As interest rates have dropped to basically zero percent or close to this, many have switched their focus away from savings accounts in search of other forms to grow their wealth.
A popular option is to open a brokerage account there has been a huge surge in commission-free investing platforms over the last couple years especially in the UK and across the pond in the US.
PLATFORMS THAT OFFER FREE STOCKS
These platforms are not only commission-free but offer incentives to attract you to their platform. These are often in the form or free shares when you sign up. In this
Trading 212 is an absolute juggernaut in this space. They have also been around for many years established in 2004 they have probably had the biggest head start to refine their platform. It’s my favourite on this list. Trading 212 covers all the basics, fractional shares and advance features including limit orders, stop losses and stop limit. A superb feature they released in 2020 is the ability to create your own investing pie for those who are into dollar-cost averaging it’s a great option.
As you probably already know that all the platforms on this list are commission-free. What sets Trading 212 apart is they charge a low FX fee if 0.15% on international stocks. If you decide to sign up using my link, you will get a free share worth up to £100. Some good ones I’ve had in the past are AstraZeneca, Starbucks and AMD.
Stake is another good option great for day traders and those who are interested in only US stocks and ETFs. they have been around for several years in Australia however, they are fairly new to the UK market. This is another well-polished platform I would recommend. They have a freemium model going on. The free option has all the essentials like fractional shares, limit & stop orders. The Black plan (premium tier) has more information such as analysis ratings and pricing targets to help give you more information.
When you sign up to STAKE and fund your account in the first 24 hours, you will get a free stock in either GoPro, Dropbox or Nike.
Freetrade is another good option to get started. This platform is by far the simplest and the easiest to use. The minimalist design with the bright pink colours will be sure to draw the attention of hipsters, newbies and casual investors.
This app uses a freemium model offering basic features in a GIA account for free. You can also step up to the Freetrade plus tier which offers limit orders, access to more stocks and includes stocks and shares ISA account all for a monthly fee.
Overall, this is a great platform to get started if you choose to sign up whether it’s the free option or the premium you’ll get a free stock worth between £3-£200 when using this link.