With the rise of artificial intelligence (AI) and machine learning in finance, there has been an explosion of free AI investing apps available to retail investors. These apps leverage cutting-edge technology to analyze market data, identify investment opportunities, and even automate trading. In this article, we will explore the top 5 free AI investing apps that beginners can use to enhance their investing journey.
Stockropy – AI-powered stock analysis and portfolio builder
Stockropy is one of the most popular free AI investing apps. It uses natural language processing and machine learning algorithms to analyze financial statements and generate stock investment ideas tailored to your personal criteria. Key features include: 1) Quantamental analysis combining quantitative factors like financial ratios with qualitative data from earnings calls and news. 2) Customizable stock screeners and prebuilt templates for growth, value etc. 3) Portfolio optimizer and builder with automatic rebalancing. 4) Paper trading to test strategies. 5) Clean user interface and explanations for analysis.
SigOpt – Optimization platform for algorithmic trading strategies
SigOpt is an AI platform optimized for building and improving quantitative/algorithmic trading strategies. It supports a wide range of asset classes and data sources. Key features include: 1) Infrastructure to quickly build, test and iterate on trading strategies. 2) Advanced simulation and backtesting tools with performance analytics dashboards. 3) Automated hyperparameter tuning using cutting-edge Bayesian optimization to maximize returns. 4) Seamless integration with Python for quants and data scientists. 5) Free developer tier to get started.
FutureAdvisor – Free Robo-advisor by BlackRock
FutureAdvisor is a free Robo-advisor offered by BlackRock, one of the world’s largest investment managers. It provides automated investment management services leveraging AI and machine learning. Key features include: 1) Free personalized investment plans and asset allocation strategies customized to your risk tolerance and goals. 2) Tax-loss harvesting and automatic rebalancing to optimize returns. 3) Low account minimum of $10,000. 4) Access to BlackRock’s ETF portfolio recommendations and decades of investing expertise. 5) Secure syncing with external investment accounts for holistic monitoring and alerts.
QuantConnect – Cloud-based algorithmic trading platform
QuantConnect offers a cloud-based AI and algorithmic trading platform for quants and developers. Key features include: 1) Python/C# API to code, build, backtest trading strategies using historical or live market data across various asset classes. 2) Community of 100k+ quants sharing scripts and best practices. 3) Paper trading and live trading integration with interactive brokers. 4) Data library with over 50+ data sources from crypto to forex to options. 5) Fully managed cloud infrastructure autoscales compute for your needs.
Alpaca – Commission-free API first stock trading app
Alpaca provides a modern API-first investing platform for retail traders. Key features include: 1) Commission-free stock and crypto trading using REST APIs. 2) Paper trading account to test strategies with real-time market data. 3) Connectivity to 1000+ data sources from alternative datasets to fundamental data. 4) Backtesting on historical market data out of box. 5) Seamless integration for developers to build custom trading interfaces and apps quickly. Alpaca’s infrastructure handles accounting, compliance and operations so you can focus purely on investments.
In summary, Stockropy, SigOpt, FutureAdvisor, QuantConnect and Alpaca are five of the best free AI investing apps available today to help beginners enhance their investing journey leveraging the power of artificial intelligence and machine learning.