What is Stash? Stash is the newest investing platform that is entirely mobile-based and its available on both iOS and Android. The first thing new users notice after downloading this app is that is has a clean interface and is user-friendly for new investors to the stock market, in fact, you can start investing on stash with as little as $5! The concept behind Stash is stashing away money. The app is set up so you can set automatic deposits into your Stash account, this way slowly adding money to your investments and making your money gradually work for you over time. This app is designed for new investors looking to get started in the stock market world.
The first pros of the stash investing app are like I said, the minimum investment required. You can get started investing with as little as $5, which is a lot cheaper when you compare it to other brokerages where you need hundreds of dollars to get started investing and buying single shares of stocks. It is important to know that all the investment funds available on Stash are well established ETS from well-known investment firms like Blackrock, Vanguard, just to name a few. Stash makes it a lot more accessible with five dollar increments to new investors who may not have thousands of dollars at their disposal, and furthermore, there are no trading fees or add-on commissions to use this app like there are at larger brokerages. It is important to remember that there is a $1 monthly fee to use the Stash app.
Currently, there are 33 pre-selected custom ETS investment options for every type of investor whether you want to be aggressive, conservative, or somewhere in between. There are also different niches and sectors that you can choose from, overall, it takes the guesswork out of investing as you can quickly look over the pre-selected options, read their overview and performance and determine the ETS that suit your taste. Now let’s discuss the cons of the app, there is a limited selection there are only about 33 investment options to choose from. Also, you cannot invest in individual stocks on Stash except for one, other than that all the other 33 investments funds are all ETF. With Stash, you don’t have the option to invest in individual companies. The last con is that there’s no desktop platform right now it’s entirely mobile-based. CNN money wrote an amazing article as well that explains the benefits and how to use the app.
Now, regarding pricing, there are no trading fees or add-on commissions to use the app. However, there is a one-dollar fee per month on balances up to $5000, and for balances above $5000, there’s just a 0.25% fee per year on those accounts. Plus your first month on Stash is free, overall that’s incredibly cheap in the world of trading commissions that can range from five to seven dollars per trade at larger brokerages. Kevin O’Leary, influencer, chairman of O’Shares ETF Investments and investor in Shark Tank believes that investment app are the future for small investor
The Finance Note 