Online banking can save you a lot of time and effort; you can undertake most transactions from the comfort of your home. However, it is crucial to use finTech safely.
Online investing and investing apps have grown in popularity. According to Statista, 12 per cent of people ages 18 to 29 report that they have used an online investing app in the previous 12 months. Among people aged 30 to 49, 14 per cent report that they have used online investment platforms in the previous year. Among those aged 50 to 64, 10 per cent report that they have used online investment platforms during the prior 12 months.
The availability of mobile investing apps is helping to spur the growth in online investments. The apps for investing help to make investing more accessible and allow inexperienced investors to get access into the market.
How do I take steps to start online investing?
If you are interested in learning how to invest in stocks online, there are a few steps that you can take to get started, including the following:
- Research different mobile investing apps
- Look for an app that charges no or very low fees
- Read reviews of the apps that you are considering
- Decide which app has the features that meet your needs
- Complete the application
- Determine your risk tolerance level
- Fund your account
- Choose your investments or a portfolio that has been created for you