Searching for the different types of online investing platforms available? Well, these days finding ways to invest are way easier than ever before because of the ever-changing technology. It’s not only because of the availability of the internet but due to the evolving thinking & usage capabilities of the internet while at the same time trusting and handling things in a more efficient way.
However, selecting the best type of investment platform takes a lot of research whether it will aid you in fulfilling your investment goals or not, etc.
With easy access to internet facilities and the availability of different types of online investing platforms, it can be a little tough for investors to choose the one that works best for them.
Why we are talking about the internet?
All this buzz about the internet was only because these factors play a very important role to keep in mind while choosing different investment platforms. On account of the availability of so many options among online investment platforms out there that even small differences like internet connection stability can make a huge difference in trading.
The bottom line of all this discussion is – where you feel the most comfort in investing your money and from where you think you get the best possible return.
What are the categories of Investment Platforms?
Before choosing online platforms, let’s break these platforms into 3 distinct categories:
Let’s understand all these investment categories one by one:
➤ Online Investment
Online investment platform services offer reasonable traditional brokerage full services who usually have very strong reputations established over a number of years. This is the most traditional way to start investing independently ( if you don’t hire a broker to manage your investment portfolio).
Few examples of online investment platforms are eToro, E*Trade, Fidelity, Ally, TD Ameritrade, etc.
➤ Mobile Investment Platforms
A mobile investment platform refers to a new-age investment platform. It’s a kind of an accessibility upgrade of online investment platform services through mobile. Actually, the services of online investment platforms emerged as applications so that all features of online investment platforms can be accessed through mobile. It is considered a better option for a young audience seeking an easy and cheap means to create portfolios that represent independent trading of the future.
Few popular examples of mobile investment platforms are Acorns, Stash, Robinhood, etc.
➤ Fringe Investment Platforms
Fringe investment platforms are not even considered as an investment by most. Its platforms do not represent a traditional investment. Fringe investment is considered a higher-risk option because it is more of betting than informed trading. Although both factors are readily available and interesting, they serve a wide number of users, especially teenagers. Therefore, fringe investment is not recommended as an actual investment option, they are significant enough to be mentioned as a fringe alternative.
Note: Fringe investment platforms are not considered accountable from an investment point of view.