After this week’s stock market drama, you might be looking at trading programs that are not Robinhood. The good news is that there are many good options to choose from. For novice traders and experienced stock market gurus, the beauty of modern technology is here to provide a bunch of different programs to suit your needs. Here are 5 non-Robinhood trading programs that can do the job.
TD Ameritrade
TD Ameritrade has excellent reviews across the board, from financial blogs and publications across the map. It is known for having excellent tools and research to make the best deal possible. With TD Ameritrade you can manage various types of investments with separate programs for different trading styles, both beginners and experts. It also offers $ 0 transactions, which is an important feature for people who want to start a new investment app or switch from their existing platform. Another added bonus, TD Ameritrade offers excellent customer support.
Acorns
Acorns is not a free investment program. It costs $ 1- $ 5 per month, depending on the services you want. This is a financial app dedicated to more than trading, which is great if you are looking for something to help with overall financial health and education. This will help you grow your money with investments, accounts receivable and retirement. It’s very easy to use the Acorns app, which’s a bonus if you do not use technology. If you want, you can just set it up and forget it, ideal for those of us who are too busy dealing with trades every day. With an Acorns feature called Round-Ups, you can link a credit or debit card to your account, and the app rounds off card purchases to the next dollar and invests the difference in an ETF portfolio. This means an automatic saving every time you spend without thinking. The app selects your portfolio based on a quick overview of your needs and financial situation and the estimated time to retirement, which becomes more conservative as you get older. For the record, this is the investment program I personally use.
Faithfulness
Fidelity is an excellent option as it is good for beginners and more advanced investors. It is inexpensive and provides excellent research information. The focus is on retirement education, which will benefit users in the long run. It also offers a fractional investment and allows users to customize alerts and feeds. The mobile app has a super easy user experience, which is always nice to have. Fidelity is also widely regarded by judges as an A + option. Fidelity is a trusted company backed by an old, trusted name so you can feel safe with this decision.
SoFi
Like acorns, SoFi offers a range of services besides investment and equities. Clients using SoFi have access to assistance with refinancing student loans, mortgage loans, personal loans, credit cards and banking services. This is an excellent app for people who want to provide all their financial needs in one easy stop. If you are looking for something that you can invest in advanced, there are other programs, but for beginners who have other financial needs, SoFI is an excellent option.
WeBull
WeBull is a free app, and the real benefit of this option is no account minimum or commission fee. However, this app offers fewer options than more traditional trading apps. WeBull allows 24/7 trading of cryptocurrencies, trading with extended hours, the ability to set up an IRA. The app offers many features that are ideal for active traders. WeBull is often compared to Robinhood, as the programs are similar in their business strategies. It is important to note that WeBull also participated in the purchase of certain shares this week, although they received much less pressure on the decision than Robinhood. Keep this in mind if you want to make the switch.