You might be discouraged from investing because you don’t have much capital. However, some investment sites and apps will let you sign up for free or a small fee and you invest small amounts. If you consider yourself a “small-time” investor then check out this guide on the best investment sites online.
If you’re a beginner to investing, then going with an online broker or robo-advisor could be the best option for you. Here are some of the best investment sites online that offer free stock trading.
E*TRADE is widely known as an online investment site for beginners. It has a user-friendly platform that appeals to both experts and small-time investors. E*TRADE has free commissions on trades, too.
Another great online broker for beginners is Charles Schwab. It charges the lowest amount for commissions and account minimums among other beginner investment websites. The platform also has great customer service and extensive research and analysis available.
With Merrill Edge, you have access either via your desktop or mobile device. This is a great platform for investors starting out because the service is more hands-on than other online brokers. The initial minimum investment is $0.
TD Ameritrade has slightly higher fees than most, but this is offset by the $0 initial minimum investment and its in-depth educational platform. You can set up an account and have a look around the site before having to deposit any money, too.
Another way for small-time investors to get started is with investment apps. These apps differ from traditional stockbrokers because they encourage customers to save up spare cash for investing in fractional shares.
Dubbed micro-investing apps, they require almost no capital and no knowledge of investing to get started. Here are some micro-investing apps worth checking out.
Acorns is one of the most well-known micro-investment apps out there. You need $5 to get started and a basic account costs $1 per month. You can link either a bank account or choose the “round-up” option by linking your credit or debit card.
Your purchases get rounded up to the nearest dollar or whatever amount you choose and the extra cents go into your Acorns portfolio.
Robinhood is free to sign up and doesn’t charge a commission. Unlike the round-up feature with Acorns, Robinhood lets you sell full stocks and you can use Bitcoin. It’s a great app for beginners who don’t want to spend too much to start off with and who want to learn the basics of investing.
WiseBanyan is completely free with only a $1 minimum deposit. You can build a portfolio on their free account as well. Portfolios are set up for milestones, so you can save toward life goals like buying a new home or adding to your retirement fund.
The Best Investment Sites Online – Final Thoughts
With online brokers for beginners, small-time investing has never been easier. You can make investing even cheaper and even less of a hassle with micro-investing apps too. Don’t fret over a small amount of capital – you can still get started with investing today.