The best investing apps for 2020

With interest rates at record lows, it just doesn’t make sense to save money in a bank account anymore.  Thanks to inflation your money will be worth less and less each year if it just sits idle in your savings account.  So what other options do you have?  Well there are now a myriad of different investing apps that have popped up over the past couple of years.  These apps make investing in stocks, ETFs (index funds) and bonds cheap and accessible to anyone, no matter how much money you have.  In fact you can get started investing and growing your wealth with as little as $5.

Here are some of the top investing apps that have piqued my interest in 2020.  I expect we will continue to see more and more innovate fintech apps launch throughout the year, and I’ll keep this post updated.

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My top tips for CopyTrading on eToro

I’ve been experimenting with the CopyTrading platform eToro.  It let’s you automatically copy the trades made by more experienced traders.   Here are some of the things I’ve learnt while using the platform:

What is CopyTrading

CopyTrading is where your trading account automatically copies the trades made by more experienced traders.  Trading is hard.  So why not let someone who does it for a living do it for you.

When you copytrade, whenever the copied trader makes a trade, your account will make the same trade.  If the trader buys some Apple Stock, your account will too.

With eToro, you can browse through the profiles of thousands of traders.  See how well they have performed in the past and how profitable they have been.  Here are some of the things to look out for when copying traders:

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