What is Stash Invest App?
Stash Invest is at the forefront of modern apps today. As an app on both the Google Play Store and the iOS Store, it has outstandingly good reviews and a user-base consisting of tens of thousands of investors. Quite simply, Stash allows users to invest, from as little as $5, and build their own investment portfolio from their phone or other handheld device, something that is very new to these past few years. Whilst it is only currently available in the USA, Stash has plans to expand this in the future to more countries. In this article we will review stash invest app, showing its pros and cons, competitors and pricing structure.
Elegance and simplicity is the key to unlock the world of investing
Its sleek, elegant design combined with its simplicity, quite simply, just works. To get started, you are required to put in at least $5 of your own money, and most importantly, they are completely transparent about fees, which we will talk about later. Once you have set up your account the app neatly takes you through various stages just to make sure that you know what you are doing, before setting you up with various ETFs (exchange traded funds), bonds and stocks. One of the most startling things about this app is how well it is designed; if you were to visit the majority of stock trading websites currently available on the web, it might seem rather daunting for a first timer. However, with Stashy, their app is filled with mellow colours (contrasting the bland black and white that original trading platforms have), and demographics to help explain things better, a must for beginners.
On top of being user friendly, a large part of the app is designed for education, again something unique with this app – instead of throwing you in at the deep-end with your own money to invest, they teach you the basics of stock-marking trading so that you have an idea of what you need to do in order to get a positive return from your money, and not lose it all straight away. Given that the app is completely free to download, this is incredibly useful even for those who do not wish to join the investment game straight off the bat, but instead wish to read around the subject of trading in order to gain a grasp and insight into how it works, something that is very useful, as sensible investments can lead to significant returns once you do start putting your cash in.
The costs of playing in the real-life investment game
However, whilst this does seem like an incredible app, there are its downsides when it comes to cost. Although when you download it you get a 90 day (3 month) free period to use the app, once you surpass this date you are required to pay a monthly fee of $1. Although this may not seem like much, if you only started with the minimum $5 to trade on their site, this could go down pretty quickly if your investments are not seeing much return. Furthermore, if your account is worth over $5,000 then they will charge an annual fee instead, of 0.25% your balance. Again, this might not seem like much until the hard-earned cash, that you gained from the hours invested reading about where to put your money, is used to pay for fees.
The future is here – one tap of a button and you are investing
That being said, do not get me wrong; this app has an unbelievable amount of potential – for an app to be able to offer such a service where you can trade with your own money from wherever you are is really significant in the world of trading, as it increases accessibility to everyone and hence means more people are trading. This in turn means more people learn about it and become wise when it comes to making good investments with their money, decreasing the chance of them wasting it on something else, such as gambling for example.
The downfall that comes with this app aside from the price is it only being available in the US. Whilst this is indeed considered the home of investing because of the largely recognized Wall Street, it does mean that other users from other countries are unable to try this out, meaning they must stick to the old-fashioned ways of investing. Both the Google Play Store and the iOS store prevent downloads if you are not in the US, meaning not only can you not invest, but you cannot access the wealth of resources that Stash has to offer on the education side of the app, something that is a shame.
There are always different variants, but Stash Invest is a good place to start
Since Stash came on the market there are also similar apps to this, such as Robin Hood, which has been known for its zero fees strategy, and Acorns. However, these all primarily serve the function of investing, whilst Stash places an equal emphasis on the education, something that should not be taken for granted. Whilst Robin Hood’s investment part of the app is almost identical to Stash, the user interface is nowhere near as easy or pleasing to use. Acorn uses the same idea as Stash, but instead links up to your credit or debit card, so that it can monitor purchases and set an amount of money aside for you to invest each purchase. Of all the apps out there, it is clear that Stash is leading the way because of its simple design and useful features.
The conclusion – What do you have to lose?
I personally think that Stash Invest is a great opportunity not to be missed by users. Having had experience in market trading before, I know how difficult it is to start up and be faced with pages upon pages of statistical data about a company, and not knowing at the end of reading it all whether the investment would be worthwhile or not. With Stash you get to learn and invest at the same time, and the minimal fees for the first three months (and each month providing your account has a balance of under $5,000) makes it ideal for beginners who are starting out, and who want to dip their toe in the murky water that investing is. I would therefore recommend that you give it a go – at the end of the day you only need to let go of $5 – the same price as a cup of coffee – and you could end up with more than you started. Who knows, maybe the next Warren Buffet could be born from the Stash users of today.