Investing apps 2019


#1

What do people think is the best app for investing in stocks.

I have had Nutmeg for a while (it is very user friendly but doesnt let you choose what stocks you buy)
If anyone was thinking about getting a Nutmeg account I have a code for 6 months free (no fees)

I looked into getting moneybox which seems very similar to Nutmeg

I also am excited to try freetrade when it comes in android


(Emma (still not the app)) #2

If you want to just throw money at a product and let it decide then robo advisors are the way to go.
But I won’t pay for something I can do myself and I want to have a lot more control over exactly what I invest in. So Freetrade FTW.

Lots of choice out there which is good but make sure to read the small print


#3

I found the Freetrade forum super helpful in understand things like ETFs - which previously were unknown to me, but which are bought like shares and effectively track the market. Doing a bit of reading on there really took away the fear I had if not understanding what was going on - which was why I preferred roboadvisors like Nutmeg…


#4

Freetrade all the way.


#5

I guess it depends on how much time you want to put in.

Ultimately, if you do a ton of research and keep up to speed with everything, the likes of FreeTrade and other platforms will give you the most customisation.

If you want to feel like you are doing something other than leaving your money in a current account or low interest savings account, the “robo advisors” are your next best bet (as you’ve found out with Nutmeg).

You’ll find a fair bit of disdain towards them from people who are familiar with other options that provide a more bespoke service and are comfortable investing their money and taking 100% of the responsibility.

But from my experience (and from speaking to others), it can be a happy medium.

It can also be frustrating when the market drops, and you find that you’ve lost money despite not actually doing anything yourself - But that’s just part of the rollercoaster that is investments!

If you’ve got the time to research - A FreeTrade type service will be great.

But if you don’t, I wouldn’t dismiss the robo advisors :smiley:


(David) #6

Hi Don,

I would be interested in the nutmeg offer of 6 months you have please?

Thanks

David


#7

I agree I like the control. I use Nutmeg just the the LISA they offer

Will be excited to do some research and try Freetrade soon


#8

Freetrade if you want to pick individual stocks or ETFs.

But for those who want simple set and forget investments which automatically rebalance and can be tailored to individual risk appetites I don’t understand why people use roboadvisors over something like Vanguard’s Lifestrategy funds. These are cheaper than roboadvisors and in my opinion just as easy to understand.


#9

freetrade for choosing your own investments.

Otherwise I am a huge fan of Moneyfarm. Delivered good returns, low fees, excellent communication through regular updates on what is going on with my investments, and some available to chat with to help set things up, explain anything etc.

Using my code MF135786 when signing up will give you ÂŁ5k managed free of charge for a year.


(Peter Shores) #10

Hargreaves Lansdown SIPP if you’re into pension saving and tax relief


(Jordan) #11

@don_quixote I think the offer is 6 months fee free for the other party and ÂŁ100 for you!

I think there is a definite line to be drawn as against LISA and ISAs as with a LISA you are “guaranteed” a 25% increase on your investment - and so a “Robo-advisor” that takes the freedom away but can boast some market knowledge and insight is great.

However, for an ISA it naturally lends itself to you having your own freedom to build your own portfolio and “learn” the market. I would open a Freetrade ISA however with the Dozens Bonds I now can’t open anymore S&S ISAs - so I have a standard Freetrade Account and will probably just have a play around with it.


(Simon) #12

How does the Freetrade ISA work? Is it similar to the Nutmeg and other stocks and shares isa where you select a risk profile or are you still choosing investments for yourself?


#13

You still choose the investments yourself. They’re not packaged.


#14

very much yourself but within the tax free wrapper of an ISA.


(Simon) #15

Thanks both. Planning to open a stocks and shares isa in the new tax year but never done it before so may stick with Nutmeg to start with


(Jordan) #16

So Nutmeg has both LISA and ISAs available: For Nutmeg you choose the risk level you are comfortable with and leave it there until you want to take it out - (For the LISA that means on retirement at a certain age or for the deposit on your first property within a certain limit).

And as @cs86 and @adztaylor have said the Freetrade App/ ISA allows you free range to pick and choose and build your own portfolio with the offerings they have.


#17

AJ Bell’s well reviewed SIPP account with more competitive pricing is worth considering.


(Splodf) #18

Anyone seen Nutmegs new update?

Introduced a cash pot that allows you to drip money into their managed or f.a. portfolios. Quite an interesting idea for those who follow a drip feed style investment.


#19

Have a bit more detail on this?


(Splodf) #20

What would you like to know?

Sounded real Balamory in my head.