Developer: Petr Simcak
Price: $1.99 Download on the App Store
New app iProtect is for the serious investor. It serves as a risk calculator for making investment decisions by taking a variety of factors into consideration. While iProtect makes use of some sophisticated calculations to return an investment strategy, the current feature set does not match up with the level of service that it promises.
There are two major factors that you need to enter — the horizon and risk tolerance. The horizon equates to the number of years that you want to project for the investment period. The risk tolerance is adjusted to account for how much risk you want to incur over that period. Enter a high risk tolerance and you will be advised to roll the dice with your future earnings. Enter a low risk tolerance and plan for some low-risk, low-reward investing.
The calculations are certainly impressive and designed for the type of investor who is familiar with all the terminology. But iProtect doesn't quite follow up with the matching amount of features for the high level of sophistication it aims for. A major drawback is not being able to save any of the calculations. It is always a one-shot deal. Close iProtect and all the calculations are gone.
Ideally, once the investment information is available it could be tracked and linked to a portfolio. If this is in the developer's future plans this would certainly be a welcome addition. This would add some follow-through to the investment calculations that are currently in iProtect.
Essentially iProtect is most useful if you want to play around with various calculations for determining an investment strategy. But in reality if you are a serious enough investor with a significant portfolio you probably have access to other resources online or elsewhere. In the end iProtect promises a lot but does not match up to its lofty goals.