MyWallSt is a popular online stock-picking service that functions through the use of two different mobile apps. The main app is simply called MyWallSt, while Learn by MyWallSt gives users access to additional investment resources. MyWallSt has gained popularity by picking a number of great growth stocks over the years, helping its user return hundreds and sometimes thousands in percent gains. While MyWallSt can be linked with an existing brokerage account, the service is only a stock picker and you won’t be able to use MyWallSt alone to buy and sell stocks. Investing research and recommendations are important, and sometimes a financial advisor can be even more helpful than an online service. Consider using SmartAsset’s free advisor matching tool today to be connected with advisors in your area.
|Pros||– Highly rated mobile app |
– Historically great stock picks
|Cons||– No proprietary trading platform |
– Limited research tools
|Best For||– Those who want stock picks |
– Investors with existing brokerage accounts
|Drawbacks||– Very simplistic|
Fees Under MyWallSt
While MyWallSt isn’t exactly chock full of features, one place where it excels above the competition is when it comes to fees. However, it’s important to remember that its fee schedules will be different than those of a traditional brokerage service. Since MyWallSt doesn’t have a proprietary trading platform, you won’t be charged for trades or transactions associated with your brokerage account.
The only thing you’ll pay for directly when it comes to MyWallSt is stock picks. It’s free to make an account, and you can access a free trial for seven days. If you want long-term access to the platform, you can pay for one month, three months or a year at a time. You’ll pay $16.49 for month by month access, $29.99 for a three month package and $79.99 for the whole year. You have to select one of these packages to take advantage of your free trial, but you won’t be charged if you cancel before the free trial expires.
MyWallSt: Services and Features
When it comes to MyWallSt’s services and features, you won’t find as many as you might with a more traditional brokerage service that allows you to directly buy and sell securities. While you can link your existing brokerage services and make trades through MyWallSt, you can’t actually set up a brokerage account with MyWallSt. If you do choose to link you brokerage account, you’ll be able to create a watchlist and monitor your portfolio.
MyWallSt’s main function is as a stock-picking service that can help you decide which stocks to buy or sell on your existing brokerage account. While you have the option to link an existing brokerage account to your MyWallSt account, you don’t have to. You always have the option to just take the information you glean from MyWallSt and do whatever you please with it. While MyWallSt provides one stock pick per month, it is noticeably absent the technical and fundamental analysis behind the pick.
If you’re interested in getting more in depth market research out of your MyWallSt account, consider checking out Learn by MyWallSt. Learn is a separate app that provides more in depth analysis of markets and stock picks. It gives users access to 40 investing lessons written by the company’s investment team.
MyWallSt: Online and Mobile Experience
MyWallSt is primarily available as a mobile-based experience. The app earns high marks on both the Apple and Google app stores. The app has an average of a 4.3 star rating on the Google Play store and an average rating of 4.6 stars on the Apple app store. The Learn by MyWallSt app has similarly high ratings, though not as many reviews as its counterparts. This app has a 4.6 star rating on the Apple app store.
The MyWallSt app is pretty straightforward and easy to use, though part of that is owed to the fact that there isn’t that much detail available on the app to begin with and therefore it’s hard to get lost in a barrage of features. It’s easy to see your portfolio as well as buy and trade, should you choose to link your account. It’s also easy to see your watchlist and, of course, see the stock picks provided by MyWallSt that you’re paying for to begin with.
While MyWallSt is mobile-based, you can still access your account, as well as Learn by MyWallSt, on your desktop computer. The user experience is similarly straightforward, and most users likely won’t have much difficulty navigating the platform.
What’s the Catch?
The biggest drawback when it comes to MyWallSt is functionality. While it’s a great option for anyone looking for a paid stock-picking service, you won’t get much more out of it. It’s not a brokerage service, so while you can link an existing brokerage account, the functionality you’re paying for with MyWallSt is simply one stock pick per month, a watchlist, resources from Learn by MyWallSt and a platform where you can execute trades on your existing brokerage account.
While some may see stock picks as a worthy investment, it’s easy to make the case that your money might be better spent paying for a brokerage service that provides research resources that you can use on your own. Make sure you fully understand the scope of services available through MyWallSt before paying for its services.
How MyWallSt Compares to Other Companies
If you’re comparing MyWallSt to brokerage companies, it doesn’t stack up much at all, mainly given the fact that it isn’t in and of itself a brokerage platform. It’s better to compare MyWallSt with other stock-picking platforms, such as Motley Fool’s Stock Advisor. MyWallSt is cheaper on average, costing $79.99 for a year-long plan. However, MyWallSt only gives one stock pick per month. Stock Advisor, on the other hand, provides two picks per month and some additional features but at a regular price of $199 annually.
MyWallSt isn’t bursting at the seams with features, but it’s a solid option for anyone looking for a stock-picking services that can help them earn long-term returns on their investments. Some of MyWallSt’s stock picks have grown in value by hundreds and even thousands of percentages points. While it’s certainly possible to do this type of stock research on your own without paying a fee, MyWallSt will do it for you while allowing you to link an existing brokerage account and make trades directly on the app.
- Investing and picking stocks for your portfolio can be difficult at times, and having a financial advisor in your corner can be a great move. Finding the right financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with financial advisors in your area in five minutes. If you’re ready to be matched with local advisors, get started now.
- If you’re going at your investments by yourself, it pays to be prepared. SmartAsset has you covered with a ton of free online resources to help you manage your investments more effectively. For example, check out our free asset allocation calculator today.
Photo credit: mywallst.com, tradingreview.net, daytradereview.com