Building up your savings is no mean feat. It requires a delicate combination of knowledge, risk, and opportunity. Nowadays, the measly interest you accrue on your bank account savings just doesn’t cut it any more, with interest rates at almost 10 times less than before the recession kicked in.
Perhaps you’ve been thinking about trying your luck on the stock market, hoping to bag yourself a bigger profit. And there's certainly big capital opportunities out their - but with playing the stock market comes risk, and the need to do a heck of a lot of homework on when to sell or buy.
Luckily, we have easy access to the information we need to make the best decisions, anywhere and anytime: all thanks to our smartphones. These 5 apps will help you stay up-to-date on your investments or help you take the first step towards investing if you're a newbie to trading.
Bux Casual Stock Trading offers one of the best ways to jump in to the scary, complex world of the stock exchange. Start with real products but with fake money. With an initial credit of funBux (virtual money) you can begin to buy stock options. The products and the daily updates are real, but the money you win or lose isn’t (thank goodness).
The most interesting thing is that you can compete against other aspiring brokers, each with their own profile. Battles of investment keep you engaged and interested in learning how the market works. When you feel ready to invest real money, you can do it directly through Bux using seriousBux (for a minimum of 60€).
TradeHero is another stock exchange simulator that leans a bit more towards gaming, and is formatted like a social network. You can follow "Heroes," users who have the best (virtual) ROI on their investments. The objective is to become a hero of the market yourself, making the best decisions to maximize your portfolio.
While you make trades, you can win medals that boost your final score. Besides real-time stock market information that the apps offers, you can see economic news, format your finances with video tutorials, and follow investment decisions made by other users.
The fun factor of entering the world of stocks just got boosted by 100%.
If you’re already game to invest (or you’ve been doing it for awhile), you need to follow movements that can affect your portfolio in real time. This isn’t just the ups and downs of the products, but also business acquisitions and changes in the political arena.
MSN Money is the mobile version of the old web portal that collects news and real-time stats so investors have the most information possible gathered in one spot. The MSN Money app follows the same idea: in one app you can find all the stock market information you could need - updated constantly - including news, economic advice, and other financial tools (like mortgage or personal finance calculators, currency converters, and others).
If the previous options don’t suit your fancy, Yahoo! Finance is a viable alternative. It’s quite similar as its ancestor is also an ancient web portal. If you already have your portfolio on Yahoo! Finance, you can easily access it through the app, or start a new one in the blink of an eye.
Yahoo! Finance also offers market stats in real time and economic news that can help you make those difficult sell/buy decisions. It doesn’t have domestic economic advice like MSN Money, purely the stock market on this app. But, it has ample graphs, reports, and more detailed information.
If there ever was a sector that needed instant communication, it’s the stock market. Luckily, we have StockTwits, a microblogging social network, similar to Twitter, but money-focused: the conversation is solely stock. It’s a simple enough idea: connect people who are interested in the market so they can comment (in real time) on the changes that effect different products.
The application brings together experts, amateurs, brokers, and analysts in the same site, with the goal of communication that benefits all. The conversation is organized through channels that can be by theme or business. The header shows market stats in real time, while the rest functions like a microblogging social network (publish, respond, RT, fav, private message…)