Thursday, February 23, 2012

Amazon Appstore's Free App of the Day, 02/23/2012: Wikinvest Ad-Free

Amazon.com has promised to make a paid app free every day in the Amazon Appstore, and today's app is Wikinvest Ad-Free.

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Wikinvest Ad-Free is launching exclusively on the Amazon Appstore, and is normally priced at $1.99 in the Amazon Appstore.







Wikinvest Ad-Free is described as follows:
Investment Insight and Understanding

Wikinvest Portfolio for Android tracks all of your investment accounts, all in one place. Set up your investment and finance accounts on Wikinvest.com, or add them directly from the application so you can follow all of your investments wherever you go. Wikinvest's secure connection automatically imports your stock, ETF, and mutual fund holdings into one view and updates nightly so you never have to enter your trades or holdings into a portfolio management tool again.

Every Time, It's Personal

Import holdings from more than 60 brokerages, including Ameriprise Financial, Edward Jones, Etrade, Fidelity, Franklin Templeton, Hewitt, Janus, Merrill Lynch, Morgan Stanley Smith Barney, OptionsXpress, Prudential, Salomon Smith Barney, Scottrade, Sharebuilder, Schwab, TD Ameritrade, Thinkorswim, T. Rowe Price, UBS, USAA, Vanguard, Wachovia, Zecco, and many more.

Don't see your brokerage in the list? Let the developer know. You can still use the Wikinvest Portfolio even if your brokerages aren't supported by setting up your portfolios and watchlists manually on Wikinvest.com or in the app.

Rotate to compare your performance to major indices with performance and account value charts. Stay up-to-date with the markets each day with real-time quotes and news for your entire portfolio along with top news and quotes from the general markets. Then, research your next investment with company charts, news, community analysis, and fundamentals data.

Safety and Security First, Always

The app's servers are protected by 24/7 on-site security and use 256-bit SSL encryption for all of the data. None of your data is personally identifiable. This portfolio tracker is read-only; you cannot make trades from this platform. Wikinvest has been reviewed by Verisign, McAfee, TRUSTe, as well as security experts from Amazon.com.

Brokerage import is limited to U.S. brokerages that support OFX at this time. More brokerages will be added in the coming months. Options and fixed income products can be imported, but historical prices are not supported at this time.

Reviews

"The new portfolio-management tool from Wikinvest.com is already the most advanced of its kind." - Barron's

"It's the moment all you finance and stock market junkies have all been waiting for: real-time, streaming, all-inclusive tracking of your portfolio drawn from whichever combination of popular brokerages you use." - Wire
Wikinvest Ad-Free has a rating of 3.2 stars in the Amazon Appstore.

As a comparison, there are free Wikinvest versions, ad-supported though, in the Android Market with the regular version rating 3.8 stars and the HD version rating 3.6 stars.

The major objections to the app are that it asks for your login information for your investment bank. Naturally, if it's going to access those accounts, it will do so. If you are using the app to access your financial accounts, there's no way around that. The question is if you will trust a relatively new company with your info.

If you're concerned about that, but want to aggregate all your financial information in one place, you could opt for the free Mint.com app. Most of heard of Mint.com vs. Wikinvest, and Intuit acquired the company, in 2009 as well.

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Those who are considering "buying" a Free Amazon Appstore app might want to consider what it means to developers.

Amazon.com opened up the Appstore despite a lawsuit by Apple, which has previously trademarked the term "App Store." Microsoft has filed an appeal against that trademark, saying the term is too generic. Amazon.com has responded to the lawsuit in the same manner.



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