Thanks to the internet and the outstanding websites that can guide investors, it’s easier to begin investing than ever before. Even so, you don’t want to jump into investing with just any site chosen at random.
Instead, there are certain criteria to seek. Look for a website that’s both simple and affordable to use. And, most likely, you’ll want one that will let you make small trades at first. That way, you can get acclimated to the world of investing without accepting major risk at the outset.
Ally Invest may be a lesser-known investing website right now, but its reputation for quality is growing. You can get started here with no money in your account. From there, you can build a diversified portfolio with bonds, mutual funds, IRAs, exchange-traded funds and more.
This site’s trade commissions cost just $4.95 apiece, and you can use its mobile app if you’d like. All in all, Ally Invest is easy to work with, and it boasts responsive customer service and plenty of online educational materials about finance.
TD Ameritrade stands out for its wealth of investment options. As such, you can make very personalized and specific trading decisions on this site. And, if you’re new to investing, you can have a licensed broker oversee your decisions and steer you in the right direction.
You also have the option of going to a real-world TD Ameritrade office for assistance whenever you want.
OptionsHouse is one of the most economical investing websites in existence, and it doesn’t charge extra for help from a broker. Even better, when you first create an account, you can make 60 trades for free.
On the other hand, your options are much more limited on this site. If you just want to make some basic investments, though, OptionsHouse could be the right choice for you.
TradeStation is a valuable website for people with at least some investing experience. That’s because it’s full of professional tools, and the lowest amount you can invest is $5,000.
Not to mention, each trade that’s made with a broker’s help costs $50, which means you’ll probably be making most trades yourself.
In short, spend some time on any of the above sites, and you should find that your investment knowledge grows as fast as your piles of money.