It is a new investment app that serves a very different purpose than the other investment apps on our radar. Rather than offering brokerage services, a robo-advisor platform, or stock picking, Prosperi Academy’s focus is investor education. If you want to explore (or learn more about) the world of investing, it may be a good choice for you.
Prosperi Academy’s investment learning course allows users to learn more about investing in stocks and cryptocurrencies. In addition to educational content, Prosperi Academy also features a real-world trading simulator where new investors can risk their real money using the strategies they’ve learned without having to invest. Members are also assigned a mentor who can give them advice and support and answer questions.
Overview
This is an investment app, not a brokerage or robo-advisor. Instead, Prospery Academy is a learning platform designed to help people learn how to invest their money wisely. The app offers courses that teach complex investment concepts in an easily accessible way that users can progress at their own pace. In total, Prospery Academy offers over 20 hours of learning content on a variety of investment topics.
What Prospery Academy does not do is also worth mentioning. Prospery Academy does not provide any brokerage services – it is simply a play money trading platform. So, to invest money, you need to open a broker account somewhere else. And neither is investment advice. If you’re looking for stock picks or personalized portfolio suggestions, you’ll have to look elsewhere.
Key Benefits
An independent investor education platform
As app-based trading platforms become more and more popular, in many cases investor education is not prioritized. it provides an investor education platform focused solely on making investors better.
It can teach you skills like generating passive income streams through investing and building a diversified portfolio that suits your age and risk tolerance.
Top rated apps
Prosperi Academy is available as an app only through the App Store, with an Android version in late 2024. But the iOS version has an excellent rating of 4.7 out of 5 stars based on over 8,300 reviews in the App Store.
Additionally, Prospery Academy has an average rating of 4.4 out of 5 stars based on over 10,000 TrustPilot reviews. Many reviews emphasize how easy Prospery Academy makes complex investing concepts and how effective the teaching methods (eg quizzes to assess your progress) are.
Reasonable expenses
Of course, Prospery Academy is not free. Because it does not offer brokerage services, paid financial advice, or anything else, it has to charge a fee for its educational content. However, paying $10 to $40 to access and use the platform can be a long-term bargain if it allows you to avoid costly investment mistakes in the future.
Of course, many brokers have their library of educational resources that can help you learn investment concepts like options trading, etc. However, these are usually articles rather than fully functional and interactive courses.
What can be improved?
No brokerage activity
The biggest drawback for some people is that Prosperi Academy is just an educational platform. It is not a broker or a robo-advisor. So when it comes time to invest the money, you’ll have to open an account somewhere else.
No Android app
It has an iOS app for its platform but doesn’t have an Android version (yet). It hopes to launch an Android app in the first half of 2024, but now also has a web-based platform that doesn’t require an Apple device to use.
Subscriptions renew automatically
An important point is that Prospery Academy subscriptions automatically renew unless you choose to cancel. To be fair, canceling a subscription is a simple process that can be done through an app or website, but it’s easy to forget.
FAQs
Q: Is there a free version of Prosperi Academy?
The Prosperi Academy App itself is free. However, to access any investment training courses, you must purchase a subscription. There is an option for a low-cost trial subscription, but there is no free trial.
Q: Is it better than my broker’s educational resources?
Many brokerage firms have their collection of educational resources, and to be fair, some of them are quite extensive. However brokers don’t typically offer interactive courses like Prospery Academy, and many reviews suggest that Prospery Academy’s style of courses makes learning complex investment topics easy.
Q: Is Prosperi Academy suitable for long-term investors or traders?
The short answer is both. it offers some great courses for long-term investors on portfolio management and different types of investments, but also courses on topics like cryptocurrency trading.
Conclusion
Prosperi Academy provides a good starting point for those interested in financial trading. The structured approach and use of demo trading accounts provide a safe environment for beginners to practice without financial risk. However, users should be aware of the marketing tactics used, such as mostly selective questionnaires, and make sure they understand the nature of demo accounts.
