With the ease of online trading, the number of cheaters has increased. In 2020, the FBI reported 791,790 complaints about online phishing scams, stealing more than 4.2 billion USD from American consumers. These scammers ask for account details from fake links or websites with a familiar name. Many promise lucrative returns – but beware! The best way to stay safe is to be as thoughtful as possible, and don’t give in to the temptation of unreal offers.
Many trading apps feature a demo account so you can check out the features of the app without risking real money. This is especially useful if you are a complete newbie and don’t want to risk your own funds. Many platforms also offer different investment styles, and you can choose which ones are right for you by considering the fee structure. Some brokerages offer commission-free accounts, while others charge a minimum deposit of $500.
Another popular app for investing is SoFi. The app was developed to be an all-in-one financial community. Along with stock trading, it also offers mortgages, private student loans, and credit cards. If you’re an active trader, consider the Power E*TRADE app. Both apps are free and easy to use. They let you copy verified eToro investors. These investors will be your inspiration to make smart trades.