Much has changed in the world of investing in the last 20 years. The growth of online trading followed by mobile apps has made investing far more accessible. According to Ofcom’s 2021 Online Nation Report 42.5 million UK adults (94% of the online adult population) used apps on their smartphone or tablet devices.
Indeed it seems like another lifetime when a client of mine once sent a cheque by taxi from Edinburgh to Bristol on 5th April just to ensure he didn’t miss the tax year end deadline! Thankfully, making those tax year end ISA and pension investments is far simpler.
Investing can seem intimidating, but with the right mobile app, it can be a straightforward and accessible way to grow your wealth. At Behind Login we have supported our clients in this space to create compelling client journeys that improve onboarding, conversion and retention.
User experience (UX) is an essential factor to consider when choosing an investment app. A well-designed app can make it easier to navigate, track investments, and make informed decisions.
As the tax year end looms, we take a look at some of the best apps out there and the in app features they offer for beginners looking to make the most of their ISA and Pension contribution allowances for the tax year end and beyond.
Trading 212
Trading 212 is a commission-free investment app that allows you to invest in stocks, ETFs, and forex. Trading 212 offers a practice account that allows you to invest with virtual money before investing with real money. This feature is particularly useful for beginner investors who want to test the waters before committing to investing.
Through the app, users have access to a range of educational resources, including webinars, video tutorials, and articles. These resources can help investors learn more about the markets and make informed investment decisions.
eToro
eToro offers social trading, which allows users to follow and copy the trades of other successful investors. This can be especially helpful for beginner investors who may not have as much experience in the markets.
Users benefit from eToro’s competitive fees for its investment services. The app charges a low spread for its forex and commodities trading, and there are no commissions for stock trading.
Similar to Trading 212, eToro also offers commission-free trading and a demo account to practice investing before committing real money.
Hargreaves Lansdown
Hargreaves Lansdown provides investors with a range of educational resources, including research and analysis tools, investment ideas, and market insights. These resources can help investors make informed investment decisions. The company is well known for its excellent customer support, providing a safety net for investors who might need to speak with someone. Whilst the app is due an update, it still boasts functionality more than suitable for the average investor.
Fidelity
Fidelity offers a wide range of investment options, including stocks, bonds, mutual funds, ETFs, and options trading. This allows investors to create a diversified investment portfolio that meets their investment goals and risk tolerance.
Fidelity provides investors with a range of educational resources, including research and analysis tools, investment ideas, and market insights. These resources can help investors make informed investment decisions.
The app has a user-friendly interface that is easy to navigate and use, ensuring seamless user experience.
Nutmeg
Nutmeg has a clean and straightforward design, making it easy to navigate and understand. The app also offers a variety of educational resources, including blogs and investment guides called “Nutmegonomics”, to help investors make informed decisions.
Users get access to a range of investment portfolios that are diversified across different asset classes and geographies along with customised portfolios that allow users to create a customised portfolio based on risk appetite and investment goals. The app uses an advanced algorithm to suggest the best portfolio for users based on preferences and risk tolerance.
If you are a company looking to benchmark your investing app against your peers then check out Behind Login’s Radar. Each week we will update you on the changes, upgrades and new features that your chosen competitors are rolling out.
Through our access to thousands of real life investors and finance app users, Behind Login is uniquely positioned to provide in-depth competitor research to help your business develop products that are not only better, but create a difference.
