M1 vs Robinhood vs Acorns - Best Free Investing Apps for Beginners | Stock Market for Beginners

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  • Опубліковано 4 лис 2024

КОМЕНТАРІ • 98

  • @josephhogue
    @josephhogue  5 років тому +7

    Now that you know WHERE to invest, check out my five favorite stocks to buy for the next 30 years! 😲 ua-cam.com/video/wiB43XMo_UM/v-deo.html

    • @musiqbox7315
      @musiqbox7315 5 років тому

      Let's Talk Money! with Joseph Hogue, CFA I cant create the account from my country it is not working here
      So how do I invest

    • @Cashcarlos911
      @Cashcarlos911 5 років тому

      Acorns is free ? I though Acorns charges 1 per month?

  • @gregsparks7379
    @gregsparks7379 5 років тому +6

    Great vid! Recently opened an M1 finance account for IRA with $200. Currently 50/50 with $NCMI and $OCSL.

  • @calvinraab8798
    @calvinraab8798 5 років тому +6

    M1 is great for someone with not much money and wants to diversify a lot and Robinhood is great for bare bones simple investing! Both are great options!

    • @Jdb63
      @Jdb63 5 років тому +1

      I assume you meant Robinhood for the second one

    • @calvinraab8798
      @calvinraab8798 5 років тому

      @@Jdb63 Yup, good catch, just fixed it. Thanks!

  • @hansel1611
    @hansel1611 5 років тому +14

    I think M1 Finance is the best out of the three in my opinion. Only thing I wish it had was Acorn's round-up feature, and Robinhood's ability to buy and sell multiple times a day compared to just one

    • @josephhogue
      @josephhogue  5 років тому +2

      That would be awesome if it included those features, like a best-of app. I think it would be difficult for them to do the fractional shares and multiple daily purchases until they grow the user base larger though.

    • @michaelmarquis8072
      @michaelmarquis8072 5 років тому

      that would be awesome if you had the ability to round up into your cash reserve account!

    • @chatview4160
      @chatview4160 5 років тому

      Hi, do you need a margin account with robinhood to be able to buy and sell multiple times a day, or not? Thank you,
      Not that that's my goal but just to know.

  • @edrs787
    @edrs787 5 років тому +3

    Your videos are very informative. I use Acorns and M1. Both over 6 percent gain. So much easier than 10 yrs ago. I saw some complaints about acorns. I feel it works better starting with 1000 dollars and for long term investing. Thanks for sharing your knowledge.

  • @alonzo2k
    @alonzo2k 3 роки тому +3

    Hi Joe, now in 2020, with Robinhood now offering fractional share investing and automate pay features what you think about the app?

  • @extremecarpetcleaning-wvwi86
    @extremecarpetcleaning-wvwi86 5 років тому +8

    I use Robinhood and I love that it is so easy, but it's not for swing trading or penny stock trading. I use it for just buy and hold forever. I'm just a dividend investor. Slow boring way 😉

    • @josephhogue
      @josephhogue  5 років тому

      I was a late adopter to Robinhood, started with M1 but I love the free stock idea on Robinhood and some of the other features.

    • @josephhogue
      @josephhogue  5 років тому

      I agree though that M1 might be a better choice for long-term investors, especially if you have a lot of dividends coming in and want to reinvest quickly.

    • @artificialstyle998
      @artificialstyle998 5 років тому +1

      Robinhood is better suited towards swing or just trading in general. Just use a separate site like think or swim for the charting technology... M1 is better for the strategy you mentioned

    • @Jdb63
      @Jdb63 5 років тому +1

      Yeah I'd have to disagree. Robinhood is the best swing trading you're gonna get for free

  • @DividendGrowthInvesting
    @DividendGrowthInvesting 5 років тому +5

    Robinhood if you want to trade (buy and sell). M1 Finance if you want to invest long-term (interested in dividend investing). Acorns if you are an Ashton Kutcher fan.

  • @GregK235
    @GregK235 5 років тому +5

    Thanks for a thorough & comprehensible overview of the pros & cons of these apps. I like the order types available on RH, but the lack of tax-advantaged accounts means taxable events with each sell. If account balance >$20k, Merrill Edge might be a good option as free trades become available above that level.

    • @josephhogue
      @josephhogue  5 років тому

      Thanks for the heads up on Merrill Edge Greg. I've got a BoA/Merrill account but haven't looked at it in a while (small portfolio to keep the account open and give me access to research).

  • @shroud4269
    @shroud4269 2 роки тому +1

    If I'm on acorns with like 10k invested, and i decide to switch to robinhood 5yrs later, how would I go about moving my money and investments? And would I keep the values of my compound interest?

  • @MoneyandLifeTV
    @MoneyandLifeTV 5 років тому +3

    Great overview Joseph! I really enjoyed this.

  • @newera4675
    @newera4675 5 років тому +3

    Love your videos Joe! Thank you for sharing your wealth of knowledge and experience. :)

  • @ashiafouch6164
    @ashiafouch6164 5 років тому +3

    I have reviewed all of these. Acorns is very useful but the best investing app I have found is by far is Webull. If you're a true beginner I guess Robin Hood is more of that speed but again once you get the basics Webull all the way.

    • @josephhogue
      @josephhogue  5 років тому +3

      I've seen Webull popping up in other channels' videos and the company has reached out to me to review the site. Haven't looked at it yet. What features do you like on the site?

    • @ashiafouch6164
      @ashiafouch6164 5 років тому +1

      @@josephhogue you should definitely check it out. One of the main reasons I like it is that I can short stocks however you can't trade options and you can do that on Robinhood. I do like the fact that you can pick up the phone and call these guys that's been very helpful. There's just lots and lots of information on the site about stocks, statistics, the most traded stocks this week last month Etc. I also like the fact that you can trade on margin you have to pay for that on Robinhood. regardless they're both good platforms webull just fits my style a little better I like to trade / swing trade I think it's set up for that a little better. Okay I better stop I'm not trying to write a book LOL love your videos.😎

    • @mindsinmotion2825
      @mindsinmotion2825 5 років тому

      @@josephhogue it also gives to ex dividend dates as well as free paper trading and allows you to chat with other investors across the platform. I started with Robinhood and still have that. I plan to also use M1 for more expensive positions in the future

  • @alleneverhart4141
    @alleneverhart4141 5 років тому +8

    One thing you didn't mention is that Robinhood has the ability to trade options, commission free of course. Also, Robinhood gives you clearing margin for free, so you are not restricted by a lack of settled funds - very important for trader-types.

    • @eannane8712
      @eannane8712 5 років тому +1

      I have heard a lot of bad things about robinhoods options trades. Not closing positions properly, trouble getting ahold of people.

  • @daven7536
    @daven7536 3 роки тому +1

    Just to be clear, With M1, if I want to buy a stock I cant put in a limit order for a price im willing to pay? Or is the trading window just for the factions orders? Ty

  • @richardcastillo725
    @richardcastillo725 4 роки тому +1

    Just subscribed, I found the video pretty helpful but I do have a question do they have options for index funds and ETFs on the app? You mentioned it for the ACORN app.

  • @Marcusmarcus318
    @Marcusmarcus318 5 років тому +8

    I use Robinhood and M1 Finance only

  • @ML-ks2lj
    @ML-ks2lj 3 роки тому +1

    Did you write what your reading? I appreciate the information and the service you provided to our country corporal, if im staying that rank correctly I apologise if I over step just wanted to thank you as proper as I can in a comment. But I am just curious if you are reading a prompter or something you wrote?

  • @JMan-cc9dw
    @JMan-cc9dw 5 років тому +2

    I have been using Robinhood for a while and just started using webull

  • @HustlinHorse
    @HustlinHorse 5 років тому +5

    I like M1 Finance the best and Robinhood in a close second. Acorns, to me, is just lazy investing and its fees are too high in comparison to most index ETFs. Best way to invest in to avoid fees all together is just invest in value stocks with no fees or .03% ETFs from vanguard.

    • @josephhogue
      @josephhogue  5 років тому +2

      Yeah, Acorns isn't really for me though I think it's a great platform for people that just don't want to have to worry about it. With the savings tool and robo-advisor together, it's a one-stop for saving and investing.

    • @HustlinHorse
      @HustlinHorse 5 років тому

      Let's Talk Money! with Joseph Hogue, CFA , Great Point! I completely agree. I’ve recommended it to so many people I know because they simply “cannot find the money to invest”. It is funny how quickly it can build without you even looking at it.

  • @jimmyjack7030
    @jimmyjack7030 5 років тому +4

    Robinhood does not have a beneficiary nomination and I can't buy mutual funds on my Robinhood app but I still love it. On Robinhood I put all my spare change into FELP, a coal mind in southern Illinois but need more info about this company to make a long term decision.

    • @josephhogue
      @josephhogue  5 років тому

      Haven't done the research on FELP (I usually stay away from companies with a market cap less than $500 million) but I wouldn't use it as anything more than a lottery-ticket investment. That's an extremely small company in an industry that is struggling every day. If you want to stay with the coal theme, go with a fund or diversify across some of the larger names.

    • @jimmyjack7030
      @jimmyjack7030 5 років тому +1

      @@josephhogue Thank you, I am 53 years old and have been investing with Robinhood for only 45 days now so any information really helps me to pick a direction to go. Again Thank you.

    • @haris000000
      @haris000000 5 років тому

      @@jimmyjack7030 what made you choose a coal mine as an investment?

    • @jimmyjack7030
      @jimmyjack7030 5 років тому +1

      @@haris000000 I was looking for dividend stocks and FELP was offering a high dividend payment. I did not know it was a penny stock as I am new to investing and did not know what a penny stock was and the dangers associated with them due to not being regulated by the SEC. Everyday I am learning about this new to me field, from Joe.

    • @josephhogue
      @josephhogue  5 років тому

      Lots of dividend videos on the channel. Definitely want to check out this one on watching the payout ratio and why you can't just look at that dividend yield because of the risks involved. Always happy to help with any questions. ua-cam.com/video/izGQr8rzEsg/v-deo.html

  • @curvyessentials
    @curvyessentials 4 роки тому +4

    Robin Hood now has fractional share purchase : )

  • @Shwalker07
    @Shwalker07 5 років тому +4

    I like M1 finance because they got the IRA going for them and it is great for beginning traders but it is almost too simple. Robinhood is great because I like to buy/sell shares all the time here and there plus I do not prefer fractional shares personally.

    • @josephhogue
      @josephhogue  5 років тому +2

      Good point. Something I didn't really say much about but nothing wrong in using them both to get the benefits of both.

  • @PassiveIncomeTom
    @PassiveIncomeTom 5 років тому +3

    Great overview on these investing platforms Joseph! 👍

  • @raycody
    @raycody 5 років тому +2

    You give great advice. I was wondering if you might have any thoughts on what I should do with my traditional IRA. I have about $43K in a credit union making squat. Didn't know what I was doing a long time ago when I set that up and have been reluctant to correct this. I'm 55 and have a Roth IRA and a Roth 401K, so when I finally pulled my head out of ass, I started making better investments. Still, I have this chunk of cash and I want to do something with it, but don't want to screw this up again. What would you do with it? Converting it to a Roth at this point might be brutal with taxes. I'm thinking about going with an S&P or Total Market index fund with Vanguard, or do you think that a balanced, target date, or a mixture of funds would be better?

    • @raycody
      @raycody 5 років тому +1

      FYI, I don't plan on continuing to contribute to this traditional IRA. Just looking to invest it and leave it alone.

    • @josephhogue
      @josephhogue  5 років тому +1

      Hi Ray. Sounds like you just want a stress-free investment you can earn a higher return on and don't have to worry about. I'd go with the five ETFs in this video ua-cam.com/video/hoh1IhRjlGg/v-deo.html - will give you stocks, bonds and real estate so a really diversified portfolio and protect you from the market crashes. Solid return over the next decade and you won't have to worry about it.
      Thank you for being part of the community.

    • @raycody
      @raycody 5 років тому +1

      @@josephhogue Thanks! I've seen that video before and found it very interesting. You nailed it exactly as to what I needed to do and I'm going with this advice. Thanks for your help. Keep up the great work!

  • @xHobbSx
    @xHobbSx 5 років тому +3

    Any opinion on apps/sites open to Europe? I'm using degiro. It's basically free. They charge .55 / trade

    • @josephhogue
      @josephhogue  5 років тому

      Heard Robinhood just got approved for the UK and I know eToro is popular there.

  • @johnhenderson7081
    @johnhenderson7081 5 років тому +2

    What is your opinion on Firstrade?

    • @josephhogue
      @josephhogue  5 років тому

      Hadn't looked at it yet. What is it you like about the platform? What features do they offer?

    • @johnhenderson7081
      @johnhenderson7081 5 років тому

      @@josephhogueThe first thing is they are FREE. You can trade stocks, options, ETFs, mutual funds. Their execution of a trade is very fast. 0.06 trade execution speed. They have retirement accounts, international accounts, custodial accounts and individual accounts. They have been around since 1985. I have moved my ROTH there from Schwab. Their trading platform is ok for traders, but it works for me. I would suggest to anyone investing or trading.

  • @arbhyecastor6889
    @arbhyecastor6889 5 років тому +3

    Doesn’t M1 finance charge .35% of your assets yearly as maintenance fee since it’s an automated system? 🤔

    • @josephhogue
      @josephhogue  5 років тому +3

      No, you might be thinking of some of the robo-advisors.

  • @BeeBoo6
    @BeeBoo6 5 років тому +2

    Hello Joseph ... I know this might be hard for foreign investors since there are more taxes on dividends but that makes it more important to reduce fees. can you give me your recommendation for a good platform for a small accounts (less than 5k $)

    • @josephhogue
      @josephhogue  5 років тому

      I like Robinhood and M1 Finance if they're available.

  • @Kibatsume1
    @Kibatsume1 5 років тому +1

    I know a lot of people love Webull it is free and they have quick trade times for people who like to swing or day trade.they have options. they have better tools than Robinhood.charts, scanner exct.... right now all my stuff's in TD Ameritrade,i intend to open up M1 Finance for a Roth ira account.. I'm currently 31 my house has been paid off since the age of 29 . I've finished with most of the major remodeling... recently realized I am behind on saving for retirement...after sacrificing so much to get a house and have it paid off early ,I'm afraid I went nuts on spending after I paid It Off.....😑

    • @josephhogue
      @josephhogue  5 років тому

      I like Robinhood and M1 for a little longer investing approach but just started using Webull for trading. Love the 'paper portfolio' option to test out strategies.

  • @yawyentumi3568
    @yawyentumi3568 5 років тому +1

    I would like to know if you can invest in these platforms in you're in uk, thanks

    • @josephhogue
      @josephhogue  5 років тому

      Heard Robinhood just got approved yesterday to open in the UK.

    • @yawyentumi3568
      @yawyentumi3568 5 років тому

      Thanks

  • @MartinMcClellanGT
    @MartinMcClellanGT 5 років тому +2

    Wealthsimple is the best for us Canadians.

    • @josephhogue
      @josephhogue  5 років тому +1

      Similar to Acorns but without the savings tool, but yeah I like WealthSimple too as a basic robo-advisor.

    • @MartinMcClellanGT
      @MartinMcClellanGT 5 років тому +1

      Let's Talk Money! with Joseph Hogue, CFA definitely there’s no excuse to not invest! With almost 200k invested with Wealthsimple and aiming long term, I couldn’t be more happy with my decision! Informative videos like this one and many more on Let’s talk money and other channels, made me more educated about finances. Many thanks!

  • @tahakasab5266
    @tahakasab5266 5 років тому +1

    I live in Austria , m1 and acorns are not available in Austria I don't know why .. what do you think about eToro I need to know your opinion about them because I don't trust this app

    • @josephhogue
      @josephhogue  5 років тому +1

      eToro has been around a while though I haven't tested it yet. I know Robinhood just got approved for the UK so might not be long before it's there.

  • @chatview4160
    @chatview4160 5 років тому +1

    Hi, thanks for the videos
    Does anyone knows if Mfinance has a mobile app, like robinhood does?
    Thanks

    • @maruz3729
      @maruz3729 5 років тому +2

      Fascinating Reality J it has go to App Store

  • @steviedee9344
    @steviedee9344 4 роки тому

    Thanks for the info.

  • @musiqbox7315
    @musiqbox7315 5 років тому +1

    am in africa Ghana to be precise how can i invest in such free apps

  • @razorr06
    @razorr06 5 років тому +1

    These app are for US only , how can i invest if i from Europe ?

    • @josephhogue
      @josephhogue  5 років тому +1

      Robinhood just got approved for the UK and soon for Europe. I know eToro and Firstrade are also available in most countries there.

    • @gestroud
      @gestroud 5 років тому +1

      @@josephhogue I've come to prefer Firstrade over Robinhood for a variety of reasons, but still use it as well as M1

  • @4712Vernon
    @4712Vernon 5 років тому +1

    Semper Fi brother

  • @tonydeadlock
    @tonydeadlock 5 років тому +6

    Acorns I like the least you made a dollar they take a dollar.

    • @WW-34
      @WW-34 5 років тому

      tonydeadlock
      I lost so much money through Acorns. I closed my account. I can buy those 8 funds easily somewhere else and they aren’t that great anyway.

  • @devans4213
    @devans4213 5 років тому +1

    I'll stick with E-tarde

    • @josephhogue
      @josephhogue  5 років тому

      I've got ETrade as well but that $5 commission is rough when I'm buying monthly.

  • @titusprasad_b5829
    @titusprasad_b5829 5 років тому +1

    I'm from India can I invest in this apps

    • @josephhogue
      @josephhogue  5 років тому

      I know Robinhood is expanding aggressively (recently approved in EU) but not sure what's available in India. Anyone else know?

    • @titusprasad_b5829
      @titusprasad_b5829 5 років тому

      Let's Talk Money! with Joseph Hogue, CFA ok sir

  • @AK-ky3ou
    @AK-ky3ou 5 років тому +1

    Isn’t acorns not free?

    • @AK-ky3ou
      @AK-ky3ou 5 років тому +1

      Spoke to soon. Still it isn’t free and actually quite expensive aum fee wise with a small $ portfolio.

    • @josephhogue
      @josephhogue  5 років тому

      It is more expensive until you get over that portfolio size. I recommend transferring in enough that the expense fee is negligible.

  • @jamiereifert2824
    @jamiereifert2824 3 роки тому

    I can say from experience that Robinhood blows. Horrible customer service etc...

  • @Blackjesussp
    @Blackjesussp 5 років тому

    What happen to #StashApp 😳😳😳😳❓💬❓💬💭❓❓

  • @ForeignGalaxy
    @ForeignGalaxy 5 років тому +2

    I wouldn't trust my money to Robin Hood. He never helped anyone with money to get richer.

    • @josephhogue
      @josephhogue  5 років тому

      Funny. But what about the website?

  • @nathanieldelatorre3655
    @nathanieldelatorre3655 3 роки тому

    DON'T GET ACORNS ITS A SCAM!!!!