“Successful investing is about managing risks, not avoiding it” -Benjamin Graham
Investing has always been a hot topic when it comes to financial independence. From an early age, most of us are taught about the importance of saving and investing. These are supposed to make our future selves happy and secure.
There are many ways to invest, like stocks, personal growth, tools, or any other form of assets. All of these have their strengths and weaknesses when it comes to making the most bang out of your buck.
The use of online investment apps is on a steady rise. Most of these grants you access to the stock market without the usual fee from a broker. Different apps offer different kinds of services, and there are thousands of apps currently out there.
With the massive array of options one might wonder, who can I trust with my money? Money may not be everything but it can greatly dictate how you live today and tomorrow. Finding a trustworthy app can make or break your investment portfolio.
After all, even if you make all financially correct choices, that doesn’t spare you from being scammed. You may have found the next Google or Apple but if the people handling your money can’t be trusted then it will all go to their pockets and leave yours empty.
As mentioned, many applications offer their services. Some of these are more trusted than others while some seem to be more lucrative. This blog is here to give you a decent idea of what to look for in an application.
There are plenty of online blogs that discuss online investment apps and their reliability. An example would be the Degiro as a safe option for investing. These kinds of application-specific articles allow readers to get a more accurate and specific idea of certain services.
Making informed decisions with your money involves learning and understanding different things. This can be done with proper information from a combination of different sources like this blog you are reading or even the article listed above.
This current article does a great job of giving you a decent baseline to look across the massive arsenal of online investment apps. The blog about specific applications helps you to get a more in-depth idea of each application.
These are not everything you need to watch out for but these are one of the main indicators for reliable and assured service. After all, this is your money and there’s nothing wrong with being a little cautious when it comes to your funds.
As is the nature of any business deal or contract that involves money, transparency is incredibly important. Transparent processes show you that this company or application has nothing to hide.
There are different forms of transparency but you can observe that most reliable applications mention all of the details that involve your money. This helps you to know every step that your balance takes.
Transparency is one of the bare minimums when it comes to business deals today. You can find that most will tell you exactly how much you are spending and how much their cut or “talent fee” is.
Reliable investment applications mention the prices, the method of payment, their service fee, and everything else that involves you.
These applications will also constantly update you on your balance or any other pending processes. You can take a huge company like Amazon as an example, they pride themselves in transparency for their customers and sellers.
If a company has nothing to hide then they will probably have no problem sharing all of the important details with you.
This is an incredibly crucial feature that shows that this organization takes extra steps towards your convenience. This may come in a customer support team or maybe a bot that answers questions.
Regardless, customer support is all about making sure the customers are taken care of. This feature helps customers to continue with their desired deals, they are a helping hand when certain errors or misunderstandings show up.
Customer support is a reassuring part of a service that takes care of both human and technical errors. Clarification is an incredibly important aspect when it comes to business dealings.
You deserve this especially when you’re making decisions that may greatly affect your future.
A great indicator for reliable and reputable service is the presence of well-known business partners. They may be working alongside certain banks or have an established insurance company protecting them.
Trusted business partners have their reputation on the line through association. This means that if the investment application screws up in any way it will affect their business partners. Knowing that the business partners have probably verified the legitimacy of the investment applications.
This indicator may not apply to all reputable investment applications but it is often overlooked. If big companies are willing to be associated with this organization then this organization has passed certain standards.
Just like any service or organization out there, you can learn a lot about them through the customers they have had. In this day and age, public opinion can be very powerful and direct. You can observe entire stock markets fluctuating due to public opinion.
If an application has a bunch of positive comments then this is a good indicator that other people have enjoyed the service that they have received. On the other hand, if an application has a poor rating then you can learn from the mistakes of those that have trusted in such.
Overall, public opinion isn’t definitive of the quality of service but it is a good tell towards how other people and customers have been treated. Having a positive reputation also takes time and effort to build, something like that can all go away with one incident.
If you’re interested in an application then it might be worth taking a look at what other people have said about it.
These are the details that show up when you download an app or get a new device. They mention how the service will work and what to expect over time.
Most people don’t take the time to read through all of this but this is an incredibly dense packet of information that can help in your decision.
You don’t need to read every single word (although it is advised) and you can probably do fine just by quickly skimming through the highlighted parts. Terms and Agreements are the application’s way of telling you how things will go down.
If their service does not coincide with what is listed in the terms and agreements then in certain cases the government can take action. However, if a service is horrible but is listed in the terms and agreements then there’s no legal action to be taken. Since you have agreed to such terms.
There are many choices when it comes to where you want to bring your money and how to grow it. However, some choices are simply better than others, and finding the right ones is completely dependent on you.
There is a bunch of information online that talks about investment applications in general and company-specific reviews. Take your time to research a bit and get a decent grasp of what you’re dealing with so that you can make an informed decision.
Generally, there are certain indicators that an application is reliable and legitimate.
If an application has all of these then you are on the right path towards finding your next financial partner. Investing has its risks but the reward can depend on how informed your decision is.