There are a lot of investment apps that simplify investment. People can sign up for an account on these apps, fund their accounts, and then start investing in different kinds of assets. These apps allow you to invest for as low as $5. Some of the popular investment apps are Robinhood, Webull, Acorn, Stach, eToro, etc. Do you use any such investment apps?
Do You Use Any Investment Apps?
- Thread starter nomad
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I have never trusted these investment apps. How do you figure out which one is legit to invest in? Personally, I fear that the app might crash one day and I lose money. So I don't invest in them.
I do not use any kind of investment app. There were a few investment app that were supposedly made to make people richer. However, they turned out to be scams. Not surprisingly, they because really popular and many people lost millions.
I have never tried them personally. I may have tried one of the app because some of the mentioned apps have reputation and they have stayed on the industry for years. The downside part of them is that they use Crypto currency which I am not conversant with.
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- #10
What's the name of the app you are referring to? These days most of the investment apps allow you to invest in crypto, but if you are not comfortable with crypto, you can simply avoid it and continue with stocks and equity.
People should beware of many scam investment sites and apps. Recently, a few scam investment apps made headlines in our country. They were pyramid schemes and they had nothing to do with trading.
As I said before, I think there are many applications that are scams and have no license or regulation, this is the first thing we should look at when we enter an application in which you can open a brokerage account, we must look at the terms and policies and especially the regulations, in the two that I am, they have strong European Union regulations where they protect investors' funds.
That's right I agree with you. The number of fraud cases online makes me experience a crisis of trust, so I prefer to choose offline investments for security. One of the simplest offline investments is to buy gold bullion and keep it at home for a few years and sell it back when needed and it's expensive.
I don't trust investment apps. I have an investment account with my bank. I use their e-platform to buy and sell stocks. It's safe and convenient to use. I got a SMS message as soon as a transaction is done.
There are apps that are reliable, and they are those that have the relevant regulation, that is what we should look at as long as we register in one of these applications, in my country they must comply with strict regulations, so there is usually no problem with them.
