With the pandemic we are facing today, we face the reality of the importance of saving money. Due to the inconsistency of the income of most businesses, many people have lost their jobs. This is why it essential that we must set aside even a small amount of our income so that we can use it when we need it.
Investing is a must for every individual as it essential for a better future. It allows you to save the money you have now for your retirement days, emergency needs, marital use, and many more.
However, Investment comes with a risk. This risk depends on how much you are willing to take. The key to this is simple, only invest the money you are willing to lose. Today, due to the advancements of technology, investment has become a lot easier.
There are now various investment apps that offer easy and cheap investing on their platforms. Nevertheless, always keep in mind that fees shouldn’t hinder you from making lucrative and wise investments. Instead, think of its as a small fee for your future.
With that said, there are a variety of investment apps that lets you invest in their platform. Below are some of the top investing apps that offer free services to help you in the investing industry.
Top Free Investing Apps
1. Fidelity
A favorite amongst investing apps that allows you to invest for free. Fidelity is great to use for full-service investing that has zero trade prices. Most people have a misconception that fidelity comes with a price which is wrong as it provides a wide range of commission-free ETFs hence allows investors to have a balanced investment portfolio. Today, it now offers $0 commission stock, ETF trades, and options.
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Fidelity also provides fractional share investing which is a great advantage as it benefits inventors starting with low dollar amounts. The reason behind this is that people can invest in dollar-based, not just share-based investments.
Fidelity IRAs require no minimum amount to open and have no account maintenance fees. You can deposit any amount you like for even as low as $5 and turn it into an investment. Recently it declared that it has now 0.00% expense ratio funds so that investors can invest commission-free without worrying about management fees.
2. M1 Finance
M1 Finance is a great choice for those who want to build a free long-term portfolio. It is a top-notch platform that provides commission-free investing to allow people to invest easily in fractional shares, automatic deposits, and many more. It is perfect for those who are looking for a means to build and maintain a diversified portfolio of stocks and ETFs for free.
It provides people an investing app that lets you create a portfolio and invest in it without any fees. Recently, it is offering a great bonus wherein you can have up to $2,500 when you deposit your latest money.
3. Robinhood
Robinhood is an application that allows you to buy and sell stocks for free. It is recommended for those who are looking for 100% free Stock trades as well as limited crypto. Investors can purchase and sell stocks at market prices and also lets them make limited and stop-loss orders. It also includes a clean user interface along with basic research tools.
Though it has its shortcomings, Robinhood is one of the best in free trades. It offers fractional shares, options, and cryptocurrency investing. For those who are curious how Robinhood earns the money, it is by using Robinhood Gold which is a margin account that lets you purchase and sell even after hours.
4. TD Ameritrade
For those who are opting for free options trading, TD Ameritrade is perfect to use. The platform has been around for many years and has been well-known to some investors. It is very compelling to use as it offers a commission-free pricing structure for ETFs, stocks, and options.
TD Ameritrade is one of the top brokers that is recommended for those who are considering tax-loss harvesting by themselves due to its diversity of no-load ETF funds.
Like other free investing apps, it also requires no maintenance fee IRAs and no minimum deposits. Its mobile application allows research, information, and portfolio analysis for a great investment process.