Invest EX Review Is Investex.site Safe Read Details!

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Invest EX Review: Is Investex.site Safe? Read Details!

Investex.site Review: this is the website of an investment firm that offers a trading platform for investors. Is Invest EX a scam? Making investments can come with many risks and since this one involves some sort of trading, losing capital is possible. Before choosing to trust this firm with funds, read this important review.

The most vital part of our reviews is the uncovering of if a company or Forex broker is properly licensed or not. To do this, we first establish the location or region where it claims to be based. Then we check with the commission or authority regulating trade there whether it is listed among regulated companies or not.

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Invest EX does not offer us a location but when we accessed its “Start Now” link, it mentions that the parent company, Global Investex, is based in the USA. Trading in the United States is controlled by the Commodity Futures Trading Commission and its subsidiary, the National Futures Association. Searching through the online register, we didn’t find any mention of Invest EX.

Since it turns out that this is an unlicensed firm, its mention of being registered is clearly false. These kinds of companies using deception to entice clients cannot be trusted with funds. Trading with a Forex broker that is unlicensed poses many dangers to traders’ funds. Misappropriated funds may not be recoverable by the government as well.

Advantages of Invest EX

We try as much as possible to point out the enticing offers made by many companies we review. Invest EX mentions that they have a safe and secure platform that is also user-friendly. The management team has many years of experience and profits are said to be stable.

It is common for Forex brokers to start out with claims of making clients richer. This is because everyone seeking out easier ways to trade effectively does so to make more profit.

However, traders need to be careful about believing everything they encounter in the business sphere. Some are geared to just deceive and steal their funds. Considering what is offered and proofs are effective means of discovering fraud as well as reading our reviews and comparing the offers to those of other legit brokers at the bottom of this article.

Invest EX Trading Platform

We could not find the type of trading platform that is offered to clients of Invest EX. We advise readers and traders to always look out for the MT4 or MT5 platforms. The MetaTrader platforms are commonly used because they allow the use of trading robots.

Legit brokers are known to offer at least the popular MetaTrader 4 or 5 trading platform.

These platforms are very good signs as they have become some of the most widely used by experienced traders. They are found to be compatible with various devices’ operating systems. All can be used on desktops, Linus, Windows, iOS, and Android.

Tools that come with these trading platforms are also found to be useful for traders. It has proven to be user-friendly as well and helps traders in analyzing the market easily.

The only trading instrument mentioned on the website is Bitcoin. It looks like the company only allows cryptocurrency trading which may not be satisfactory for other traders. We know that legit brokers offer currency pairs, indices, CFDs on many commodities and cryptocurrencies. It is important to let traders know the options open to them.

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There is no information on what the maximum leverage offered to clients is but while some may seem generous, they are not advisable. High leverages can lead to huge loss of funds as well. Spreads are not stated in the EURUSD pairs.

Spreads of 1.5 pips or below are what is obtainable in the forex industry and traders are asked to look out for this. Leverages of between 1:30, 1:50 and 1:25 are also common among regulated brokers.

Deposit and Withdrawal methods on Invest EX

The means that traders are to use to make deposits and withdrawals are not disclosed. This is a discouraging find.

This is because standard and legit brokers make deposits and withdrawals available via Visa, MasterCard, and Wire Transfer. Many offer e-wallets like Skrill, Neteller, UnionPay, FasaPay, and so on.

We also try to find out if the minimum deposit is within the obtainable average of $100 to $250 that is common among legit brokers. This information is not provided on the website. Withdrawal fees are not mentioned and this may be because they do not apply. However, we will appreciate it if this is stated.

This information is important so that clients can invest any little amount they can spare. In order to be able to first watch the working of the brokerage. If then they are satisfied with what they see, they can determine when to withdraw their money.

Is Invest EX Licensed?

No. Invest EX is not a licensed company and neither is its parent company, Global Investex. Though the website false claims to be registered in the US. The Commodity Futures Trading Commission and its subsidiary, the National Futures Association do not authorize it to trade.

Regulated Forex brokers in Europe, America, Africa, Australia, and Asia are under many strict rules. The regulatory bodies like the FCA, FSCA, CySEC, AISC, NFA and many others have regulations protecting Forex traders from unfair brokers. This is why they come top as recommended Forex brokers.

Support

If you want to get in touch with a member of the team of management or the customer care service, use the online message form on the website.

Conclusion

As an unlicensed company, Invest EX gets a low rating. We also do not like the fact that it falsely claims to be registered. Many of the important details we usually look out for are not disclosed, making it seem further shady. If you have anything to say about this company, do so in the comment section.

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Ally Invest Review 2020: Pros, Cons and How It Compares

Our choice for one of the best low-cost brokers, Ally Invest does it all — but it’s especially good for active traders.

At NerdWallet, we strive to help you make financial decisions with confidence. To do this, many or all of the products featured here are from our partners. However, this doesn’t influence our evaluations. Our opinions are our own.

Our Take

The bottom line: Ally Invest’s $0 account minimum and $0 trading commissions make it a strong option for all traders. A low $0.50 options-contract fee will attract options traders.

Ally Invest

Account Minimum
Promotion

in cash bonus with qualifying deposit.

Pros & Cons

Commission-free stock, options and ETF trades.

No account minimum.

Strong web-based platform.

Robust research and tools.

No no-transaction-fee mutual funds.

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Full Review

Ally Invest appeals to both the beginning investor and the experienced stock trader with $0 trading costs and a $0 account minimum, earning its reputation as one of the best low-cost brokers.

But Ally doesn’t merely compete with the major online brokers on costs: It also offers bells and whistles like forex trading, an automated portfolio management option and a suite of free tools for technical investors.

Ally Invest is best for:

Ally Invest at a glance

Stock trading costs

No base commission; $0.50 per contract.

Account fees (annual, transfer, closing, inactivity)

No inactivity fees; $50 full outgoing transfer fee.

All ETFs are commission-free.

No-transaction-fee mutual funds

No transaction-fee-free mutual funds; $9.95 per trade for no-load funds. Fees vary for funds with a sales load.

• Stocks. • Bonds. • Mutual funds. • ETFs. • Options. • Forex.

Browser-based platform with free screening tools, customizable charting, research and real-time data.

Access to core account functions including tracking, quotes and trading. Available on iOS and Android.

Research and data

Customer support options (includes website transparency)

Chat, email and phone support 7 a.m. – 10 p.m. ET, 7 days a week. No branches.

$100 to $2,500 cash credit with a qualifying deposit.

Where Ally Invest shines

Free trading: In October 2020, Ally Invest dropped its trading commissions to $0 for online stock, options and ETF trades. The price for options trades also dropped from $0.65 to $0.50 per contract, a price previously available only to investors who made 30 or more trades per quarter or had a balance of $100,000 or more. These moves are a boon to active stock and options traders.

Account minimum: Ally Invest’s $0 account balance minimum means there’s no roadblock to start trading, especially for investors at the beginning of their retirement savings journey.

Trading platform: Ally Invest’s browser-based platform offers quick trading capabilities, real-time streaming quotes and data, a customizable dashboard, and access to all of the broker’s tools. Customers who frequently trade from various computers — home and work, for example — will appreciate this web-based platform, which doesn’t require any downloads. Ally has also advanced the ability for customers to trade via mobile devices with Ally Mobile or Ally Forex, the brokerage’s app dedicated to forex trading.

Investing research and tools: Ally Invest offers a suite of investing tools that exceed expectations for a deep-discount broker. Its options trading tools are particularly strong and include an options pricing calculator to compare current bid/ask prices to forecast theoretical values, as well as a strategy scanner that identifies and executes option strategies based on criteria you choose. (Just getting into options trading? Here’s our 101 guide .)

Technical traders can dive into a suite of free tools powered by Recognia. Other free tools include a profit-and-loss calculator, a probability calculator (that uses implied volatility to determine your likelihood of hitting your targets) and the Maxit Tax Manager, which identifies tax implications of trading decisions (e.g., short- and long-term gains and losses or wash sales) and generates on-demand 1099 forms.

Side note about data: Standard quotes are free to all customers but free, real-time streaming data is available only to investors who trade more than 10 times per month.

Where Ally Invest falls short

Mutual funds: The company offers more than 8,000 mutual funds, but unfortunately they all incur transaction fees. Ally Invest’s commission for no-load funds is $9.95 (one of the lowest among brokerage firms), but investors would be better off using one of the other deep-discount online brokers — such as E-Trade, Merrill Edge or Interactive Brokers — which offer thousands of funds with no transaction fees. (Mutual fund-focused retirement savers: Check out our roundup of best IRA account providers for other no-minimum account options.)

The bottom line

Ally Invest has competitive pricing, helpful trading tools and an easy-to-use trading platform. With no account minimum, it’s easy for beginners to get started, while active investors will appreciate Ally’s commission-free trades. Those looking to buy no-transaction-fee mutual funds, however, may find a better home at another broker.

The Best Investing Apps That Let You Invest For Free In 2020

Investing is risky. It comes with few guarantees. The only investing guarantee I can offer is this: everything held equal, the less you pay in fees, the better your returns. And investing apps are making it easier than ever to invest commission-free.

Fees don’t have to stop you from making wise and lucrative investments. Thankfully, we live in the 21st century, and there’s never been a better time to be a small investor.

And now, in today’s mobile world, investing is becoming easier and cheaper than ever. Plus, with the investing price war that’s been going on, it’s cheaper than ever to invest!

Here are the best investing apps that let you invest for free (yes, free). You might also check out our list on the best brokers to invest.

Note: The investing offers that appear on this site are from companies from which The College Investor receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). The College Investor does not include all investing companies or all investing offers available in the marketplace.

1. M1 Finance

Best For: Building A Free Portfolio For The Long Term

M1 has become our favorite investing app and platform over the last year. With commission free investing, the ability to invest in fractional shares, automatic deposits, and more, M1 Finance is top notch.

If you’re looking for a way to create and maintain a free, diversified portfolio of stocks and ETFs, look no further than M1 Finance. They provide a pretty revolutionary tool/investing app that allows you to setup a portfolio and invest into it (correctly allocated) for free.

What do I mean? Well, imagine a portfolio of ETFs – maybe you have 5 ETFs at 20% each. Well, instead of having to do 5 transactions (and commission for each) when you buy, you can now simply invest and M1 Finance takes care of the rest – for free!

If you don’t know exactly how to set it up, you’re more than welcome to use one of their already setup portfolios as well.

It doesn’t get much better than M1 Finance when it comes to investing for free. ​Try M1 Finance >>

M1 Finance

Minimum Investment

Commission

Monthly Fees

Account Type

Promotions

2. Fidelity

Best For: ​ Full Service Investing At $0 Trade Prices

Fidelity is one of our favorite apps that allows you to invest for free. This surprises most people, because most people don’t associate Fidelity with “free”. However, Fidelity offers a range of commission-free ETFs that would allow the majority of investors to build a balanced portfolio. Plus, they now offer $0 commission stock, option, and ETF trades!

The also offer fractional share investing, meaning that you can invest dollar-based, not just share-based. This is a big win for people starting with low dollar amounts.

Fidelity IRAs also have no minimum to open, and no account maintenance fees. That means you could deposit just $5, and invest it for free. That makes this a much better deal compared to companies like Stash Invest.

Furthermore, Fidelity just announced that it now has two 0.00% expense ratio funds – yes free. So, you can not only invest commission free, but these funds don’t charge any management fees. Truly free investing.

But to make it a top app, it has to have a great app, and Fidelity does. Their app is the cleanest and easiest to use out of all of the investing apps we’ve tested. They have a ton of features, but it all works well together.

Plus, you get the benefit of having a full service investing broker should you need more than just free. Check out Fidelity’s app and open an account here.

Fidelity

Minimum Investment

Commission

$0 for stocks, ETFs, options

Monthly Fees

Account Type

Taxable, IRA, HSA, 401k, Trust

Promotions

3. TD Ameritrade

Best For: Free Options Trading

If you’re a trader, you may have heard of TD Ameritrade – or maybe one of their platforms, like thinkorswim. With TD Ameritrade’s commission free pricing structure (for stocks, options, and ETFs), they are more compelling than ever to use as an investing app.

TD Ameritrade offers over commission free ETFs from industry giants iShares, Vanguard and more. Because of the diversity of no load ETF funds, TD Ameritrade is my top broker for people who want to consider tax loss harvesting on their own.

Remember, TD Ameritrade also offers $0 commission stock, ETF, and options trades.

Furthermore, TD Ameritrade also have no minimum and no maintenance fee IRAs. That makes it a better pick to options such as Acorns, which charge maintenance fees.

TD Ameritrade’s mobile app also offers research, information and portfolio analysis that makes the free investing that much sweeter. Just remember, TD Ameritrade charges for some ETFs, mutual funds, and equity trades. Filter for no load ETFs before you buy.

It’s app also isn’t as user friendly as Fidelity’s but we put them as a very, very close second. ​

TD Ameritrade

Minimum Investment

Commission

$0 for stocks, ETFs, options

Monthly Fees

Account Type

Taxable, IRA, HSA, 401k, Trust

Promotions

4. Robinhood

Best For: 100% Free Stock Trades & Limited Crypto

Robinhood is an app lets you buy and sell stocks for free. Users can buy or sell stocks at market price. The app allows you to make limit orders and stop loss orders too. Unless you’re an active trader, this is plenty of functionality. Plus, the app comes with a clean user interface and basic research tools.

Most serious investors should pair Robinhood with one or more free research tools. This will help them develop a more systematic approach to investing. That said, you can’t beat Robinhood’s free trades, but its shortcomings here make it third.

They also allow options, fractional shares, and cryptocurrency investing, but these are limited as well.

The drawbacks are really limited, but one of the biggest is that the platform has become unreliable in recent months with large outages impacting investors.

If you’re curious how Robinhood makes money, it’s through Robinhood Gold. Robinhood Gold is a margin account that allows you to buy and sell after hours. Buying on margin means you double your expected returns. It also means you double your expected losses. The result (based on the magic of compounding) means that trading on margin tends to eat into your principal.

Robinhood

Minimum Investment

Commission

$0 for stocks, ETFs, options, crypto

Monthly Fees

Account Type

Promotions

5. Vanguard

Best For: Low Cost Index Fund Investing

Vanguard is consistently known as the low cost investment service provider. They were one of the original mutual fund and ETF companies to lower fees, and they continually advocate a low-fee index fund approach to investing.

At Vanguard, you don’t pay any commissions when you buy and sell Vanguard ETFs. You also pay no account service fees if you sign up to receive your account documents electronically, or if you’re a Voyager, Voyager Select, Flagship, or Flagship Select Services client.

Furthermore, Vanguard recently announced that they won’t charge a commission on a huge amount of competitor’s funds and ETFs as well!

Vanguard also doesn’t have an account minimum, and there is no minimum purchase requirement, except the cost of 1 share.​

What holds Vanguard back is that their app is a little more clunky that the other apps. It feels a little “old school”, and it seems to be built for the basics only.

However, it is free, so maybe only the basics are needed?​

Vanguard

Minimum Investment

Commission

$0 for stocks, ETFs, options, crypto

Monthly Fees

Account Type

Taxable, IRA, 401k, and More

Promotions

Runners Up

There are a lot of apps and tools that come close to being in the Top 5.​ When the competition is so good, it’s hard to make the cut.

Webull

Webull has been gaining a lot of traction in the last year as a competitor to Robinhood. It’s an investment platform that is app-first, and it focuses on trading.

Webull offers powerful in-app investment research tools, with great technical charting. This is a step above what you can find on most other investment apps.

Chase You Invest

Chase You Invest has been around for a while, but earlier this year they made their platform truly commission-free. That’s what makes it a runner up on our list of free investing apps.

Chase You Invest is also one of the few apps here that offer a solid bonus for switching! You can get up to $625 for opening a new account!

Charles Schwab

Charles Schwab also offers commission free stock, options, and ETF trades, similar to Fidelity and TD Ameritrade. In fact, Charles Schwab advertises that they offer more commission-free ETFs that most other companies, and they even offer some commission free mutual funds.

However, what keeps Charles Schwab out of the top is that they have a $1,000 account minimum for some account types.

Public

Public is another free investing platform that emerged in the last year. It’s actually a rebrand of the Matador investing app. Public is one of the few investing apps that allows fractional share investing, and they also offer a compelling interest rate on cash deposits.

E*Trade

E*Trade also offers a large selection of commission free ETFs. We are actually big fans of E*Trade for our solo 401k account, but they don’t make the top 5 when it comes to investing apps and free investing.

They just recently announced $0 stock, ETF, and options trades, but we’ll see how they compete with others on this list.

While they do offer IRAs with no minimums, and charge no transaction fees, we didn’t find their app as user friendly as the rest. Similar to their website, it’s just a bit harder to use. However, we still really like E*Trade and they are definitely a runner up.

Axos Invest

Axos Invest offers absolutely free asset management.

If you opt into their automation program you’ll pay a 0.02% fee each month (prorates to a 0.24% fee). The fee maxes out at $20 per month. In a year or two, Axos Invest may leap to the top of the list, but the company doesn’t allow enough customization for users today.

Other Investing Apps

There are other investing apps that we’re including on this this, but they aren’t free. However, they are popular and may be useful to some investors.

Acorns

Acorns is an extremely popular investing app, but it’s not free. Acorns charges anywhere from $1 to $3 per month, but it does make automating your investments easy!

Acorns allows you to round up your spare change and invest it easily in a portfolio that makes sense for you. However, if you don’t have a lot of money invested, that monthly fee can eat up your returns.

Stash

Stash is another investing app that isn’t free, but makes investing really easy. They have turned the investing process into an easy to understand platform, and they don’t charge any commissions to invest. However, they do charge a monthly fee that ranges anywhere from $1 to $9 per month.

Stash used to be known for $5 investing, but they have since gone to $0 minimums, and they allow fractional share investing.

Investing App FAQ

Here are some common questions about investing apps.

What makes an investing app different than a brokerage?

Investing apps are mobile first investing platforms. They are brokerages (just like the names you may be used to), but they allow investors to trade and invest in an app.

Are investing apps safe?

Yes, they are just as safe as holding your money at any major brokerage. These apps all are insured by the SIPC and have a variety of investor protections.

Can I invest in anything on an app?

Depends on the app. Some apps significantly limit what you can invest in, while others offer the full ranges of investment options.

Are these apps really free?

Yes. The top apps we list don’t charge a monthly fee to use, and don’t charge a commission to invest in stocks, ETFs, and options. Of course, these apps may charge service fees for additional services, such as wire transfers, paper statements, and more.

Have you ever heard of any of these investing apps? Which one is your favorite?

Filed Under: Brokerages
Editorial Disclaimer: Opinions expressed here are author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, or other advertiser and have not been reviewed, approved or otherwise endorsed by any of these entities.

Comment Policy: We invite readers to respond with questions or comments. Comments may be held for moderation and are subject to approval. Comments are solely the opinions of their authors’. The responses in the comments below are not provided or commissioned by any advertiser. Responses have not been reviewed, approved or otherwise endorsed by any company. It is not anyone’s responsibility to ensure all posts and/or questions are answered.

About Robert Farrington

Robert Farrington is America’s Millennial Money Expert® and America’s Student Loan Debt Expert™, and the founder of The College Investor, a personal finance site dedicated to helping millennials escape student loan debt to start investing and building wealth for the future. You can learn more about him here.

He regularly writes about investing, student loan debt, and general personal finance topics geared towards anyone wanting to earn more, get out of debt, and start building wealth for the future.

He has been quoted in major publications including the New York Times, Washington Post, Fox, ABC, NBC, and more. He is also a regular contributor to Forbes.

Comments

Great article I think you forgot betterment. Also there is a new trading platform tastyworks. Great platform

Robert Farrington says

There’s a constant debate between Betterment and Wealthfront. We prefer Wealthfront, but Betterment is good too.

Remember, Tastyworks isn’t truly free. They advertise $0 closing trades, but they do charge a commission to open a position (which is currently $5 for stocks). That’s on par with what most other discount brokers charge currently.

I am a bit confused when you guys say free trade on these apps. I have Td Ameritrade for a long time but when I buy or sell stocks they charge me like $9. So is it only the ETFs that are free trades. Thanks

Robert Farrington says

Yes, it is the ETFs in the list we shared in the article – over 100 different ETFs in just about every sector. If you’re looking for free stock trades, look at Robinhood, which does offer 100% free stock trades (it’s just not as robust a platform).

Am I understanding this correctly? Fidelity is not free since they will charge $4.95 on U.S. equities trades. At face value this seems more expensive than Stash, which charges $1 flat fee. However, if only investing in Fidelity IRA or Fidelity ETFs it is free. Whereas Stash will charge $1 / month and you must stay within Stash ETFs?

Robert Farrington says

Fidelity does charge $4.95 for equity trades (i.e. stocks or non-commission free ETFs), but has 100s of commission-free ETFs and mutual funds. You can invest in these in any accounts at Fidelity, but their IRA has no minimum balance requirements, which is awesome – meaning you can start it with just $5 if you really wanted to.

Now, let’s talk about Stash and why it’s more expensive than Fidelity. Stash only allows you to invest in ETFs and some individual shares (like Berkshire Hathaway) – and these are almost identical to the ETFs that are on Fidelity’s commission free ETF list. They’re not unique to Stash – they’re publicly traded ETFs. But unlike Fidelity, you’re not only paying the ETF expense ration, but you’re also going to pay $1/mo on top of that. For low account balances, that can add up to a lot.

Let’s look at an example to break it down. If you’re interested in Technology Stocks, you might consider investing in Stash’s Internet Titan’s ETF. This ETF is actually ticker symbol FDN, which is First Trust Dow Jones Internet Index Fund. This ETF has an expense ratio of 0.54% – which is pretty high for a domestic ETF.

If you want to invest in a similar ETF at Fidelity, you’d probably go with FTEC, which is Fidelity MSCI Information Technology Index ETF. It invests in the same companies, and it has an expense ratio of 0.08%. It’s also commission-free to invest in. The Stash ETF is 6.75x more expensive to own than the fund at Fidelity. Plus, you have that $1/mo fee on top of it!

So, if you have a $1,000 investment in this fund, it would cost you:
At Stash: $12 (the $1/mo fee) + $5.40 (the fund’s expense ratio) = $17.40
At Fidelity: $0.80 (the fund’s expense ratio) = $0.80

In percentage terms, your investment would end up costing about 1.74% per year in fees. At Fidelity, it’s just the 0.08%. So, when you add in the monthly fees, it ends up being 21.75x more expensive to invest at Stash than Fidelity!! All those extra fees are doing is hurting your return over time.

I would add, if you’re looking to buy individual stocks (and not commission free ETFs, look at Robinhood, which is #3 on the list).

Thank you Robert for that detailed explanation! The breakdown with the Technology Stocks ETF really helped.

Stockpile offers trades for $1, and can buy fractional shares, u do t have to have the full amount to by a stock. Basically $.99 cent trades, not to shabby, id say no less than $100 though that way ur keeping at at 1% fee, which isnt that bad, to be able to buy into any stock

Robert Farrington says

A 1% free is really bad.

Yea but stash u can invest $1 into the etf everyday, u dont have to wait until u have the full amount to buy 1 full share. U can buy fractional shares which literally means u can invest $5 into any etf stash has, which they have good ones

Depends on how much u can invest, if ur gonna go with stash, i wouldnt invest any less than $25 a week, that way expense is at 1%. Stash has some good sector ETF’ that speculatively can outperform ur basic s&p 500 index, and after $5,000 the expense is only 0.25% whish isnt bad if u think a social media index can outperform an s&p index by 0.25%

Robert Farrington says

You do realize that you can invest in the same ETFs elsewhere without paying any management fee (0.25% or higher). And if you invest in the same social media index, on say Robinhood or M1, you automatically outperform anyone using Stash because there is no management fee on top of your regular expenses?

Robert Farrington says

There’s where we disagree. With multiple platforms listed above, you can buy fractional shares. As for good ETFs, Stash has some good ones, and some poor ones. I think you might find this article about whataboutism and excuses helpful as a frame of reference when comparing investment platforms and options: https://www.thecollegeinvestor.com/21437/financial-whataboutism/

Whats unique about stash is, u can buy fractional shares of a stock, granted there list of stocks are limited at the moment, they continue to add more, and its a flat $1 month fee, so depending on how much u r investing u can figure out the expense. And once u get balance to $5,000 its a flat 0.25% which is very reasonable to be able to buy fractional shares and invest weekly or daily.

Robert Farrington says

You realize that you can invest on Robinhood or M1 for free, and M1 allows fractional share investing and you can invest daily or weekly should your heart desire.

And while, for some people, a 0.25% free might make sense, for what you get on Stash, it really doesn’t.

Jose Ortiz says

Could you please advise me on what app is best for a beginner like me that wants to start investing/saving money and what might be best to invest in?
Thank you in advance.

Robert Farrington says

If you want to do things more hands on – any of the apps 1-4 would work.

If you want a hands-off approach, look at Betterment to simply connect your account to save and automatically invest.

So let’s say I just wanted to go buy some stocks on the stock market like Pepsi or Ford. Spending in the one or $2000 range but not selling or buying very often. What would you recommend So I’m not getting hit with a lot of these in the long run

Robert Farrington says

If you want to buy stocks for free – Robinhood is the way to go.

If you want to buy and hold ETFs and Mutual Funds, Fidelity and TD is the way to go.

If you don’t want to ever think about it, and just want to invest and have it done for you, Betterment is the way to go.

Jared Connell says

I’d these brokerages offer commuting free trades, how do they make money? I understand that some of them offer free etf trades in hopes that you’ll trade in stocks or other funds km the list, but how do places like robinhood make any money?

Robert Farrington says

It’s also important to note that a company like Robinhood has much smaller expenses than a big firm. They are leveraging technology to keep costs low.

I think M1 an RH are best for me. M1 seems the superior for long term, due to auto investing setting which basically let’s you drip all divys from any stocks, just 10$ minimum order. Plus the fractional shares are a nice bonus. RH is a nice alternative to going to a casino, the biggest cons are limited available securities able to be traded and most their focus recently seems to be on crypto exchange, which is about a 3% fee for buys and sells. But RH biggest pro I think is once you have connected your bank account there is no wait time to use that cash to buy, same for selling. Incoming funds are always immediately available. Outgoing funds are pretty fast, they say up to 5 business days, but I’ve never waited longer than 3 days, one time it even transferred the next day. Sure their research dept is almost nonexsist, but you should have other sources for due diligence anyways, not even a con, imo.

Great resources! I’m interested in trying Fidelity or M1 after reading this. Does anybody have longer term experience with either of these companies? I’d love to hear about the experience from a year or longer.
I have had funds with Vanguard and I have been pretty pleased. Their customer service has always been awesome!

Robert Farrington says

I’ve been with Fidelity for over a decade and they’re great. I’ve been fiddling with M1 for a year or so, and I love it! One of the best investing platforms I’ve seen.

Thank you for the information and apologies if this is a trivial question.

Which platforms lets me manage multiple portfolios (say I want to manage a separate portfolio for each child and one for myself).

Robert Farrington says

All of the major brokerages (Fidelity, E*Trade, TD Ameritrade) allow this, but the law requires you have a power of attorney to do it.

So, what you would have to do is open each account, have each child sign a power of attorney for you, and then the account will show in your dashboard.

Thanks for the response.

I did not explain the question correctly. I do not mean official, named separate accounts but rather only a way to manage my money in separate “buckets” so it is easy to track.

Another item I ran across (at M1 for example) is that they can only support US permanent residents (vs residents on Visas), is that typical for these services?

Lorenzo Morales says

I would like to invest, but as a retired teacher I have very little left over at the end of the month.
Just to mention, around a dozen years ago I knew this retired teacher who spent between 10 minutes to 40 minutes a day managing his online portfolio. Doing this he was able to supplement his retired living style while clearing around $70,000 a year.
Today, he rides on luxury cruise ship traveling port-to-port visiting and ,eating new people around the world for about $1,000 a month. Great he has a roof over his head, gets three square meals and all his needs catered to hand to foot for around $1,000 a month, better than any senior citizen community has to offer, while still making $2,000 a week from his online investment portfolio.
As a retired teacher with little to invest is such a lifestyle stile reachable in this day and age and if so what are your professional suggestions?

Robert Farrington says

I first (to level-set expectations) wouldn’t expect to even get close to that level. That took years of compound returns and growth to achieve.

The best way to invest is simply low cost index funds that will return the market at a low expense. This list has the best ones to do it at.

If you’re not sure where to go, find a financial planner in your area to help you.

What are your thoughts on uStocktrade in comparison to Robinhood (besides UST charging $10 per trade and $1 per month and Robinhood being free)?

Robert Farrington says

What type of investing are you going to be doing? Or are you going to be trading?

Perhaps you weren’t aware of the Matador and Webull competitors to Robinhood at the time of the dissemination of your article on the subject. They allow commission free trades, as well.

Robert Farrington says

Hey Dave! Familiar with both. We just put out our Webull review here. Matador is coming soon.

They have some potential (especially for traders versus investors), but they don’t make the top 5.

Hi, does anyone know if any of these platforms support non-u.s.a citizens? Like international students?

Robert Farrington says

No, you must have an SSN to use any US-based investing platform.

Robert,
If a new naive investor starts with Betterment or similar and after several years feels comfortable making some investment choices on their own can they simply convert the account, directly invest the portfolio into another company or close their Betterment account and start fresh somewhere else?

Robert Farrington says

You can always transfer out any time. However, Betterment is a great tools. A better option if you want to invest a bit on your own would be to open a second account and try it out a bit. For the long term, it’s not necessary, but some people want to for fun.

Can someone tell me what platform is best to start and begin investing and or trading? I am a stay at home mother with my own business and want to start investing for my girls future. Where should I start?

Robert Farrington says

We recommend M1 Finance above, that’s why it’s #1 on the list!

I want to start options trading. I use Robinhood, and it lets me trade options, but doesn’t allow spreads for me. As per Robinhood, I need more experience with trading options to enable speads. So is there any other app which lets me trade option spreads for free?
Thanks.

Robert Farrington says

There are no other apps that let you do it for free.

Great information it clarified most of my questions. I am a beginner and want to invest. I want to an app to automatically transfer my money and the app do the work. Which one is the best? I am leaning to M1 app…will it automatically invest or i have to monitoring closely?

Robert Farrington says

M1 automatically invests into the setup that you create.

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