Facebook-style finance app invstr taps into wisdom of the crowds

This new iOS and Android app update will include a new ‘future’ chart allowing traders to compare their predictions with other players and also to share predictions and activity on other social sites such as Facebook and Twitter. The aim is to allow people to tap into “the wisdom of the crowds”.

invstr features a unique crowdsourced game that predicts the prices of individual stocks, bonds, currencies, and commodities, enabling investors to weigh the strength of market convictions immediately when making real-world investment decisions. The app has also been praised for providing aspiring investors and professional financiers on-demand access to financial data, such as in-depth financial news, live market data and professional research previously requiring an expensive subscription terminal.

With the widespread Bloomberg terminal outage in April, financial professionals around the world were left without access to the real-time market data and news they rely on to make investment decisions. The invstr app offers a favourable mobile alternative to Bloomberg and other expensive subscription terminals by providing sophisticated, on-demand financial information directly to mobile devices for a fraction of the price.

The new invstr features released today include elements like a single tap to predict the prices on individual stocks, bonds, currencies and commodities, and the ability to like, comment on and share your contacts’ price predictions.

There is also a new “challenge” feature that lets users compete against their contacts’ predictions and a new “analyse” feature to access detailed charts, news, calendar information and topic discussions for any financial instrument.

The app also provides immediate access to status updates, comments or news articles shared by your contacts in the invstr Feed as well as the ability to create personal watchlists and customise the display order of the stocks, bonds, currencies and commodities you care about.

“We created invstr to give even the most casual investors fast, mobile access to in-depth market data, news and analysis,” said invstr CEO Kerim Derhalli, adding, “now we’re expanding invstr into a true financial social network by streamlining the app, making it simple to take part in financial conversations.”

Because of invstr’s unique combination of technology, news, and financial information, Derhalli is a 2015 finalist for the Talent Unleashed Awards, one of the judges being Sir Richard Branson.

Before founding invstr, Derhalli built an impressive 30-year track record of building, growing and managing multi-billion dollar businesses, and has served as Global Head of Equity Trading, Head of European Equities, Global Head of Commodities, and Global Head of Emerging Market Equities at Deutsche Bank.

Invstr is now available on the iTunes App Store and on Google Play