Budgeting app Emma launches commission-free stock trading
Emma users in the UK can now invest in US shares commission free.
Budgeting app Emma has added share dealing to its product offering, allowing users to invest their savings into the stock market.
Emma allows users to connect their bank account to to its app, to help them keep on top of their spending, reduce subscription services and set savings goals.
Savers can now attempt to beat the ever rising rate of inflation by creating a portfolio with individual US stocks and investing their savings into it.
The Emma share trading service is relatively small compared with its competitors, offering just 2,000 stocks listed in the US. Users are able to invest in fractional shares, which are small parts of shares.
The app also lets you view and create watchlists and find stocks based on specific qualities, such as “female CEOs” or “biggest daily movers”.
Emma joins rival app Plum, which has had ready-made portfolios for some time, but added US stock trading earlier this year.
Down the line, Emma plans to add social trading features, similar to the offerings of Trading 212 and eToro. This would allow users to share their portfolios. It’s also considering adding cryptocurrencies.
Emma says it has more than 1 million customers in the UK, and that it launched its commission-free stock trading feature after successfully testing it with 30,000 users who registered on the waiting list.
All investing should be regarded as longer term. The value of your investments can go up and down, and you may get back less than you invest. Past performance is no guarantee of future results. If you’re not sure which investments are right for you, please seek out a financial adviser. Capital at risk.