When it comes to investing for beginners, one of the biggest concerns is picking the right platform for investing. The core definition of investing involves trading money for higher returns in the future, but we often use the term to refer to the stock market and investment tools like bonds, stocks, and mutual funds. If you’re confused about the best platform to help you invest, here are some options to consider:
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1. Ally Invest
Ally Invest is a great one-stop solution for investment for beginners. While you can opt for a self-directed trading option, they also have a managed portfolio choice for customers. Initially, you can opt for the automated managed option until you get a hang of the profits and losses made on the investments you choose.
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2. Betterment
If you are looking for a comprehensive portal to teach you the intricacies of investing, look no further than Betterment. They have a section dedicated to new investors, where they help you understand your financial goals and take full advantage of technology to achieve them. Betterment follows the process of smart rebalancing, which ensures that you get better returns on your investments.
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3. Wealthsimple
For investors who are still getting the hang of the stock market, opting for automated portals is recommended. Wealthsimple has been rated highly as a simple and efficient system for investing. Some of the biggest benefits of using Wealthsimple are a portfolio that comes with zero maintenance, diversification to ensure lesser risk, and low management fees. This ensures that your money stays in safe hands and gives you the required returns.
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4. Personal Capital
Personal Capital is a wealth management portal that provides many free tools. They make investment for beginners easy, with the basics explained in detail and a list of options mentioned for inclusion in the portfolio. You can simply go for their investment service, which will help you get returns on your money in the initial stage. Under their investment service option, they offer advice on using your 401k, as well as provide you with a financial advisory team.
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5. TradeStation
TradeStation is the best option for people who need guidance for investing. They have two different approaches to investment: the first is for full-time traders and the other is for part-time investors. It also provides you with optimum solutions depending on your needs, making investment easy for beginners.
All the above-mentioned services are good options for beginner investors. They can help you safely venture into the world of investing and learn about the financial world.
