I recently stumbled on an investing app called M1 Finance. It’s a free to use brokerage that offers both mobile and web trading tools. As of this writing I have not invested in my account but did set up a trading plan.
M1 offers investors the ability to create a portfolio where money is invested across a basket of stocks. You create slices of a pie and assign a percentage of your money across your pool of equities.
Below is an example of a trading strategy I am considering:
- You can own partial shares, no need to save up a month for 1 stock of Amazon
- Auto investing allows for the power of dollar-cost averaging
- Easy to use