3 beginner-friendly investment apps in Canada to automate your finances
By Gloria Methri
There are a variety of investment apps to help investors of every age and income automate their finances. The best app will depend on the individual’s needs, goals, and experience as an investor.
Canadians have become interested in personal finance and want to make quick everyday changes to their investment portfolio. There is a mobile app for that. Investment apps bring the stock market to the palm of your hand.
No matter their individual needs, there is a tool available for everyone. If you are a beginner looking to start your investment journey, here are 3 apps to put your money to work in the stock market.
Wealthsimple is a popular multi-platform investment, banking, and trading company. Although it operates within Canada, its investment funds go beyond borders since the platform operates via an app. There are no hidden fees involved. The only expense incurred by users is the Management Expense Ratio (MER), which is 0.25% – 0.5%. This cost varies based on one’s investment plan.
Coinsmart Canada is a crypto-trading app for beginners and advanced traders. With 16+ cryptocurrencies and professional trading tools, this app simplifies the investment experience. The app charges 1% on bank wire transfers and EFTs, which can be paid in crypto. Though there are multiple account funding options, CoinSmart offers a limited number of accepted crypto coins. These include Dogecoin, Shiba Inu, Avalanche, and more.
PocketSmith is a global leader in personal financing forecasts that was initially designed as a mobile app for personal budgeting. The beginner-friendly app integrates personal financing software along with Cash Flow Forecast Software. All these combined allow an in-depth insight into forecasting a future investment. While users cannot make direct investments in ETFs and crypto, they can connect such an app with PocketSmith to get free advice on their investments.
Also read: NextGen WealthTech: The Trends To Shape The Future Q4 2023IBSi Daily News Analysis
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