6 investment platforms for beginners with little money – Grow This Wealth (2024)

1. Robinhood
2. Stash
3. Acorns
4. Betterment
5. Wealthfront
6. M1 Finance

Investing your money is a great way to grow your wealth over time, but it can be daunting if you’re new to the game. Luckily, there are now a number of investment platforms that make it easy for beginners to get started, even if they don’t have a lot of money to invest. In this article, we’ll take a closer look at six investment platforms that are designed specifically for people who are new to investing.

Robinhood

1. Robinhood is a popular investment platform that allows you to buy and sell stocks and other securities, including options and cryptocurrency. It’s a great choice for beginners because it’s free to use and has a user-friendly app that makes it easy to invest on the go. One of the standout features of Robinhood is that it doesn’t charge any commission fees, so you can invest in as many stocks as you like without having to worry about paying fees. However, it’s worth noting that Robinhood does make money by selling its users’ order flow information to high-frequency trading firms, so it’s important to be aware of this if you’re concerned about privacy.

Stash

2. Stash is another investment platform that’s designed for beginners. It’s a robo-advisor, which means that it uses algorithms to help you invest your money based on your goals and risk tolerance. You can choose from a range of investment portfolios, including ones focused on socially responsible investing, and Stash will automatically rebalance your portfolio to keep you on track. One of the great things about Stash is that you can start investing with just $5, so it’s a low-cost way to get started with investing.

Acorns

3. Acorns is another robo-advisor that’s designed for beginners. It’s unique because it invests your spare change for you. Every time you make a purchase, the app rounds up to the nearest dollar and invests the difference into a portfolio of ETFs. This is a great way to start investing without having to make a big commitment of cash, and it’s also a great way to build your savings over time. Acorns has a range of portfolios to choose from, and it also offers other features like automatic rebalancing and dividend reinvesting.

Betterment

4. Betterment is one of the largest robo-advisors in the US, and it’s a great choice for beginners who want a more hands-off approach to investing. It offers a range of investment portfolios to choose from, and it also offers a feature called Smart Deposit that automatically invests any money you deposit into your account. Betterment also offers personalized advice and resources to help you reach your financial goals, and it has a user-friendly app that makes it easy to track your progress.

Wealthfront

5. Wealthfront is another popular robo-advisor that’s designed for beginners. It offers a range of investment portfolios to choose from, and it also offers features like automatic rebalancing and tax-loss harvesting. One of the standout features of Wealthfront is its low fees – you can start investing with no account minimum, and the company only charges a 0.25% management fee. Wealthfront also offers a feature called Path, which is a personalized financial plan that helps you reach your financial goals.

M1 Finance

6. M1 Finance is a hybrid investment platform that combines the best of robo-advisors with the ability to pick your own stocks and ETFs. It’s a great choice for beginners who want more control over their investments, but who still want the convenience of an automated platform. M1 Finance offers a range of pre-built portfolios to choose from, and you can also create your own custom portfolios with the stocks and ETFs of your choice. One of the great things about M1 Finance is that it’s completely free to use, so you can invest without having to worry about paying fees or commissions. Additionally, M1 Finance has a user-friendly interface that makes it easy to monitor your investments and make changes as needed

These six investment platforms are all great choices for beginners who want to start investing, even if they don’t have a lot of money to invest. Whether you’re looking for a robo-advisor to help you invest automatically, or you want more control over your investments, there’s sure to be a platform that’s right for you. Just be sure to do your research, read the fine print, and make informed decisions based on your financial goals and risk tolerance.

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Good luck on your investing journey!