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!
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
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.
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.
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.
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 😉
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.
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
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.
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.
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).
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?
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.
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?
@@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.😎
@@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
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.
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
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.
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?
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.
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.
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.
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.
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.
@@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 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.
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
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.
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?
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.
@@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!
@@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.
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 $)
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.....😑
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.
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!
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
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.
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
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
Acorns is free ? I though Acorns charges 1 per month?
Great vid! Recently opened an M1 finance account for IRA with $200. Currently 50/50 with $NCMI and $OCSL.
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!
I assume you meant Robinhood for the second one
@@Jdb63 Yup, good catch, just fixed it. Thanks!
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
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.
that would be awesome if you had the ability to round up into your cash reserve account!
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.
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.
Hi Joe, now in 2020, with Robinhood now offering fractional share investing and automate pay features what you think about the app?
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 😉
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.
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.
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
Yeah I'd have to disagree. Robinhood is the best swing trading you're gonna get for free
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.
LOL. Does Kutcher promote Acorns?
@@josephhogue Yup! He has a stake in Acorns :)
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.
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).
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?
Great overview Joseph! I really enjoyed this.
Love your videos Joe! Thank you for sharing your wealth of knowledge and experience. :)
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.
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?
@@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.😎
@@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
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.
I have heard a lot of bad things about robinhoods options trades. Not closing positions properly, trouble getting ahold of people.
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
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.
I use Robinhood and M1 Finance only
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?
I have been using Robinhood for a while and just started using webull
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.
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.
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.
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.
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.
@@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.
@@jimmyjack7030 what made you choose a coal mine as an investment?
@@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.
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
Robin Hood now has fractional share purchase : )
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.
Good point. Something I didn't really say much about but nothing wrong in using them both to get the benefits of both.
Great overview on these investing platforms Joseph! 👍
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?
FYI, I don't plan on continuing to contribute to this traditional IRA. Just looking to invest it and leave it alone.
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.
@@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!
Any opinion on apps/sites open to Europe? I'm using degiro. It's basically free. They charge .55 / trade
Heard Robinhood just got approved for the UK and I know eToro is popular there.
What is your opinion on Firstrade?
Hadn't looked at it yet. What is it you like about the platform? What features do they offer?
@@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.
Doesn’t M1 finance charge .35% of your assets yearly as maintenance fee since it’s an automated system? 🤔
No, you might be thinking of some of the robo-advisors.
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 $)
I like Robinhood and M1 Finance if they're available.
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.....😑
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.
I would like to know if you can invest in these platforms in you're in uk, thanks
Heard Robinhood just got approved yesterday to open in the UK.
Thanks
Wealthsimple is the best for us Canadians.
Similar to Acorns but without the savings tool, but yeah I like WealthSimple too as a basic robo-advisor.
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!
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
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.
Hi, thanks for the videos
Does anyone knows if Mfinance has a mobile app, like robinhood does?
Thanks
Fascinating Reality J it has go to App Store
Thanks for the info.
am in africa Ghana to be precise how can i invest in such free apps
These app are for US only , how can i invest if i from Europe ?
Robinhood just got approved for the UK and soon for Europe. I know eToro and Firstrade are also available in most countries there.
@@josephhogue I've come to prefer Firstrade over Robinhood for a variety of reasons, but still use it as well as M1
Semper Fi brother
ooh-rah!
Acorns I like the least you made a dollar they take a dollar.
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.
I'll stick with E-tarde
I've got ETrade as well but that $5 commission is rough when I'm buying monthly.
I'm from India can I invest in this apps
I know Robinhood is expanding aggressively (recently approved in EU) but not sure what's available in India. Anyone else know?
Let's Talk Money! with Joseph Hogue, CFA ok sir
Isn’t acorns not free?
Spoke to soon. Still it isn’t free and actually quite expensive aum fee wise with a small $ portfolio.
It is more expensive until you get over that portfolio size. I recommend transferring in enough that the expense fee is negligible.
I can say from experience that Robinhood blows. Horrible customer service etc...
What happen to #StashApp 😳😳😳😳❓💬❓💬💭❓❓
I wouldn't trust my money to Robin Hood. He never helped anyone with money to get richer.
Funny. But what about the website?
DON'T GET ACORNS ITS A SCAM!!!!