Moneybox

[Bodd]

Moneybox


Hello all

Has anyone used this app on their phone for investing on the stock market?

https://www.moneyboxapp.com/

Bod

 

[noseall]

There is simply no end to the ways in which to gamble away your hard earned cash, from the comfort of your armchair.

 

[Bodd]

There is simply no end to the ways in which to gamble away your hard earned cash, from the comfort of your armchair.

I know its a gamble. Investing is.

Would you know if it's a good or a bad way to invest?

 

[noseall]

Would you know if it's a good or a bad way to invest?

Not a clue. JohnD however, is a financial wizzkid.

I'm rubbish at investing.

 

[EddieM]

I know its a gamble. Investing is.

Would you know if it's a good or a bad way to invest?

If it were that simple we'd all be rich, as for what you intend to invest in, who knows? As for whether that site is a sound company I don't know, here's a gamble for you though, bet against the euro and dollar in say mid to late April, (no guarantees mind!)

 

[Bodd]

Not a clue. JohnD however, is a financial wizzkid.

I'm rubbish at investing.

Me too

 

[Bodd]

If it were that simple we'd all be rich, as for what you intend to invest in, who knows? As for whether that site is a sound company I don't know, here's a gamble for you though, bet against the euro and dollar in say mid to late April, (no guarantees mind!)

I'll go for that.. How do I do it

 

[EddieM]

You need to take out options on Sterling, but you must get professional advice as done wrong your losses can be unlimited.

 

[EFLImpudence]

If it were that simple we'd all be rich,

And so would the people selling the app. - just like all financial advisors.

 

[EddieM]

some background reading:-

https://en.m.wikipedia.org/wiki/Option_(finance)

 

[Bodd]

And so would the people selling the app. - just like all financial advisors.

They all want their bit. Suppose we all need to earn a wage

 

[^woody^]

It seems a plausible idea. But my initial thoughts are that the site layout is not simple and information is not very easy to find - which does not tally with the premise of easy investing.

Using pennies to invest, and over the long periods mentioned would seem to mean that returns are minor and the management fees will eat into any gains.

Are there any scenarios on that site to show that if someone invests the average £8 or so per week, what the returns will be after 1, 3, 5, 10 years minus fees, and comparisons to other investment methods for that amount? I can't find any.

 

[^woody^]

JohnD however, is a financial wizzkid.

Yeah, honours first class from the Dianne Abbott school of Mathematics.

 

[noseall]

Yeah, honours first class from the Dianne Abbott school of Mathematics.

JD actually knows his stuff. Unlike DA.

 

[Bodd]

JD actually knows his stuff. Unlike DA.

Let's have it Johnny boy

Godd ,? Or bad,?