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” s up you guys. It s graham here so as usual. I always read all all of the comments and if you guys asked me to make a specific video will go ahead. I will listen i will make the video and this video is exactly that because recently.
I ve received non stop comments asking me to review many of the investment apps. Out there and give my opinion about which ones would be the best to make money with no here s the thing. Though when it comes to this no joke. There is a lot to keep track of and even for me making this video.
It was overwhelming because there were just too many options we got robin hood weeble m1 finance stash stockpile betterment wealthfront fund rise and that s just the extent of what i could remember and say in one take. But anyway. Now that i ve looked into all of them. It s become very apparent that some of these are just significantly better than the others so with this video.
I will do my best to break down the top five investing apps. Out there not only in terms of making money but also with apps that just don t charge you stupid fees for using their service. Because if there s one thing. I cannot stand it s excessively high and unnecessary fees really quick.
I just want to thank our very special video sponsor. Today and that s called smashing the like button. If you haven t done that already for the youtube algorithm as most of you know these videos taking a very long time to research and make so something as simple as smashing a like button helps out the youtube algorithm and helps push this video to an even larger audience. So thank you very much to smashing that like button for making this video.
Possible today and with that said. Let s get into the video and go over the top five investment apps to use in my own opinion. Not financial advice for entertainment purposes. Only so first.
We re gonna be looking at the most popular requests on my channel by far and that would be robin hood and chances are if you re watching this video without ad blocker on which hopefully guys hopefully you re watching my videos without ad blocker on. But anyway. You re probably going to see. A robin hood ad.
On this video. Because they ve been geniuses lately about running ads on my channel anytime. I talk about investing but in terms of an app. I am proud to say that this is one of the very few that i like and use and if you re not familiar with what robin hood is yet because hopefully you should already know this.
But if you don t here s what robin hood is they re basically just a stock trading app that allows you to trade stocks and eta sing even crypto currencies entirely for free that s right. I said it free that means they don t charge you anything because it s free. I ve used robin hood myself over the last two years just to buy and sell like a few things on the side for fun. And honestly.
I ve been pretty happy with the experience. The fact that they don t charge any fees is awesome. But it s also a very easy app to navigate and i think it would be perfect for beginners of course by now you might be wondering to yourself wait a second graham. If it s free.
How do they make you money well they make their money from their premium services like robin hood. Gold which allows margin trading for 500 a month. They also make money from interest on your cash deposits like pretty much any other bank or financial service out there oh and i almost forgot silly me they also make money from selling your data. Which let s be real by the way who cares.
I never understood why people get so upset. When their information is sold to third parties to then remark it back to them in the form of advertising. I listen our information is already out there any time you go on the internet or log in anything chances. Are your information is being sold to third parties.
You know may as well just embrace. It it s not that big of a deal so anyway. I digress going back to robin hood. Even though i love the app.
There are a few downsides with this that i would like to mention now. The first one. I heard is that their customer service is lacking anytime. You might have a potential issue.
No even though. I ve never had to use their customer service for people that have i have just heard horrible experiences from other people so for this reason. I wouldn t recommend trading with a huge amount of money on robin hood. Like don t trade with like hundreds of thousands or like millions of dollars on robin hood and at that level anyway.
It s probably worth it you pay even a small amount just so you have the option to call up a person and speak with like a live actual human being within a few minutes of calling. If you have any issues now second with robin hood. You re not able to purchase what s called fractional shares. Which means if you want to go and buy a stock of amazon for instance.
You re gonna have to come up with the full two thousand something dollars to buy the entire share instead of investing like 20 to buy one one hundredth of one share. Now this is not the end of the world. And it s not that big of a deal. But it would be nice to be able to purchase fractional shares.
If robin hood ever allows that in the future. The third. Robin hood does not offer dividend reinvestment. Which means anytime you get a dividend payout.
It s not just automatically. Reinvested. And you have to manually go. And do that again.
It s not the end of the world. It s not that big of a deal it would be nice. But it s just a very minor inconvenience and forth. If i m gonna be really nitpicky here and just and just go extreme with this.
Robin hood does not have any retirement accounts. Again. This is not the end of the world. It s not that big of a deal but i would like to see at some point robin hood.
Expanding to like checking and savings accounts and then eventually or beforehand retirement accounts. So robin hood. If you guys are watching this video. Right now.
Which i have a feeling someone from robin hood is probably watching this video number one i recommend sponsoring one of my videos. Because i would say yes to that if you wanted to sponsor a video and second make retirement accounts happen. Let s make retirement accounts great again and you could start by putting that on robin hood. That s it if you re trading with smaller dollar amounts.
You re just starting out and you just want to get your feet wet by buying and selling stocks or even. If you re like a somewhat advanced trader who just wants to buy and sell without paying any commission s that i would definitely recommend robin hood and this would be one of my top investment apps. The second let s talk about another very popular investment app that hundreds if not probably thousands of people have wanted me to finally talk about i had never talked about this before on my channel. So you ve heard this here first.
We re gonna be looking into m1 finance. Now m1 finance was requested from me so much that it was on the same level as robin hood. Which i think is very impressive. Considering that robin hood is such a huge company and m1 finance is maybe just a little bit smaller in comparison.
So it goes to show you how well of a job. M1 finance is in terms of building. An audience and getting people talking about them now for those of you that are not aware m1 finance is another investment app. Which you guessed it it s totally free now because i m listing this second to robin hood and because there s so many similarities between them i m just going to go over the differences between robin hood and m1 finance.
The first when it comes to this. Robin hood is a great app for buying and selling stocks. So. If you re just going in trading stocks.
All day. Then robin hood would be my recommendation. However. If you re looking for steady long term investing then i really got to hand it to emma.
One finance. They win a huge benefit with m1 finance. Robin hood is that they allow you to invest in like i said fractional shares. You do not need to go and spend two thousand dollars to buy an amazon stock.
Instead you could spend 20 and invest in amazon stock. And still say you invest in amazon stock. And if you re just starting out. And have a limited amount of money this is a really great way to build out a very diversified stock portfolio with a lot of different stocks without needing a ton of money the other great benefit of m1 finance.
Robin hood is that they allow dividend reinvesting. Which means that you can reinvest back into the stocks automatically with the money that those stocks generate you m1 finance also allows you to do what s called m1 retire. Which you don t need to be a genius to figure out that this is basically their retirement account with again. The best part about all of this is no fees whatsoever.
It s entirely free and when it comes to investing in all of this and try to build out a diversified portfolio they offer what s called the investment pie. This could either be a percentage of stocks that you put together yourself that automatically rebalance depending on how much money you want allocated to each stock or they offer their own stock market funds depending on your investing goals now of course like with anything no app is perfect. And there are some downsides to this and i would say the only downside to m1 finance that i can really see is that it s not really the best platform for day trading stocks. This is because they do not allow you to buy and sell a stock within that same day.
But really if you just want to go and buy and sell stocks all day long. Then you may as well just use. Robin hood instead and to be honest. I m also just not a huge fan of day trading stocks to begin with not only is it a lot riskier.
But i prefer a long term buy and hold approach. That s also better for tax reasons as well once you hold something for over a year. It counts as long term capital gains instead of ordinary income so overall. I m super happy with m1 finance and would highly recommend them to anyone looking to invest long term or to invest in fractional.
Shares. And i ll link to all of their information down below. In the description. So i recommend you guys go check that out if you want to learn more about m1 finance.
Now my third choice is another really popular one that i actually just recently revealed. But because it was actually pretty decent and i liked it i think it deserves to be on this list. And that would be acorns basically acorns is an app that just helps you automate your investing and i would say in my opinion. Their most notable feature is within their roundup services.
Which basically lets you round up the purchase of everything you spend money on up to the nearest dollar and then gives you the option to multiply that by 10 and it ll automatically reinvest that amount for you they also give you the option to set up recurring investments on a daily weekly or monthly basis and again the entire purpose of this it s really just to help you automate recurring and consistent investments over time now in terms of where your money goes anytime. It s automatically invested for you they say on their website that your investments are then diversified across more than 7000. Stocks and bonds and automatically rebalanced when the stock market fluctuates so pretty much they re investing in broad index funds that track the entire market very similar to the vanguard index funds that i love to talk about here in the channel now in terms of how much this will cost you because again i care way too much about how much these services are their basic service begins at 1 a month. Which gives you access to their automated investing.
Where they round up the charge and invest the difference then for two dollars a month you get access to their ira and for three dollars a month you get access to their checking and debit card now overall. I would say this is a pretty decent app. If even just for the round up feature by itself. However the downside to this is that the 1 a month charge will heavily eat into your profits.
If you only have like a few hundred dollars invested or you only use this just for the roundup feature alone. But once you have more than five thousand dollars. Invested with acorns than the 1 month charge is pretty much on par with what vanguard charges and then anything beyond five thousand dollars. Now just become slightly cheaper and when it comes to me i like cheap a lot.
I d like not overpaying for things. And i like saving money so when it comes to this i could see the value in acorns as long as you have more than five thousand dollars invested with them and again let me be clear acorns is not the app for you if you just want to buy and sell stocks all day. But acorns is good for the round up feature. If you just want low cost broad index funds that don t really cost you a ton of money now.
I don t like that you don t have as much control as you do with vanguard or fidelity or just buying and selling individual stocks. But for what it is i would say it s decent and again. I ll have all of the info available to you down below in the description and also if you want. 5.
When you sign up there s there s a link to that down below as well the options there if you want to use it great if not that s fine. Too now forth. We have another investing app. That s been gaining a lot of popularity.
Lately and you ve probably heard me talking about this before on my channel. And that would be wiebel and it might just be me. But every time i say we pull it kind of reminds me of wheedle you know another pokemons wheedle. It sounds familiar like wheedle we bowl weedle.
We ve anyway i ll stop now when it comes to this weeble is very similar to robin hood in the sense that they allow commission free stock trading. So really on the surface. They re very much alike. Plus.
Both of them give you a free stock. When you sign up and fund your account. Which link below to that in the description. If you guys want a free stock.
But i would say where we bowl really pulls ahead and separates themself from robin hood. It s within their stock analysis and charts. I would say. Robin hood is really great for beginning.
Investors who really just want the basics of buy and sell stock trading. But once you get more advanced. I would say we both just offers you so much more in terms of their analytics. Like i ll admit it took me a little while to get accustomed to the app and to figure out how it works.
There s a bit of a learning curve and even for me. It s a bit advanced. But we build uh significantly more information when it comes to charts and screeners and earnings and information and everything else that goes along with that and even though i do not de trade stocks. I ve been told by other people who do that we will process as their stock trades.
A little bit faster than robin hood. Which could be an advantage for people who are quickly buying and selling all day. So just take that for what it s worth no. I would say if there s anything negative that i would feel about this apathy.
The only downside that i see is that the app is a bit complicated to use. It s a little bit confusing. And it took me some time to get used to it. But overall for a free stock trading app for someone who wants to get a little bit more advanced into things i would recommend it but otherwise besides all of this.
I am tempted to basically call weeble pretty much a robin hood. That s a little bit more complicated to use that offers you a little bit more information for people that are a little bit more advanced than just the beginner stages of investing and if you guys know me you know i love getting just free stuff. And when it comes to getting free stuff. Wiebel is offering a promotion where if you open an account and you fund.
It with 100 you will get a free stock worth anywhere from. 8 all the way to 1000. So the link to that is in the description if you want to just go. It s very lease to get like 8 worth on 100 funding on your money so anyway.
That s up to you if you want to do that. But i always like free stuff. So if you guys want that link below in the description and fit finally we have one of my favorites investing apps out there and this would be the one that i would recommend to probably most people to most investors and probably the vast majority people out there would just like to use this and that would be fidelity. Now.
The reason. I like this one. So much is that their app. Allows you to invest with zero minimums with zero fees into many of their completely free index funds.
So everything really within that context within this app is entirely free now we need to mention this this is not the place to go if you want to buy and sell individual stocks because they will charge you a four dollar and 95 cent commission per trade. So don t ever go to fidelity to buy and sell stocks. When you could do that with emma. One finance.
Robin hood or we. Bowl entirely for. Free and then you could save the 495 to go and spend that on basically anything else is a better use of your money than a five dollar trading fee but on the other hand if you re looking to invest in index funds entirely for free with no management. Nothing.
It s all free that is what i would recommend to most people like fidelity would pretty much be my number. One choice for anyone who has the self control and discipline just to automatically invest a certain amount of money every single month into their completely free index funds or to open up. A roth ira and just do the exact same thing with it. The fact that it s completely free with no minimums on many of their completely free index funds makes them by far the cheapest option out there even if it s only saving you one dollar a month compared to acorns we got to admit that one dollar a month adds up because after a year.
That that s basically a piece of avocado toast. Now again just to reiterate. Some of the downsides here. They re a horrible place to go and buy and sell individual stocks do not do that that s going to cost you way too much and they re also a horrible place in terms of automatically investing for you when you can compare them to for instance some like acorns or emmalin finance.
But again if you have the discipline and the self control to invest automatically on your own. Then when it comes to this by far they are the cheapest option out there. So with that said those are my top five favorite investing apps. And i will link all the information down below in the description.
And if you guys are interested just let me know down below in the description. But i can do a top five worst investment apps. Out there in my own opinion not financial advice of course for entertainment purposes. Only.
But if you guys are interested in seeing that just let me know down below in the description. So with that said. You guys thank you so. Much for watching.
I really appreciate it made at the very end you haven t already subscribed yet hit subscribe and also if you wouldn t mind hitting the notification bell. I ve never really talked about this that much but i ve noticed it does make a difference in terms of the youtube algorithm. If you hit the notification. Bell and then click on the video shortly after i post.
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