We all want to grow our savings. Any money we set aside should, ideally, be making us more money. With savvy investments in stocks or other markets could get us there. However, few people have time to master the art of investing stocks. If you are fortunate enough to have a solid understanding of the stock market, you might be able to squeeze it into your busy day.
The good news is that with the technology we have today, you don't need a particularly strong education in the stock market - or economics at all - in order to master trading. Over the past few years, we have seen the rise of the robo advisor, which uses algorithms to make better decisions than a human could.
If you want to get started in the stock market, check out this investing in stocks guide by Investor Junkie. It gives you all the information you need to start on your way to a highly successful portfolio.
Once you have the basic information, you will want to use one of these 5 AI companies to get the most value from your money.
Betterment is considered one of the best options for new investors. It requires no initial minimum deposit and you can build your portfolio with as little as $100 per month. They also have the lowest fees in the industry.
Their AI is excellent as well. The robo advisor will come up with the best stocks for you to invest in, and continue to make decisions according to your instructions. You can even give it an idea of your values and morals and it will find investments that are socially responsible.
Fidelity is one of the largest financial firms in the world, and are another excellent choice as a broker when investing in stocks. Because they have such a wide reach, you can get everything you need when investing with Fidelity. Not only is their robo advisor ideal, but you are guaranteed expert human financial advisors as well.
They take low commissions and provide great customer service. Fidelity is a good option for those with a bit more experience, looking to kick their investment strategies up a notch.
E*TRADE are not quite as comprehensive in their services as Betterment or Fidelity, but they have a great robo advisor and they do have the advantage of much lower commissions. They offer $6.95 per trade and $4.95 per trade once you've hit 30 trades in a quarter.
4. Merrill Edge
Merrill Edge is yet another good option for beginners. Like E*TRADE, they offer commissions of $6.95 per trade. And, while E*TRADE has a minimum investment of $500, , Merrill Edge has no minimum. They are also worthwhile checking out for their promotion of up to $600 when you start investing. Their robo advisor is perfectly good as well, and will perform as well as any other.
Finally, we must make mention of Ameritrade. Another service that requires no minimum investment, Ameritrade also lets you trade free for the first 60 days. Again, their robo advisor is as good as any other, and will make you a master investor in no time.