Whether you’re a seasoned trader building a portfolio, an active day trader, or a total investing beginner, artificial intelligence (AI) is transforming the world of investing. In 2023, more and more apps are utilizing powerful AI algorithms to analyze the stock market, identify opportunities, and even automate trades.
But with so many AI investing apps out there, how do you choose? Here’s a quick rundown of what we’ll cover:
- The top 6 AI investing apps making waves in 2023
- Overview of each app and key features
- Who each app is best suited for – active traders, passive investors, or beginners
- Pricing and cost information
- My recommendations for the best AI investing apps this year
In this post, I’ll highlight the top AI investing apps and how they can supercharge your investing strategy with things like machine learning, predictive analytics, and natural language processing. Whether you want AI-generated ideas, analysis, or completely automated trading, there’s an app that aligns with your goals and experience level.
Let’s explore the top 6 options and see how artificial intelligence is disrupting finance in exciting ways! I’ll provide an insider’s look at how these apps work so you can leverage AI and take your investing game to the next level in 2023.
Best AI Investing Apps and Software in 2023
Below, I’ve listed, in order, the top AI trading and investment apps for helping you reach your financial goals. These apps take into account everything from the highest quality investment strategies to the most current market trends. Decide which investment and trading platform best suits your needs.
Top AI Tools To Help With Investment Decisions
- Acorns – Best for beginning investors
- Trade Ideas – Most comprehensive AI analytics
- Betterment – Top robo-advisor
- Charles Schwab – Excellent educational resources
- VectorVest – Leading stock analysis and valuation
- TrendSpider – Best for technical analysis
One of the best investing apps for beginners is Acorns, which offers automated micro-investing services. This app allows you to invest your spare change from everyday purchases into a diversified portfolio effortlessly. Acorns uses artificial intelligence to analyze your spending habits and invests the “round-ups” from purchases into low-cost ETFs aligned with your financial goals.
Acorns include easy set-up, automated investing, and access to prebuilt portfolios developed with AI.
The app also provides valuable educational resources about investing basics, retirement planning, and more.
The $1-3 monthly fee may be high for smaller accounts under $5,000. Additionally, Acorns offers limited ability to customize your investment strategy beyond the preselected ETF portfolios.
Overall, it’s an excellent tool for hands-off, beginner investors who want an automated way to start investing small amounts.
If you’re an active trader looking to leverage AI to find your next great trade, Trade Ideas must be on your radar. This app is kind of like having your own personal AI analyst to scan the markets and generate fresh, actionable trade ideas for stocks, ETFs, and options.
- The AI is super powerful and actually pretty brilliant at spotting opportunities. It looks at charts, earnings reports, social media chatter, and more to detect trading opportunities.
- You can customize filters based on your own trading strategies. So, the AI will only alert you to trades that fit your personal criteria.
- Real-time alerts and analysis make it easy to act quickly when the AI spots a promising setup.
- Comprehensive features, including backtesting, make this one of the most robust platforms.
- It’s definitely not for investing newbies. You’ll need some trading experience to get the full value here.
- Pricing starts at $228/month, so it’s one of the pricier options.
Overall, if you want your own AI assistant generating fresh trade ideas for you, Trade Ideas is easily one of the top choices for active traders in 2023.
Just be prepared for some complexity and cost.
If you want AI to manage your investments, Betterment is one of the top robo-advisors out there. This app acts as your personal AI money manager – it’ll create a diversified portfolio of stocks and ETFs for you, automatically invest your money, and even rebalance your holdings over time.
Here’s what makes Betterment a standout:
- The AI helps select customized ETF portfolios aligned with your financial goals. It picks high-quality, low-fee funds for you.
- You don’t need to be an expert to benefit. Betterment’s AI handles the investing for you once you set your target allocation.
- Automatic rebalancing and tax optimization help maximize returns. The AI manages it all for you.
- Excellent selection of account types, including IRAs and trusts.
- A management fee of 0.25% could be pricey for larger portfolios.
- Limited customization since the AI picks your investments.
- A management fee of 0.25% could be pricey for larger portfolios.
- Limited customization since the AI picks your investments.
If you want a hands-off approach where AI handles your portfolio management, Betterment is a top choice. The easy user experience and automated investing features make this a great AI investing app for beginners.
Charles Schwab is a leading brokerage that also offers excellent AI investing tools. If you have an account with Schwab, you can access Schwab Intelligent Portfolios, which allows AI to manage your investments.
Here’s a quick rundown of what I like about Schwab:
- No advisory fees for accounts over $5,000 is awesome. You pay barely anything for AI investing expertise.
- Tax-loss harvesting and automatic rebalancing help optimize your returns. The AI handles it for you.
- Excellent suite of educational resources helps you learn investing basics. Great for beginners.
- Solid choice of account types, including IRAs. Suitable for long-term retirement investing.
Potential cons to consider:
- Limited customization since the AI builds your portfolio. But you can set a general risk tolerance.
- Cash allocation is a bit higher than some other robo-advisors.
Overall, Schwab is a solid option if you want automated, AI-powered investing combined with excellent educational resources. Low fees make it affordable for beginner investors focused on long-term, hands-off portfolio growth.
If you’re looking to leverage AI to enhance your own stock analysis and investing decisions, VectorVest is a solid app you may want to consider.
Here’s what I like about it:
- The AI scours market data and uses a proprietary valuation system to rate each stock. This helps you find diamonds in the rough with upside potential.
- You can screen based on the AI ratings to surface promising opportunities that match your investing criteria.
- The charts and visuals make it easy to compare stocks at a glance. The AI highlights key metrics for you.
- Customizable alerts tell you when the AI identifies an excellent chance to buy or sell. This automates some of your workflow.
Potential downsides to think about:
- It’s less hand-holding than a full robo-advisor. The AI gives you ideas, but you decide what to ultimately buy and sell.
- Total investing newbies may feel overwhelmed since it does require some stock analysis on your end.
In a nutshell, if you want AI to help power your stock research and investing decision process – but not automate everything – VectorVest is a really solid choice worth looking into.
For technical analysts and short-term traders, TrendSpider is one of the best AI investing apps out there. It provides powerful technical analysis capabilities enhanced by artificial intelligence.
Here are some of the key features I like:
- The AI scans charts and detects technical patterns in real time, alerting you to formations as they occur. It’s super helpful for analysis.
- You can create custom scans based on indicators and criteria that match your trading style. It makes it easy to find setups.
- Comprehensive charting and backtesting allow you to visualize market data. The AI highlights insights for you.
- Useful for stocks, forex, cryptocurrencies, and more. Flexible for various assets.
- Geared heavily toward short-term trading. Less useful for long-term buy-and-hold investors.
- Steeper learning curve if you’re new to technical analysis. The AI helps, but you need some background.
Overall, if you want AI to turbocharge your technical analysis and day trading, TrendSpider should be high on your list. Just expect a bit of a learning curve upfront.
Stock Market AI Investing Apps: What Are They?
As you can see, there are a variety of excellent AI investing apps to choose from in 2023. But what exactly are these artificial intelligence investing apps and services? At a high level, AI investing apps utilize advanced algorithms to analyze market data, generate trading ideas, automate your portfolio, or even execute trades for you.
In other words, these AI apps act like a superpowered virtual assistant for your investing strategy! Here are some of the key ways they can help:
- An AI stock trading bot can screen for trading opportunities around the clock based on your custom criteria. This allows you to automate part of your workflow.
- Powerful machine learning algorithms help uncover insights into market trends, sentiment, earnings reports, etc.
- Robo-advisors use AI to automate portfolio management, from asset allocation to rebalancing and tax-loss harvesting.
- Some apps enable fully automated AI trading, allowing an algorithm to buy and sell on your behalf within defined parameters.
Next, let’s explore the different types of AI investing apps and critical features in more detail so you understand how they work. Comparing the top options can help you find the best match based on your investing goals and experience level.
Should I Be Concerned Using Artificial Intelligence Investing Apps?
When it comes to using artificial intelligence for saving and investing, it makes total sense to have some concerns about handing control over to a robot.
I mean, these AI stock trading apps and algorithms seem great on the surface. Who wouldn’t want a super-smart virtual assistant to give you investing ideas, analyze the market, and even make trades for you automatically? It almost sounds too good to be true!
But here’s the thing – as helpful as AI trading apps can be, keeping a level head and not getting swept away in the hype is essential.
Don’t just blindly follow an AI bot’s tips or let it trade for you without doing your own research. Make sure to customize the parameters carefully because we both know markets constantly change. Things that worked amazingly yesterday might not work tomorrow.
Also, don’t be afraid to ask questions about how the AI works and what its limitations are. Any good company should be transparent if they want your trust. And it never hurts to compare a few different AI investing services to get some different perspectives. Variety helps reduce blind spots.
So, in a nutshell, AI investing tools aren’t magic.
They need human wisdom and common sense, too. Use them as a tool, but stay vigilant. With the proper precautions, AI and humans can work together to get some pretty awesome investing results potentially!
But we have to learn to use these new AI technologies responsibly.
Reason To Use AI For Trading In Stock Market
So we’ve talked about being cautious with AI investing tools – but what are some of the top reasons you might actually want to use this new technology? Look, I get it – the idea of handing control to a robot can seem scary. But when appropriately applied, AI has some killer features that can seriously level up your trading game!
For starters, AI tools can analyze more data and identify patterns faster than any human could. We’re talking about processing millions of data points across price charts, news, filings, and more. An AI bot is like having your own tireless research assistant working 24/7!
AI can also remove emotions from the equation by following parameters consistently. No greed or fear influencing trading commissions – just cold, complex data. And AI software doesn’t get tired or have off days. Its performance doesn’t wax and wane like us humans.
Now, don’t get me wrong, AI investment apps aren’t a magic bullet.
You still need human intelligence and oversight to make investment decisions.
But the real power comes in by combining AI’s raw speed and data processing with human wisdom, creativity, and risk management.
Together, we can achieve far more than we could alone when it comes to trading stocks. Exciting times!
Next, let’s look at some of the top proven ways traders put AI to work in the stock market and see phenomenal results with an AI trading assistant. The future is here, my friends!
Who Needs AI Stock Trading Software?
AI-powered trading software and robots sound awesome…but is it really necessary for every investor? Or are these advanced tools only valid for a specific type of trader?
The short answer is that AI trading capabilities can benefit many investors but are especially valuable for specific personas and situations. For example:
- Active traders can leverage AI to find potential opportunities faster through data analysis that would take a human weeks. The sheer speed of AI lets you act quickly.
- Beginners may appreciate robo-advisors that automate investing based on their goals. Hands-off portfolios tailored by AI algorithms make investing simple.
- Retail investors can let AI bots execute their strategy consistently 24/7 without fatigue or emotions. AI won’t waver based on the latest news or its personal mood that day.
Of course, AI isn’t a requirement. Plenty of veteran investors succeed without it through traditional analysis and their accumulated experience. But, integrating AI into your workflow can boost investment returns if used wisely.
Next, let’s explore specific investing personas that stand to benefit the most from powerful AI investing capabilities for executing stock and ETF trades. The use cases reveal where this technology excels.
Can AI Guarantee Future Investment Success?
It’s an appealing idea – having an AI bot that predicts the markets flawlessly and prints your money automatically.
Who wouldn’t want a crystal ball for upcoming market movements?
The reality, unfortunately, is that nothing can “guarantee” investing success, not even the most advanced AI. There are no crystal balls or money-printing robots. Markets have too many complex variables.
That said, AI and machine learning do offer advantages that may improve your odds when applied properly. AI tools can quickly analyze more data, news, and patterns than we humans can’t. AI also enables consistent, unemotional investing once configured.
But, any quality AI-based investing service should provide transparency around limitations and risks. Responsible AI is about enhancing human intelligence, not replacing it. Wise investors combine AI with their own experience and critical thinking. You cannot replace sound human experience and investment advice.
At the end of the day, investing well requires assessing popular AI tools with sound judgment. Automated trading strategies must be robust and adapt to evolving markets. It’s unreasonable to expect any AI to deliver foolproof returns.
But, used judiciously, AI can stack the odds further in your favor.