- Account Fees 0.40% - 0.50% Management Fee
- Minimum Deposit $0
- Asset Types Bonds (both government and corporate), Real Estate, ETFs, Gold, Mutual Funds, and Currencies
WealthRocket is reader-supported. When you buy through links on the website, we may earn an affiliate commission. Learn more
That’s a great question and we thank you for asking it. When you invest with an online brokerage, you are essentially letting them control your investments. This isn’t a bad thing. When you open an account at a trading platform, you get to sit back and watch your money grow like Alice when she eats that mushroom. Luckily, you don’t have to eat anything weird. You just have to sign up and see what your online broker offers.
Online investing sites provide a way for you to play the stock market safely without worrying about where your money is going. It’s not rocket science, although there are algorithms involved. It’s more like letting your funds grow without having to hustle. Or, seeing your mutual fund werk and create a long-term savings plan that you can fall back on.
Technically, you don’t. You don’t have to do anything, especially if you have no intention of retiring. However, as we enter the zillionth day of the pandemic, it’s becoming harder and harder to plan for the future. With online investing you can take a little money and watch it turn into a lot of money.
If you’re worried that investing will turn you into the Wolf of Wall Street, don’t be. That guy sucks and no DiCaprio/Scorsese collab can paint that man in a positive light. We love the movie but we do not condone Wolfie’s actions and behavior. If you want to throw piles of cash and fresh lobsters at Coach Taylor from the deck of your yacht, that’s on you. We suggest you don’t do that and instead try one the commission-free trading platforms that we adore, like Wealthsimple.
When you use one of the best online investing sites that we recommend, you do not run the risk of turning into a monster. The only risks you’ll encounter will be with your options trades and those are risks you should be taking.
You will not become a millionaire overnight. In fact, most of us won’t become millionaires at all. But, with Wealth Rocket in your corner, you could see yourself set up for a rainy day—or every rainy day for the rest of your life.
When our parents were our age, they had jobs, they owned homes, they had kids, and they had 401Ks and RRSPs. They did not have the same amount of student debt and used their yearly bonuses to buy us new bikes. Now, young Americans and Canadians are faced with what seems like insurmountable credit card debt and rising rent costs. There is still hope! We can help you navigate the world of investing so that you can pay rent, pay off your credit card, and accumulate enough wealth to eventually retire.
*No disrespect to our parents’ generation. We love you, but we’re going to out-invest you to ensure that our economic future is intact. Most of us work in the gig economy and are doing our best to save for a better tomorrow (while also saving the planet). It’s taxing sometimes, but we’ll manage.
Investing doesn’t require major capital. You can invest a little or you can invest a lot and see incredible results. The best online investment sites for beginners are easy to use, mobile-friendly, and let you be as hands-on or hands-off as you want. You’re already stuck at home for most of the day, might as well take out your phone and invest. Your phone is probably already out. You’re probably looking at our site on it now.
Stick with Wealth Rocket and we’ll make an investor of you yet!