If the hot economy has you wanting to invest in the stock market, but you’re not really sure how to get started, we’ve got you covered.
They’re investment apps that allow you to invest just a few bucks at a time, and PC Mike Wendland has three of them this week.
Robinhood offers free trades in stocks, as well as exchange-traded funds and options. It’s aimed at those with a bit more investing experience, and looking for a commission-free trading platform.. With Robinhood, there is no account minimum to get started and it integrates seamlessly with more than 3,500 banks. The app is free for iOS and Android.
M1 Finance is a low cost investing platform that allows you to set up your ideal portfolio, and automate contributions. That means once your default is set, you don’t have to think about it again. You can also place individual orders if you want to invest in the latest hot stock. There are no management fees or commissions. The app is free for iOS and Android.
Stockpile allows investors to buy fractional shares of stock. That means if you can’t buy a company trading at $1,000 a share, you can buy $100 worth and a tenth of a share. It charges 99 cents per trade and requires a $5 minimum investment. A unique feature is the ability to send gift cards for stocks, meaning you can send someone shares (or partial shares) of a stock. The app is free for iOS and Android.