If you’re like most investors, you want to have a diversified portfolio that contains investments across a broad range of financial products. These should include bonds, treasury notes, precious metals, and yes, stocks, too.
But, for many fledgling investors, it’s not immediately obvious how to get into stocks. Do you hire a broker? Do you sign up for an account with an online company like E-Trade or Scottrade? If you do, how do you navigate the stock landscape, get quotes, and transact on the exchange of your choice?
To make this all a lot easier than it has to be, we’re sharing with you the number one easiest way to get into trading on the stock market.
Say Hello to Robin Hood
Regardless what your experience is in the stock market, there are a few things that are inherently valuable about any stock trading platform. They are:
- Ease of use
- Accurate, updated stock tickers
- Stock analytics
- Fast buying, selling, depositing, and withdrawing
On each of these points, Robin Hood excels in spades. So, what exactly is Robin Hood, and how do you go about using it?
Robin Hood is an app for your mobile device, like your iPhone or Android smartphone. All you do is install the Robin Hood app, link it to your bank account, and start trading right within the app. Push notifications make you aware of price thresholds, and you can view your positions with any stock in real-time, all within the Robin Hood app.
Want to know the best part of using Robin Hood? It’s completely free. You read that right: there are no brokerage fees or trading commissions that eat into your precious profits. Just deposit your trading funds, find the stocks you want to trade, and off you go!
The Downsides of Robin Hood
We wouldn’t be doing our job if we didn’t disclose to you the downsides to using Robin Hood. There are a few. They are:
- Robin Hood doesn’t provide deep analytics for comparing stocks. Other apps like Webull do, but they may not be as easy to use as Robin Hood.
- Day trading is restricted to just a few trades per week. So, if you’re someone looking to do a lot of day trading, Robin Hood may not be for you.
- Advanced features of Robin Hood require a paid subscription to Robin Hood Gold, which puts the kibosh the whole ‘free’ thing.
Now that you know how easy and intuitive it can be to start investing in the stock market, it’s time to get out there and start trading. Good luck!