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Investment accounts provide an opportunity to participate in the financial markets. It is essential to remember that investments carry risks, and returns are not guaranteed. Conducting thorough research and utilizing suitable tools can aid in making informed decisions.
In this article, we will analyze some of the major investment accounts for 2023 by taking into consideration several criteria – like costs, intuitiveness and variety of features. The result is a list of reliable and secure accounts able to satisfy any type of investor.
Contents
What is an investment account?
Investment accounts are those accounts that allow you to buy, sell and hold different types of assets. The value of your investment account can vary – especially according to your portfolio.
Investment accounts can be opened thanks to brokers, and the digital era brought new and countless opportunities that can meet the needs and goals of any investor – as we will see, also those who don’t have large budgets.
Investment accounts can be hosted by brokers that focus on specific assets, or by brokers that want to offer you a great variety of choices.
We considered a host of factors, including the variety of assets available for trading, when building our list of investment accounts to consider in 2023. Go on reading to discover top accounts – as well as some additional info that can help you resolve any possible doubt.
What are the best investment accounts for 2023
If you’re planning to start – or continue – your journey as an investor or trader in 2023, stockhax.com prepared for you a list of investment accounts you can consider using. For some of these platforms, you’ll also find our complete guides and reviews, so you’ll really know everything you need to know before choosing the right tool for you.
1. eToro
eToro’s platform is widely considered to be easy to navigate with a friendly user interface (UI).
There are no fees for trading or to open an account, and there are just a few steps you need to follow to open your investing account:
- Provide your personal information to comply with KYC (Know Your Customer) rules,
- Fill the questionnaire to help the platform assess what is your level of experience in investing and offer you the best options available.
On eToro you can trade in CFDs – Contracts For Difference. These contracts represent an agreement between you and the broker and they make reference to an underlying asset (for instance, stocks or cryptocurrencies). You won’t really own the underlying asset.
Everyone can invest with eToro, despite their level of expertise. For the most experienced traders and investors, and especially for those who have a considerable amount of money in their accounts, eToro offers several perks.
Moreover, you can benefit from its copy trading feature and rely on professional investors. The process to select traders and investors that can make available their portfolios for copy trading is severe – and it can also be really profitable for these experts, who need to prove they’ve reached positive results with their strategies.
There is also a demo account available, so you can test your strategies without having to risk real money.
2. Wealthfront
Wealthfront is one of the most popular platforms for those who are looking for a robo advisor.
Robo advisors are similar to financial advisors, but they’re robots instead of humans.
Despite this, Wealthfront has a professional staff to support the strategy of the platform: it mainly focuses on ETFs (Exchange Traded Funds) and diversification.
You’ll need to answer a few questions first: the algorithm will understand the level of risk you can accept, as well as to better allocate the amount of money you can invest.
You need at least $500 to start and fees are extremely low – 0.25% per year. The algorithm, over time, adjusts itself to perform according to your budget.
3. Robinhood
Robinhood offers a wide range of investments and an intuitive interface.
You can get started trading by funding your account with as little as $1.
There are no trading fees you need to pay directly, but the platform uses a spread-fee model based on the difference between buy and sell prices.
Moreover, Robinhood keeps you constantly updated on the performance of your portfolio.
You can choose to trade ETFs, stocks, cryptocurrencies, options – plus some more sophisticated assets.
If you’re a new user and link your bank account, you’ll receive a little gift that you can use to start investing on the platform. Robinhood’s mobile app offers many of the tools and features that traders expect. Users appreciate the responsiveness of customer service.
4. Crowdcube
Crowdcube is extremely popular in Europe.
This UK-based platform pays attention to both investors and businesses. It works like a crowdfunding platform where European businesses can find a home to raise funds.
Investors, who can easily sign up and start operating with their investment accounts, can navigate all the different businesses available on the platform, choose the ones they prefer and start investing.
You will get shares of that company, with the related certificate. In fact, in this case, differently from what happens with CFDs, for example, you can’t buy a fraction of the share, so the amount you want to trade will depend on the price of the share.
Crowdcube requires businesses to share all the information that can be useful for investors, in order to make them take informed decisions, as well as updates.
Moreover, Crowdcube includes Cubex, where you can express your interest to buy or sell specific shares when there are no more crowdfunding campaigns available for that company.
5. DEGIRO
DEGIRO is another popular broker in Europe.
Also in this case, set up your account in a matter of minutes and begin trading once your account is activated:
- Share your personal info,
- Link a bank account,
- Make a deposit (there is no minimum amount) to activate your account,
- Answer the questions asked by the platform to activate specific trading settings.
This broker is particularly popular for its low fees compared to other brokers and for offering a wide-range of assets to invest in for traders of all skill levels.
DEGIRO is focused on the European market – it is available in the UK, Greece, Italy, Spain, Germany, and Poland.
With DEGIRO, you can invest in stocks, ETFs, options and futures (the last two are available according to your account), but you can’t trade CDFs, Forex and cryptos.
Another pro of DEGIRO is that there are no inactivity fees. Moreover, you’ll find a news feed – with a section dedicated to your market of reference.
6. Capital.com
Capital.com is widely known for the variety of CFDs it offers.
First off, it is important to know that Capital.com offers a demo account – something really useful for beginners or for those who want to test their strategies and better understand how to benefit from all the features of the platform.
There is a minimum deposit of $20, then you can start trading in CFDs and real stocks. Crypto CFDs are available – almost 500 cryptocurrencies – but, being contracts riskier than stocks, they’re only available for UK professional traders.
Capital.com is regulated and reliable, and one of its best advantages is that there are no trading fees.
7. NAGA
NAGA is loved for many reasons, especially by beginners:
- There are over 1000 CFDs available,
- It offers many payment methods,
- NAGA offers margin trading,
- It’s regulated and available in 100 countries,
- The mobile app is user-friendly,
- It has a demo account.
NAGA managed to be trusted by over 1 million clients.
Conclusion
Choosing the right investment account based on your needs could make the difference between a smooth and a tough investment experience.
Security is one of the top features to be aware of when choosing an investment platform: find a broker whose investment accounts make security a top priority.
In any case, consider your personal risk/reward profile when choosing assets to invest in.
FAQ
Before choosing the best investment account, there are a few questions you should ask – and answer – to determine if an investment account fits your needs.
Investing can begin at any stage in life. The purpose of investing is to diversify financial assets, create a well-rounded financial plan, and be prepared for potential economic fluctuations. Essentially, it is a strategy to better manage and allocate resources in the financial landscape.
Today, the financial space is so variegated and sophisticated that there are countless financial instruments. At the same time, all the different investing platforms born thanks to the web, always offer instruments that can also meet the needs of those who have low budgets. In fact, as we showed in our list of best investment accounts, most times there is no minimum amount to invest.
There are a few factors to consider before choosing the right investment account:
* It should meet your goals and needs,
* Costs should be low,
* The platform that host your investment account must be secure and reliable,
* The broker should be regulated,
* It should be intuitive, to allow you to make decisions faster,
* It should be associated with different features, like news and demo accounts, especially when you’re a beginner.
StockHax strives to provide unbiased and reliable information on cryptocurrency, finance, trading, and stocks. However, we cannot provide financial advice and urge users to do their own research and due diligence.
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