Revolut Rated the Uk’s Best Investment App
Contemporary apps triumph over established names like HSBC and Barclays, with Revolut topping the ranks of the best investment apps.
Crypto is here to stay: investment apps like Crypto.com and Coinbase are among the five most downloaded, and Binance made the top ten best-rated apps. Users ranked HSBC among the worst (48 out of 50).
Despite being downloaded frequently, Google Pay and Cash App have low ratings. The opposite is true for Chase UK.
Ranking the best investment apps
Invezz.com reviewed this list of investment apps and performed an in-depth study to help rank their popularity. According to the data, rankings took into account the number of reviews, the average rating in Android and Apple stores, and the number of downloads. Based on that, with Revolut coming out on top as the best investment app in the UK.
The total number of reviews and the number of downloads show a high correlation. Therefore, the study placed a 25% weight on the reviews and the downloads and 50% on the rating.
The apps reviewed cover general investments, cryptocurrencies, stand-alone banking, and stocks.
Why is Revolut at the top?
This app’s most popular feature is instant transfers – as long as the recipient also has it. Low fees on currency exchange are another advantage. Revolut also offers analytics, budgeting, lending, subaccounts, and other innovative features.
It gives access to commodities, stocks, and crypto, as well as a vast selection of currencies. This ranks Revolut among not only the best forex tools but also the best investment app in general.
In 2021, Revolut became the highest-valued private UK company, reflected in the number of downloads and ratings.
Most importantly, Revolut’s top position shows a new age of banking is here. Novel apps are giving more established names such as Barclays and Lloyds a run for their money. While those two still rank in the top 10, they would have dominated the ranking several years ago.
The emergence of the Robinhood trader
We couldn’t argue how transformative the pandemic has been to the financial industry. This era is known for the emergence of the Robinhood trader, a new kind of investor. Financial markets became widely accessible during COVID. Millions of people stuck at home during lockdowns tried their hands at trading. Payment and banking apps have become essential after an extended period in which it was almost impossible to go to the bank in person.
Finally, many vendors stopped accepting cash as the global market’s embrace of tech became a fact of life.