Investing the Right Way: Apps and Services for Young Investors
Updated: Jun 23, 2021
With a swarm of speculative investments recently hitting the scene, more people are getting into the investing world and viewing it as gambling rather than performing any type of analysis. To combat this, here are some apps and resources you can use to better understand stock investing and become more financially literate.
• Invstr – this app is like a fantasy league for stock investing as it allows wannabe investors to compete with other players for prizes. You start the game off with $1,000,000 to invest into markets that replicate different real-life exchanges in real-time. Users receive a scorecard based on their investment performance, with detailed insights into their risk exposure along with warnings if they’re over-concentrated in a particular sector. On top of this, they provide a 10-part investing course by a former JP Morgan investment banker. This app is free for the first 90 days, then $3.99 each month.
• Qooore – This app has a Tinder approach to learning about stocks. Users can swipe through stock information and tap a heart icon if they like a stock and want to learn more about it. Qooore also includes quizzes to test users’ knowledge, as well as forums to have discussions about particular topics. This app is free.
• Everfi – this platform offers courses on financial literacy aimed at those between grades 4 through 12 at no charge. Courses consist of 20-minute videos and online activities in which students can create simulated stock portfolios.