Today, there’s no reason not to stay in touch and on top of your investing and financial activities anytime and anywhere, thanks to the power of mobile devices like the iPhone. The range of available options and powerful apps can be dizzying, so we have talked to some experts to come up with five apps for investing and managing your finances that you may come to consider as indispensable.
1. NASDAQ Mobile
2. NASDAQ QFolio
Since NASDAQ was the first all-electronic exchange, it should be no surprise that NASDAQ is also a leader in supporting mobile investors. NASDAQ.com is already "The Source" for financial data for more than three million monthly unique users who rely on the NASDAQ.com website for real-time last sale data, stock quotes and the latest financial information. Now NASDAQ.com is a player in the mobile financial space as well with the m.nasdaq.com site and the NASDAQ Portfolio Application (QFolio) for the iPhone and iPad.
Formally called the NASDAQ OMX Portfolio Manager, the app offers innovative visualization capabilities for stock market enthusiasts to view and engage with the stock market in real time. It is also capable of supporting serious business. For example, Portfolio Manager allows users to build a portfolio and watch list using real-time stock price data for U.S., Nordic and Baltic stocks. The app includes a flashing price screen to highlight real-time movements. A chart overlay shows technical analysis so you can draw on-the-fly performance charts and overlay them with curves for technical indicators. You can also view high-quality video clips from StockTwits TV and from the NASDAQ Market Intelligence Desk; and post tweets on StockTwits' real-time stream. The NASDAQ OMX Portfolio Manager App is available for free from the App Store on iPad.
3. Chaikin Power Tools
Of course, there are lots of other apps for market watching and trading. Individual investor Billy Laden, a former stock broker and “serial entrepreneur,” swears by an application called Chaikin Power Tools for iPhone. The app was developed by stock market expert Marc Chaikin, based on tools long-used by professionals. It aims to simplify buy-sell decisions by digesting a wide range of financial information and turning it into a simplified three-color display in which green is bullish, red is bearish and yellow is neutral.
Laden says he has come to trust the basic insights provided by Chaikin Power Tools. “If a stock displays as red I won’t touch it – I only look at stocks with green or yellow displays,” he says. Using the tool to watch for stocks – and watch for changes in stock coloration, Laden says he is able to make rapid, and generally profitable, trades. “I was grocery shopping with my daughter, who also is active in the market, and she was astonished when she saw that I had made a purchase decision and a purchase in just a few seconds,” he says.
According to the company, Chaikin Power Tools has been “back-tested” on 10 years of data by a stock screening expert and was able to successfully identify stocks which will outperform or underperform the market over a three- to six-month period.
The app can support both stock and option trading and is built around a 20-factor model that analyzes information relevant to stock performance. The app also provides real-time alerts of relevant news stories or earnings surprises and estimate revisions. Desktop versions of Chaikin Power Tools are also available.
4. ABUKAI Expenses
News of other useful apps was brought to us by Scott Gamm, founder of the personal finance website HelpSaveMyDollars.com, and a frequent guest on NBC's TODAY, MSNBC, CNN, Fox News Channel, Fox Business Network, ABC News, CBS and Oprah Radio. Gamm cites two favorites: Pageonce Money & Bills, and ABUKAI Expenses. Each focuses on controlling and managing the expense side of your financial health.
For example, ABUKAI Expenses, aims to simplify the capture and recording of spending information as you go through your day. It uses the camera on a mobile phone as a data-entry device: you just take a picture of each receipt you get. When you submit the image, ABUKAI analyzes it and populates your expense report, including cost categorization, date, vendor and other relevant information. The app also generates a PDF document with a copy of each receipt image. ABUKAI can also be used for corporate account customers because it provides the option of inputting an expense directly into an existing expense management or content management system.
“It’s a great app...allowing you to easily track your expenses,” says Gamm. ABUKAI Expenses is available for download from Apple’s App Store, at BlackBerry AppWorld and from the Android Market.
5. PageOnce Money & Bills
Gamm’s other favorite is Pageonce, a popular finance service for mobile devices that has grown by more than 300 percent in the past year and now claims several million users. Pageonce Money & Bills brings together your accounts in one location on a mobile device. It offers an overview of investments as well as cash, payments due and credit cards. Users also receive relevant money-saving offers for better credit cards, insurance and other financial products, reminder alerts and a calendar view showing when bills are due.
Of course, this short list of apps is only scratching the surface. There are many more that you should consider as helpful tools for boosting your financial smarts and enhancing your investment capabilities. But these are certainly worth a try!