Despite popular belief, people now are not investing more in the stock market than ever. In 2007, a year before the Great Recession and the US housing market crash occurred, around 65% of Americans had poured money into stocks. In the early 2010s, this percentage hovered at 52%. And currently, it stands at 58%, the highest since 2009. And many industry insiders are sure that, by 2025, more than 60% of US residents will be trading stocks, options, futures, and other financial securities or currencies. That primarily will get owed to the rise of online trading, investing apps, and market tracking software.
Studies show that the customer base of technologically-driven investing products is primarily individuals in the mid-twenties to late thirties age range who are also tech-savvy and like to follow trends. These are people looking to build wealth passively while incurring minimal risk. Thus, it should come as no surprise that they would turn to every instrument at their disposal on the road to hitting their financial marks. That is why share market tracker software is coming to the forefront now, even though this technology has been widely available for over a decade and a half. We elaborate on it in depth below while also rattling some of the top choices out there right now.
It is an application dedicated to improving users’ stock picking and research. Everyone knows that choosing the securities one should invest in can be a nerve-racking experience. Even more strenuous and stressful is the process of checking to see how investments are doing. That is where share market trackers come into play. They let investors create as many watchlists as they need to keep an eye on their investment possibilities and held assets. The usual type of securities one can oversee using these pieces of dedicated software include mutual funds, stocks, options, ETFs, and currencies/Forex. The prices of all these get updated automatically, through various sources, with users getting privy to the latest info, which they can use to superimpose countless formulas to figure out the health of their portfolio and the well-being of future investments.
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How It Works
There is not much to it. Essentially, these apps pull data from various streams regarding the state of a broad range of markets, such as those in the US, UK, Canada, Singapore, Hong Kong, China, Sweden, Switzerland, etc. These then get used to supply dynamic stock charts, price alerts, portfolio management services, investment idea tracking, and more, which is data than can get synced to other financial iOS and Android apps for added tracking ease. Most top-shelf picks even allow investors to import brokerage data in formats such as QIF, OFX/QFX, or CSV, automatically or manually. Then they can consolidate the information garnered into transactions groups, portfolios, or holdings, running gains/losses analysis on these while measuring their performance.
There are multiple. Many got outlined in the subheading above. A few more vital ones to add are that they eliminate the need for middlemen like consultants whose job is to feed investors the latest sector news and prices. They deliver AI-enabled data analytics, better asset performance monitoring than any human can provide, consolidate investment tracking, supply automated tax info, and will almost always help guide users to better choices.
The Principal Pros Explained
The crucial feature of every share market tracker software that investors love the most is the ability to create watchlists and watchlist groups. Concerning the latter, they bring together multiple securities watchlists, permitting users to track/scan from a high level. And inside these groups, virtual or combined subgroups can get created. These can implement a prices and fundamentals view, which allows investors to see the items in their watchlists in a customizable way, tailor-fitted to their needs. A fundamental one gives essential stock data, like their market capitalization, dividend yield, and PE ratio. The price view shows info about securities price movements for a distinct period.
Almost on the info garnered by these apps can get transplanted into charts that give comparisons a whole new dimension. Some options have up to fourteen technical indicators that can get utilized to compare performances over a specified time interval. These supply insight into what is driving the market or security.
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The list of share market tracker software choices is now vast. There is no doubt about that. Yet, few offer robust features that facilitate high-end investment research and monitoring. Some of the more established picks available to American investors are Kubera, which is likely the world’s most underrated stock tracking app, Seeking Alpha, Empower, StockMarketEye, and the Motley Fool Stock Advisor.
Comparison of Popular Tracking Options
According to many veteran investors, StockMarketEye is the best stock portfolio tracker housed on a device. That means the data gets stored locally and shared between users via an online integrated sync service. StockMarketEye has been around for a long time and works terrifically on the Mac, iOS, Android, and Windows operating systems. Its design may seem somewhat outdated, but its number of available functions is extensive. CNET once called it – one of the easiest stock trackers they’ve used. It offers a thirty-day trial, and those satisfied with what it has to offer can proceed to get the paid version of this product by shelling out its annual fee of $74.99.
Seeking Alpha has a rep for providing the most lucrative investment advice and as a service with top-shelf customer support. Parties interested in hand-picked individual stocks should definitely explore Seeking Alpha Premium, as it unlocks a pool of thousands of research reports, making this product an invaluable tool. The mentioned Premium iteration has a monthly cost of $19.99 and, in the eyes of many, is a much better value-for-money deal than the PRO version, which carries a hefty $199.99 per month price tag.
Empower is a quality portfolio management software for low to mid-range investors, with seventeen million customers. Formerly known as Personal Capital, Empower offers tax loss harvesting, free 401k fund selection advice, and personalized investment strategies. The service is free, but users pay for it in other ways, like with their data.
The Motley Fool Stock Advisor is another apt choice, as its recommendations, on average, have outperformed the market (by a significant margin), and have diverse tracking capabilities for its yearly cost of $79. And Kubera can be a simple but powerful partner on anyone’s wealth-garnering journey. Its algorithm selects the best connector for a user’s institution from a database of multiple account aggregators, offering seamless and reliable connectivity to brokerages, banks, and almost all investment accounts from anywhere around the globe. It supports all the major stock exchanges and has plans with monthly fees starting at $150.
There is no complexity involved in infusing one’s investment career with one of the mentioned tracking software or an unlisted one. In general, if an individual has an elementary understanding of the financial world, understanding what ticker symbols are, how streaming quotes work, and so on, then using any share market tracker will be a breeze. Its use should get principally get guided by intuition.
A Guide to Using Market Tracker Software
After selecting which tracker tickles a person’s fancy, an individual can choose to use its trial version or get a paid subscription, which unlocks all the software has to offer. Naturally, as discussed, different options may offer multiple plans that feature varied levels of app faculty.
The registration procedure for a trial membership will involve inputting one’s email, name, account username/password, and other personal data. On top of this, some software picks will also require credit/debit card info or that related to another viable payment method. Entering that data will often automatically initiate a paid subscription after the trial period ends.
Once an investor has an account set up, they can import their investment data from their financial institution or do so manually. Then, they can create watchlists and examine what guidance the app can churn out. Plus, they can use its held information to generate charts. These can let them draw conclusions regarding their investments or various markets.
To Sum Up
Without question, anyone serious about creating a diversified, well-balanced portfolio that aims to produce steady returns for years to come should look into getting a software share market tracker. It is a precious virtual assistant that shall lay out previously unattainable investment supervision, making spotting rebalancing openings simpler than ever. If the price tag of some higher-end alternatives seems a bit steep for some readers, they can opt for free software. And after seeing the benefits that share market trackers bring forth, maybe, forking over cash for paid choices may not seem like such a bad deal after all. In fact, it will likely be something that most will opt for once the pros of these tools become evident.