Investment Platform Recommendations

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Option 1: Webull

Traditional Trading Account

Our Review:

Promotion Details:

  • When you open an account through this link:
    • You receive a random free stock valued between $3-$300
  • When you make an initial deposit of $5 or more within 30 days:
    • You receive a second free stock valued between $8-$2,000
    • We receive $30 that we donate

What we like:

  • Great for beginners or experts
  • Fractional shares just launched, enabling investing for as little as $5
  • Traditional, basic investing functionality
  • Free trading & no minimum balance
  • Stocks, ETF’s, & crypto trading
  • Both regular & retirement accounts
  • Customer service seems good
  • Mobile account opening & trading is simple
  • Interface is easy enough, but still serious (not gamified)
  • Extensive research tools for advanced investors

Drawbacks:

  • Only available in United States, India, Brazil, Turkey, the Philippines, Malaysia, Japan, China, and Korea for now
  • No cash checking
  • Extensive tools might be a little overwhelming at first
  • Relatively new institution

 

Option 2: M1 Finance

Assisted & Automated Trading

Our Review:

Promotion Details:

  • When you open an account with $1,000 through this link:
    • You receive $30
    • We receive $100 that we donate

What we like:

  • Great for beginners or experts
  • Automated investing made very easy with auto-transfers, auto-invest, and auto-rebalancing, on fully customizable portfolios down to specific stocks
  • Removes the intimidating process of placing trades
  • Build an investment portfolio of stocks & ETF’s by choosing what percent you want in each investment, not by purchasing individual shares.
  • Or choose any pre-designed portfolios
  • You’re always 100% invested
  • Helpful growth projections
  • No management or trading fees
  • Both regular & retirement accounts
  • One-stop-shop with checking accounts & loans with solid rates
  • Mobile account opening is simple
  • Responsive customer service over email, available for 1-on-1 tutorials

Drawbacks:

  • US-Only
  • $100 minimum balance
  • Unique interface takes a couple days to get used to
  • No live customer service chat
  • Relatively new institution with small asset size

Other platform options

We chose our two partners above very carefully, but by no means are they the only options out there. We reviewed both for months and outlined the pros and cons of each in hopes of providing you with a framework for your decision. We wanted our first recommendations to maximize value to our users (free cash & stock), create impact value (cash to donate), and demonstrate the integrity of our recommendations.
At the end of the day, it’s all about what’s right for you. If you’re just buying basic funds and stocks to hold for the long term, you can do that almost anywhere. Just find a respectable institution that charges no fees and has an interface that you don’t hate using. You want to feel comfortable using it. We would encourage you to consider some of the other big institutions as well, like Fidelity, Charles Schwab, Vanguard, E-trade, Chase, Ally invest, etc.

For more information on how we’re donating our referral payments, head over to our #InvestingFor page

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Let us know when you start the process, and we'll be available for all your questions. You got this!

How does Share Scoops make money?

We’re bootstrapping it so far, focused on building a platform to positively impact as many people as possible. We’re generating revenue from the sale of our investing videos.

Our intention is to align our revenue with our mission. If we can help people build confidence to start investing, everybody wins. Ultimately, we’ll be curating additional financial services to help our users take action, but we want to put our first dollars to work helping create a more inclusive economy.

We want to do well by doing good. So we’re integrating a philanthropic component into our business right from the start. We think that if we can provide real value to people, the mission will catch on.

Disclaimer & Additional Information
Share Scoops LLC is not a registered investment, legal, or tax advisor; or a broker/dealer. All investment/financial opinions expressed on this site or in our content are based on personal research and experience and are intended as educational material only. Although best efforts are made to ensure that all information is accurate and up to date, occasionally unintended errors and misprints may occur. Investing involves risk. The value of your investments will fluctuate over time, and you may gain or lose money. Investing is serious stuff. Invest at your own risk.