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The 5 Best Microinvesting Apps of 2020

Micro-investing apps refer to platforms that allow users to save funds regularly. Their main aim is to eliminate the traditional barrier of investing. In other words, the platforms encourage users to invest and save even if their sources of income are limited.

Here are some of the best microinvesting apps in the United States.

Betterment
The micro-investing app avails financial advisors that help one in making informed decisions on investment. Upon signing up, you will have two options of service at your disposal. You can either select the betterment digital or betterment premium. The former is more straightforward and does not require any minimum balance to be functional. With as low as 0.25% of your total assets, you can create a betterment digital account. Betterment premium involves a fee of 0.4% of your total assets. However, the option avails financial advisors readily.

Robinhood
The app aims at making investing accessible as well as affordable to everyone. No commission is required, and one can open an account with no extra charges. Another merit associated with this app is that one can send funds to any bank with no extra cost. The app is simple, and the best option for new investors. Also, the platform will allow you to trade full stock and earn some extra coins. You can easily access your account at the comfort of your premises from using your laptop or computer.

Stash
The app does not charge trading fees, not to mention commissions. After downloading the app, you will be in a position to connect it with your bank. The app provides an investment guide that helps investors in making decisions. Stash allows one to determine the amount of money to invest. Topping up is allowed and can either be weekly or monthly.

Acorns
Acorns provide one with the chance to link a debit and credit cards to the Acorns account. The app has the power of automatically rounding up your dollar to the next value if you make purchases using your linked card. The art increases one`s saving and makes investments to be more affordable. Within no time, your dollars will start accumulating impressively. In case you shop at their partner's companies, you will have the advantage of earning some extra cash for you to invest. https://millennialmoneyman.com/micro-investing/

Twine
The investing app is designed for two persons. You can choose to invest with a friend, partner, or spouse. The app has savings and investing options. The app is essential in the sense that it allows one to set financial goals and directly combined strength towards attaining them. Twine serves as a teaching platform on the value of setting goals and working on achieving them as a team.

With $5, you can invest with the help of micro-investing apps. Most of these platforms are categorized among the best microinvesting apps as they are enticing in nature. However, there are things you need to put into consideration before deciding on whether they are right for you to use. Signing up in many investing apps will leave you with limited investment choices. Although it sounds a great beginning, it is not the best first saving option.

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