When it comes to investment for beginners, one of the biggest concerns is picking the right source of investment. The core definition of investing entails trading money for higher returns in the future, but, conventionally speaking, we often use the term to refer to the stock market and investment tools like bonds, stocks, and mutual funds. If, as a beginner, you are confused about the best product to pick, here are some platforms that cover all of the mentioned and provide you with good suggestions for creating a diversified portfolio:
- 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 even have the 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.
- 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, wherein 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.
- Wealthsimple For investors who are yet to get a hang of the stock market, opting for automated portals is recommended, but it is crucial to understand the efficiency and record of that particular portal. Wealthsimple has been rated high in both of these areas. Some of the biggest benefits of opting for this portal are a portfolio that comes with zero maintenance, diversification, which ensures lesser risk, and, most importantly, low management fees. This ensures that your money stays in safe hands and gives you the required returns.
- Personal Capital Personal Capital is a wealth management portal that also provides many free tools. They make investment for beginners very 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 give you 401k advice and smart weighing and also provide you with a financial advisory team.
- TradeStation TradeStation is the best option for people who seek guidance while 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 portals are good options for investment for beginners. These are safe to opt for when venturing into the trading world to increase your wealth. They will help you in the process in different ways, making investment easy and learning about the financial market interesting.
