3 Online Trading Sites to Get You Investing

1. Etrade

Etrade is an online brokerage firm. It is for self-directed investors. This means you have the power to invest as you choose.

Pricing

Transaction prices are listed here.

Minimum Deposit

$500

Phone App

Etrade does have a phone app (in addition to the website) that gives you access to your portfolio, news articles, and investing education tools.

What I like:

I like the ease of use of the Etrade website. There are video tutorials. T

Cons:

There is a fee to trade. The cost to sell and buy stock is $6.95 as of publication date.

2. Robinhood

Robinhood is a free stock brokerage firm. It is for self-directed investors. It only offers stock trading at time of publication. Robinhood makes its money buy lending the money customers deposits, similar to what banks do with checking and savings deposits.

Pricing:

Free stock trades.

Minimum Deposit

$0

Phone App

Yes.

What I Like:

It is free. If you are new to investing, this can be a less intimidating method of entry.

Cons:

  1. The fact that it is free may cause you to trade too often to realize a real growth potential.
  2. You must still pay a an SEC and FINRA Trading Activity Fee (TAF) fees. See here.
  3. You cannot purchase OTC (penny stocks) using Robinhood. Robinhood only offers stocks from the NYSE and NASDAQ.

3. Bloomberg

Bloomberg is site that provides news regarding investing from around the world.

Pricing:

Free

Minimum Deposit

N/A

Phone App:

Yes.

What I Like:

I love the Bloomberg phone app. It sends push notifications regarding news articles. There is also a feature to create a watch-list. The watch-list is lists of stocks you select. It is a simulated purchase. You can track how well your stocks perform before you spend money.

Cons:

This is not a stock trading app. It if informational.

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