How to Choose a Trusted Investment Platform
Investment platforms offer low-cost and straightforward access to shares and funds, including ISAs and Sipps. They can also help you open a pension to build up long-term wealth. But with many options available, how can you choose the best one for your needs?
To start with, consider what type of investing you want to do. The Investors Centre you plan to invest regularly with your spare change, or would you like to put aside lump sums into bigger investments? Once you know this, you can narrow down your options and find the right platform.
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How easy a trading app is to use is another important consideration. Some offer automation tools that can take care of calculations, corrections and distribution without any input from a human (and they may be less expensive than full-service brokerages). This feature is especially useful for beginners, who may not have the time or interest in doing all the research themselves.
In addition to automation, some investment apps also provide a range of other features that can make your experience more convenient. eToro, for example, works like a social network to allow users to follow other traders, see what they’re buying and participate in discussions about market trends. Its Public app also offers fractional shares, so you can invest as little as $1 in a company.
Other investment platforms, such as Robinhood, simplify trading by offering commission-free trades. However, this comes at the expense of advanced features that experienced investors might need.
