Investing apps

been a while since i've been here, so hello again.

Anyways over the past week or two i've been thinking about investment apps, I am aware of a few but am not really sure on what the go to app would be for what i want.

What I am basically after is an app that allows me to put in as little or as much money into it as I am willing to spend, be it 1 dollar, or thousands of dollars .

I am after something that you invest in a hedgefund that could range from as little as 100 bucks up to thousands or something that would allow me to invest in individual shares for a company but the app acts as sort of a middle man for the purchase.

What i'd like to be able to do, is just use my paypal account for it rather than having to input bank acc details for it.

I understand there would be commission fees on whatever profits are made or loads of advertisements and if that allows the app to be free than so it.

I'd rather not use something that has tired memberships but something that is all open but has advertisements and commission fees (As long as commission fees are reasonable) to keep the app free.

Any advice would be greatly appreciated and i'm not sure if there's apps outthere that suit my needs but it never hurts to ask i guess.

 

Arent you just describing every web broker app? Asx $500 minimum. Hedge funds dont want small investments due to volatility and cost but there are funds of funds.

 

Are you talking something along the lines of that acorn thing? Not sure if I've got the name correct

 

Was acorns, now known as Raiz. I believe you need to link your bank account to it though

 

The fees on Raiz (search 'acorns' on here) are horrendous.

Better off opening a VAS account and bpay $100 over in regular intervals.

pinkboy

 

Yes I am thinking of apps like acorns but I am not a huge fan of linking my bank details directly and would rather be able to use paypal.

as mentioned i'd like to be able to invest as little or as much as I want. I under a dollar is too little lol but i'd be ok with like a 50 or 100 dollar minimum investment.

I have in the past looked at vanguard (Is that what vas stands for?) but their minimum investment is too much, hence this thread.

And just to add, the reason i'd rather use an app that allowed the use of paypal rather than directly linking the account is i am a bit nervous about the investing app getting hacked or etc and my details getting exposed.

 

Yet you trust the middleman to execute your trades and keep your ownership records? This is not like buying on ebay where you physically get the goods.

The listed vanguard fund minimum is 500, which is still a stupidly low amount. What do you achieve with a hundred dollar investment? Unless its penny shares? Might as well buy lottery tickets.

 

Well instead of offering up no advice why not try and help?

I'm sure there must be apps out there that meet some or all of my requirements. I guess i'd be willing to put bank acc details in but it makes me feel quite uncomfortable.

And to me even 500 dollar investment is hefty, keep in mind we're not all ****ing loaded like you and have heaps of money just sitting around for investments. I obviously don't expect to make 30 or even 5 percent profit, but imo, if I can turn like 50 or even 100 bucks in to 53 or 105 dollars from a small investment I am happy.

 

I don't, hence looking for a more lower min investment or no min investment app thing, pref been able to use paypal instead of inputing my bank acc details directly but i guess beggers can't be choosers was just hoping there was an app that met the needs

 

Only mortgage, that's it.

In the past I have looked at termed deposits but decided against them.

The point with using something acorns or whatever is if I can just put say 50 here, 20 there, 90 here it would add up, albeit slowly and if i'm lucky more quickly than using termed deposit which, from a quick gander at that ubank thing, was only like 26 dollars or some extra a year on a 1,000 deposit, so doesn't really make sense to me?.

 

So if you didnt use term deposits, did you end up saving any more without it?

What if your unlucky? Shares and funds have downsides. Positive thinking is great but not if you cant afford the negatives.

Think about your age and financial position. Maybe time for a rethink? What makes sense to you may not actually be right.

 

Both my kids use Raiz (they are 9yo and 11yo) and you can invest as little as $5 which allows them to invest their pocket money on a weekly basis. Yes the fees are high as a percentage, but $1.25pm is hardly "horrendous". Once you have a few thousand in there, you could withdraw it and invest in Vanguard on any of the trading platforms. They are both up around 11% in under 18 months which is pretty good for a managed portfolio.

But you do need to invest via a bank account.

 

Are you looking for feedback for an app you want to develop yourself?

 

hmm

they just doubled them