Over the past week I've sifted through dozens of online brokerage firms to find the top 3 overall firms to invest your money through. In this video I cover some of the best stock brokers in the United States. If you live outside of the United States, please let me know which stock broker you would recommend for people in your country. I get so many questions about the best stock brokers so hopefully this video will be helpful! Thanks so much for watching and supporting this channel! I can't believe we are almost at 2,500 subscribers!
Alright. The number one broker, and this one is by far the winner for 2017, and I can already sense 2018, we’re looking at the robinhood app. And I have a feeling you’ve heard of this broker, but if you haven’t this is gonna change the way you invest.The robinhood app charges zero dollar transaction fees. I didn’t mispronounce that. They literally don’t charge anything for their services and that is what entirely sets them apart from the rest of the online brokers. Now granted, they don’t have the best research platform, and they certainly don’t have all the options like TD Ameritrade and fidelity, but you just can’t beat zero dollar transaction fees. Especially when you’re a beginner, you’re gonna save a lot of money as a percentage of your portfolio if you use the robinhood app. If you're thinking this is too good to be true, well… it’s not because robinhood is a legitimate broker, they are a member of the financial industry regulatory authority and they’re beginning to make a national presence, this is a very up and coming brokerage firm. I would highly suggest at least trying them out, there’s nothing to lose, there’s no fees to sign up, and there’s not even an account minimum to open your account. If you’re wondering how they make money, well, they barely make any, but they are covered by the securities investor protection corporation and they actually make money off of interest from unused cash in customer accounts and they also upsell some services that they do charge for but are not necessary for the average investor. The robinhood app is something that I wish I had when I first started investing because I started with Etrade and I was paying $10 per transaction, and when you’re 11 years old how many stocks are you gonna buy? one ? two? I only had birthday money to use when I first started investing and I will admit that those expensive trades with etrade cost me a fortune in proportion to the size of my overall portfolio which was something like $100 when I first started. Let me know in the comments section which broker you would place at the number one spot, and if you’re not in the United States it would be great if you could provide some insight to some of the best brokers in your country. I know we have a lot of viewers from canada and the UK so let me know because I don’t have any experience with foreign brokers for obvious reasons.
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