Shares App review. Get a free share worth £20
This month I have discovered another great money sign up offer. Which is another great way to invest on your mobile phone. In this Shares App review, we will look at the app, how easy it is to use, the sign up process and the excellent free offer at the moment.
What is Shares app?
Shares app is another app in which you can download and buy fractional shares on your mobile. Again making investing really easy and simple to do. In the same vain of Free trade, trading 212 and orca. All of which have similar methods as the Shares App.
The difference with the Shares App is the social aspect. The idea with the Shares App is that you can see what your friends are investing in, as well as chatting to them through the app as well. Which is pretty cool, definitely unique. Not that I have that many friends that like talking about their investments or that even invest. But is certainly taking a new spin on the investment app.
I have to say I like the idea, I wish investing was something I got into years ago. It does still have that boring image to most people. In reality however it is a necesseity to defy inflation. Grow your money instead of allowing it to sit in an account.
The Introductory Shares App offer?
The introductory offer is brilliant and where other apps give you a chance of a higher share value but in reality the vast majority are on much the lower end. Shares is offering you a guaranteed sum of £20 and in one of the biggest stock market companies.
The process is really simple, just sign up with an invite link from a friend …. Here is mine if want to be my friend!
Then follow the verification process. By submitting your details and taking picture of driving licensce or passport.
Once verified deposit money into your account (can be as little as £1)
This can all be done with open banking. So can all be done really quickly and fast, takes just a few minutes.
How long does verification take?
Now well this is the bit that didn’t go as planned. They say in their app that it should take normally 5 minutes. Mine took just under a week. The support however was really helpful and reassuring. But to be honest I think this was because their customers have spiked and they struggled to keep up with the demand to be honest. But still worth it.
Can you sell the free share?
You can but you need to keep it now for 30 days in account. For me I am going to keep and slowly add small bits to my investments over time!
Which shares can you get?
As mentioned the £20 free shares are all fractional but that is because they are in one of the biggest stock market companies, and what is even better is you get to choose so you can choose exactly what you want as opposed to excitement and gamble of a mystery share.
Is Shares App available only in the UK?
At the moment the Shares app is only available in the uk but on their website you can join the EU waitlist to get early access when they spread their wings.
Can you buy shares and what type?
Now I expect your thinking that is a stupid question. Ofcourse you can buy shares it is called blooming shares. You are right you can buy shares. But maybe only because I am very dense it was not easy to find.
But if your on the main home page click the little search icon to take you to where you can buy some other shares.
The shares that you can currently buy are US shares. It has to be said there are a lot of different options.
What are the fees for shares app?
There are some fees to the Shares App. The fee is for the conversion to USD and is at 0.4%. So rather minimal still. But perhaps not as good as other share providers. But these are US shares.
Overall review for Shares App
Overall I like the App. It is easy to use, quick and fast (apart from the verification) which I think is a small blip for them. Gives you easy access to lots of other share providers.
Were it not for the introductory referral offer I probably wouldn’t have gone for it. But having signed up and got my £20 free I think I shall keep it in there. I have also already topped up another small amount in there as well.
Think if investing lots there are better options out there. But for buying individual shares, it is exactly what you need. My little plan is at times when I am thinking of buying a choccie bar or a coffee. Stick that money into shares app or free trade and let it grow in there instead. Ideal for first time investors, with investing as little as £1. Sign up here
Check out the other shares sign up offers you can make a great start to your investments with these free introductory offers. All the sign up offers