Five of the best online stockbrokers for seniors
Engaging in stock trading may seem a complex business, but it’s really quite simple. Once you’ve found an online platform for trading stocks, it’s easy for seniors to have a go at making investments and improving their finances.
Below we list five of the best online stockbroking platforms for seniors.
1. Ally Invest
Ally is well known for its online banking services. However, as well as offering these services to consumers, it also provides the Ally Invest platform. This is a user-friendly online stockbroking platform that suits both newbies and experienced traders.
If you don’t know much about investing, Ally Invest can do the heavy lifting on your behalf. The intuitive user-friendly stockbroker interface is easily understood, even for those without much technical knowledge. Your investments can be managed straight from your desktop computer, so you don’t need a smartphone or special software to use it.
A pioneer in online stockbroking, E*TRADE has been facilitating online trading for many years. Nowadays, it certainly lives up to its long-established reputation.
Making investments just before your retirement, or after you’ve retired, obviously brings risks, but E*TRADE can help any type of investor. Commission and fees are low and there is even a wide spread of ETFs and mutual funds that you can trade without any cost, so no matter how closely you have to watch the pennies, there is something for you.
E*TRADE also has a user-friendly interface, with a basic option available alongside more advanced choices for more experienced traders, so there’s something for every senior. Free market data, commentaries, and analytics will guide you towards the best investments.
3. TD Ameritrade
TD Ameritrade consistently comes out with high ratings from reviews of online brokerage services, due to its high-quality research, wide range of products, and excellent tools for investors. If you’re a senior who needs someone to guide you through the process of investing in the stock market, TD Ameritrade’s support and guidance could well be for you.
Seniors will be helped to make the best investment decisions through the platform’s plethora of research, guidance, and information. Even those who are new to the whole world of online investment will find sufficient information available to give them the confidence to make their first steps. If you having problems with online trading, TD Ameritrade has real-world branches across the country, so you can get human interaction and support whenever it’s required.
4. Fidelity Investments
Seniors will be looking for a portfolio with a mixture of good investments and good balance. Fidelity Investments can help seniors to achieve this balance with their online brokerage services; the platform has recently been revamped to be more manageable, provide more options, and offer prices that seniors can afford.
Fidelity Investments will suit those retirees who value high-quality research for their investments and want to pay the lowest possible price. Fidelity is an effective way of growing your pension pot while not having to lay out too much in fees. A range of funds is available so that seniors can choose a well-balanced portfolio that will keep on expanding.
5. Merrill Edge
Merrill Edge may not be the biggest name in the business yet, but it is swiftly expanding and increasing in popularity, particularly now that it has partnered with Bank of America.
Merrill Edge uses cutting-edge technology, which can be seen on both its mobile app and desktop platform. Seniors shouldn’t be put off by this though, as both website and app have been designed to be intuitive and user-friendly, which would suit those with less technical knowledge. There are even plenty of tutorials, such as Merrill Edge Stock Story, which will lead you through the fundamentals of investing simply and quickly.
Another benefit seniors can enjoy is that if you already have an account at Bank of America, there are extra benefits waiting for you. The partnership between Merrill Edge and Bank of America gives customers additional research, special discounts, and personal support if you need it.