I’ve been using Robinhood for a while, but I’m thinking of slowing down and going with safer, long-term investments. I recently tried Acorns, but found out it has a monthly fee. It’s not a big deal, but I’ve read some reviews saying there are better options out there. Any advice on good platforms for hands-off investing?
Check out Fidelity or Schwab.
Franklin said:
Check out Fidelity or Schwab.
Add Vanguard to that list too.
Franklin said:
Check out Fidelity or Schwab.
Thanks, I’ll definitely look into them!
You can actually use Robinhood to dollar-cost average (DCA) into low-cost ETFs like VOO or VTI. It’s a good hands-off method and reduces risk over time. I personally DCA into a few ETFs and make small adjustments if needed.
Honestly, just use any commission-free platform and buy VOO.
Winter said:
Honestly, just use any commission-free platform and buy VOO.
Thanks, I’ll look into that.
Winter said:
Honestly, just use any commission-free platform and buy VOO.
Thanks, I’ll look into that.
VOO through Vanguard might be your best bet because there are no trading fees on Vanguard’s own ETFs. If you buy Vanguard ETFs through other platforms like Fidelity, they might charge a small trading fee. Each platform has its own fee structure, so sticking with Vanguard for Vanguard ETFs, Schwab for Schwab ETFs, etc., can save you some money.
@Jael
Thanks so much for the detailed response! This is really helpful!
Regan said:
@Jael
Thanks so much for the detailed response! This is really helpful!
Also, consider whether the platform supports partial share purchases. Some platforms allow you to buy small portions of shares, which can be helpful if you want to invest in small amounts regularly.
Honestly, Robinhood works fine for long-term investing too. Unless you’re looking for high-speed trades or detailed data, Robinhood’s UI is great for just buying and holding ETFs.
Farley said:
Honestly, Robinhood works fine for long-term investing too. Unless you’re looking for high-speed trades or detailed data, Robinhood’s UI is great for just buying and holding ETFs.
I’ve been getting into mid-term trades with Robinhood, and one day I’d like to try day trading, but I feel like I have a lot to learn first. Thanks for the advice!
I like E*Trade. It’s easy to use, and they offer partial shares if you set up auto-investing with at least $25 per month.
Wynn said:
I like E*Trade. It’s easy to use, and they offer partial shares if you set up auto-investing with at least $25 per month.
I’ve seen the commercials but never checked them out. Thanks, I’ll take a look.
Webull is offering 2% back on your portfolio if you stay with them for two years. Could be worth considering.
Look up this forum for Fidelity, Vanguard, Schwab, and Wealthfront advice. If I were to pay for one, I’d go with Wealthfront.
Jaden said:
Look up this forum for Fidelity, Vanguard, Schwab, and Wealthfront advice. If I were to pay for one, I’d go with Wealthfront.
Thanks! I’ll definitely check those out.
Robinhood is fine for long- and short-term investing. It’s more about what you invest in. Low-cost index funds like VTI, VXUS, or BND are great options.
Vesper said:
Robinhood is fine for long- and short-term investing. It’s more about what you invest in. Low-cost index funds like VTI, VXUS, or BND are great options.
I already have a couple of shares in some leveraged ETFs, but I’ll give some of those safer funds a try too.
I’ve been doing long-term investing on Robinhood too. It’s more about mindset than the app you use. I did recently open a Schwab account to try options though.