For every investor, it is very important to have the basic understanding of the Stock exchange market. It is important to have knowledge of the functionality of Monthly contributions, Reinvested dividends, and the Rebalancing that make it more complex to determine your performance. All of these calculations are literally maddening. But with the advent of technology and internet, the life of an investor, as well as the broker, has been made a lot easier. Now there is no need for the huge amount of calculations. You are now provided with online software and applications that will do the job. Nowadays you can Buy, Sell, Calculate your dividends and monitor the ups and downs in the stock sitting at your home or office. Now the question is “What is the Best Online Investment Tools?” and the answer to that is given below.
Types of Tools:
The Online Investment Tools can be divided into four main categories. These are financial software, online stock simulations, social investing sites and portfolio tracking sites.
Finance and Performance Tracking Software:
The best sites for online tracking software are given below:
- Intuit’s Quicken – Quicken is an online investment tool just like others, but the only thing that makes it superior is the extra function to monitor all your portfolio returns.
- Analyze Now – It helps you to calculate all your dividends and portfolio returns by providing you with the spreadsheets.
Stock Simulation and Social Investing:
- Trade Monster – This simulation is a sort of game in which you are provided with Digital money and you are supposed to invest that according to the rules in the real world and with the same rates. The ups and downs in your simulation are according to the real world. In this way, you are taught to calculate and monitor your investments.
- Covestor – What makes Covestor different from the other Online Investing Tools is that through this tool you can also see what others are doing. You get to know about the investments of other brokers and in this way, you get an idea about your future decisions through comparison.
Portfolio Tracking Sites:
- com – Morningstar is better in this respect that it does not only tell you whether your stock went up or down but in addition to that it also tells you about the performance in the last 12 months. In this way, you get an idea about your past decisions.
- Stock Selector – Stock selector helps you to select the company to invest in through providing a list of all the companies and information about their past record. In this way, you get a vivid idea of the company you want to invest in.
Performance Tracking Sites:
- PortfolioMonkey – This site analyzes all your stocks, funds and ETFs and tells you about the risk in different investments and in the end, it tells the combined result of your total investments of all sorts to help you understand about your Business.
- Stockalicious – This Online investment Tool helps you to match all your trades with the other traders and analyze your performance according to the market.