Best in Class Online Trading Platforms

Not everyone needs the same trading platform, and after a comprehensive review of over a dozen trading platforms, we have assembled our 2021 Best in Class Trading Platforms for three categories.  So if you are a beginning investor, one looking at retirement savings, or you want advanced features, we have the best option suited for you.

Best Low-Cost(but high value) Beginner Investing Platform

Public– If you are new to investing, this is a great place to start.  This platform has commission-free trades and fractional shares(Acorn still does not offer fractionals), which they call “slices” as well.  Public focuses on beginners with their app is available for both IOS and Android, signup is easy, and you can open an account, money deposited, and available for trading in under 20 minutes (most apps require days).  Automatic dividend reinvestment is available, and they offer 50 investment themes, such as cannabis, American-made, and self-driving car stocks, to quickly research and invest in related companies.  When purchasing whole shares, market, limit, and stop orders are available to automate trading.  No fees for trades or monthly subscriptions, there is no minimum investment, and they have a social space to learn about different companies from professional financial advisors and celebrities.

Best Low-Cost Retirement Investing Platform

M1 Finance is a low-cost, advanced investing option focused on long-term retirement investing.  M1 has fractional share purchases and free trading and offers fee-free retirement accounts with a minimum $500 deposit.  There is a 401k rollover concierge service if you have a 401k or IRA needing that.  M1 also has fractional share dividend reinvestment.  M1 has an automatic portfolio rebalancing to counteract portfolio drift(when one company in your portfolio starts to become the lion’s share of the total and is less diversified).  They have expertly built portfolios called “Pies” to follow a desired goal (growth, low risk) or mimic either an index or a favorite fund manager making things quick and easy by taking the work out of planning a diversified portfolio intended to reach a specific personal goal.  M1 Finance is perfect for anyone who wants to transfer over their 401(k) or invest simply with a long-term goal using the various tools it offers but not for day traders.

Best Advanced Trading Platform (advanced and day traders)

Interactive Brokers is the platform for sophisticated investors and day traders with wealth tools to track global investing in equities, options, and futures with 125 markets in 31 countries, using 22 currencies, 24 hours a day.  They have commission-free equity trades and also offer fractional shares for purchase and dividend reinvestment. Their desktop Traders Workstation (TWS) and mobile app have nearly any tool you will need. Their Impact Dashboard and other Environmental, Social, and Governance (ESG) tools help clients invest globally with their moral values in mind.  They have a smart order routing system that is best in class.  M1 also has a mutual fund replicator service that finds lower-cost exchange-traded funds (ETFs) that are identical to more expensive mutual funds.  M1 may be hard to get up and running with a long signing process, but superior tools and service once complete.

5 Tools to Help You Manage Your Personal Budget

Money management is one of the bugging questions in the mind of man. It needs wisdom and many intentional strategies to manage the little or the much that one has. One of the best strategies you can lay is getting a tool that will help you manage your personal Budget. Failure to which, you will end up with many things you did not need, buyer’s remorse, and probably broke.

For this reason, here is a compilation of some great tools to help you manage your personal Budget.

Mint

Mint is the most common of budget planning tools. It has the following features

  •       You can install it in your bank and credit bank
  •       You can set up alerts for  deadlines and low balances
  •       Tracks spending
  •       Shows your expenditure on a dashboard

 

Mint is a perfect software for time consciousness. Its time alert feature enables one to avoid unnecessary fines. It is a free app and can be downloaded on Android or iOS and even a desktop.

Ynab

YNAB is initial for you need a budget. It has features like a spreadsheet. Unlike Mint, YNAB is a paid service. They have a free trial, though. Here are some of the things that YNAB will assist you with:

  •   It links your bank or credit card accounts
  •   Tracks your transactions automatically
  •   You can set financial goals
  •   Assist with your savings contribution
  •   Tailor your expenditure into categories

 

 Quicken

Quicken has been around for years, and of all the budgeting tools, it is the most established. It has the following features:

  •       You can set saving goals
  •       You can track your debt with it
  •       It has investment coaching and tracks the investments
  •       You can track your bills and see how much money you are spending on each utility

It is available on Windows, Ios, Android and even MacOS

Every dollar

Every dollar is a zero-based budgeting tool, which means that your expenses equal your income. It is most suitable for families. It has both a free and a premium version.

It has the following features:

  •       You can customize it
  •       One can access online financial courses
  •       You can track your spending with it for better planning of a purchase
  •       With the premium version, one can link their accounts

It is available on Ios and Android and desktop

Pocket Guard

A pocket guard is an excellent tool for college students. It is a free tool that tracks ones spending. Here are some of its great features:

  •       You can link all your accounts
  •       You can customize all spending alerts
  •       Assist in organizing expenses

It is available on iOS, Android, and desktop/laptops computers

 

Conclusion

Finally, there are so many tools to choose from. Find one that’s best suitable for you. After you have settled for a device, find out what budget best works for you and stick to that. If you do so, you will be in better control of your money and get the best out of it. Tools will help you make better choices and restrain yourself from making bad decisions.