According to Business of Apps, the use of investment apps has grown from 35.6 million in 2017 to more than 130 million in 2021. These statistics indicate that the market for such products is growing, and an incredible number of investors are attracted by their easy availability.

There are many reasons why the popularity of such programs has increased dramatically in recent years. The trend intensified during the global COVID-19 pandemic, with more people staying with extra time. In addition, many were looking for an additional stream of income when traditional industries shut down.

Investment must have seemed like the perfect solution, and investment programs only made it more attractive. In this article, we’ll look at how they helped make markets more accessible to ordinary people and their lasting impact.

Inexpensive trade

Investment apps belong to a highly competitive market. Indeed, there are so many that there are entire web pages devoted to reviews the best investment programs for UK investors, regardless of investment amount or time horizon. They rank products based on a variety of factors, from platform fees to cost per transaction, commissions, and even customer service.

The factor of perhaps the greatest interest from investors is the overall cost of the platform. Retail investors now account for a third of stock market tradingthe average trader has less money to play with.

These are primarily programs for demographic investing. Due to the huge number of people using them, they can facilitate smaller trade volumes and are easier to absorb than a traditional broker. This ability to invest less means that it’s not just high earners who can access the markets and try their hand at investing.

Trade with smaller volumes

This goes hand-in-hand with low-cost trading, but apps also allow retail investors to play with smaller volumes than they could traditionally. Naturally, transaction fees reflect this, and investors are not charged an exorbitant rate for small transaction volumes. It takes the power out of the hands of brokers and puts it in the hands of ordinary people.

Less reliance on professionals

The easy availability of programs means that today’s investors are less dependent on banks and/or brokers as intermediaries. However, this also means that professional financial advice is not as readily available to traders.

You might think that this would have a negative impact on their success, but it doesn’t. Rather, apps take knowledge out of the realm of the elite and make it more accessible. Many come complete with extensive user training tools that they can use when planning their trades.

When it comes to opening up the markets to ordinary people, investing apps have already come a long way. By lowering costs and fees, making educational resources open to the public, and supporting smaller trading volumes, they’ve made large amounts of capital less necessary for those who would like to get in on the action. Is this something you will use?

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https://uktechnews.co.uk/2022/10/26/how-apps-are-making-investing-more-accessible/