A recent study has identified Empower as the least reliable investment app, with users expressing frustration over slow performance and technical glitches. The findings come from a report by online trading platform Investingoal.com, which analysed data from the Apple App Store for 30 popular investment apps. The study aimed to determine which platforms deliver the most seamless user experiences and which fall short of expectations.
The researchers measured the proportion of reviews containing complaints about the app being “slow,” “glitchy,” or “not working.” Empower emerged as the least reliable, with a rate of 14.40 negative keyword matches per 100 reviews. From a sample of 500 reviews, 72 users criticised Empower for issues such as being “glitchy,” “buggy,” and “painfully slow,” with many stating that it performed poorly on iOS devices.
Ally Invest followed closely in second place, with 8.80 keyword matches per 100 reviews. Of 500 reviews, 44 contained negative feedback, describing the app as “terrible,” “glitchy,” and prone to issues like bugs with touch-ID functionality. Users complained of slow performance and a frustrating user experience.
Interactive Brokers took third place, recording 8.76 keyword matches per 100 reviews. The app received 56 negative reviews from 639 users, with comments focusing on poor functionality, glitches, crashes, and a difficult-to-use interface. Complaints about a “clunky” design and regular crashes were also common among users.
Merrill Edge ranked fourth, with 7.00 keyword matches per 100 reviews. Out of 500 reviews, 35 users raised concerns about slow speeds and glitches, frequently describing the app as “not user-friendly” and frustrating to navigate.
Fifth place saw a tie between Ellevest and Charles Schwab, both receiving 5.85 keyword matches per 100 reviews. Ellevest, with 205 reviews, saw 12 complaints ranging from glitchy performance to accusations of being unreliable. Charles Schwab’s platform, meanwhile, had 32 negative reviews out of 547, with users complaining of slow loading times and an unresponsive interface.
In sixth place was Tastyworks, which recorded 5.31 keyword matches per 100 reviews from a sample of 527. Negative feedback included mentions of glitches, bugs, and repeated crashes, leading to a poor overall user experience.
E*TRADE followed in seventh, with 4.91 keyword matches per 100 reviews, while TD Ameritrade ranked eighth with 4.84. Fidelity was ninth with 4.60, and Webull rounded off the top 10 with 3.60 negative matches per 100 reviews.
Negative keyword matches per 100 reviews – Top 10 investment app ranking
| Rank | Investment app | Total number of reviews | Reviews with negative keyword matches | Negative keyword matches per 100 reviews |
| 1. | Empower | 500 | 72 | 14.40 |
| 2. | Ally Invest | 500 | 44 | 8.80 |
| 3. | Interactive Brokers | 639 | 56 | 8.76 |
| 4. | Merrill Edge | 500 | 35 | 7.00 |
| 5. (=) | Ellevest | 205 | 12 | 5.85 |
| 5. (=) | Charles Schwab | 547 | 32 | 5.85 |
| 6. | Tastyworks | 527 | 28 | 5.31 |
| 7. | E*TRADE | 550 | 27 | 4.91 |
| 8. | TD Ameritrade | 517 | 25 | 4.84 |
| 9. | Fidelity | 500 | 23 | 4.60 |
| 10. | Webull | 500 | 18 | 3.60 |
At the opposite end of the spectrum, Wealthfront and Stash were named the most reliable apps, with only 0.60 negative keyword matches per 100 reviews. Both apps received just three complaints from a sample of 500 reviews, with many users praising their reliability and ease of use.
A spokesperson from Investingoal.com commented: “It can be frustrating when any app doesn’t work as expected, and financial platforms are certainly no exception. In an environment where trust and seamless access to financial markets are critical, these recurring issues can significantly hinder user experience and confidence.”
As the report highlights, investment apps play a crucial role in today’s financial markets, and their reliability is essential for both seasoned investors and beginners looking to make informed financial decisions.