10 Best Places To Buy Stocks For Beginners In August- September 2022
The month is August of 2022, and you are facing hyperinflation at a whooping rate of 8.6%. The monthly income you are earning is now not enough to fulfill your different needs, and you are probably wondering what you should do to have enough money to pay for fancy dinings and movie tickets? Well, you are in the right place because we are here to discuss the ten best places to buy stock for beginners in August-September 2022.
What are stocks?
Stocks (also Capital Stock) comprise the share of which ownership of a corporation or company is divided. A single share of the stock means fractional ownership of the corporation in proportion to the total number of shares. This entitles the shareholder to that fraction of the company’s earnings.
Why buy stocks?
The answer is simple. As buying stocks of a certain company makes you a fractional owner of the company/ corporation, it also gives you an opportunity to earn as the company/ corporation grows. The company’s growth depends upon various factors ( like leadership, financial policies, etc.). So if you are wondering if you will earn hundreds of thousands of dollars in a week or two, then you are wrong and probably hasty. Because investing in a company and buying stocks of a certain corporation, and the wait for the company to grow is for the person with a lot of patience. So why buy stocks? The answer is simple. It lasts for a long period of time, say 5 to 15 years.
Risk factors
As your stocks can give you a hefty 400% increase in their value in 4 to 5 years, it can also take away the value of every stock you bought. The prices of stocks can go up and down. As many chances of it going sky high, it can also dive deep into the ocean and splash water on your future dreams. There is no guarantee that the company will grow in the next few years, and you will cash in your stocks when you think the time is right.
How to buy stocks and sell stocks?
A person can buy or sell stocks
- A direct stock plan
- A dividend reinvested plan
- A discount or full-service broker
- A stock fund
10 best places to buy stocks for beginners in August- September 2022
Merrill Edge: A Bank Of America Company
On our priority list, Merrill Edge is the number site for you guys to buy stocks. Merrill Edge is an electronic trading platform provided by BofA security. It is part of Bank Of America’ Retail banking division and was launched on June 21, 2010
Why Merrill? Well, with their motto of confidence, convenience, and control, Merrill provides the connected experiences, investment insights, and relationship rewards to empower your financial future.
If you are already a customer of Bank of America, Merrill Edge is an excellent choice for long-term investors. Their preferred reward programs allow their customers to enjoy discounts and perks that increase with your balance.
According to reports, Merrill edge is ranked the no.1 broker for sustainable investing, which is why it is first on our priority list.
Fidelity Investments
Founded in 1946 and managing the assets of 4.5 trillion USD Fidelity Investments comes at no.2 on our list. It is the best site for beginners new to buying and selling stocks.
Fidelity helps the investors to give their money the potential to grow. It provides you the flexibility and control over your investments while providing easy access to your cash with no fees and minimums.
One of the best things about investing with fidelity is it fits with people with retirement plans who can save for retirement with potential tax-free growth on your investments.
Ameritrade
If you are passionate about investing, then Ameritrade is the right place. From experienced associates to industry-leading education and technology, Ameritrade provides the knowledge you need to become an even more intelligent investor.
One of the best things about Ameritrade is that they offer commission-free trades. At Ameritrade, you can trade commission-free online and get access to all its platforms and products with no deposit minimums, trading minimums, or hidden fees.
Ameritrade gives access to stocks, bonds & CFDs, options, non-proprietary mutual funds, future, forex, commission-free ETFs*, and more to stay diversified and ready to take advantage of a wider range of opportunities
E*Trade
E-Trade financial corporation is a financial services company that offers an electronic trading platform to trade financial assets. The company receives revenue from interest income on margin balances, commissions for order execution, payment for order flow, and management services.
With an easy-to-use website and friendly guidance, there is no need to feel overwhelmed. Before you know it, you will feel right at home, investing confidently at E-Trade.
In just four simple steps, you can buy stocks of any corporation.
- Open an account
- Put money in
- Pick an investment
- Place your trade
E-Trade also offers commission-free services on stocks, options, and ETFs. Buyer has to pay $0.65 on options contract, $1.50 on future contracts, and $1.00 on bonds.
Interactive Brokers
Interactive Brokers LLC (I.B.) is an American multinational brokerage firm. It operates the most prominent electronic trading platform in the U.S. by several daily average revenue trades. The company brokers stocks option, futures, EFPs futures options, forex, bonds, and funds.
Interactive Brokers serves 25 different currencies to trade-in. Clients can select 25 currencies to serve as the base currency for their accounts. Your base currency determines the currency of translation for your statements and the currency used to determine margin requirements.
WeBull
WeBull financial LLC is a Chinese-owned stockbroker that features an electronic trading platform, accessible via mobile app and desktop computer, for the commission-free trading of stocks, exchange-traded funds, options, margins, and cryptocurrencies.
With WeBull, a customer can invest thousands of companies and fractional shares with as little as $5 using their tools and analytics to create their own financial portfolio.
WeBull provides intuitive and powerful advanced charts, multiple technical indicators, and premier level 2 Advance (Nasdaq TotalView) to help users analyze companies, trends and seize trading opportunities.
Is Webull Safe for beginners? The answer is yes. We bull a broker that can be recommended for beginners. So you need to sit back, buy the shares and stock of your choice and relax and wait for the price to double up.
WeBull also provides its customers to get access to its online video tutorial and also provides the latest information and knowledge to its customers. Hence, they know which stock is better for them at any given time.
Ally Invest
Ally Invest has competitive pricing, helpful trading tools, and an easy-to-use trading platform. With no account minimum, it is easy for beginners to get started, while active investors will appreciate Ally’s commission-free trades on eligible U.S. securities and low option contract fees.
Ally Invest is one of the purest examples of a discount brokerage. It offers a wide selection of resources to help investors of all experience levels make the most of their investments, including advanced charting tools and numerous calculators.
Ally Invest also takes pride in providing the best service possible. Their brokers or service team are available 24/7 to answer your investment and account. Their dedicated concierge team is present all the time to help with all things with wealth, plus your other Ally Invest and Ally Bank accounts, too.
Trade Station
Whether you are new to trading, new to TradeStation, or simply want to take greater advantage of powerful analysis and trading tools, you will find resources here to help you ramp up on your own time. TradeStation allows its investors to explore a wealth of resources and build its investor’s trading skills.
TradeStation offers an incredibly stable and reliable platform with 99.999% uptime. TradeStation’s platform has exceptional charting, technical analysis, backtesting, order entry, and trade automation technology. So in easy words, it is safe for you to invest your money with TradeStation and wear off your concerns.
Traders who are not brokerage clients can subscribe to use TradeStation tools: Non-professional traders pay $99 per month, while professional traders are charged $199 per month.
Funds are available for withdrawal after six business days. But TradeStation does not accept funding via cash, third-party checks, or money orders, so please include a copy of the remitter for the cashier’s checks.
ZacksTrade
On our list at no. 9 lands ZacksTrade; ZacksTrade is a subsidiary of Zacks Investment Research, a reputable investment research company founded in 1978. The platform is available to traders and investors in more than 200 countries worldwide, covering 91 stock exchanges in 19 countries.
The advantage of Zack Trade is that you are in control. Investors who invest through Zacks Trade have the tools it takes to make the most of their trading: competitive commission rates, no inactivity or maintenance fees, and access to platforms. ZacksTrade is built for self-directed traders but offers dedicated support when investors need it: responsive licensed reps and complimentary broker-assisted trades.
ZacksTrade provides a complete digital account opening for clients all over the world, and there is no minimum deposit.
ZackTrades offer many account types, which fall into two big categories:
- Accounts for individual traders and investors
- Accounts for institutions
As an individual trader or investor, you can choose from many account types. A few of them, like IRA accounts, are available only for U.S. clients.
Firstrade
At last, we have Firstrade, a stock brokerage firm, and broker-dealer. Firstrade has three platforms: a desktop platform, Option Wizard and Firstrade Navigator, and a highly rated mobile app for iOS and Android.
Firstrade is among the only few brokers that do not charge a per-contract fee for options trades.
But Firstrade has its flaws. Professional investors may be disappointed that Firstrade offers no forex, futures, or futures options trading to complement its rock-bottom pricing on the option to build and manage their portfolio with Firstreade.
Firstrade is best for:
- Beginning Investors
- Mutual fund Investors
- Option traders
- Native Chinese speakers
- International investors
Outcome
As mentioned earlier, the world’s inflation is probably at an all-time high. Many people with good jobs still find it difficult to afford their expenses. To have enough money to support yourselves, our families, your tuition fees, etc., we should think about the best future, and buying stocks of companies that are predicted to rise will help a lot of you people.
