If you are looking for investment apps that do not require a social security number, this article will provide you with some excellent options. If you are not a citizen of the US, you will need to have an ITIN (Individual Taxpayer Identification Number). Essentially, an ITIN is a substitute for a social security number and is used to report gains, losses, and dividends to the IRS. However, if you are a foreign investor, you will need to consult an accountant to make sure you are reporting all the income taxes that you owe.
Most investment apps require you to create an account and enter some basic personal information. This can include your social security number, address, employment information, and even your financial details. Once you’ve completed your profile, you can select different accounts, such as IRAs and 529 college savings accounts. Some also let you link your bank account and transfer funds. However, these apps can be a bit tricky to use if you’re a first-time investor.
For beginners, a robo-advisor may be the best choice. These apps offer automated investing and portfolio management and are great for beginners. If you want more control over your investments, however, look for investing apps that offer educational tools. Some even offer simulated trades for beginners so that they can learn about the market before making their first trade. Active traders might want an app with more advanced trading tools and a larger selection of financial products.