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I actually switched most of my "real" investing to https://www.m1finance.com/ https://www.m1finance.com/ a few months ago. It is also commission-free, but unli
by shireboy 7y ago
I actually switched most of my "real" investing to https://www.m1finance.com/ https://www.m1finance.com/ a few months ago. It is also commission-free, but unlike Robinhood you can do IRAs as well as taxable accounts, and it automatically reinvests dividends. One interesting difference is that they limit buys/sells once daily (twice if you pay a small monthly fee). Day traders won't like this, but for buy-and-hold investor not trying to time the market to the minute it makes sense to me. As a developer I'd think it has to be easier to code than real-time. I feel like it's essentially a cheaper Betterment/Wealthfront. I keep a taxable "short term savings" account in 90%bonds/10% stocks, and then my IRAs in 10%bonds/90%stocks.
I was a little concerned they were front-loading orders. Still a valid question, but they say no: https://www.m1finance.com/blog/how-m1-makes-money/ https://www.m1finance.com/blog/how-m1-makes-money/
Not to be too spammy, but here's a referal link if you want the 10$: https://mbsy.co/swlqd https://mbsy.co/swlqd