trading. Bamboo brings a much more clear charges policy making them a cool platform for beginners.
For now, Bamboo is fully launched in Nigeria and is one of the best investment apps in the country
Furthermore, with the 2FA verification process integrated by Invest bamboo; you can rest assured that your investment is fully protected.
Bamboo has a rating of 3.7 (194 ratings) on Google Play store and a rating of 4.9 (19 ratings) on Apple store.
Features of Bamboo
Bamboo gives full access to over 3000 Nigeria and US stocks
Flexibility of funding your account with both Naira and dollars
Offers a simple dashboard to track your investments
High bank level security with 2 Factor authentication verification (2FA) and data encryption
Protected by NG & US Sec
Mobile apps for Android and iOS are available for download on their respective play store.
Uninvested cash left in account accrues 1.45% interest annually.
Cowrywise does more of savings than investment. You have an increased interest when saving.
However, Cowrywise also let’s you to invest in mutual funds, and also earn by compound interest.
For as low as N100 you can start saving on Cowrywise platform.
Flexibility in funding your Cowrywise account with any Nigerian bank (either manually or automatically from your bank account.)
Offers different types of savings and Investment plans you can choose from.
Minimum duration of investment and savings is 3 months
Offers Halal savings for Muslims interested in saving with Cowrywise
You can create as many savings plans as possible
Cowrywise dashboard is designed to monitor investments and returns.
Allows you to invest in different types of mutual funds
The systematic Investment program allows you to invest a fixed amount regularly into a mutual fund daily, weekly or monthly.
Cowrywise does not charge any SMS fee or account maintenance fee.
Though we can go on and on, we have decided to keep it on this number for now. But be assured that this apps are the Best Investment Apps in 2020 and you can trust them.