Today, there are many legit apps and websites that has made investment very easy and convenient.
With the
help of internet and phone or computer, you can just start investing online and
earn returns on your investment.
One legit
and trusted app or website that can be used by U.S residents for making
investment is Stash.
1. Stash
Stash is an
app which was designed purposely for online investment. The app makes it easy
for anyone to invest.
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How does Stash
works?
Stash takes
money you are not using by rounding up transactions in your bank accounts to
the nearest dollar and invest the change for you. The app will do the
investment on your behalf, without you doing any work.
It collects
your “spare change” from the things you buy by rounding them all up to the
nearest dollar and putting the change into an account.
The moment
the account reaches $5, Stash invest that money into your investment account.
Stash is
very good for everyone, including beginners.
PRICE
The charges
of Stash for managing your account range from $1-$9 per month.
Note: You
only need $5 to create an account. This is Good News to beginners or investors who
do not have enough or plenty money to invest.
2. Acorns
Acorns has similarities with Stash in terms of how they work. Acorn is another best online investing company for any person who is willing to invest but does not want to think about it.
Setting up
an Acorn Account looks very easy and simple. It’s perfect for anyone who want
to use online investing site but don’t want to use too much time doing it.
How does Acorn work?
- Acorn has automatic investing feature, which makes investing easy to beginners.
- To use Acorn, link your credit cards and bank accounts to the Acorns app, and it will automatically invest little money periodically. You have chance to select from five portfolios, each with a different risk-reward ratio.
- Acorn will reinvest your dividend because it has Automatic Investing feature. You can turn off automatic investing function and start investing manually if you like.
How much does Acorn Charge?
Acorn costs
$1, $2 or $3 monthly depending on their services.
3. Betterment
Betterment
is also an amazing investment website. It is considered as one of the best
investment website and financial advisor.
There is no
minimum requirement for deposit. Betterment has great tools to help users save,
create retirement plans and cut down taxes.
How does Betterment
work?
It is an
automated investing platform, that allow even a lazy person like me to start
trading or investing automatically.
You don’t
need to do any work. Just add funds to your account and answer questions about
the types of investments you want, and Betterment will do the rest for you.
Betterment
invests in both Stocks, IRAs and Bond ETFs to create your portfolio
How much does
Betterment charge?
Betterment
charges 0.25% yearly as management fees depending on how much you’ve invested.
This is pretty low as compared to other automated financial advisor.
If you invest $15,000 or more, you will not pay management fees for one month, $100,000 or more attracts no management fees for 6 months and anything over $250,000 will not attract management fees for one year.
4. Personal Capital
Personal Capital is best for large investment and high-net-worth investors. It is good
for those who want to invest big money and constantly need a lot of guidance
and feedback on their investment.
Personal
Capital have devoted human financial advisors who can help you.
The
investment options of Personal Capital are individual accounts, taxable
accounts (joint and trust), traditional IRAs, Roth and SEP IRAs.
Accounts
that have a minimum of $200,000 get two account managers who will be guiding
and supporting them, while all account holders can use the available tools and
teams to manage their accounts.
How much
does Personal Capital charge?
Personal
Capital charges between 0.49% and 0.89 % depending on the account balance.
Join Personal Capital for free now
5. TD Ameritrade
TD Ameritrade is a very popular brokerage firm which has more options for
investment. It allows you to invest in mutual funds or use the high-tech
investing platform for more trades.
TD
Ameritrade has no minimum balance requirement. It also gives detailed free
research to help you make well informed decisions.
With TD
Ameritrade, you can invest in Stocks, ETFs, IRAs, Mutual Funds, Bonds, Forex
and International Stock Exchange.
How much
does TD Ameritrade charge?
TD
Ameritrade offers straight-forward pricing, starting at $9.99 per online stock.
6. Ally Invest
Ally Invest charges
as low as $4.95 as commission and offers a lot of value for that low
price. Ally Invest has no minimum
account balance. This looks very good to traders who are active and engage in
options trading.
With Ally
Invest, you can invest in Stocks and Options, ETFs, IRAs, Mutual Funds, Bonds,
Forex and International Stock Exchange.
Ally Invest
put aside a “cash buffer” which is about 30%of your investment, so if the value
of your investment fall, you have cash in the account that is safe from market
price changes.
It also has
a mobile app and easy-to-use platform for beginners.
How much does Ally Invest
charge?
Ally Invest
does not charge an advisory fee.
Big Acquisition by
Ally Invest
TradeKing,
another best investment company has been purchased by Ally Invest. Now,
TradeKing is owned by Ally Invest, therefore all accounts of TradeKing
customers are moved to Ally.
7. E*TRADE
E*TRADE is
one of the most popular online brokers. E*TRADE charges no commission and it
has a very powerful trading platforms which looks very good for active traders,
while beginner investors benefit from a large library of educational resources.
Summary of E*TRADE
Features
- It is easy-to-use tools
- It has a wide selection of large investment
- Access to extensive research and educational resources
- Advanced mobile apps such as E*TRADE mobile and Power E*TRADE
- Free trading platforms, including E-Trade Web and Power E-Trade.
- Commission-free stock, options and ETF trades
- E*TRADE’s tradable securities include Stocks, Bonds, Mutual Funds, ETFs, Options and Futures
- No account minimum
After going through the seven (7) legit and best apps or websites for making investment in U.S.A, I hope you have found the one you are interested in.
Note that it's always advisable to invest with two or more companies in order to diversify investment associated risks.
Please ! Do you still have something bothering your mind? Feel free and ask it in the comment section.
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