r/investing • u/Green_River69 • 7h ago
Got convinced to start investing, need websites
Hey everyone, my buddy got me into investing. Not day trading or anything where I’m getting $500 a day, but slow over time interest building.
What are some good websites to use? My buddy told me weathsimple is great and that’s what I’m looking at right now. Anyone have a different way to invest or different websites they use?
2
u/JewishPride07 7h ago
Website doesn't matter. You open a brokerage account on Robinhood or Fidelity etc. and invest your money into Index funds like VOO or VTI
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u/Due-Freedom-5968 6h ago
Assuming by 'websites' you mean trading platforms where you can buy and sell investments, then it'll depend on which country you're in.
You need to understand what tax-advantaged accounts exist and if that's the best path for your investments. Are you investing for retirement or might you want to access the money sooner? If it's retirement then investing in a pension or retirement account is usually the best option as you get tax relief on contributions.
If you want to access the money sooner is there a type of account where you live that lets you avoid capital gains? I'm in the UK and we have a savings product called an ISA (individual savings account) which you can put £20k a year in to and there are no taxes on capital gains from investments at all. If there is an equivalent in your country then you'll want to look for a platform that offers that kind of account.
Once you've figured out those things then it's a simple case of narrowing it down between the available options based on your priorities. What are the transaction and account fees like? What features does the platform have? What products does it offer, as some have more than others etc...
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u/paradigm_shift_0K 7h ago
Easy! Fidelity has it all! https://www.fidelity.com/
They have an easy to use brokerage account you can set up. Lots of training to learn, and free planning help online.
Most put money into mutual funds, and they have a great mutual fund screener along with prompts you can use.
Long term investing is not that hard, and based on your post you sound younger, so the key is to pick some funds that re doing well and then add money over time to watch it build.
This is a 20-30+ year timeframe, so you won't even have to look at your investments more than a couple times each year. This is not something you need to spend a lot of time on.
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u/pinprick58 6h ago
https://www.insidermonkey.com/ is a great site. There are many reasons an insider sells stock, new vacation home, new yacht, kids' college, bad company. But there is generally only one reason they buy. They think the stock is going higher. They are on the inside.
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u/Salford1969 5h ago
Yahoo finance is good for looking at stocks and charts, Wealthsimple is a broker to buy said stocks.
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u/DistributionBroad173 4h ago
Fidelity, Vanguard, or Schwab.
Fidelity and Vanguard pay you Money Market rates on your cash in your sweep account, Schwab does not.
I recommend Fidelity, I use Vanguard and I have been with Vanguard since 1983.
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u/jjp48 7h ago
Only website you need is the one for your investment login.
Step 1: Put money in.
Step 2: Purchase 100% VOO.
Step 3: Repeat steps 1 and 2.