Last Updated on January 15, 2019 by Sultan Beardsley
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Opening a stock portfolio has become increasingly easy and accessible. With many mobile brokerage applications and electronic trading platforms, it’s as easy as entering a social security number, some basic information, and a connecting a bank account.
Today we will be discussing stockpile, a mobile broker that helps you along every step of investing. Stockpile is by far one of the most user-friendly and intuitive trading platforms for new investors. With option of opening a custodial account, even if you’re not 18, you can begin investing with stockpile.
The premise of Stockpile is investing (purchasing equity) in company’s that you love. From the second your portfolio is set up and active, it will prompt you with a couple of categories and sectors in the stock market that you may be interested in investing in. For example, if you’re a technology lover, you can go to the technology category and pick from many tech companies that are publicly traded. They offer biotech, pharmaceutical companies, technological companies, retail, and much more. Stockpile makes it very simple. You don’t have the ability to trade options, average up or down, nor limit a sale/buy. You can buy and sell stock, that’s all.
This is very beneficial to a new investor for it’s the most simple way of investing. When you’re merely buying and selling, primarily, you will buy stock for long-term gain as opposed to a short-term play such as trading. Limiting their users to buy and sell functionality promotes investing as opposed day-trading.
The difference between trading and investing is fairly simple; when trading, you’re actively moving money around in the market, whether that be through buying and selling options, swing trading, or doing short-term plays. Investing is pretty much buying and holding equity in a company. When investing, you’re most likely to hold a stock in your portfolio for at least 3 months. Stockpile has successfully created an investing platform that really helps you understand has to invest and the benefits from doing so. Investing has much less risk than trading thus making it a better opportunity to start developing your stock market acumen.
At the end of the day, if you’ve made a Facebook account, you will be able to open a portfolio through stockpile with ease. If you are looking for an easy entry into the world of investing, stockpile offers a great service to get you started.