The Best Apps To Track Stocks For Millennials
There are various applications in Apple and Google stores for tracking the stocks, however only a few of them are really ‘usable’. Robinhood keeps disrupting the brokerage industry with its innovative design which is user-friendly and convenient, or at least it used to be. As time goes on, Robinhood app gets a bit more complicated, however let’s talk more about stock trackers for iOS, their advantages and disadvantages.
Default Apple Stocks app
The default app is pre-installed on your iPhone and I think everybody is quite familiar with the interface and how the application looks like from inside.
One of the major advantages of this app is that it’s pretty simple and straight forward, you can find most of the stocks there. Some key metrics are on the same screen, you can change the order of your only watch list. You can see large chart when you flip the phone horizontally:
Some of the disadvantages include: there is only one watch list available meaning you have no option to group the stocks based on your needs. The data in the app is 15 minutes delayed, sometimes it’s a huge disadvantage, but for most of millennials who check the stocks a few times a day it shouldn’t be that big of a problem. The app contains limited information about the company’s financials and metrics, this app has just 10 ratios to show about each and every stock.
From the user interface standpoint, there is a couple of minor disadvantages: the search field is two taps away from the home screen, changing the order of the stocks is one tap away, no visual interpretation of stock price changes etc. This app also doesn’t have the portfolio aggregation; you can’t trade stocks from the app either. This default application is best suited for monitoring a small selection of 10 to 15 stocks.
In is convenitiely pre-installed on your phone, but due to its limited functionality most people have to explore other apps.
Yahoo Finance App
Yahoo Finance has been pushing their app through various marketing channels (does it mean that Yahoo Finance is the major Yahoo’s asset?). Yahoo Finance definitely has a lot more features than Apple’s default Stocks App. First feature is ability to create multiple watch lists, you can create your custom watch lists and the process is fairly straight forward. The only problem is switching between your watch lists — you have to open up a separate menu page where you can select your watch list.
Another great feature of this app is portfolio aggregation and trading — you can connect your brokerage account to the app and monitor your portfolio performance there. Convenient if you’re long-term investor or prefer to sit in your investment for a while. Yahoo Finance has its default newsfeed for every stock and watch list you follow which is also very convenient, as far as the news come up right below the stocks you watch. Yahoo Finance also has ratios and financials, analyst recommendations and more, however you have to go deep into the stock to get this info.
This app is much more useful than the Apple’s default one. However when you take a look at the very first screen — you’ll see various font sizes and multiple numbers, complicated navigation inside the watch list (to rename or remove the watch list you have to click three dots next to the name etc.), looks like Yahoo Finance is trying to add everything inside the application.
Yahoo Finance is good to use, however the design isn’t intuitive and you have to search a bit to find the necessary features and buttons.
We’ve been analyzing various applications before creating the WealthTrack and, as it usually happens in product development, we’re trying to find the balance between the intuitive and user-friendly design, informative data and various features. The beta version of WealthTrack is focused on presenting the data: easy access to various data points, straight forward navigation. In addition to the nice format we added two powerful features: watch lists and custom alerts. So now you decide what stocks to monitor and how to get notified.
As you may see, we do not have any ads in the application, our design is clean and we plan to keep it that way. We wouldn’t push you towards clicking some ‘fake news’ or clueless ads — now you decide what stocks you’re going to monitor, what information you’re going to read about them and what alerts to set up.
The next big thing that we’re working on is portfolio aggregation and optimization. We want WealthTrack to be one-stop-shop in the brokerage world. No doubts that people have retirement accounts with Vanguard or other big firms, however at the same time trade stocks with other broker dealers. So the next big addition that would be available in the app — an option to connect brokerage accounts.