The best investment app ideas of the last 20 years
June 28, 2022 (Investorideas.com Newswire) Some of the best apps for investing found their way into prominance this past decade - be it 24/7 trading, zero-commission trading, multi-currency accounts, or borderless investing.
In the investment app world you will find every tool necessary to support personal and business investment, with seamless ways to accept payments, spend money and manage portfolios.
We explore some of the greatest innovations in the list below.
Top trends and ideas in the market today
1. 24/7 markets, zero-commission trades
The ability to trade assets 24/7 - outside of regular trading hours - and at very low to near-zero fees is one of the biggest developments in the investment and trading world. While not all investing apps now offer zero-commission trades and finance management, most allow for round-the-clock trading and investment. And those that do have attracted millions of users.
Robinhood, for instance, is the OG of the free commission trading space, and shook the sector as its popularity exploded. User numbers jumped from around 0.5 million in 2015 to over 22 million in 2021.
Before Robinhood hit the market, trading was at a premium, which effectively locked out users whose investment capital didn't meet minimum requirements. That world of trading has changed thanks to free accounts and no commission trade - and today, $1 dollar can literally get you going as you build upwards.
A host of other apps have since followed suit, even the established names that did not want to be left behind are offering free accounts or bonuses to stay competitive.
2. The borderless investor
The barriers to investing have pretty much been lifted. Literally, anyone can transact and invest from anywhere in the world today, including in assets traditionally inaccessible in certain countries or regions. That's the power of innovation as seen through finance and investment apps over the past decade - what started as a cashless economy is now borderless.
And all these because apps have made it so easy to send money across international borders, whether for investment purposes or to family and friends. Having a multi-currency account app on your mobile phone or laptop is no longer debatable.
Connected to this is the fact that apps have made investing and trading easy. Portfolio trackers effectively eliminated reliance on print media or emailed reports on investments. Now you can track, in real-time, every aspect of your investment. Throw in automation and the array of opportunities becomes really boundless.
3. Apps help advance fractional trading
Trading apps have also made it possible to buy fractional shares, making it possible for small investors to slowly build their investment in the large companies - bringing more people to the market and creating wealth for so many.
4. Bitcoin and crypto
Bitcoin's launch in 2009 heralded a new era in the financial world, with the opportunities that came with it finding its way into the global community via top investment apps, digital wallets and blockchain platforms.
The numbers getting into the crypto market has skyrocketed to mind boggling levels, and shows no signs of stopping as many platforms begin to offer crypto trading.
Payments app Cash App by Square (now Block) counts Bitcoin as one of its biggest revenue streams, while Europe's largest stock trading app eToro is now one of the best apps for crypto investors looking for copy trading. Robinhood began offering crypto in 2018 as users soared.
Binance, the world's largest crypto platform by trading volume, is even looking to become a "super app" with possibilities for users increasing by the day. The Binance app has over 90 million users across the globe.
Revolut, the best finance app in the UK according to recent research, boasts over 18 million personal users and supports more than 500,000 businesses in over 200 countries. The financial super-app recently added crypto and zero-commission stock trading.
Freetrade, founded in 2016 is another top zero-commission app in the market.
Rise of investing apps and the smartphone explosion
Well, the best investment apps couldn't have seen the numbers (here we are talking downloads/installs and certainly usage) if not for some other key innovation- the smartphone.
While the IBM Simon launched the smartphone era way back in the early 1990s, and the late 2000s saw the emergence of Apple's iPhone, it's the last decade that saw the true explosion of smartphone usage. In its shadow has been the inevitable increase in app usage - here is a fun fact:
The global population currently stands around 8 billion people. Of these, an estimated 6.6 billion, or about 83% of the population have access to a smartphone. On average, smartphone usage sees about 40 apps installed, with 220+ billion apps downloaded so far- and growing.
Conclusion: The best investment apps of the decade
Investing apps are on a roll because they have made it possible for a new kind of trader in the global market. They offer great opportunities, (of course with new risks) and are setting up market trends not envisioned at the turn of the decade.
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