Invstr is an investing mobile app and an educational resource. The platform gives you access stocks, ETFs, American depositary receipts (ADRs) and fractional share investing. It also features virtual stock trading games and an investing fantasy league. Let’s compare the advantages and disadvantages to determine whether this app is a good fit for your investment needs.
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Invstr has been in business since 2013 when it was founded by Kerim Derhalli. While the app is free to download, you’ll have to pay up for the Invstr pro premium plan that expands your access. You’ll also be subject to varying service fees.
|Pros||– Well-rated mobile app|
– No-risk virtual trading
– Low fees
|Cons||– Limited functionality|
– Customer service limited to email and in-app message
|Best For||– Anyone looking to learn more about and start investing|
Fees Under Invstr
The Invstr platform by itself is cheap to take advantage of. The app is free to both download and use, and there’s no costs for the educational resources or the Invstr fantasy league. However, you’ll need to pay $3.99 per month for the Invstr pro subscription plan, which provides access to additional features like:
- Personalize investments with an automated portfolio builder
- Track performance with Invstr stats
- 85-lesson investment course from Invstr Academy
- Unlimited fantasy finance features
Invstr offers commission-free trading on thousands of U.S.-listed stocks and cryptocurrencies. And you can begin trading with as little as $5. You can also invest in fractional shares with a minimum of $5.
Invstr Fee Schedule
|Fantasy Finance||– Fantasy Finance, Charts & News, Leagues, Feed, Chat: Free|
– 10 trades: $0.99
– 50 trades $3.99
– 10 undos: $7.99
– 1MM Safety Net: $0.99
– 10 2x Power Ups: $7.99
– 10 4x Power Ups: $15.99
|Transfers||– ACH Bank Transfer, Deposit or Withdrawal: Free|
– Returned ACH, Wires, Checks (insufficient funds), Recall/Stop Payment: $30
– ACH Notice of Change and Paper Check Drafts: $5
– Wire Transfer Deposits: $8
– Wire Transfer Withdrawals: $25
|Regulatory Fees||– SEC Transaction Fee: $0.0000221/share|
– FINRA Trading Activity Fee: $0.000119/share
|Account Maintenance||– Electronic Statements and Trade Confirms: Free|
– Paper statements: $5
– Paper confirmations: $2
– ACAT Outgoing: $75
– Paper prospectus: $2.50
Invstr: Services and Features
Invstr started out as an educational resource for learning more about stock trading and markets. It gives users access to tons of articles through Invstr Academy, including around 100 articles, market blogs and podcasts. These can be helpful for newer investors who want to learn more before using their own money.
Another central part of the Invstr platform involves trading with virtual money, called Fantasy Finance. This provides a good way of learning how to trade without actually putting money on the line. With Fantasy Finance, you can manage $1 million of virtual capital without taking on any real risk. You get to “keep” what you “make,” and if you run out of virtual money, you can play games to earn more or “buy” more using credits. There is a leaderboard for the app, and those at the top are rewarded with more credits.
In an effort to become an all-in-one financial institution, Invstr also offers banking services as part of its Invstr package. The checking account you receive through this offer comes with a debit card and access to 56,000 ATMs. Your deposits in the account are FDIC-insured through Invstr’s partner bank, Vast Bank.
Invstr: Mobile and Online Experience
Invstr is an entirely mobile platform, so you’ll need to download the app to use any of its features. The Invstr app holds strong ratings on both the Apple and the Android app stores. More specifically, as of the time of this writing, Android users rate the app 3.7 stars out of 5, while Apple users rate it 4.6 stars out of 5.
The app is easy to use and navigate, whether you use the free version, pay for the premium package or use Invstr pro. You can easily toggle between educational resources, virtual investing and real investing. The app also seamlessly displays your investing stats so you can quickly check up on how your money is doing.
What’s the Catch?
The biggest catch here is that the Invstr mobile app is available only to U.S. investors. The platform’s educational resources are solid and comprehensive, though they’re better for beginners than expert investors.
Although Invstr boasts simplicity in its features, more experienced investors will likely find it limiting. This is not only true in the app’s lack of advanced investing tools, but also its investment selection. While stocks, ETFs and ADRs will satisfy some investors, it won’t meet everyone’s needs. On the other hand, its fractional share investing feature is quite beneficial.
How Invstr Compares to Other Brokerages
Invstr currently occupies an interesting niche in the stock-picking and brokerage market. It not only serves as an educational resource, but also as a place where you can trade real stocks. The fact that it adds in an element where you can virtually trade stocks makes it fairly unique among brokerage platforms right now.
Invstr definitely doesn’t have as many bells and whistles as platforms like Charles Schwab or even Robinhood. It’s still a solid option, though, with fractional shares being a major part of that. As for the rest of the platform, Invstr’s educational resources are on par with or even slightly better than some of its competition.
|Brokerage Firm||Fees||Minimum||Best For|
|Invstr||$0 for stocks, ETFs and ADRs||$1||– Beginner and intermediate traders|
|Robinhood||$0 for stocks, ETFs and options||$0||– Mobile traders|
|Charles Schwab||$0 for stocks, ETFs and options||$0||– Advanced investors|
Invstr is a solid investment platform that’s easy to use and provides several different features that make it a worthwhile choice. The ability to learn about stocks and markets, practice with virtual money and ultimately set up your own brokerage account to trade for real is a fantastic trifecta.
While Invstr doesn’t have as much functionality as other brokerage services, it’s still a great place to start. Its free educational resources and user interactions can easily help beginner investors blossom into more serious traders.
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Photo credit: MobileAppDaily, AppNews, Cadalyst, Invstr