With the rise of digitalisation, we may no longer need to consult with a stockbroker for investment tips or to manage our portfolio.
Almost every matter of investment, from diversifying portfolios to settling trading costs, can now be done on our smartphones. Thanks to robo-advisors!
Robo-advisors are online investment platforms running on algorithms that help you better determine where to invest and how to manage your money based on your financial status, risk appetite, and goals.
The best thing about robo-advisors? Everyone can use them, regardless if you’re a newbie or seasoned investor.
So today, we’re going to recommend 4 investment apps in Singapore worth checking out (and why they’re worthy of your attention!).
1. StashAway
StashAway is one of the first robo-advisors in Singapore. It recently hit the billion mark in total number of managed assets, so it’s clear that investors trust them!
With StashAway, funds are managed using algorithms, personalised according to the investor’s risk appetite and financial goals.
Since robo-advisors like this are mainly driven by algorithms, your investment strategy isn’t a concern. They’re great whether you’re a passive or active investor.
When configuring your portfolio, you have to choose an investment goal, which comes with its own recommended in-built portfolio. That’s why it’s ideal for beginners who know little about investing and want to start small.
Like most robo-advisors, the downside with StashAway is that you can’t buy or sell the individual stocks yourself, but you’re free to change your risk index score anytime.
And when you’re not sure what your next move should be, you can access its database of financial planning advice and investment tips anytime to keep your head in the game.
StashAway is available for iOS and Android
2. Syfe
Syfe is another robo-advisor that offers passive investing through personalised portfolios, managed by algorithms and overseen by experienced traders.
As with most robo-advisors, your portfolio will be based on your financial profile, risk status, and financial goals to make sure you’re placing your money in the right market.
Another thing we like about Syfe is that you can view the real-time status of your investments anytime and anywhere. It’s that accessible!
It’s an easy-to-use robo-advisor that allows users to make deposits and withdrawals right from the app. You may not even need to get out of bed to use it.
For its user-friendly platform and no minimum deposit, we’d strongly recommend it to investors who are just starting out and may not want to take huge risks.
You also have the option to speak with a wealth expert for financial planning and investment tips right from the app too.
Syfe available for iOS and Android.
3. Tiger Trade
Tiger Trade is an online trading app by Tiger Broker which is backed by Xiaomi and listed on the NASDAQ.
In terms of application features, Tiger Trade takes the top spot in our opinion!
It comes with charts and tools for analysis and insights, real-time stock quotes, watchlist asset classes watchlist, among others. Talk about making mobile investing easier!
There’s also a market news section that updates users on investment trends and prices and stock market developments.
We think it’s more appropriate for experienced traders due to the access to a wider range of investment options and global markets that include Singapore, Hong Kong, China, Australia, and the US.
However, if you’re a newbie investor who wants to start big, then Tiger Trade would be no less of an excellent choice!
Like StashAway and Syfe, there’s no account minimum but there are incentives for higher initial deposits.
Tiger Trade is available for iOS and Android.
4. SaxoTraderGo
SaxoTraderGo is an online trading platform that removes the stress of managing investments from an extensive range of asset classes, countries, and currencies.
It’s the perfect pick for experienced investors who want to tap into overseas markets and exchanges to diversify their portfolios.
No need to worry about high commission rates because its fees are actually lower compared to other brokerage firms. The minimum fee on SG stocks is S$5 while the fee for US stocks is $4.
However, compared to the first 3 robo-advisors, SaxoTraderGo requires an account minimum of S$3,000, which isn’t a small amount of money.
SaxoTraderGo observes a 3-tier system that rewards higher initial deposits. The higher the deposit is, the larger the discounts become.
That’s why we think it’s more suitable for seasoned investors who don’t mind shelling out a huge initial deposit and the risks that come with it.
Being a seasoned investor doesn’t mean you wouldn’t need any investment tips, so it's a good thing that you can stream expert analysis and news updates directly from the app.
Investing with robo-advisors
With the accessibility of online trading platforms, you no longer have an excuse not to grow your assets through investments!
These robo-advisors work for any type of investor, so don’t worry if you know nothing about the world of investment!
If you want to talk to an expert about investing strategies, or simply want advice on how to grow your assets, don’t hesitate to send us a message! We can connect you with experienced financial advisors who can help you reach your financial goals!