Portfolio Diversification | Image Courtesy: appreciatewealth.com
If you are looking for a solution to keep track of all your investments then you can use a portfolio tracker. To find the right all-in-one portfolio tracker you will have to answer a few questions. You should select the right portfolio tracker depending on your needs and preferences.
What are the investment types in your portfolio? Which portfolio tracker can track all of your investments? Do you need an all-in-one portfolio tracker application? What is your preferred device type? Does the portfolio tracker have the features you need?
Appreciate offers a stock investing app with an intuitive interface. It offers AI-based recommendations on investments best suited for your portfolio.
Portfolio tracker
If you invest in mutual funds then you have to approach a broker to buy them. To know the status of your investments you have to log into the broker-specific application each time. With an all-in-one portfolio tracker, you can track all your mutual fund investments and you need not check every valuation update. You can also get additional features that the broker’s app may not offer.
The tracker you choose should support all your stock investments. The tracker will provide pricing updates on stocks. You should find out which stock exchange the tracker gets its data from. It may provide the quotes of the companies listed on the major stock exchanges but may miss out on the stocks from lesser-known exchanges.
ETFs are similar to stocks and are issued by managing companies. They can directly follow the prices of the backing assets. The value of ETFs can be updated throughout the day like stocks. ETFs can be traded on the stock exchange by the brokers. The tracker views ETFs just like stocks.
The tracker sees cryptocurrencies as traditional currency. In a cryptocurrency exchange, the digital-digital and digital-fiat currency pairs are updated continuously. As traditional currency is stored in a bank account cryptocurrencies are stored in crypto wallets. When you buy cryptocurrencies you will have to log into your crypto wallet to check the latest exchange rates. With a portfolio tracker, you need not log in to your crypto wallet every time. You can also get a summary in one place.
You will find a few Windows/Mac portfolio tracker applications as the majority of them are available on the online web or as mobile apps. If you want to use a mobile app with offline access convenience then you can opt for iPhone or Android app.