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Technology is more than a source for investments that have the potential for big payoffs in a short amount of time. Technology is providing us with tools for smarter investing in other areas of finance, allowing virtually anyone to track prominent trends, quickly make trades, and put money to work efficiently on the open market. One of the fastest growing forms of this type of technology is coming in the form of Apps for smart phones and tablets. Because more and more people are making their trades on the go, the following Apps are ideal for investors of all experience levels who do not want to necessarily be tied to a desk.
Available in both a desktop format or as an iPhone App, this free software streamlines one’s portfolio and is capable of creating over 90 different themes. It handles 30 stocks per portfolio well, encouraging users to funnel their investments into more concentrated areas of the market. Each portfolio comes with a $9.95 charge, and the minimum investment amount is $250. This App is not geared towards the long-term investor, but it is perfectly designed for the day trader or those wishing to begin dabbling in the world of high finance. The acclaim for this App has come from both novice traders and MIT instructors who are experts in the field of finance.
Many investors have no problem establishing a portfolio with which to work. However, once their money is in place, a great deal of traders are unsure of how to optimize them for their personal goals in the market. This App takes the most important data from your portfolio and puts it on a single page that is organized in a dashboard fashion. From there, the program makes recommendations based on the relevant data. SigFig is free and works on all desktop computers, iPhones, and Android devices. The program is much better suited for long-term investors. It is capable of synching with up to 90 different brokerages in order to track 401(ks), general investments, and IRAs.
This App finds its strength in the number of tools built in to manage money and maintain investing budgets. It provides a complete listing of all your investments at the touch of a button in addition to summarizing your total investments in a way that puts the numbers in context of the market at large. The management tools have received high marks from the editor of Netbanker.com as well. Although the App and the website are free, users have access to financial advice on a regular basis for a flat fee. This program also allows users to make money transfers using bank accounts and track credit card information in real time.
Compatible with desktop computers, iPhones, Android devices, Blackberries, and Windows Phones, this App opens people’s eyes to the in and outs of the high-finance world. Each investment comes with reliable and well-researched data that is updated in real time. There are few other Apps that put so much data at the fingertips of investors. The charts that users can access to guide their decisions are interactive and constantly updated. This App will even construct new charts based on the performance of investments in order to better guide the individual investor.
Geared towards research and the exchange of mutual funds, Morning Star constantly updates users as to the top-performing holdings and exchange funds. This powerful software is capable of handling up to 8,100 mutual funds at any given time, giving users a huge amount of freedom when it comes to diversifying their investments on the open market.
When it comes to money, finances, and investments, it’s always good to have information at your fingertips. No matter which app you choose, you’ll be confident using modern technology to keep tabs on your investments no matter where you are.
Financial advisor Frank Starr enjoys sharing money managing tips and investment advice with his readers. Frank also has contributed to educational material featuring online masters in finance programs for others interested in a career in finance.