How To Invest Online

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how to invest online

Investing online can be a great way to make money and get some great experience with investment as a whole.  Also investing online tends to be a cheap way to really avoid fees that you would experience when you go to a financial planner or go to a brokerage firm’s office.

 

  • E*Trade

This is one of the first online trading companies. It offers you a variety of different products: you can purchase individual stocks and mutual funds.  It no longer offers global trading options, so you only need to research US companies.  It offers you a variety of research tools and they will give you the tools to learn more about investing on your own.

 

  • Bettermint

This is one of the first robo-advisors on the market.  It has low fees associated with it since they offer a blend of individual stocks and ETF (index exchange trading funds). They will automatically rebalance your portfolio. They will make you fill out a questionnaire to assess how quickly you want the money to grow and how much risk you are comfortable with. If you want hands on advice, they do have certified financial planners to help talk you through your plane and they are fiduciaries which means they are required to give you the best advice possible rather than try to sell the products that make them the most amount of money.

 

  • Motif

Motif is a site that offers you a variety of features: a broker, portfolio manager and even some Robo-advisement. Users will pay $4.95 to buy stocks or ETFs. They also sell collections of stocks and ETFS called Motifs which cost $9.59 per purchase. You can invest at any amount but you must have $300 in order to invest in a Motif. This is bare bones and offers limited research tools.

 

  • RobinHood

This is a low cost trading app. It costs $0 per trade and has no minimum balance.  THis is extremely bare bones so do so there is no research and analysis tools so you will need to evaluate prospective trades elsewhere. This is something you can get free trading and learn the ropes which is great. You can’t beat the flexibility and the cost.

 

  • Traditional Finance Companies

Vanguard, Fidelity and others will allow for you to manage your accounts online. They will allow you to make changes to your account and even make trades online.  Although beware of fees since they tend to be more expensive than companies that live online only and use robo-advisors. But they give you several research tools and will help you make the best choices for you account.  NerdWallet highly recommends TD Ameritrade and Charles Schwab accounts.

 

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