Tornado is one of many investment newcomers that seeks to shake up traditional investment practices.
But is a Tornado account actually worth the cost?
And how does Tornado compare to other investing apps like Robinhood, Webull, M1 Finance and Public?
Probably not as good as youd like.
It always seems like an uphill battle to build (and keep) a decent amount in savings.
But what if your car breaks down, or you have a sudden medical bill?
If you reach these 50trades, youll pay $4.50 per additional trade until the next month.
you could also add a particular stock to your watchlist to get news updates about investments you are considering.
To take advantage of the robo-advisor you oughta maintain a $5 brokerage account balance.
Over time, Tornados portfolio optimizer will automatically rebalance your portfolio, though you must physically authorize all sales.
Many users like Tornados mix of hands-on investing and the automated portfolio optimization tool.
This is a free tool.
Tornado is considering future non-monetary rewards.
All data is stored with 256-bit AES encryption.
The app is easy to use and very intuitive for digital natives.
Customer Service
This is an area where Tornado is currently lacking.
As an app-based company, there are no physical locations to go to for help.
There is also no phone number to call.
Customer service support is limited to email:[email protected].
Thewebsitehas an extensive FAQ section, but we could not find an online chat option.
Tornado does not allow short selling for stocks and ETFs.
The $1,000 reward is rare, of course; only 0.02% of new users win it.
Tornado Review: Pros and Cons
So does an account with Tornado make sense for you?
Lets weigh out the pros and cons.
Frequently Asked Questions (FAQs) About Tornado
Still have questions about Tornado?
We compiled some of our readers most commonly asked questions and found the answers.
Nvstr officially rebranded as Tornado in July 2021.
Some investment apps offer free stocks as a perk of signing on.
Instead, Tornado offers a cash bonus for the account, ranging from $5 to $1,000.
Tornado users can only open one account at this time.
There is no account minimum for investing with Tornado.
And just a minimum $5 in the brokerage account will let you utilize the one-click portfolio optimization tool.
Is Tornado Right for You?
Having access to real-life investing pros like Warren Buffett is also a strong appeal.
Timothy Moore covers bank and investment accounts for The Penny Hoarder from his home base in Cincinnati.
Contributor Sean Cudahy contributed to this post.
When you log into your bank account, how do your savings look?
Probably not as good as youd like.
It always seems like an uphill battle to build (and keep) a decent amount in savings.
But what if your car breaks down, or you have a sudden medical bill?
