Best Platforms for Beginner Investors: Where to Start Investing as a Newbie

Best Platforms for Beginner Investors

Introduction

Investing can be a great way to grow your wealth over time, but for beginners, it can be overwhelming to know where to start. Thankfully, there are several platforms that cater specifically to beginner investors, making it easier to dip your toes into the world of investing. Here are some of the best platforms for beginner investors.

1. Robinhood

Robinhood is a popular commission-free trading platform that is perfect for beginners. It offers a user-friendly interface and allows you to buy and sell stocks, ETFs, options, and cryptocurrencies without paying any fees. Robinhood also offers educational resources to help beginners learn more about investing.

Steps to get started with Robinhood:

1. Download the Robinhood app on your smartphone.
2. Create an account and link your bank account.
3. Start buying and selling stocks, ETFs, options, and cryptocurrencies.

2. Acorns

Acorns is a micro-investing platform that is perfect for beginners who want to start investing with small amounts of money. Acorns automatically invests your spare change by rounding up your purchases to the nearest dollar and investing the difference. This makes it easy for beginners to start investing without having to think about it.

Steps to get started with Acorns:

1. Download the Acorns app on your smartphone.
2. Create an account and link your bank account.
3. Start investing your spare change and watch your portfolio grow over time.

3. Betterment

Betterment is a robo-advisor platform that is perfect for beginners who want a hands-off approach to investing. Betterment creates a personalized investment portfolio for you based on your goals and risk tolerance and automatically rebalances your portfolio to keep it in line with your goals. Betterment also offers low fees and a user-friendly interface.

Steps to get started with Betterment:

1. Create an account on the Betterment website.
2. Answer a few questions about your goals and risk tolerance.
3. Deposit money into your Betterment account and let the robo-advisor do the rest.

Conclusion

These are just a few of the best platforms for beginner investors. Whether you prefer a DIY approach with Robinhood, a hands-off approach with Acorns, or a personalized approach with Betterment, there is a platform out there that is perfect for you. Remember to do your own research and choose a platform that aligns with your investment goals and risk tolerance.