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Best app to get started with stocks?
Posted on 4/24/21 at 8:57 am
Posted on 4/24/21 at 8:57 am
What you guys recommend? Never done this before so starting off extremely small until I figure out what’s going on.
9
Posted on 4/24/21 at 9:07 am to doubleh
TD Ameritrade
Posted on 4/24/21 at 9:10 am to doubleh
I have TD and like it. The $6.95 commision on OTC stock trades led me to open a Schwab account also, where those trades are 100% free. But I like the interface much more with TD Ameritrade
Posted on 4/24/21 at 9:32 am to doubleh
Read the sticky !!!
Posted on 4/24/21 at 9:39 am to doubleh
quote:
until I figure out what’s going on.
Good luck with this part.
My best advice is to buy good companies and never sell.
Posted on 4/24/21 at 9:39 am to Fat Bastard
Guess I could’ve done that. Never been to
This board before. Didn’t read much. Thanks for the advice
This board before. Didn’t read much. Thanks for the advice
Posted on 4/24/21 at 9:51 am to doubleh
I just recently started investing this past year. I’ve used TDA and have not had any complaints. I have a regular trading account and an IRA with them and I find their app easy to use and navigate.
Posted on 4/24/21 at 10:01 am to doubleh
I’ve found Td Ameritrade has the simplest user face.
As does Robinhood- but stay away from that garbage. . Go read about the GameStop stock debacle before putting money in that brokerage.
And just as an FYI - this is what I generally tell younger family/friends of family about investing in stocks.
1) generate a general plan of what stocks or funds you want to buy. Is this for fun? Is this for retirement? What is your investment timeframe (that makes a huge difference when determining when to buy/sell). It doesn’t have to be overly complicated. Just get a general plan.
2) open a brokerage account (TD Ameritrade, E-Trade, Fidelity, M1, etc.) But not Robinhood
They are all super easy to open - most allow you to trade within 30 minutes of opening the account.
3) deposit some money
4) sleep on it for a night
3) buy according to your plan
4) sit and watch - don’t overreact from gains or dips. Enjoy the ride. I find it very rewarding to manage a portfolio. (But mind you - what I manage isn’t the bulk of my retirement. That is auto withdrawn/invested into a group of index funds)
5) if you like it after a couple of months to six months, start depositing a pre set amount into that account each month and invest it where ever you want from there (make it a preset amount - it will help keep you patient)
Warren Buffett said it best ... the market is an extremely efficient mechanism at transferring wealth from the impatient to the patient investor.
As does Robinhood- but stay away from that garbage. . Go read about the GameStop stock debacle before putting money in that brokerage.
And just as an FYI - this is what I generally tell younger family/friends of family about investing in stocks.
1) generate a general plan of what stocks or funds you want to buy. Is this for fun? Is this for retirement? What is your investment timeframe (that makes a huge difference when determining when to buy/sell). It doesn’t have to be overly complicated. Just get a general plan.
2) open a brokerage account (TD Ameritrade, E-Trade, Fidelity, M1, etc.) But not Robinhood
They are all super easy to open - most allow you to trade within 30 minutes of opening the account.
3) deposit some money
4) sleep on it for a night
3) buy according to your plan
4) sit and watch - don’t overreact from gains or dips. Enjoy the ride. I find it very rewarding to manage a portfolio. (But mind you - what I manage isn’t the bulk of my retirement. That is auto withdrawn/invested into a group of index funds)
5) if you like it after a couple of months to six months, start depositing a pre set amount into that account each month and invest it where ever you want from there (make it a preset amount - it will help keep you patient)
Warren Buffett said it best ... the market is an extremely efficient mechanism at transferring wealth from the impatient to the patient investor.
Posted on 4/24/21 at 10:12 am to doubleh
WeBull unless you want to do pennies
Posted on 4/24/21 at 10:39 am to doubleh
I use Fidelity and am happy with them. I think you'll find Fidelity and TD Ameritrade to be the most heavily recommended here.
Posted on 4/24/21 at 2:22 pm to doubleh
as in app to trade stocks? i use etrade
Posted on 4/24/21 at 7:40 pm to Shameless
quote:
The $6.95 commision on OTC stock trades led me to open a Schwab account also, where those trades are 100% free.
Someone just starting out should just skip right over this.
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