For recurring investments, the best broker should offer a combination of low fees, automatic investment options, and a good return on cash balances. Based on the provided information and my knowledge, the following brokers are suitable for recurring investments:
- M1 Finance: M1 Finance is often mentioned as one of the best automatic investment apps, with features like Auto-Invest and smart rebalancing. It has low fees and supports various account types, including Roth IRAs1.
- Charles Schwab: Charles Schwab is known for its robust online trading platform and offers a free robo-advisory service, Intelligent Portfolios, for accounts with at least $5,000. It also allows for recurring transfers and has a wide range of investment options1.
- Fidelity Investments: Fidelity provides a Recurring Investments feature that allows for automated investing on a schedule, with options for stocks, mutual funds, ETFs, and Fidelity Basket Portfolios. It also offers a high yield savings account and no commissions for online US stock and ETF trades2.
- Interactive Brokers: Interactive Brokers offer a Recurring Investments feature that allows for automated trading based on a predetermined strategy, including fractional shares trading to increase investment flexibility3.
- Webull: Webull is praised for its user-friendly interface and offers a recurring buy feature for stocks and ETFs, as well as a high interest rate on cash balances4.
These brokers are not only suitable for recurring investments but also offer various tools and features to help investors automate their investment strategies and maximize returns. It's important to consider your specific needs and preferences when choosing a broker, such as fees, investment options, and customer service.
8/9/2024 04:02am
