Blossom Social Review: Social Investing App

How does Blossom Social work?Blossom Social is a social media app that is specifically built for sharing investment ideas and strategies.Once you create an account, you can see what other people on the platform are investing in. You can check out the stock portfolios and trades of your friends and popular finance content creators on Blossom Social, and get notified when someone you follow makes a trade.You can also link your own brokerage account to the platform to access portfolio management tools and keep track of your dividends.How much does Blossom Social cost?The Blossom Social app is free. You can connect your brokerage account, follow other investors and get trading ideas without paying anything.But Blossom Social also offers the Blossom Pro paid membership. This provides access to advanced portfolio management tools and analytics for $59.99 a year, or $8.99 a month if you’d prefer to sign up for a monthly plan.How to use the Blossom Social appYou can download the Blossom Social app from Apple’s App Store and Google Play. Once it’s installed, you can sign up for an account by providing your personal information and linking your brokerage account.You’ll then be able to read and join in discussions about stocks and ETFs, investment strategies, market developments, taxes and managing your personal finances. Your social feed is tailored to suit your interests, while all the other info you need (such as portfolio tracking and access to simple educational courses) is easy to find.Why should I invest with Blossom Social?Technically, it’s not possible to invest through the Blossom Social app. As it stands, Blossom Social is not a brokerage platform, so it doesn’t offer the ability to trade stocks and ETFs.What it does offer is plenty of useful tools for new investors. Its biggest selling point is that you can access investment tips from real people rather than anonymous users, and you can check whether they really stand behind their tips by viewing their trades and portfolio.So Blossom Social is a handy app if you’re looking for investment ideas or want to check out the latest trends — with the obvious caveat that you should always thoroughly research any stock or ETF before deciding if it’s right for you.Blossom is also a useful resource if you want to learn more about stock markets and trading. The app provides easy access to what Blossom Social calls “Duolingo-style” courses from investing content creators, offering a convenient way to learn more about the basics of investing.What are the benefits of Blossom Social?No fee. It’s free to create a Blossom Social account and access investing tips and strategies.Quick and easy signup. Signing up to Blossom Social and linking your brokerage account is a quick and stress-free process.Large community. While it’s only a fairly new app, Blossom Social provides access to a network of over 90,000 investors.Portfolio management tools. The app provides access to tools you can use to monitor your portfolio, such as performance statistics and your portfolio mix.Blossom Pro analytics. A Blossom Pro subscription lets you access more in-depth portfolio analysis tools, including sector breakdowns, asset allocations and dividend tracking.Earn money. You can also earn money for completing short, interactive stock and ETF lessons through the Blossom Social app.What to watch out forNot a trading platform. You can’t trade stocks through the Blossom Social app, so you will need to create an account with an online brokerage to start investing. However, according to its roadmap, Blossom Social plans to add the ability to buy and sell stocks in the future.You need to do your own research. Just because someone on Blossom Social has bought a particular stock, that doesn’t mean it’s the right investment for you. It’s important to research any stock or ETF before deciding if it suits your investment goals.New provider. Blossom Social was founded in 2021, so it’s only a relatively new player in the Canadian investing scene.App only. There’s no online or desktop platform, so you’ll need to access Blossom Social through the mobile app.Linking your account. If you choose to link your brokerage account to your Blossom Social account, details of your investments will be made publicly available. Make sure you’re comfortable with that before proceeding.Blossom Pro fee. If you decide to sign up for Blossom Pro, you’ll need to pay a monthly or annual subscription fee.How to get started with the Blossom Social appBlossom Social is available to residents of Canada and the USA, and you must be over 18 years of age to use the app.To get started, download the app from Google Play or the Apple App Store. Create an account by entering your personal and contact information, then link your brokerage account if you wish.I’ve signed up for the Blossom Social app, now what?Once you’ve signed up and linked your brokerage account, you can find other users and investing content creators to follow. Check your Blossom Social feed for the latest updates and news, and join discussions around investing topics that interest you. You’ll also get notifications when someone you follow makes a trade.If you’ve connected your brokerage account, take advantage of Blossom’s portfolio management tools to keep track of your holdings and assess the performance of your portfolio. And if you want to learn more about trading, check out some of the educational courses available through the app.Bottom lineBlossom Social offers something a little different for Canadian investors. The app is easy and free to use, can help novices learn the ins and outs of investing, and provides access to plenty of interesting insights and ideas. But what you do with those ideas is entirely up to you, so research any potential investment carefully to make sure it aligns with your financial goals.This information should not be interpreted as an endorsement of futures, stocks, ETFs, CFDs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involves substantial risk of loss and therefore are not appropriate for all investors. Trading CFDs and forex on leverage comes with a higher risk of losing money rapidly. Past performance is not an indication of future results. Consider your own circumstances, and obtain your own advice, before making any trades. Read the Product Disclosure Statement (PDS) and Target Market Determination (TMD) for the product on the provider’s website.



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