Cheapest Way to Buy Stocks Online

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If you’re looking for the cheapest way to buy stocks online, you’re in the right place. For those who are willing to invest, stocks present an entirely new method of making money.

Instead of trading one’s time for money, stocks allow investors to trade their money for more money. This is the magic concept that enables the rich to get richer; wealthy individuals use the power of money to make more money. It’s simple and brilliant.

Of course, buying stocks doesn’t always result in success. During any investor’s career, there will almost always be drawdowns. This is why it is paramount to find the cheapest way to buy stocks, because overpaying for broker fees and commissions is a surefire way to embark down a money-losing path.

So What’s the Cheapest Way to Buy Stocks?

As of the current moment, the cheapest way to buy stocks is with Ally Invest. In order to buy stocks online, you’ll need to open an online brokerage account.

Among every online stock broker with 24/7 customer service, Ally Invest has the lowest fees. They also have outstanding 24/7 customer service, free trading tools, robust browser-based investing platforms, and a suite of free investing guidebooks.

Other Cheap Ways to Buy Stocks

Although there are brokers out there that lure customers with “free” trades, i.e. Robinhood, if you’re serious about investing, we do not recommend Robinhood or any similar service.

It is worth it to may $3.95 and do business with a reputable institution, have access to support 24 hours a day, and not be subjected to any hidden fees. On the surface, Robinhood’s free trades seem like a no brainer. However, during our review, we discovered numerous hidden and unknown fees for simple services that other online brokerages offer for free.

A perfect example of this is margin trading. With Robinhood, if you want to trade on margin, you have to pay a monthly fee. Trading on margin does not neccesiarly mean using leverage. If you plan on buying a stock, selling it, and then buying another stock within a timespan of three days, you’ll need a margin account or you will be trading on “unsettled funds.”

This is known as freeriding, and it is not permitted by the SEC or FINRA.

Bottom Line

Long story short, there is a fine line between not paying at all to buy stocks online and paying way too much. The goal is to find the happy medium, where you aren’t overpaying but are also not sacrificing quality in the name of saving a few dollars.

This is why Ally is perfect. The blend of quality brokerage services and low price is unbeatable.

OPEN AN ACCOUNTgo to Ally Invest’s site & save
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