5 answers
Elias
Student
Miami Gardens, Florida
9
Questions
Asked
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What is one of the best apps to invest stocks and crypto in order to make a smart investment that can affect you positively?
#investing #investment-management
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5 answers
Kenneth Romanowski
CFP Board Emeritus (R), CTFA (Ret.), Instructor and Researcher of Financial History
29
Answers
Ardmore, Pennsylvania
Updated
Kenneth’s Answer
Hello, Elias. Good to hear that you are looking to move forward with investing. The only free platform I am aware of that was previously mentioned is Robinhood. A few of my students have used it effectively. I'm not familiar with WeBull. Vanguard, Fidelity, and ETrade are also possibilities, but be aware of any minimum balance requirements.
Also, I'm not sure of your age, however, most firms will require a co-signer if you are under the age of 18. This is because a brokerage account is a contract between you and the firm and most states require someone to be 18 in order to enter into a contract on their own.
Finally, do your homework and don't get caught up in a lot of hype. Understand that RISK is an important component of investing. When markets are going up, everyone looks like a genius. How will you feel about your investments when the markets will go down? Good luck, have fun, but remember what I have said.
Also, I'm not sure of your age, however, most firms will require a co-signer if you are under the age of 18. This is because a brokerage account is a contract between you and the firm and most states require someone to be 18 in order to enter into a contract on their own.
Finally, do your homework and don't get caught up in a lot of hype. Understand that RISK is an important component of investing. When markets are going up, everyone looks like a genius. How will you feel about your investments when the markets will go down? Good luck, have fun, but remember what I have said.
Michael Eadeh
Investor
21
Answers
Raleigh, North Carolina
Updated
Michael’s Answer
Hi Elias,
Well first off it’s good that you’re thinking about investing at a young age! The main thing is what you are investing in, not the apps to invest with! I don’t invest with crypto. So I won’t advise you on that. I will say one of the best things you can do is start a Roth IRA. There is no smarter long-term investment out there. Your investments grow tax-free and are not taxed when you take the money out.
Two websites to look at. Vanguard and Fidelity mutual funds. Take a look at their funds do some research. Then you’ll get a better idea of what you want to invest in for the long term. Remember knowledge is power!
Well first off it’s good that you’re thinking about investing at a young age! The main thing is what you are investing in, not the apps to invest with! I don’t invest with crypto. So I won’t advise you on that. I will say one of the best things you can do is start a Roth IRA. There is no smarter long-term investment out there. Your investments grow tax-free and are not taxed when you take the money out.
Two websites to look at. Vanguard and Fidelity mutual funds. Take a look at their funds do some research. Then you’ll get a better idea of what you want to invest in for the long term. Remember knowledge is power!
Abel Travis
Insurance
6
Answers
Lansing, Michigan
Updated
Abel’s Answer
Elias,
Such a great question, and I want to commend you on thinking about this early in life.
2 Apps that I personally use for stocks:
Merrill Edge
ETrade
For Crypto:
Coinbase
Webull
These platforms will allow you to gain access to a majority of the stocks, crypto currencies, etc.
Good Luck.
Such a great question, and I want to commend you on thinking about this early in life.
2 Apps that I personally use for stocks:
Merrill Edge
ETrade
For Crypto:
Coinbase
Webull
These platforms will allow you to gain access to a majority of the stocks, crypto currencies, etc.
Good Luck.
Jonathan Kolakowski, CPA
Auditor
14
Answers
Hartford, Connecticut
Updated
Jonathan’s Answer
Hi Elias, I would second all of the prior answers and add to it! 1) It's not which platform you use to invest, it's what you invest in. 2) There's no "one smart investment" for everyone, it's what's smart for you based on your short term and long term goals. If you're just starting out, I would suggest investing in all tax advantageous accounts first (e.g. Roth IRA) rather than an individual account where you trade stocks frequently. Investing is a marathon, not a sprint. I suggest the buy and hold method, that is, make consistent monthly investments and hold onto them, don't sell/cash out until retirement. At some point in your later years you will simply be able to live off of the dividends and gains and never have to touch your principal.
Note I also do not invest in crypto so cannot provide advice on platforms or investments for crypto.
Note I also do not invest in crypto so cannot provide advice on platforms or investments for crypto.
Jofre M. Olivero
Registered Representative
3
Answers
New York, New York
Updated
Jofre M.’s Answer
Hi Elias!
Excellent question. Investing is a highly important practice in our modern financial life since is a great and more important vehicle to create wealth.
There are 2 platforms that are very popular and are free:
1. Robinhood
2. WeBull
With this platforms you can buy stock, bonds, crypto, ETFs, etc. Keep in mind to always read financial news and do research before you invest. I recommend you take some free courses and readings (in case you haven't) in order to learn more and confidence at investing.
www.morningstar.com( is a great resource to do research and learn about the markets. With a free membership you can take courses and learn what you need to start).
Good luck bud!
Excellent question. Investing is a highly important practice in our modern financial life since is a great and more important vehicle to create wealth.
There are 2 platforms that are very popular and are free:
1. Robinhood
2. WeBull
With this platforms you can buy stock, bonds, crypto, ETFs, etc. Keep in mind to always read financial news and do research before you invest. I recommend you take some free courses and readings (in case you haven't) in order to learn more and confidence at investing.
www.morningstar.com( is a great resource to do research and learn about the markets. With a free membership you can take courses and learn what you need to start).
Good luck bud!