Individuals looking to get involved in discount trading will likely be searching for the best investing platforms. These days, the best solution is to go through an online discount broker instead of hiring a full-time professional who does almost everything for you. Technology has made it easier to either automate things or to educate yourself, make informed decisions, and take care of your investments manually.
There are options that can be a combination of these, depending on which of the best platforms you choose. How exactly do brokerage accounts work? To buy and sell certain assets, such as stocks, mutual funds, bonds, etc. you’ll need to open up an investment account, also known as a brokerage account. This is where your cash will be held that you will use to purchase or sell investments, as well as keep the investments once you own them.
Before you get started with any of the best investing platforms, you must first think about what you need from them. The answer will depend on your own personal investment goals and where you are with your level of knowledge. If you’re brand new to the world of investing, you’ll want to prioritize features like educational resources, helpful support staff, easy-to-access glossaries and tutorials, and the ability to practice trades in a “learning account” before moving on to making them with real currency.
Best Investing Platforms for Knowledgeable Investors
If you consider yourself to be at least somewhat knowledgeable and experienced already, then it’s okay to go with something that will help you get trading pretty quickly. You’ll also want more high-level educational materials as well as opinion-based resources authored by the top, expert investors and analysts in the industry.
Versatility is another important factor offered by the best investing platforms. Everybody knows that diversity is essential when it comes to starting and maintaining a portfolio. You don’t want a platform that puts too much of an emphasis on a single type of investment or industry.
Luckily, you don’t need a lot of money to use an investment platform, although many of them do have a minimum requirement for getting started. If you already have an account and want to switch platforms, choose one that will pay the transfer fees for you. As for customer support, you’ll want more than just the option to “open a ticket”. Go with a platform that offers support from actual living brokers. Direct broker contact allows the platform to establish strong relationships with clients.
One of the best investing platforms right now for investors who already have some experience is Zacks Trade. They offer clients as much control as they need, yet still ensure that the support is there when it’s needed. Plus, there are no inactivity or maintenance fees.