Investing in AI is a common practice, but have you considered investing using AI technology? BW reviewed four brokers that are developing features to allow you to place trades with just a prompt. Here’s what you need to know about them:
Brokers with AI trading assistants:
1. Cash App:
– AI features: Cash App’s “Moneybot” assistant (currently in beta) can assist you in placing stock or crypto trades through a text prompt. It can also provide insights into your investment performance and spending habits.
– Other details: Cash App’s brokerage service, though well-designed, has limited investment choices and customer service options. Read our full Cash App review for more information.
2. Interactive Brokers:
– AI features: Interactive Brokers’ “IBot” assistant can help you with trades and deliver tailor-made investment research based on a text prompt. The platform also offers AI-powered stock screeners and news summaries.
– Other details: Interactive Brokers is known for its wide range of investment options and strong customer service, making it suitable for advanced traders. Check out our full Interactive Brokers review for more details.
3. Public:
– AI features: Public recently introduced “generated assets,” allowing users to input an investment theme and receive a custom-generated basket of stocks. They also announced an upcoming “agentic brokerage” assistant for trade placement.
– Other details: Public offers rebates for trading options and competitive interest rates on uninvested cash. However, it lacks mutual funds and customizable research tools. Read our full Public review for a comprehensive analysis.
4. Robinhood:
– AI features: Robinhood’s “Cortex” assistant (available to Robinhood Gold subscribers) can place trades based on a text prompt and provide personalized investment research and portfolio insights.
– Other details: Robinhood is known for its user-friendly app, free options trades, and extensive crypto selection. However, it lacks mutual funds and third-party research. Learn more in our full Robinhood review.
These brokers are leading the way in AI-powered trading assistants, but they’re not the only ones offering such features. Other brokers like Firstrade, M1 Finance, Moomoo, and Webull also provide AI tools for investment research and portfolio analysis.
While AI technology has advanced significantly, there are still limitations to its accuracy, as demonstrated by some AI investing tools. For more reliable assistance, consider consulting a financial advisor who can offer personalized guidance and support in your investment decisions.