Whether you have $10 or $1000, RobinHood is the best place to start investing in stocks for beginners. I started using RobinHood in December of 2018, and I still use it. RobinHood has always been really easy to invest with. RobinHood is highly recommended for beginners because there are no commission fees, there are less confusing features than other other brokerages, and there is an abundance of stocks to choose from.
Due to there being no commission fees, you can gain valuable experience of the stock market without the worry of losing money on the fees. The only catch is that you have a limit to how much you can invest. Therefore, you cant day trade. In spite of that, RobinHood is is still great for beginners!
Set Up RobinHood
Download the Robinhood app
Most of the trading is done primarily on the Robinhood app. It’s available on the App Store for iPhones and the Google Play Store for Android phones. You can download it here, if you download and setup Robinhood through this link, you will receive a random free stock if you do so!
Get Familiar with Robinhood
Once you finish signing up with your information and connect your bank account you can now start researching and analyzing companies that you want to invest in. You should look for cheap stocks that are heading in an upwards pattern (Bullish Trend). You can gain access to your Robinhood settings by tapping on the logo. After doing your research on stocks, if you find any stocks that interest you, you can go to that stock and there will be an option to buy a share.
After you finish setting up your Robinhood account and added funds to your account, you can start investing! Of course, do some research on the companies before buying a share. I would invest in bluechip companies to begin, those are pretty much big companies that have been around for a while and are not going anywhere anytime soon. Some examples of these are Apple, Disney, Wal-mart and such.
If you have $100 or less, look up some stocks that interest you in that price range. Here are three that are worth a buy:
- Verizon – $89.00
- Axon – $42.00
- Veeva Systems – $84.00
You can start by looking at these companies and doing some research or another one that you find interesting.
Hopefully you took some notes! Good luck, DM me on instagram if you have any questions @venture2success.