How to Invest Online: Ultimate Guide For Beginners

Online investing is a revolutionary force, a digital solution that has democratized the financial landscape. Online investment takes the complexity out of the traditional way of investing by providing a user-friendly platform where several people can now invest online.

In this article, we will be diving deep into all you need to know about investing online, the how-to, the several types of investment, and how you can invest in each of them. Now, let’s begin with the very basics of how online investment works.

How Does Online Investing Work?

Online investment allows you to buy and sell several types of investments electronically through a platform either as an online brokerage or a mobile app. You open an account, follow the prompt, submit all necessary required documents, and then deposit funds into it. Oftentimes, the platform provides a guide through this process.

Most of the platforms also provide tools and resources that are designed to help you make informed investment decisions. Some of the resources include price charts, market news, and analysis reports. Some also offer automated investing, often called robo-advisor, to help you invest your money based on your preset financial goals and risk tolerance.

What are the Benefits of Online Investment?

Once you’ve familiarized yourself with the basics of online investing, you might be wondering what advantages it offers over traditional methods. Here’s a look at some of the key benefits:

• Convenience: With the use of digital platforms, you can make investments at any time, anywhere, and on any day, as long as you have internet access.
• Cost Effective: Compared to the traditional way of trading, these platforms charge way less. Some platforms even offer commission-free trades.
• Access to Information: Another benefit is that they provide a wealth of resources. This helps you to make informed investing decisions. They also keep you updated about your investments.
• Control: Unlike the norms, online platforms give you direct access and control over your investments.
• Transparency: These platforms also allow you to have clear information about your investments. With this, you know about their fees and other charges associated with your account.
• Educational Resources: Another advantage of online investment is the educational materials they provide. These materials provide a rich explanation of how you can take your investment game from scratch to pro.

In essence, online investment breaks down barriers, offering convenience, and affordability, and most importantly, they empower you to be an active investor to shape your financial well-being.

How to Buy Different Types of Investments

Across the several types of online investments available, there are two main ways for you to purchase them. Both are easy to do and will also require you to have an active investment account.

Do-It-Yourself Online Investment

You can invest by opening and managing an account all by yourself. This means you will be the one making all financial decisions. This helps you gain a lot of financial hands-on experience when you start investing, in any type you desire. The only disadvantage is that you can make bad financial decisions, but that is all part of the experience, isn’t it?

Online Investment with a Financial Advisor

Another way around buying different types of investments is by hiring financial advisors. A financial advisor provides access for you to buy and trade assets. They can also help you discover a financial strategy that you can later leverage. The financial advisor does all the research and provides informed and well-analyzed suggestions. you just have to approve trades or investments.

The disadvantage here is that you don’t get to know all the market’s tricks and rules but the bright side is that you don’t get to make costly mistakes.

What are The Risks of Online Investment?

Just like traditional investment, online investment comes with its risks. One general risk about anything online is genuineness. The online space is a place where both genuine and false companies come to pitch their tent.

Another risk of online investment is that you can experience more market volatility which can lead to financial loss. You can also be overwhelmed by the tons of information online and this can lead to hasty, uninformed decisions.

How to Mitigate Them

To avoid being deceived and dumped by false online investment platforms, you must ensure that you verify the platform you choose. You can check for online reviews to see what people are saying about the platform.

It is also important that you educate yourself about the basics of investment and the market trends of the assets you’re interested in. You can then invest with small funds and increase it gradually as your expertise grows. You can also diversify your portfolio to help spread the risk of market volatility.

Always keep in the back of your mind that online investment is not about getting rich quickly but gradually building wealth over time.

What are The Types of Investments Available Online

Now that you’ve understood some of the fundamental knowledge of online investment, let’s look at the types available. There are several investments you can consider online, some of which include online investments in stocks, gold, real estate, mutual funds, and cryptocurrency. Let’s take a look at each one of them more closely.

What are Mutual Funds?

Mutual funds are investment vehicles that pool money from multiple investors and invest it in a variety of assets. The mutual funds are often managed by fund managers, who are highly qualified professionals. While investing in mutual funds, investors can choose from a variety of funds, each with its own goal of investment, how much risk the investment has, and potential return. This means you choose what suits you best.

Now narrowing it down to mutual funds online. Online investment platforms have made mutual funds accessible to us all. Anyone with a computer, a tablet, or even a smartphone can now buy mutual funds. All you have to do is know where and how to buy them.

Where to Buy Mutual Funds Online?

Just like creating a well-balanced budget is crucial for the financial health of an e-commerce business, selecting the right platform for your online mutual fund investments is essential.

Here are the three major ways that you can buy mutual funds online:

1. Buy Mutual Funds Online Directly From The Mutual Fund Provider

Some mutual fund companies allow you to directly invest through their official website. This is often a good option if you have a certain fund in mind to buy. Learn more about AMC’s direct online investment here.

2. Buy Mutual Funds Online From Investment Companies

For broader investment options, consider investment companies like the Vanguard Group. They allow using an in-house account to buy and sell mutual funds online and exchange-traded funds from various firms.

3. Buy Mutual Funds On Online Brokerages

Unlike other options mentioned above, online brokerages are essentially financial institutions that provide a digital platform for you to buy and sell various investment products, including mutual funds online, stocks, bonds, and even options.

The benefit of using online brokerages is that it allows you to tailor your portfolio to your level of risk tolerance and specific goals

How to Set Up an Online Mutual Fund Account

Let’s now look into how you can purchase your first online mutual fund which begins with how to set up an account. 

When you are setting up an account via any of the means of investing in mutual funds online, you must follow the instructions as stated. Fill out all the required information and submit it on the platform of the fund house.

In most cases, you will be asked to provide your bank account details to transfer the funds for your initial investment and, if you like, to be used as the source for monthly purchases of additional mutual fund shares.

You will also have to specify whether you want your fund dividends to be automatically reinvested back into the fund or transferred into your account.

Be aware that when setting up an account, it will, on average, take 10 to 20 minutes. However, the processing of the application and getting your account funded usually takes one to three days, depending on the platform you choose.

How to Execute an Online Mutual Fund Trade

Now, you must understand how to buy those shares of the mutual funds online for your financial goals. 

You will first log in to your chosen platform (brokerage or fund provider). Navigate to the “trade” or “invest” section, and search for your chosen fund using its ticker symbol or name. Once you find it, you’ll see details like the current price and minimum investment.

Now, the fun part is deciding how much to invest! You can either specify a dollar amount or the number of shares you want to buy. Review your order carefully, and double-check the fund details and the amount. That’s it! Your order is placed, and you’re on your way to becoming a mutual fund investor.

Remember, these are just the general steps, specific interfaces might differ slightly between platforms. You can always refer to your chosen platform for your mutual funds online for a detailed instruction guide.

How Can You Invest In Mutual Funds Online?

Having understood the two crucial parts of investing in Mutual Funds online, the platforms to use and how to trade, what is left is pretty simple. Think of it like online shopping – find the mutual fund, decide how much to invest, and hit “buy.”

When investing in mutual funds online, can occur in two ways, either via the website or the mobile app.

1. By Creating an Account on an Official Website (AMC Website)

As explained before, you can find mutual funds on each category of every Asset Management Companies (AMC) official website. All required of you is just to follow the instructions provided on the website site, fill in all the required information, and submit it.

To begin investing, you’ll also need to complete the Know Your Customer (KYC) process. This involves the firm requesting and verifying certain numbers and documents from you.

2. Through a Mobile Application

Aside from registering and investing through the AMC website, you can also invest through mobile applications. This is quicker, hassle-free, and more direct. Through the mobile application, you can do almost everything you do either onsite or on the website.

It allows you to view your account statements, buy or sell units, and even check other relevant details about your portfolio. Some applications even allow you to invest in various funds offered by different fund houses.

Investing in Gold: How to Invest in Gold For Beginners

Investing in gold is another great way to diversify your investment portfolio. And the reason is not too far-fetched either. For one, gold is a physical asset – making it easy to store and trade. If you are looking for asset security in times of inflation and economic crisis, then it’s a great idea to learn how to invest in gold.

There are several ways to invest in gold. From investing in gold ETFs and gold stocks to buying physical gold bars or coins and digital gold online stocks. Ready to learn how to invest in gold online? Let’s get started!

What are 3 Ways to Buy and Invest in Gold?

There are various ways to buy and invest in gold, catering to different preferences and investment strategies. 

Here are three common methods:

1. Physical Gold (gold coins, gold bars, and jewelry)
2. Gold Exchange-Traded Funds (ETFs)
3. Digital Gold

How to Invest In Gold Bullion

Gold bullion refers to gold that is in the form of bars, ingots, or coins, and is typically valued by its weight and purity. Unlike numismatic coins or gold jewelry, gold bullion is valued primarily for its precious metal content rather than any artistic or collectible value.

Investing in gold bullion involves purchasing physical gold in the form of bars or coins. 

Here are the steps to guide you through the process of investing in gold bullion:

1. Educate Yourself

Now, this is a very important step. Before making any gold bullion investments, take the time to educate yourself about the various types of bullion, market conditions, and factors that influence gold prices. Understanding the basics will help you make informed decisions.

2. Determine Your Budget

Decide how much you are willing to invest in gold bullion. This will help you choose the size and quantity of gold bars or coins that fit your budget. Keep in mind that there may be additional costs, such as storage fees or premiums over the spot price, depending on where and how you buy.

3. Choose Between Bars and Coins

Gold bullion is available in the form of bars and coins. Typically, gold bars come in various weights, such as 1 ounce, 10 ounces, or kilogram sizes. 

Additionally, gold coins, issued by government mints, also come in different weights and designs. Choose the form that aligns with your preferences and investment goals.

4. Select a Reputable Dealer

It’s crucial to purchase gold bullion from a reputable and trustworthy dealer. Make sure you research different dealers, read customer reviews, and check that they have a good track record of delivering authentic and high-quality bullion. 

Reputable dealers are often accredited by industry organizations.

5. Verify Purity and Authenticity

When purchasing gold bullion, verify the purity and authenticity of the product. Gold bars and coins should have clear markings indicating their weight, purity, and origin. Reputable dealers provide certificates of authenticity or documentation with detailed information about the bullion.

6. Consider Storage Options

Next, you need to decide where you will store your gold bullion. Some investors prefer keeping it in a secure vault provided by the dealer or a third-party storage service. 

Others may choose to store it in a home safe. Keep in mind that storing gold at home involves security considerations, and insurance may be advisable.

7. Make the Purchase

Once you’ve chosen the type of gold bullion, selected a reputable dealer, and decided on storage options, proceed with the purchase. You can buy gold bullion online, through a local dealer, or from a government mint. Follow the payment instructions provided by the dealer and ensure secure payment methods.

8. Track Market Conditions

Keep an eye on market conditions and factors that influence gold prices. While gold is often considered a long-term investment, being aware of market trends can help you make informed decisions about when to buy or sell your gold bullion.

9. Consider Selling Strategies

When you decide to sell your gold bullion, have a clear strategy in mind. You can sell it back to the dealer, through an auction, or on online platforms. Be aware of potential taxes and fees associated with selling gold, and consider consulting with a financial advisor for guidance.

How to Invest in Digital Gold Online

If your question while reading this is “How can I invest in gold without buying gold?” Then the simple answer is digital gold. Unlike investing in gold bullion, you don’t need to buy physical gold before investing in gold.

So, what is digital gold? 

Digital gold refers to a newer form of investing in gold that allows individuals to buy and own fractions of physical gold through online platforms. These platforms enable investors to purchase and store gold digitally, often backed by physical gold held in secure vaults.

Investing in digital gold online is a convenient and accessible way to gain exposure to the precious metal without the need for physical possession. 

Here’s a step-by-step guide on how to invest in digital gold:

1. Research and Understand Digital Gold

Start by familiarizing yourself with the concept of digital gold. Digital gold platforms allow you to buy and own fractions of physical gold, often stored in secure vaults. Each unit of digital gold corresponds to a specific amount of actual gold.

2. Choose a Reliable Digital Gold Platform

Select a reputable and trustworthy digital gold platform. You should also research different platforms and ensure that the platform is transparent about its processes, fees, and security measures. Popular digital gold platforms include Augmont, MMTC-PAMP, and Paytm Gold.

3. Create an Account

Once you’ve chosen a platform, create an account. This typically involves providing your basic information, and email address, and setting up a secure password. Some platforms may require additional verification steps to comply with regulatory requirements.

4. Verify the Platform’s Credibility

Before making any investments, verify the credibility of the digital gold platform. Check if the platform is regulated by relevant authorities and if it has partnerships with recognized entities in the gold industry. This helps ensure the legitimacy and security of your investment.

5. Fund Your Account

To invest in digital gold, you’ll need to fund your account. Most platforms accept payments through various methods, including bank transfers, credit/debit cards, and digital wallets. Follow the platform’s instructions to add funds to your account.

6. Browse and Purchase Digital Gold

Once your account is funded, browse the platform to view the available digital gold products. Select the amount or value you want to invest in and proceed with the purchase. The platform will allocate the equivalent amount of physical gold to your digital account.

7. Monitor Your Investment

After purchasing digital gold, you can monitor your investment through the platform. Track the value of your digital gold holdings, which should reflect changes in the market price of gold. Many platforms provide real-time updates on the value of your investment.

8. Consider Redemption Options

Some digital gold platforms offer redemption options, allowing you to convert your digital gold holdings into physical gold or receive the equivalent value in cash. Familiarize yourself with the redemption process and any associated costs.

9. Understand Fees and Charges

Be aware of any fees or charges associated with buying, selling, and holding digital gold. Different platforms may have varying fee structures, including transaction fees and storage charges. Understanding these costs will help you make informed investment decisions.

How to Invest in Gold ETFs

Gold ETFs (Exchange-Traded Funds) are investment funds traded on stock exchanges, representing ownership in physical gold or gold-related assets. These funds aim to track the performance of the price of gold. Investing in gold ETFs provides an opportunity to gain exposure to gold without the need for physical possession.

Investing in gold ETFs is a popular and convenient way to gain exposure to the price movements of gold without the need to physically own or store the precious metal. 

Here’s a step-by-step guide on how to invest in Gold ETFs:

1. Research Different Gold ETFs

There are several Gold ETFs available in the market, each with its features, expense ratios, and tracking methods. Don’t forget to check different Gold ETFs to find one that aligns with your investment goals. 

Popular Gold ETFs include SPDR Gold Shares (GLD), iShares Gold Trust (IAU), and Aberdeen Standard Physical Gold Shares (SGOL).

2. Choose a Reliable Brokerage Account

To invest in Gold ETFs, you’ll need a brokerage account. Choose a reliable and reputable online brokerage that offers access to the specific Gold ETFs you are interested in. 

Other things to consider are factors such as fees, ease of use, and the range of investment options provided by the brokerage.

3. Open a Brokerage Account

Once you’ve selected a brokerage, open an account. This usually involves providing personal information, verifying your identity, and funding your account. Follow the steps outlined by the brokerage to complete the account setup process.

4. Deposit Funds into Your Account

Deposit funds into your brokerage account. This will be the money you use to purchase shares of the Gold ETF. You can fund your account through bank transfers, wire transfers, or linking it to your bank account.

5. Search for and Select the Gold ETF

Use the brokerage platform to search for the specific Gold ETF you want to invest in. Each ETF will have a unique ticker symbol, and you can find information about them on the brokerage’s website or trading platform.

6. Place an Order

Once you’ve selected the Gold ETF, place an order to buy shares. Specify the number of shares you want to purchase and review the order details. Ensure that you are comfortable with the terms before confirming the order.

7. Monitor Your Investment

After your purchase, monitor your investment regularly. You can track the performance of your Gold ETF through the brokerage platform, which should provide real-time updates on the ETF’s value and market price of gold.

8. Consider Selling or Rebalancing

If your investment goals change or if you want to take profits, you can sell your Gold ETF shares. Some investors also rebalance their portfolios periodically to maintain a desired asset allocation. Check the brokerage platform for instructions on selling your ETF shares.

When to Invest in Gold?

Determining the optimal time to invest in gold is not an exact science, but there are strategic periods that may enhance the potential benefits of your investment. 

Here are four key considerations:

• Hedging Against Inflation

Investing in gold becomes particularly attractive when seeking a hedge against inflation. Gold has a unique relationship with the value of the dollar—it tends to rise when the dollar’s value falls, especially during inflationary periods. 

The physical nature of gold adds to its appeal as a secure asset in times of economic uncertainty and inflation.

• Diversification of Portfolio

Another opportune time to invest in gold is when you aim to diversify your investment portfolio. Due to its low correlation with other asset classes, such as stocks and bonds, gold is often considered a haven asset. 

Its value tends to rise when traditional markets face downturns, providing a potential buffer against market volatility. Diversifying your portfolio with gold and other precious metals can contribute to a balanced risk-reward profile.

• Consideration for Younger Investors

Younger investors with a longer time horizon may find gold to be a beneficial addition to their portfolios. With more time before retirement, younger investors can afford to take on greater risk. 

Including gold in their investment strategy can act as a safeguard during volatile market events, providing a level of stability to their overall portfolio.

• Strategic Timing Throughout the Year

Statistically, certain months may present more favorable opportunities for investing in gold. According to GoldSilver’s analysis of historical data from 1975 to 2021, advantageous periods include early January, March, and early April, as well as from June to early July. 

Notably, January stands out as historically offering the lowest prices for gold in a calendar year. If consider gold as an investment, being mindful of these trends may help you make informed decisions.

Is It Safe to Invest in Gold Online?

Just like other investment options and assets, you must partner with the right gold investment platform. If you choose to buy physical gold, then you must research the place you buy the gold from and determine where you’ll store it beforehand.

For digital gold and ETFs, choose a reliable online brokerage firm to help you manage your stock. It is also important that you monitor your gold stocks yourself.

Similar to investing in other financial instruments, investing in gold online comes with its own set of risks and considerations. However, with the right knowledge and precautions, it can be a safe and rewarding investment.

The most important thing is – don’t invest in what you don’t understand! Take time to study how to invest in gold and the gold market before committing. 

Once you are educated about investing in gold online, then you can go ahead with your investments.

Here are some key tips for beginners on how to invest in gold online:

• Educate yourself on gold investments
• Choose the right investment option
• Select a reputable gold investment platform
• Diversify your portfolio
• Understand the costs and fees
• Stay informed and monitor your investments
• Have a long-term perspective

How to Invest in Stocks Online

Investing in online stocks might seem complex, especially for people who are new to the game. However, fear not, for the gateway to financial growth lies in the simplicity of online stock investment. Here, we’ll dive into the empowering world of online stock investment. Ready to take the plunge? Let’s get started!

Stocks are the simplest form in which you can get to invest your money in companies. If you aim to keep boosting your wealth, investing in stocks is the way to go. The reality is that over a long period, stocks tend to grow faster than the interest you get on your savings.

The main aim of the DIY procedures is to teach you how to own a valuable stock portfolio. And in the process, you will be able to envision a future where your wealth can withstand the challenges of today’s economy.

Step-by-Step DIY to Start Investing in Online Stock

Getting into the stock market can be difficult, but not that buying stocks online makes it easy to invest. Have it that it is cheaper to buy online stocks compared to buying manually from physical stock brokers. 

With online stock brokers, aka discount brokers, you can invest even if your budget is not in the millions. 

The uniqueness of online stocks is that your cost is dependent on the amount of shares you are buying. All you need to do is to get the application downloaded on your mobile phone or visit the broker’s website on your PC. It is simply one of the ways you can make money on your mobile apps. 

Here are the steps you need to follow to have a splendid process in your stock trading experience.

1. Choosing the Right Broker

There are several online stock brokers, so you must select the right broker that suits your investment plan and objectives. Making the right choice of a broker depends on some salient factors. The factors include: 

• Fees and Commissions

Evaluate the fees associated with trading, including commission charges per transaction. Consider whether the fee structure aligns with your investment frequency and budget.

• User-Friendly Interface

A platform with an intuitive interface can make the investment process smoother, especially for beginners. Look for features like easy navigation, clear charts, and a user-friendly dashboard.

• Research and Educational Resources

Assess the availability of educational resources and research tools provided by the broker. A platform that offers market insights, tutorials, and analysis can be beneficial for informed decision-making.

• Account Types Offered

Different brokers may provide various account types, such as individual, joint, or retirement accounts. Choose one that aligns with your financial goals and requirements.

• Customer Support

A responsive and knowledgeable customer support team is essential. Consider the availability of support channels and reviews about the broker’s customer service.

• Security Measures

Ensure the broker employs robust security measures to protect your personal and financial information. Look for features like two-factor authentication and data encryption.

• Available Investments

Check the range of investment options offered by the broker. Whether you’re interested in stocks, ETFs, or other securities, make sure the platform caters to your investment preferences.

2. Open a Brokerage Account

After making a selection of which broker that suits you, then you can create your account. Remember to complete all the KYC processes by submitting the right documents. Also, ensure that you use password settings that cannot be hacked so that you won’t lose your money. 

Note that you don’t need any help for the onboarding process. Creating an online broker account is swift and straightforward.

3. Fund Your Account

Once your account has been verified, the next thing to do is to fund your account. You can deposit by any means that is available on your broker’s platform. Most of the payment methods are contactless payment.

After making successful deposits, you’ll need to wait for some time, usually a maximum of 2 days before it’s available on your balance on the app.

4. Do Your Research

Before buying into any stock, you must do your research to a point that convinces you enough. In the process of doing your research, here are the things to look out for before making your final choice of stocks to invest in. 

• Financial Statements

Dive into a company’s financial statements, including the income statement, balance sheet, and cash flow statement. Analyze revenue trends, profitability, and overall financial stability.

• Debt Levels

Assess the company’s debt levels and its ability to manage debt. High debt can indicate financial risk, so understanding the debt-to-equity ratio is crucial.

• Earnings Per Share (EPS)

EPS reflects a company’s profitability on a per-share basis. Consistent or growing EPS over time can be a positive indicator of financial health.

• Dividend History

For dividend-paying stocks, examine the company’s dividend history. A consistent or increasing dividend payout can be a sign of a stable and mature company.

• Leadership Team

Evaluate the experience and track record of the company’s leadership team. Competent management can contribute to a company’s long-term success.

• Competitive Advantage

Identify the company’s competitive advantage or unique selling proposition. Understand how the company stands out in its industry and its ability to maintain a competitive edge.

• Industry Analysis

Examine the broader industry trends and the company’s position within that industry. Consider factors such as market share, growth potential, and regulatory challenges.

Conducting thorough fundamental and technical research is paramount for informed decision-making in the world of online stock investment. By understanding a company’s financial health and market trends, you position yourself to make strategic investment choices that align with your financial goals.

5. Make Your Trade Order

The moment you are done with your research, and decide on the stock you want to invest in, then you place your trade order. While making your order, you may have access to different trading options. But for a beginner, it is advised that you stick to the two that will discussed below;

• Market Orders

A market order is an instruction to buy or sell a stock at the current market price. It ensures a swift execution but may not guarantee a specific price, especially in volatile markets. 

Market orders are suitable when immediate execution is a priority. Use market orders when the stock’s price is stable, and you prioritize quick execution over a specific price.

• Limit Orders

A limit order allows you to set a specific price at which you want to buy or sell a stock. It provides price control but may not be executed if the market doesn’t reach the set price.

Limit orders are useful for precision in trade execution. Opt for limit orders when you have a target entry or exit price, and you are willing to wait for the market to meet your specified conditions.

When placing your trade, you must determine how long you want your trade order to last. Consider factors like economic releases, corporate announcements, or market trends before executing trades. 

Avoid making impulsive decisions and, if possible, strategize your trades in alignment with broader market conditions. Stay informed about macroeconomic events, earnings reports, and news that may impact the stocks you’re trading.

The Next Step?

Now that you understand how to invest in stock online, let’s look at some of the best online stock brokers this year.

Best Online Stock Broker in 2024

With several stock brokers available online, choosing the right online stock broker to suit your specific needs is crucial. Whether you’re a seasoned investor or a complete beginner, this platform will be your gateway to the market.

Under this sub-section, you will see how you can spot the best stock broker online. We have researched the top stock brokers online to help you choose the best of the best. We’ve considered factors like fees, educational resources, and customer support which is especially for beginners.

What Does an Online Stock Broker Do?

What online stock brokers simply do is that they ease the burden of having to walk into a firm. With your smart gadgets, you can choose an online stock broker from the comfort of your home and invest in the stock of your choice.

Online stock brokers also often charge less for their services, at least for their basic service plan. This plan usually includes a robo-advisor that automates the buying and selling process, free educational resources, etc.

If you are wondering why you can’t buy stocks directly for yourself from your desired firm, it is because you need access. Buying or selling stocks requires one to have access to one of the major exchanges, such as the New York Stock Exchange (NYSE). It is also important that you are a member of the exchange to enable you to trade.

That being said, let us look at some of the best online stock brokers in 2024 that are best suited for all types of investors, based on key factors like customer support, account minimums, and educational resources. 

What are the Best Online Stock Brokers?

After doing thorough research for the best online stock brokers, the following are the top stock brokers to use in 2024.

1. Fidelity Investment
2. Interactive Broker
3. Charles Schwab

Fidelity Investment

From our research, we did not only find Fidelity Investment as a top online stock broker but also widely used and highly rated by several users. Fidelity Investment is a user-friendly web-based trading platform where you will likely find all the tools you will need, such as screeners, wide-ranging educational content, and in-house and third-party research.

When it comes to fees, they often skip several charges that you will often see in other brokers. Additionally, order flow – the process by which brokers route your orders to market centers in exchange for a referral fee – does not accept payment. Their customer service is also very prompt, 24/7.

You can read more about Fidelity Investment on their website.

Interactive Broker

Following Fidelity Investment is the Interactive Broker. Interactive Brokers is a long-time favorite to many traders because of its rock-bottom commissions and fees, a staggering range of tradable products, and powerful platform and tools. They offer their Lite pricing plan with more than 19,000 no-transaction-fee mutual funds available.

Interactive Brokers comes with a pack of educational resources that include how-to articles, webinars, and a training course. As regards their customer service, you can get questions answered over the phone or through a chat system 24/7, Monday through Friday, and limited hours on Sunday.

One other major strength is its access to global markets, it allows you to trade in 150 markets in 200 countries. You can read more about them on their website.

Charles Schwab

Charles Schwab is another discount broker that comes with a full range of features, making it easy to grow from a beginner into a confident investor. Besides its great educational material for beginners to learn the fundamentals of investing, it also offers stock reports. Their report includes Morningstar reports and news from Reuters.

Schwab offers up to a $1,000 bonus with a referral code from a friend and a qualifying deposit. Additionally, the broker offers fractional shares through Schwab Stock Slices, which lets you buy partial shares of stock for as low as $5.

Schwab customer service through chat and email support is, like others, reliable, with fast and helpful responses. You can read more about them on their website.

You can check out other great online stock brokers, such as:

• E*TRADE
• J.P.Morgan
• Ally Invest®
• Robinhood
• XTB: for EU plus US stock. 

What Online Stock Broker Should I Pick?

The brokerage you choose depends upon your own investment needs and goals. When it comes to online stock brokers, there’s no “one-size-fits-all” approach. You can always do your research to know which one best suits you.

For instance, you might want to try online brokerages like Fidelity or Charles Schwab if you’re searching for personalized assistance. However, E*Trade or Robinhood might be your best option if all you’re looking for is an easy-to-use broker.

We all have different approaches to handling our money and our investment approaches differ as well. These factors include our future and even present goals, the time we have until retirement, and our lifestyle expectations.

And lastly, you must consider certain other factors when choosing your online stock broker. Factors like the money you have to invest, the assets you are looking to buy, your technical needs, how many services you’ll need, etc.

How Do I Get Started With Online Stock Brokers?

After you have selected your preferred stock broker online, then you are ready to get started. You can follow the steps below to get started:

• Open an account: Choose a platform that best fits your needs, visit their official website, and create a profile. Ensure you correctly fill in all details required of you.
• Fund your account: Once you create an account and its approval, deposit funds into it, either through your bank or any other accepted means.
• Get familiar with the platform: If the platform provides a demo account, you can use that to get acquainted with the platform. Get acquainted with its features, such as stock, charting capabilities, and order types. You can use the educational resources and tutorials too.
• Research and select stocks: We advise that before buying a stock, ensure you do your research about it. Check for company fundamentals and trends, and recommendations by experts.
• Place an order: When you are sure about the stock, enter the symbol of the company you wish to buy, select the number of shares, and choose the order type.

After following the steps above and your order is carried out, you then become a shareholder of the company. Make sure you monitor your investments and remain up to date on market events that could impact your stock holdings.

If you want to learn more about other types of online investments, let’s take a closer look at real estate and cryptocurrency. If you are a game lover, you might want to hang around a little longer.

Investing Real Estate Online

Now, let’s dive into investing in real estate online. Investing in real estate online is participation in the real estate market without physically buying a property yourself. It also saves you the hurdle of moving from one property to the other in search of a good investment. 

How to Invest in Real Estate Online

Now that you understand what investing in real estate online is, you are already interested (aside from those who enjoy the physical experience that comes with moving from one property to the other). The next step is deciding how you’d be investing and that is what the next section is about.

There are several ways you can invest in real estate online and one of the popular methods is real estate crowdfunding, among others that will be mentioned as well.

Real Estate Crowdfunding

In traditional real estate investment, there is the Real Estate Investment Group (REIGs) which can be compared to crowdfunding. Real estate crowdfunding is a medium that allows multiple investors to pool their money together to invest in a property or property. If you know mutual funds and how it works, then you should understand this already.

Real estate crowdfunding is a perfect investment plan for those with a full-time job or those who are actively involved in something else, like schooling, and would like to make some extra money from real estate. Crowdfunding comes with a low initial capital which makes them ideal for even beginners, unlike the traditional real estate investment. 

Some of the recognized platforms for crowdfunding are CrowdStreet, RealtyMogul, and Fundrise.

Real Estate Investment Funds (REITs)

Investing in real estate through real estate investment funds (REITs) is also another way to invest in real estate online. REITs are more like companies that directly own income-producing real estate such as apartments, office spaces, warehouses, and even shopping malls.

REITs allow you to invest in small amounts, unlike the amount you will invest when you purchase a whole property. You can also spread your investment across several properties, thereby reducing your investment risk across locations and property types.

Similar to how you invest in stocks using stock brokers, you can trade REITs on public stock exchanges, or sometimes non-traded private REITs.

Other Online Investment Methods

Besides crowdfunding and REITs, there are several other methods through which you can invest in real estate online. Just as there is house flipping in the traditional investment in real estate, there is also an online version called Micro-flipping. This is where you buy a “not-too-good” property from a distressed seller and sell it without paying for any fix.

The last option, although there might be more as new methods are emerging, will be the fractional real estate investment. This is made possible by using blockchain technology in real estate. This allows you to invest in real estate with as little as you have, ranging between $50 – $100. You can now use online platforms like RealBlocks.

What is The Best Way to Invest in Real Estate Online?

After all has been said, the big question you are probably asking now is about how best can you invest in real estate online. Choosing the best way depends on several factors such as the type of property you want to invest in, the amount you can invest, etc.

For instance, you should not consider using the fractional investment method if you know how to invest in cryptocurrency. Real estate crowdfunding is also suitable for the working class. Which means you can easily spare some cash to use in investing. For REITs, it can provide you with a more steady income and it is also easy to sell.

Whether you are a busy professional looking to invest through REITs or you have little cash to invest through crowdfunding or fractional investment, the online space has several ways that you can always explore.

So far, we’ve been looking at examples of investments that are conventionally done physically and how they can be used online. Now let’s look at cryptocurrency, a type of investment that is completely online.

Investing in Cryptocurrency

Before you learn how to invest in cryptocurrency, it is very important to know what cryptocurrency is. Cryptocurrency, or crypto, is a digital currency, meaning it doesn’t have a physical form but runs on a virtual network. The cryptocurrency is built on blockchain technology which ensures that all transactions are securely processed and recorded.

Cryptocurrencies are digital assets that can be bought and sold but unlike stocks, investing in cryptocurrency does not entitle you to legal ownership of a company. Rather, you are investing in a digital asset that you hope will increase in value.

Cryptocurrency has two major distinctions when compared to other forms of currencies. Firstly, cryptocurrency is decentralized which means that it is not owned, backed, or regulated by any government or corporation. And secondly, cryptocurrency can be transferred without using a third-party financial institution like Bank. By contrast, bank account connections are required for well-known peer-to-peer payment systems like Zelle, PayPal, or Venmo to function.

How do Beginners Invest in Cryptocurrency?

Now that you’ve grasped what cryptocurrency is, you can explore how you can start investing in cryptocurrency. In simple terms, you need to know how to trade cryptocurrency online. The most popular place to purchase crypto is cryptocurrency exchanges.

How to Buy Crypto Online?

Just like stock brokers, cryptocurrency exchanges are like a marketplace where you can buy and sell when investing in cryptocurrency. There are many to choose from with popular ones being Coinbase, KuCoin, Binance, Bybit, etc. You can also buy any amount of these currencies just like when you buy a piece of land from a hectare.

Things get a little trickier for other cryptocurrencies, sometimes called “altcoins.” Alternative coin, also called Altcoin refers to any cryptocurrency that’s not Bitcoin. Think of Bitcoin as the original king of the crypto castle, and altcoins are all the other contenders for the throne. Examples are Solana, Dogecoin, and the popular BNB.

To buy these, you’ll often need to use Bitcoin or Ethereum first because you can’t usually buy them directly with fiat currency (regular paper money like USD or NGN). But that may change in the future.

Where to Buy Crypto Besides Exchanges?

Besides using exchanges when investing in cryptocurrency, you can use other means to buy cryptocurrency online. There is the peer-to-peer (P2P) method where you can buy or sell directly from other crypto traders who are looking to sell/buy coins (cryptocurrencies).

However, if you’re still entirely new to cryptocurrency, it’s best to stick with the exchange for now because peer-to-peer can be slower and a bit risky. Exchanges are a safer way to get started than P2P.

Another option, which is gradually coming to the limelight, is the Bitcoin ATM. According to Statistica, there are 34,000 Bitcoin ATMs all over the world as of January 2024. You can use a Bitcoin ATM to purchase Bitcoin and send it to your wallet (where you keep your cryptocurrency) and use that to buy coins of interest.

Where to Keep Your Cryptocurrency?

Now that you’ve understood how to buy or sell cryptocurrency and where this transaction can be done, the next thing is to know how you keep your cryptocurrency. That will be in a wallet, a cryptocurrency wallet. This wallet isn’t the physical wallet you keep at the back of your pocket but an electronic store that holds your private keys, keeping your crypto safe and accessible.

There are two types of wallets used in investing in cryptocurrency, the software and the hardware wallet. There are Software wallets that are often used for active trading because they are easily accessible. The hardware wallet, on the other hand, is a physical device, like a USB. It is more secure which is why people often use it to hold currencies that are rare to find or to keep a coin for a long time.

What are the Risks and Benefits of Investing in Cryptocurrency?

Aside from earning money online without investment, every form of investment you’d make has varying degrees of risk and reward. Cryptocurrency isn’t an exception as it comes with its unique pros and cons.

What are the Risks of Investing in Cryptocurrency?

Cryptocurrency prices are known for their wild swings, meaning you could see your investment skyrocket one day and plummet the next. This volatility can be exciting, but it also carries a high risk of losing money.

On top of that, not all cryptocurrencies or platforms are created equal, and some are more vulnerable to hacks or even outright fraud. When it comes to investing in cryptocurrency, it is “buyer beware”, so do your research and invest cautiously.

What are the Benefits of Investing in Cryptocurrency?

One of the beauties of investing in cryptocurrency is that it breaks away from traditional financial systems, allowing users more control over their funds and global access anytime. Unlike other forms of online investment like real estate, they boast the potential for faster transfers and lower fees compared to banks, especially for international transactions.

And most importantly, cryptocurrencies have the potential for high returns, which is actually why most people choose them over normal banking methods.

While you make your decision on how you want to start your crypto journey, don’t get caught up in the hype and rush into decisions. Take time to conduct thorough research. Explore different coins, understand the underlying trends, and carefully evaluate the reputation of various trading platforms.

And if you want to invest online but you don’t even have any income, the next section is for you. Learn how you can make money without investment.

5 Ways to Make Money Online Without Investment in 2024

The internet has grown in popularity over time, however, there have been several short-lived ways to make money. Besides investing in stocks or real estate, mutual funds, etc, you will be learning here how you can make money online without investment this year.

Amidst several ways, our top picks are:

• Learning a skill
• Freelancing
• Virtual Assistance
• Content Creation
• Dropshipping

Invest in Yourself: Learn a Skill

While the purpose of this section is to show you ways you can make money online without investment, the best way to increase your earning potential is by investing in yourself.

Since the global lockdown during the COVID-19 pandemic, the online market space has vastly increased. That has directly called for a tremendous increase in the skills needed by firms across the globe. Learning any of these can positively transform your finances. Some of these skills are:

Programming

Programming skills (software dev, data science, cyber security, etc) are highly sought after. You can learn these skills from online resources like freecodecamp or YouTube.

Blogging

Another skill you can learn and master in a relatively short time is writing as a blogger. You can learn writing for free on HubSpot, among others, and specialize in any niche of interest. You can then consider honing your skills for various online gigs like content creation, copywriting, or even editing.

Designing

Now, if you know you have an eye for aesthetics and usability, then this is your way to financial freedom. You can learn the fundamentals of graphic design, web design, or user interface/user experience (UI/UX) on platforms like Udemy, Alison, etc.

Whether you’re interested in learning programming, writing, designing, digital marketing, or any other field, the hack to making money from it is gaining mastery. For instance, if you are learning writing, you can hone your skills in SEO and gain mastery at it instead of writing across several niches. 

Take advantage of several online resources across different platforms, stay curious, and continuously strive to improve your skills to succeed in the online marketplace.

Freelancing

If you are looking for how to make money online without investment, FAST, then freelancing is one of your best bets. Freelancing is simply when you offer your skills and services to clients (those in need of it) online and receive money for it. 

With freelancing, you can easily make money from what you love to do, such as writing, data entry, graphic design, and more. That being said, your skills must be marketable because you will be the one securing clients.

As a writer, you can source for clients across several platforms like Upwork, Fiverr, and even social media platforms like X(formerly Twitter).

Become a Virtual Assistant: Assist Remotely

Virtual Assistant (VA) is another great option to make money online without investment. VA is a means for making money online for free, unlike others where you will have to learn a core skill. This is particularly true for individuals with good planning and organizational skills. In recent years, a lot of organizations and even entrepreneurs have searched for someone who can assist them in managing their schedules and responsibilities in exchange for payment.

As a virtual assistant, you are expected to handle administrative tasks, and sometimes marketing, technical, sales, and other tasks for the client. You can find virtual assistant roles advertised on LinkedIn, social media, or even dedicated virtual assistant websites.

Aside from using freelancing platforms, you need to set up a payment method, especially if you are not in the same country as your client. You easily set up an account on Paypal which allows you to receive payment across the world. For Nigerians, you can read about how you receive and send money.

Content Creation: Create and Monetize

According to Datareportal, a “typical internet user spends almost 2 1⁄2 hours each day using social media platforms…”. The Gold mine in that report is the huge number of hours everyone on the globe spends online in a day, and this is where your audience lies.

As a content creator, your job is to produce interesting, informative, innovative, and relatable content. You then reach your audience using TikTok, Instagram, YouTube, and other mediums. It is important that you also recognize the audience you are targeting to determine the platforms on which you can most effectively reach them.

You can be a content creator and also make money through sponsorships, advertisements, paid partnerships, and more. A perfect way you can make money online without investment.

Dropshipping

You will need a skill to earn from all three methods mentioned above. Even as a virtual assistant, you’ll still learn time management. But if you need an answer to “how to make money online for beginners without investment”, knowing that you do not have any skill, then gather here and read about drop shipping.

What then is Dropshipping? It is a type of eCommerce business where you sell products without having to carry any inventory (i.e. have any product in stock). See it as a middleman who connects a buyer to a seller.

For instance, if you know a person who makes a salad, you can get an order from a customer who wants salad and give the order to the seller who then makes it and delivers it to the customer in your name. Just like Amazon, AliExpress, etc.

You can start your own online business with little to no money with dropshipping. Just by connecting people who have a product to buyers who need it, you can make money online without investment.

What is the fastest way to make money online without investment?

There are ways you can make money online without investment, some of which are covered above. What you must also know is that the fastest possible way to make money online fast without investment won’t likely be building a long-term sustainable income stream. 

However, here are a couple of options that can generate a quick return:

• Freelancing with a skill you already have, although you will need to use a freelancing platform to get a client from.
• If you are a “people person”, you can start creating content online on YouTube and social media platforms. Once you hit a threshold of followers, you can monetize your page.
• Lastly, you can take online surveys for mobile applications and websites to make money online.

Now, to the gaming hack for the game lovers, especially GTA 5 lovers, the next section is on ways you can make a lot of in-game bucks!

How to Invest in GTA 5 Stocks Online

The Grand Theft Auto Five – GTA 5 Online, is an interesting game by Rockstar Games, racking up kills in deathmatches, pulling off daring heists and so much more. But it always seems like the money you earn from those sweet in-game adventures disappears as fast as you earn it and the big, luxurious things you so much want still feel out of your reach.

Well, it will be interesting for you to know that you can make millions in GTA 5 online so quickly. So if you want to learn how you can unlock the secrets of racking in a lot of money in GTA 5 Online, you can also hop in.

Market Stocks In GTA 5 Online

The thrilling GTA 5 online game has a stock exchange where you can invest in different types of companies. Just like how you would invest in real stock, you can invest in the GTA 5 online stock as well. As you’d expect, you will see several listed companies with their current market value, their recent increase or decrease, and the percentage of that change. The major thing you will be on the stock market is to buy and sell. 

Traditionally, you can observe the trend of any company you are interested in and buy a stock when you are sure that the company value will go up. You then hold the stock until the company’s value goes up, as you’ve predicted then you sell at a higher rate, thereby, having more profit.

How to Locate the GTA 5 Online Stock Market?

To access the GTA 5 Online stock market, you should follow the steps below.

• Bring out your phone or access a computer anywhere in the game by pressing Up/D-pad/M.
• When you access the phone, click on the internet icon (a globe icon). If it is a computer, then the internet will be the default program.
• When you access the internet, navigate to “Money & Services” and click on it. You will have two options, BAWSAQ and LCN Exchange. These are the two exchanges through which you can buy or sell stock.

With the above steps, you will be able to browse stock prices, make purchases, and manage your portfolio. Now, let’s see how you can make the best out of it.

Investing in GTA 5 Online Stock: Lester Assassination Mission

The traditional way of investing in the stock, which was previously mentioned, might sound too direct, basic, and easy to handle but it isn’t. You will find out that your prediction may not always happen as you imagined and you end up losing your hard-fought money. This is why you need to understand the Lester assassination series and use it well.

The Lester assassination mission is the best and surest way you can make money from the GTA 5 online stock. Unlike conventional investment strategies, the Lester assassinations guarantee a great profit.

While playing the game, Franklin will get to a point where there’s access to the 5 Lester assassination missions where you get to assassinate prominent corporate characters. The missions are:

1. The Hotel Assassination – Bilkington Research (BIL), Betta Pharmaceuticals (BET)
2. Multi-Target Assassination – Redwood (REC), Debonaire (DEB)
3. The Vice Assassination – Facade (FAC), Fruit (FRT)
4. The Bus Assassination – Vapid (VAP) stocks
5. The Construction Assassination – GoldCoast (GCD)

The exciting thing about these missions is that you can utilize them to make a lot of profits in the stock market.

How Do the Lester Assassination Missions Work?

When you have a mission to assassinate a prominent corporate character in the Lester missions, you can invest in the stock in line with the mission. After completing the mission, you can now sell the stock when you notice an increase in the value of the stock.

When you complete a mission, you buy and save the game several times as Franklin. You can do this by sleeping multiple times in the game simply by going to your bed in one of your apartments or you simply kill yourself. You keep doing that until you see an increase in the stock you bought. When you see your desired profit, you can then sell the stock.

Repeat the process for each of the missions but as for the Bus assassination, you must invest after the mission because you are not directly killing the boss of the company. 

GTA 5 Online Stock: Airport Destruction

You can also invest in GTA 5 online stock by targeting a particular place to destroy. This is just like the Lester missions but in this case, it is not a mission. It is a tactic that centers around the Los Santos International Airport.

When you check the LCN exchange, you will see the FlyUS and AirEMU, which means they are rivals. The next thing you will do is to locate the airport on your map and drive there. Before you start, ensure you save your game to have a restore point.

You then purchase all FlyUS stock that you can afford after which you will now start destroying all AirEMU airplanes. Or vice versa. When you do this, the value of AirEMU will start to tremendously fall while the value of FlyUS goes up.

After you’ve destroyed the planes, you can go to sleep at your property or kill yourself but do not save the game. Each time you wake up or come back to life, check the stock for the percentage increase. Keep doing this until you see up to a 15% increase in the FlyUS stock and then you can sell. In case you noticed the profit didn’t get to 15% before it started to drop, you can just sell immediately.

When can the Online Stock be Unlocked in GTA 5 Online?

The stock market in GTA 5 Online is available from the very beginning. Although, investing at the beginning of the game might be more risky. This is because you won’t, most likely, have enough money to risk.

For the assassination hacks, you have to make headways in the game first. You need to get to the stage where Trevor arrives in Los Santos. You will then receive a message when you switch to meet Lester which begins the series of assassinations.

The GTA 5 Online Stock Market is a whole new game unto itself. It offers a chance to ditch the petty heists and rake in serious cash to afford the luxury you desire. By using the Lester Assassination Missions to your advantage, you can become a smart investor. You will be able to turn a few bucks into something way bigger.

Wrapping it All Up!

Voilà! You are now well equipped on how to make money online with and without investment, plus an additional stock strategy for GTA 5 lovers.

Remember that it is important you choose an investment type that aligns with your interests and/or skills, as this will help reduce the stress of dabbling into something beyond your league. Also be prepared to dedicate time and effort to learning and growing, no matter the league you dabble into. 

Remember, this journey is a marathon, not a sprint. Take your time, research thoroughly, and prioritize your long-term financial goals.

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