The Beginner’s Stock Market Toolbox | 5AM Finance

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With a degree in finance, a bookmark to Investopedia, and an abundance of research on stock trading resources, I took my qualifications to Robinhood, a free stock trading app. Trading is free, however, Robinhood does collect interest off of customers’ cash balances. As of March 2018, Robinhood is limited to only mobile platforms, while a browser-friendly version of the app is under development. Robinhood  launched a browser-friendly version of their popular mobile platform as of March 28th, 2018. 

Time to do research and pick stocks.

 

Before we move forward, I would like for you to know that this article is meant to introduce the reader to free trading apps and programs available on the public domain. I am not giving financial advice.

 

While it is tempting to download the app and start doing some light trading, I suggest you become versed in the types of companies, the volatility, and the seasonal swings. Profits can be made by staying ahead of the curve. This is why it's important to stay up to date on current market conditions. Investing.com is a free app that will send you alerts on important market news.

 

Finviz.com has a free stock screener with great ways to narrow down the S&P 500 and Dow Jones Index. Finviz helps in narrowing down companies that you might want to invest in by using descriptive, fundamental and technical analysis. Once you’ve made your picks, it’s time to refine the watchlist. Some investors call this making a universe. 

TD Ameritrade is an easy to use trading platform and making an account is free, however, there is a $6.95 commission fee on stock trades. There are three reasons to bring up TD to consideration, even though this article is focusing on free resources:

> They offer a free software called thinkorswim, which offers tools and educational services for online investing.
> They offer 5,000 more stocks than Robinhood
> They offer ETF and Index Fund trading capabilities

 

Tools and resources often improve if you’re willing to pay. That being said, it's easier to start speculating for free now more than ever.

 

If you have any thoughts on the article or suggestions for future articles, shoot us an email at moderndope@gmail.com.


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