Which investment app is best recommended for incrementally contributing to ETFs?
Asked 3 years ago
I want to slowly but surely build up my investment account, are there any good apps that I can use to put in monthly contributions to ETFs?
Andia Rispah Igobwa
Tuesday, November 02, 2021
TD Ameritrade: The beauty of this app is that beginners and professionals can use it. It doesn't have a minimum balance or commission fees.
- Robinhood: Trading for stocks, ETFs, and cryptocurrency are all free. Also, it has an easy-to-use interface.
- E*Trade: With this app, you'll not pay any commission. It's also the best for beginners.
- Acorns: This app is excellent because it gives recommendations based on your preferences. The only catch is that there are some fees to pay. If you want investment, retirement, and checking features, the charge is $3 monthly.
- Webull: If you're looking for extended trading hours commission-free, this could be an excellent option.
Andrew Moran
Wednesday, November 03, 2021
First, for an investment application, there are many zero-commission options to choose from.
Robinhood is generally the most popular for new investors. But you also have TD Ameritrade, E*Trade, Webull, and others.
Second, when it comes to recommended ETFs, or exchange-traded funds, you have thousands to choose from for your portfolio.
If you are beginning to build your investment account, you would be better off buying ETFs that mirror the composite of performance of the leading benchmark indexes.
For example, the SPDR S&P 500 ETF Trust (SPY) and the Vanguard 500 Index Fund ETF (VOO) mirror the S&P 500.
You could also purchase ETFs that offer you a monthly income, such as the Global X SuperDividend ETF (SDIV) and the Invesco S&P 500 High Dividend Low Volatility ETF (SPHD).
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