This is my review for the Invstr app which is available to download from the Apple app store and Google Play and is used by active traders and beginners alike.
The app allows you to choose your level, from learning how to invest to stats and tools which will help you to invest like a pro without an investment adviser.
Read my review below to find out if Invstr is right for you, and if so, which type of account you should select.
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Invstr Introduction
Invstr is a great trading app for mobile investing and educational tools that was founded in 2013. The Invstr community includes 3 million people across 230 different countries. They offer a strictly mobile platform, so users will have to download the investment app to begin investing with an investment adviser.
Invstr started as a financial education app, and Invstr’s free educational resources and user interactions can help beginner investors turn into more serious traders. Invstr is a great choice for active traders and passive investors, due to their variety of options and trading tools focusing on personal finance.
Invstr Ratings
Overall
Pros
- Low fees and commission-free trading
- Virtual trading available at no cost
- Great educational resources
- Fractional shares available
Cons
- Limited functionality
- Education not great for experienced investors
- No specialty accounts available
Why Use Invstr
Invstr has set out to make it fun for users to learn about investing in a way that is unique amongst investment apps, providing engaging educational resources up front before users have an ability to trade stocks.
Invstr’s mission is to power the everyday person to learn to invest and to create a sustainable future for their personal finance situation and for generations to come.
Invstr now supports investing directly with them as a broker dealer for increased convenience and security, where as before investing required an external DriveWealth account for brokerage services. Invstr’s mobile app is easy to use, and users can conveniently switch between an educational tool, virtual investing, and real investing.
Invstr is a great app for investors to engage in commission free trading. Fractional shares of stocks and other investments are also available.
Invstr Accounts
Investors can begin trading for as little as $5, and the Invstr+ accounts make it easy for investors to digitally invest without moving money from their primary accounts. Users can invest in US stocks, ETFs, and fractional shares with no commission fees. They offer crypto trading commission-free as well.
Invstr+
The Invstr+ package offers banking services, including a debit card and access to 56,000 ATMs across the country. Investors can send and receive money or make quick transfers to other Invstr+ members. Invstr+ members are also able to send money and crypto to other members almost instantly with P2P transfers. Deposits are FDIC-insured through Vast bank, Invstr’s partner bank.
Invstr Pro
Investor Pro members have more features, including access to Invstr Stats, providing detailed daily insights on investment style, portfolio performance, and their personal Invstr score. Invstr Pro’s Portfolio Builder gives investors access to personalized investment picks suited for their investing style, risk tolerance, and goals. Invstr Pro members also get full access to all 85 lessons of Invstr Academy’s investment course, and unlimited fantasy finance features.
Invstr Jr
Invvstr Jr is an investment plan available for kids under the age of 18. Young investors can access lessons on money management and smart spending, including how past performance of stocks doesn’t guarantee future results. Recurring investments can be set up to get them started early. Also for Invstr Jr members, Invstr Academy offers a 10 module child-friendly course on investing.
Fantasy Finance
Invstr offers a virtual trading account for users to practice investing. Investors are given $1 million in a virtual portfolio in order to practice trading risk free in a platform that mimics the ups and downs of the stock markets. Investments for virtual money can be made in units of $50,000, $100,000, and $200,000 at a time, and investors are able to connect with friends and compete on a global leaderboard using digital assets based on portfolio performance.
The Fantasy Finance game is divided into 3 leagues, the Raw League, Supreme, and Xtreme Leagues. The Raw League is entered at the beginning of the month, and when users use a power up or undo, they are entered in the Supreme League. The Xtreme League is entered when an investor uses 400 trades. Those at the top of the leaderboard are rewarded with more credits, including in-app prizes and a cash voucher.
Invstr Account Costs and Fees
Invstr Pro – Invstr Pro includes unlimited Fantasy Finance trades, Safety Net, Advanced Charting and Portfolio Builder. An Invstr Pro subscription is free for the first 90 days, then costs $3.99 per month.
Fantasy Finance – Access to Charts & News, Leagues, Feeds, and Chat are free. For in-app purchases, the costs are:
- 10 Trades – $0.99
- 50 Trades – $3.99
- 10 Undos – $7.99
- 10 2xPower Ups – $7.99
- 10 4xPowerUps – $15.99
- 1M Safety Net – $0.99
Invstr Education
Invstr Academy offers powerful educational tools to enable users to get the most out of their investments and improve their personal finance situation. Available are 85 articles, market blogs, and podcasts. Investors can learn about topics such as how investing involves risk, and have access to market blogs, polls, Invstr Crunch, and podcasts.
Market blogs include articles from their archives, describing important market news and updates. The educational resources, while informative and substantial, are more useful for beginners than experienced investors.
Questions I get asked about Invstr
Is Invstr a good app?
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.
Which cryptocurrencies does Invstr+ cover?
The cryptocurrencies currently available to trade on Invstr+ include:
- Aave (AAVE)
- Algorand (ALGO)
- Bitcoin (BTC)
- Bitcoin Cash (BCH)
- Cardano (ADA)
- Chainlink (LINK)
- Cosmos (ATOM)
- Ethereum (ETC)
- Filecoin (FIL)
- Litecoin (LTC)
- Orchid (OXT)
- Tezos (XTZ)
What information is required for ACATS transfer to Invstr+?
When initiating an ACATS transfer, you will be asked for your account number. Below is a list of common Account Number Formats:
- Robinhood: Account Number is 9 characters, all numeric.
- TD Ameritrade: Account Number is 9 characters, all numeric.
- Fidelity Investments: Account Number is 9 characters and typically begins with a letter followed by eight numbers.
- Charles Schwab: Account Number is 8 characters, all numeric.
- Merrill Edge: Account Number is 8 characters, combination of alpha and numeric
- Vanguard: Account Number is 8 characters, all numeric.
- Stash: Account Number is 8 characters, combination of alpha and numeric.
- J.P. Morgan Clearing Corp: Account Number is 8 characters, all numeric.
- DriveWealth LLC: Account Number is 17 characters, combination of alpha and numeric.
How much does Invstr cost?
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+ premium subscription plan, which provides access to additional features like interactive investing courses and extra trades.
How does the Invstr app work?
Invstr Stats allows you to track your performance by providing insights on your investment style and portfolio. The Portfolio Builder tool could be interesting to passive investors who want to ease into active trading. This tool helps you make stock picks based on your investment style and risk tolerance.
How many people use Invstr?
Over 1 million users have downloaded the platform globally. Invstr, according to CEO and founder Kerim Derhalli, is taking a different approach from competitors by offering education and learning tools upfront.
What is Invstr+?
Invstr+ is a one stop shop for all of investor’s money and investing needs. Investr+ allows commission free trading of US stocks, crypto, and fractional shares all from the convenience of one powerful account. Invstr+ also offers a secure savings and checking account.
What is Invstr?
Invstr is an award-winning app helping aspiring investors learn and invest in the stock market through practice, education, and community. Their goal is to democratize access to financial information and empower people to take charge of their financial future by giving them the education, resources, and opportunity to become real investors.
At Invstr, they stand for individual empowerment, diversity and collaboration. Their mission is to empower everyone to learn to invest smarter and build a sustainable future for our children and grandchildren.
What is the objective of the Fantasy Finance game?
Fantasy Finance is a fun and easy way for users to learn to invest. Investors do this by managing a $1M virtual portfolio that mimics the real ups and downs of the stock markets. It’s the best way to sharpen skills and learn from wins (and losses!)–all without risking any real money. As with real life, the objective in Fantasy Finance is to get the greatest returns on investments. The better a portfolio performs, the higher an investor ranks in the Invstr Fantasy League (IFL), a ranking of all competitors from around the globe.
Is Invstr a bank?
Invstr is not a bank. Instead, they have partnered with Vast Bank N.A. a nationally chartered bank which provides the banking products, including deposit and savings accounts and services related to digital asset accounts.
What is the purpose of the Invstr Academy?
Invstr is all about financial education and literacy, which is why they created Invstr Academy. Academy is an interactive 85-lesson course that teaches everything you need to know about investing.
Written by real experts, Academy covers stocks, cryptos, investment strategies, markets, and more. Test your knowledge with lesson quizzes and earn trophies to celebrate your progress. The goal of Academy is to help remove the educational barriers of successful investing and personal finance.
How often can I trade?
There is no limit to the number of stocks you can buy and sell. However, regulations prevent day trading in a cash account which is one round trip: buy, sell then buy; or sell, buy then sell on the same day. In addition, “pattern day” trading is also not allowed.
This means that you cannot buy and sell the same instrument on the same day more than four times in a five business day period.
Invstr FAQs
What bank does Invstr use?
The Invstr VISA® Debit Card is issued by Vast Bank, N.A. pursuant to a license from Visa U.S.A. Inc and may be used everywhere Visa debit cards are accepted.
How old do you have to be to use Invstr?
If you are 13 or older, but under the age of 18, you should review the Invstr Terms with your parent or guardian to make sure that you and your parent or guardian have understood them to your satisfaction.
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