Forbes Is Shutting Down Its Investing App — Consider These 8 Alternatives

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  • Forbes is shutting down Q.ai, its online investment app for simplified trading. 
  • Q.ai users must move assets in their accounts to a different investment platform by December 8, 2023.
  • If you’re looking for automated or AI-powered tools, here are eight alternatives to Forbes’ app worth considering. 

Forbes announced it will be shutting down its investment app Q.ai on December 8, 2023. The AI-powered platform used both active management and automated investing strategies. It offered AI-powered portfolios on a range of investment types, including stocks, ETFs, commodities, and cryptocurrencies.

If you have an existing Q.ai account, you must initiate a withdrawal and transfer your assets to a new account in an external investment app or online brokerage by December 8.

There are plenty of robo-advisors and AI-operated investment platforms to choose from. Depending on what you’re looking for, you can sign up for expert trading with advanced AI features, or a low-cost automated portfolio managed through some of the best robo-advisors.

Robinhood Investing

Icon of check mark inside a promo stamp It indicates a confirmed selection.

Perks

For a limited time: Earn a 1% bonus when you transfer your brokerage account to Robinhood, now through December 8, 2023. No cap on match. Terms apply.


Account Minimum

$0 ($1 for fractional shares; $2,000 for margin trading


Fees

0% ($5/month for Robinhood Gold)

Pros

  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Free stock, option, ETF, and cryptocurrency trades; 1.50% APY on uninvested cash for non-Gold users and 4.90% for Gold members
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. IPO investing available
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Cash management accounts available
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Website is easy to navigate; advanced charts for all users
Cons

  • con icon Two crossed lines that form an ‘X’. Lack of investing research and trading tools; can only take advantage of professional research if you’re a Robinhood Gold member
  • con icon Two crossed lines that form an ‘X’. No joint accounts, education savings accounts, or mutual funds


Product Details

  • App store rating: 4.2 iOS/4.0 Android
  • Consider it if: You want to trade crypto and invest in a wide range of stocks and ETFs.

Here are eight of the best robo-advisors and AI-powered investing apps.

Betterment Investing

Insider’s Rating

A five pointed star

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4.6/5

Icon of check mark inside a promo stamp It indicates a confirmed selection.

Perks

Betterment offers individual or joint accounts, IRAs, trust accounts, and cash reserve or checking accounts.


Account Minimum

$0 to open, $10 to start investing ($100,000 for premium plan)


Fees

0.25%/year for digital plan; 0.40%/ year for premium plan; 1%/year for crypto portfolios

Pros

  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. No minimum for standard investing account
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Goal-based planning, tax-loss harvesting, charitable giving, and socially responsible investing available
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Access to certified financial planners
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Mobile app with external account syncing options
Cons

  • con icon Two crossed lines that form an ‘X’. You’ll have to pay to consult a human advisor, unless you have the premium plan


Product Details

  • Promotion: None at this time.
  • App store rating: 4.7 iOS/4.5 Android
  • Consider it if: You want access to robo-advice with multiple service levels.

Betterment is our pick for the best overall robo-advisor because of its low fees, account flexibility, multiple portfolio options, and various investment options. A premium account with Betterment gets you unlimited access to certified financial planners (CFPs), but you’ll need to meet a $100,000 minimum requirement. (A standard account has no minimum.)

With Betterment, you can invest with stock and bond ETFs and cryptocurrencies. The online brokerage is great for retirement-focused individuals and goal-based investors. 

Betterment review

Tykr

Insider’s Rating

A five pointed star

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4.31/5


Fees

$99 per year (or $29.99 per month)

Pros

  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Financial strength scres on assets
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Geared toward simplifying trading for investors
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Personalized stock recommendations and up-to-date market data
Cons

  • con icon Two crossed lines that form an ‘X’. Doesn’t offer trading
  • con icon Two crossed lines that form an ‘X’. High monthly or annual charge
  • con icon Two crossed lines that form an ‘X’. No human advisor access


Insider’s Take

Tykr is an AI-powered stock screening platform great for all kinds of investors who want to implement active investing strategies. It can be a great addition to an external brokerage account, but you have to be willing to pay the extra cost.

Tykr is an AI-powered stock screening investing platform that assists you in trading assets like stocks, ETFs, and cryptocurrencies through safe, conservative, and passive investing strategies. Tykr’s AI gives stocks and other assets an overall financial strength score from 0 to 100 based on the asset’s return in the market. 

Active investors (including beginners interested in hands-on investing) can benefit from the portfolio tracker, stock watchlist, community features, and trade journal. Tykr’s goal is to help investors trade and make better investment decisions through personalized stock recommendations, expert insight, and up-to-date market data. 

Tykr doesn’t offer CFPs, but it does encourage users to pair its platform with advice from a financial advisor. 

Tykr charges $29.99 monthly, or $99 annually (which comes to about $8.25 per month). It’s currently offering a free 14-day trial.

Streetbeat

Insider’s Rating

A five pointed star

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4.28/5


Fees

$12.50 per month (or $120 annually)

Pros

  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Can connect to Robinhood brokerage accounts
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Investment insights/analysis for single stocks, ETFs, and crypto
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Auto-trading features
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Streetbeat offers a list of stock picks based on investment data it has analyzed
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. App provides access to real-time market prices
Cons

  • con icon Two crossed lines that form an ‘X’. Platform isn’t best suited for investors who prefer web access over mobile app access
  • con icon Two crossed lines that form an ‘X’. Limited account selection


Insider’s Take

Streetbeat is an online AI-powered trading platform suitable for both hands-off and hands-on investors. But beginners may struggle to use the platform.

Streetbeat is an AI-powered automated trading platform that provides users with access to multiple personalized investment portfolios, as well as DIY investing through the app. AI tracks real-time news and market changes for advanced investing strategies. 

You can connect Streetbeat to an existing Robinhood brokerage account, or open a new account on Streetbeat when you create an investment portfolio. Streetbeat doesn’t offer human advisor access.

There are no management fees with Streetbeat, but you will have to pay $12.50 per month (or $120 annually). It’s currently offering a seven-day free trial period. 

Wealthfront Investing

Insider’s Rating

A five pointed star

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4.34/5

Icon of check mark inside a promo stamp It indicates a confirmed selection.

Perks

Fund your first taxable investment account with at least $500 in the first 30 days of account opening and earn a $50 bonus.


Account Minimum

$1 ($500 for automated investing)


Fees

$0 for stock trades. 0.25% for automated investing (0.06% to 0.13% for fund fees)

Pros

  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Low annual fee for investment accounts; crypto trust investments available
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Tax-loss harvesting, portfolio lines of credit, 529 college savings plans available
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Cash account
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Mobile app and investing and retirement tools
Cons

  • con icon Two crossed lines that form an ‘X’. You need at least $100,000 to utilize additional investment strategies
  • con icon Two crossed lines that form an ‘X’. No human advisor access


Product Details

  • Consider it if: You’re balancing several goals and want to streamline your finances.
  • Promotion: Fund your first taxable investment account with at least $500 in the first 30 days of account opening and earn a $50 bonus.

Wealthfront is one of the best robo-advisors for low-cost automated trading and portfolio management. It offers ETFs, index funds, crypto trusts, ESG portfolios, and emerging market stocks. It even has a high-yield bond portfolio.

Hands-off investors and beginners can use Wealthfront’s automated trading tools like auto-rebalancing, smart-beta technology, US direct indexing, and tax-loss harvesting. But there’s no human advisor access.

Wealthfront has a $500 minimum requirement to start investing. 

Wealthfront review

Acorns Invest

Insider’s Rating

A five pointed star

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A five pointed star

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3.97/5

Icon of check mark inside a promo stamp It indicates a confirmed selection.

Perks

Earn a $20 bonus when you open a new account and make your first successful recurring investment (min $5). Receive your bonus within 10 days of following month


Fees

Monthly plans start at $3 for Personal, $5 for Personal Plus, and $9 for Premium

Pros

  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Low fees
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Helpful automatic saving and investing tools
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Portfolio suggestions built to match your risk level
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. “Found money” invests a percentage of your purchases from certain companies
Cons

  • con icon Two crossed lines that form an ‘X’. Flat monthly fee is on the high side, especially for smaller accounts
  • con icon Two crossed lines that form an ‘X’. The option to choose individual investments requires a Premium plan


Insider’s Take

Acorns is one of the best investment apps for beginners and hand-off investors who want to start investing but are overwhelmed by the choices with other investing apps. This simple and easy-to-use platform offers a low investment minimum, portfolio diversification, and beginner-friendly charting tools. Acorns is more expensive than other zero-fee apps out there, but the ease of use may make it worthwhile for certain users.


Acorns
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Product Details

  • Get started in under 5 minutes
  • $5/month gets you a full financial wellness system with connected investment, retirement, and saving accounts.
  • Invest in a diversified, expert-built portfolio
  • No expertise required
  • Invest your spare change with Round-Ups (more than $900M invested in 2021 just from RoundUps!)
  • Set easy, automatic Recurring Investments
  • See your account performance right in the app, and play with our interactive Potential screen
  • All you need to start investing is $5
  • 18M downloads

Acorns is one of the best investment apps for beginners. It’s a robo-advisor providing simplified trading and beginner-friendly charting tools. Acorns mainly invest in ETFs for easy portfolio diversification, but you can pay extra to trade individual stocks or add bitcoin-linked ETFs. 

There’s a $5 minimum to get started and a minimum $3 monthly fee (varies by account type). Acorns is great for mobile users. Plus, it offers additional banking, emergency savings, and retirement savings options all in one location. 

Acorns is great for beginners but it doesn’t offer human advisor access or advanced charting features. 

Acorns Invest review

Trade Ideas

Insider’s Rating

A five pointed star

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4.06/5


Account Minimum

No minimum


Fees

standard account charges $84 per month ($999 annually)

Pros

  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. AI-powered built-in stock and market scanners
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Simulated trading tools
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Educational and instructional library
Cons

  • con icon Two crossed lines that form an ‘X’. No human advisor access
  • con icon Two crossed lines that form an ‘X’. High monthly fee


Insider’s Take

Trade Ideas is AI-powered robo-advisor best used when paired with an external brokerage account. Only advanced and hands-on investors willing to pay the high monthly fee should open an account with Trade Ideas.

Trade Ideas is an AI-powered robo-advisor that uses pre-formulated built-in scanners to analyze potential investing strategies through backtesting. Trade Ideas offers a suite of advanced trading charts and tools designed to be paired with an external brokerage account. 

Experienced investors wanting in-depth analysis, pre-built stock scans, simulated trading strategies, and real-time stock racing can benefit from Trade Ideas. But keep in mind that pricing is on the higher end. A standard account charges you $84 per month (or $999 annually) and Trade Ideas Premium charges $167 per month (or $1,999 annually).

Trade Ideas also has a user chatroom and a vast educational library of instructional and educational videos. But there’s no human advisor access.

M1 Finance

Insider’s Rating

A five pointed star

A five pointed star

A five pointed star

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4.24/5

Icon of check mark inside a promo stamp It indicates a confirmed selection.

Perks

New M1 Finance users who open a brokerage account can earn up to $500 if they invest at least $75 in their account within 14 days of opening (offer ends December 31, 2023)


Account Minimum

$100 ($500 for IRAs)


Fees

0% (cryptocurrencies are commission-free, but Apex Crypto takes 1% fee on transactions); $10/month M1 Plus

Pros

  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Low minimum deposit
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Access to more than 80 professional portfolios
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Fractional shares and individual stock or ETF orders available; cryptocurrency trading
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Automated investing available at no additional fee for standard accounts
Cons

  • con icon Two crossed lines that form an ‘X’. Investment options are limited to stocks, ETFs, and cryptocurrencies; no tax-loss harvesting
  • con icon Two crossed lines that form an ‘X’. Only M1 Plus members can trade crypto 24/7
  • con icon Two crossed lines that form an ‘X’. Trading window limits your control over investment transactions
  • con icon Two crossed lines that form an ‘X’. No human advisor support


Product Details

  • Promotion: New M1 Finance users who open a brokerage account can earn up to $500 if they invest at least $75 in their account within 14 days of opening (offer ends December 31, 2023)

M1 Finance is an online brokerage offering both automated and DIY investing through pie-based models. Passive and active investors can trade stocks, ETFs, fractional shares, and crypto through standard brokerage accounts, retirement accounts, and custodial accounts. 

M1 Finance’s robo-advisor is best for people who already have an M1 Finance bank account, loan, or credit card. But those looking for the convenience of automated trading paired with the flexibility of active investing strategies can also benefit. The brokerage has a $100 minimum requirement. 

However, M1 Finance doesn’t offer human advisor access. 

M1 Finance review

Quantum AI

Insider’s Rating

A five pointed star

A five pointed star

A five pointed star

A five pointed star

A five pointed star

4.25/5

Pros

  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Advanced AI algorithms and analysis to track the crypto market
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Completely free platform
Cons

  • con icon Two crossed lines that form an ‘X’. Only trades and tracks the cryptomarket
  • con icon Two crossed lines that form an ‘X’. No human advisor access


Insider’s Take

Quantum AI is an AI-generated trading platform best for both beginner and experienced cryptocurrency investors. It’s not great for non-crypto focused investors.

Quantum AI is an AI-operated trading platform for crypto. It uses AI algorithms and analysis to track current trends and trades on the crypto market. Both beginners and experienced cryptocurrency investors can benefit from Quantum AI’s easy-to-use platform and automated trading.

It’s a secure platform offering various read-made trading strategies, a free demo mode, and 24/7 support. Quantum AI supports cryptocurrencies like bitcoin, ether, litecoin, and ripple. Moreover, the platform is free with no trading fees. 

If you’re not interested in trading cryptocurrencies, this isn’t the platform for you.  

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