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WSJ vs Economist: Which One Should You Read?

Reading Time: 3 minutesWith so many newspapers and magazines available today, deciding which one to read can be challenging. Two popular options that often come up in discussions are WSJ (Wall Street Journal) and Economist. Both newspapers offer excellent coverage of global events but have different perspectives and writing styles. This article will look closer at WSJ vs Economist and help you decide which one to read. WSJ vs Economist: Overview The Wall Street Journal is an American business-focused newspaper that was founded in 1889. It is known for its in-depth business, finance, and political coverage. The newspaper has won numerous awards for its journalism and is widely regarded as a reliable source of information. Economist, on the other hand, is a British weekly newspaper that was founded in 1843. It covers various topics, including world news, politics, business, finance, science, and technology. The Economist is known for their analytical and opinionated writing style and has a global readership. Writing Style and Perspective WSJ has a straightforward and factual writing style that is easy to read and understand. The newspaper’s perspective is generally conservative and tends to support free-market capitalism and deregulation. WSJ’s editorials often take a pro-business stance, and the newspaper is known for its coverage of the stock market and financial news. Conversely, the Economist has a more analytical and opinionated writing style. The newspaper’s perspective is generally liberal and tends to support government intervention and regulation. Economist’s editorials often take a critical stance on global issues, and the newspaper is known for its coverage of international news and politics. Content Coverage WSJ covers many topics, including business, finance, politics, technology, and entertainment. The newspaper has a strong focus on the US market, but it also covers global events extensively. WSJ’s business and finance coverage is particularly strong, and the newspaper is widely regarded as an authority on these topics. Economist covers a broad range of topics as well, including world news, politics, business, finance, science, and technology. The newspaper’s coverage of international news is particularly strong and is known for its in-depth analysis of global events. Economist’s business and finance coverage is also excellent, and the newspaper is widely regarded as an authority in these areas. Design and Layout WSJ has a clean and simple design that is easy to navigate. The newspaper is known for its use of charts and graphics to illustrate complex data and trends. WSJ’s layout is optimized for digital reading, and the newspaper has a mobile app that allows readers to access content on the go. Economist’s distinctive design features a red banner across the top of each page. The newspaper is known for using cartoons and illustrations to convey its messages. Economist’s layout is optimized for print reading, but the newspaper also has a mobile app and a digital edition that readers can access online. Subscription and Pricing WSJ offers a variety of subscription options, including print, digital, and combination packages. The newspaper also offers discounts for students and educators. The pricing for WSJ subscriptions varies depending on the type of subscription and the duration. Economist offers both print and digital subscriptions, as well as a combination package. The newspaper also offers discounts for students and educators. The pricing for Economist subscriptions varies depending on the type of subscription and the duration. Conclusion WSJ and Economist are excellent newspapers offering in-depth coverage of global events. WSJ is known for its business and finance coverage, while Economist is known for its coverage of international news and politics. The choice between the two newspapers ultimately depends on your personal interests and reading preferences. If you’re interested in business and finance, WSJ may be your better choice. If you’re interested in a broad range of topics and want a more analytical perspective, Economist may be the better choice. However, both newspapers are worth reading if you want to stay informed about global events. If you are interested in other comparisons for The Wall Street Journal, read more about FT vs WSJ or Barron’s vs WSJ. FAQs

FT vs WSJ: Which Newspaper is Best for Business News?

Reading Time: 2 minutesAs a business professional, it is essential to stay up to date on the latest news and trends in the industry. The Financial Times (FT) and The Wall Street Journal (WSJ) are two of the most widely read newspapers when it comes to business news. Both newspapers have a loyal following, but which one is better? In this article, we will compare the FT vs WSJ to help you decide which newspaper is best for your business news needs. Introduction The FT and WSJ are two of the most respected and widely read newspapers in the world. They both have a reputation for providing high-quality business news and analysis, but they have their own unique strengths and weaknesses. The FT is known for its global coverage and in-depth analysis, while the WSJ is known for its breaking news and coverage of the US markets. In this article, we will compare the two newspapers across several categories to help you make an informed decision. FT vs WSJ: A Head-to-Head Comparison Coverage The FT and WSJ both have extensive coverage of business news, but the FT has a more global perspective. The FT has a network of correspondents and reporters around the world, providing in-depth coverage of international business news. The Wall Street Journal, on the other hand, has a strong focus on the US markets and economy. Winner: FT Breaking News The WSJ is known for its breaking news coverage, particularly when it comes to US markets and politics. The WSJ’s reporters are often the first to break major news stories, and the newspaper has a reputation for being fast and accurate when it comes to breaking news. The FT, on the other hand, is known for its in-depth analysis and commentary, and it is less focused on breaking news. Winner: WSJ Analysis and Commentary The FT is known for its in-depth analysis and commentary, with a team of expert journalists providing insights and perspectives on the latest business news. The newspaper’s opinion section is highly regarded, and its journalists are often called upon to provide expert commentary on business news stories. The WSJ also has a strong opinion section, but it is more focused on US politics than on business news. Winner: FT Design and Layout The FT and WSJ both have clean, professional designs, but they have different styles. The FT has a more traditional design, with a focus on text and analysis. The WSJ, on the other hand, has a more modern design with a focus on visual storytelling and data visualization. Winner: Tie Digital Experience Both the FT and WSJ have digital editions, but they have different approaches. The FT has a paywall, and readers must subscribe to access its digital content. The WSJ also has a paywall, but it offers a freemium model, allowing readers to access a limited amount of content for free. The WSJ’s digital experience is more focused on breaking news and real-time updates, while the FT’s digital experience is more focused on analysis and commentary. Winner: Tie Price The FT and WSJ both have premium subscription prices, with the FT being slightly more expensive. However, both newspapers offer discounts for students and educators. Winner: Tie FAQs

The 5 Best Penny Stocks Discord Servers for 2023

Reading Time: 4 minutesPenny stocks are a viable option for eager traders looking to diversify their investment portfolios. Penny trading, or penny stocks, involves purchasing and selling stocks from small publically-owned companies for less than a dollar per share.  The biggest appeal to penny stocks is that they are relatively low-risk options. Purchasing stocks for less than a dollar per share involves a significantly lower level of risk than investing in large conglomerates, where a share equals half a week’s wage.   The growing popularity of penny stocks and the free access to information online paved the way for the so-called Penny Stock Discord Servers to enter the trading stage. Like our Stock Discord Groups and Swing Trading Discord Servers guides, we’re here to bring you a guide on the best Penny Stock Discord Servers.  So, let’s dive in and see the available Discord Servers catering to the penny stock community.  The 5 Best Penny Stocks Discord Servers to Join While doing our research, we tailored our approach to Discord servers that were welcoming to beginner traders, had a fun and outgoing community, were interactive, and, of course, offered free trading advice. So, here are our top five best penny stocks discord servers to join for 2023: Prodigy Trading Prodigy Trading is a Discord community with more than 11,000 members. It is one of the biggest penny stocks Discord servers that fulfill our criteria. What puts Prodigy Trading on our list isn’t the size of its community but the focus on learning to trade penny stocks the right way.  Prodigy Trading offers its members alerts for the hottest penny stocks on the market and a nightwatch and premarket watchlist, which members can keep an eye on. In addition, Prodigy Trading offers several other types of trading alerts, including day trade alerts, options alerts, and crypto alerts. As of the current time of writing, Prodigy Trading offers free penny stock trading alerts, but there’s also the option to become a member and gain access to all membership channels.  Penny Stock Alerts Penny Stock Alerts is another penny stocks Discord community with over 15,000 members. Upon joining the server, members are welcomed into a vibrant community of like-minded traders passionate about penny stocks. The server boasts an active and knowledgeable group of moderators and members who actively share their insights, trade ideas, and strategies.  This collaborative environment provides valuable opportunities for learning and staying up-to-date with the latest penny stock market trends. Its real-time stock alerts set the Penny Stock Alerts Discord server apart. Members receive timely alerts on potential penny stock opportunities, including detailed analyses and explanations behind each alert. This allows traders to stay ahead of the curve and make informed trading decisions. Aurora Trading Aurora Trading is more than a penny stocks Discord server; it’s a community that trades options, stocks, crypto, and more! The Discord server has over 19,000 members and is run by several experts, each specializing in different trading niches.   Aurora Trading aims to facilitate long-term financial freedom for the community. They also aim to educate the community on how to make winning trades. The Discord server offers free penny stocks alerts, but there’s also the option to purchase a premium membership, which gives access to real-time entry and exit alerts, daily and weekly watchlists, live trading lessons, and more.  Trade Hub Stocks, Futures, & Crypto If you’re looking for a single place for all your trading needs, the Trade Hub Stocks, Futures, & Crypto Discord server offers a comprehensive package that covers various markets, including penny stocks, options, futures, and crypto. The Discord server has over 20,000 members and offers daily trade alerts for penny stocks and other investment options. Members receive timely alerts for day trades, swing trades, momentum trades, and more, providing opportunities to capitalize on different trading strategies. These alerts are accompanied by detailed analyses and explanations, giving traders valuable insights into the market dynamics and potential profit opportunities. In addition to the daily trade alerts, the “Trade Hub Stocks, Futures, & Crypto” Discord server also offers a premium membership option. This premium membership provides access to exclusive premium penny stocks trading signals, livestream trading sessions, and educational sessions. Moreover, members can interact with analysts who can guide them through trades, offering expert advice and insights. Penny’s Penny’s might be the biggest Penny Stocks Discord community, with over 35,000 members. The focus on penny stock trading separates Penny’s from other Discord servers. With that said, the server also likes to talk about cryptocurrency trading.  Regardless, Penny’s is the close you’ll get to a Discord server that focuses exclusively on penny stocks. The community of like-minded individuals and experts welcomes beginner traders and encourages learning before trying to trade penny stocks.  On the Penny’s Discord server, you will find all kinds of educational materials, from candle stick trading charts to understanding the basics of penny trading. The Discord channel is laid-back and members are outgoing. In addition, there are several chatrooms where members can chat about random things or have penny stock discussions.   Conclusion That concludes our list of the five best penny stocks discord servers for 2023. Like our other trading and Discord-oriented guides, we look to provide readers with options on particular trading niches. The rise of Discord as a platform paved the way for communities to gather and discuss the things they’re passionate about the most – in this case, Penny Stocks! Before joining one of these discord servers and investing based on their recommendations, we strongly encourage you to do your own research. FAQs

Wall Street Journal Review: Is WSJ Worth It?

Reading Time: 5 minutesIf you’re looking for fresh information from the world of business, finance, and general news, one publication to check out is The Wall Street Journal. But like other digital journals, WSJ isn’t free. While their website is freely available for anyone, you won’t get much information apart from headlines. That’s because you need to subscribe to the WSJ to read up on the news from relevant industries. Luckily, WSJ isn’t that expensive, but it does raise the question of, “Is WSJ worth it?” The WSJ is undoubtedly well ahead of the curve in adapting its online journal to the digital space. Considering we can turn to online resources for our daily news bits, the WSJ understands how to convey and deliver information online.  But when dealing with a journal and publication locked behind a paywall, more substance is required before paying for a monthly or yearly subscription. Our guide aims to explore the question, “Is WSJ worth it.” We will look at various aspects of the publication and give you a definitive answer.  Quick Summary: What Is the Wall Street Journal (WSJ)? The Wall Street Journal is an American (Dow Jones Company) business-focused, English-language daily newspaper and online journal. It was first published on July 8, 1889, and is headquartered in New York City. The newspaper is known for its in-depth international reporting and analysis of business, finance, and economic news and coverage of politics, technology, and lifestyle.  The Wall Street Journal has a reputation for providing high-quality journalism and has won numerous Pulitzer Prizes for its reporting over the years.  WSJ publishes six days a week and also has Japanese and Chinese editions. WSJ is one of the most popular and largest news publications in the United States, with estimates of around 2.8 million copies bought yearly.  Wall Street Journal Pricing The Wall Street Journal’s online edition operates exclusively on a subscription model. Subscribing to the WSJ gives you unlimited access to the journal’s stories, news, smartphone app, and other features. Let’s look at WSJ subscription plans.  WSJ Digital The WSJ Digital costs $2/month for the first year for first-time subscribers. After the first year, it will cost you $9.99/month. Here is what you’re getting with WSJ Digital: WSJ Digital Bundle The WSJ Digital Bundle includes all the perks of WSJ Digital plus others. The bundle costs first-time subscribers $4/month for the first year and a $19/month special offer afterward. Here is what you’re getting with the WSJ Digital Bundle: The WSJ Digital Bundle combines the best multiple online journals offer. The bundle is a joint cooperation between WSJ, Barron’s, and Market Watch to give readers unlimited access to news and stories from various industries. These are the current best rates WSJ offers to readers. Depending on where you live, these options might be unavailable, or you might encounter different prices.  WSJ Print Edition The WSJ Print Edition is available only to US and Asian markets. A printed edition of WSJ costs $12 for the first 12 weeks and $36.99 afterward, plus tax.  WSJ Corporate Subscriptions The WSJ also offers Corporate Subscriptions to groups of more than ten employees. You must create a corporate account to select the WSJ Corporate Subscription option.  What Does WSJ Offer? While the WSJ mainly focuses on business, finance, economics, and politics, it also has opinion, tech, markets, real estate, and lifestyle sections for its readers. Focusing on these other fields differentiates it from rivals and competitors like Barron’s. All in all, here is the type of content you can expect when subscribing to the WSJ: How to Subscribe to the Wall Street Journal? To subscribe to the Wall Street Journal, follow these simple steps: You can cancel your WSJ subscription at any time.  Wall Street Journal Review Summary – Is WSJ Worth It? The Wall Street Journal isn’t just a digital publication; it’s a well-respected news organization with coverage in multiple industries, including finance, business, economics, and more. The Wall Street Journal publishes news from these industries worldwide, and the organization’s high-quality journalism standards are no match for its competitors.  Subscribing to WSJ or purchasing the daily print edition are the only ways to gain unlimited access to all coverage. While it might be more expensive than similar publications, many readers believe the depth and quality of its coverage are well worth it.  In summary, if you are interested in business, finance, and economic news and value high-quality journalism, insightful analysis, and trusted reporting, the WSJ is likely worth the investment. However, if you are looking for more general news coverage or have a limited budget, other news organizations may better suit your needs. FAQs

Prop Trading: Everything You Need to Know About Proprietary Trading

Reading Time: 3 minutesProprietary trading, prop trading for short, is a corporate financial trading strategy where businesses, companies, and financial institutions trade stocks, options, futures, and derivates using their own capital instead of funds from clients.  Prop trading presents these entities with an option to increase their profits significantly. However, the downside to prop trading is that entities use their own capital, which involves taking on significant risk.  This article will explore prop trading and answer everything you need to know about it. What Is Prop Trading? Proprietary trading involves trading financial instruments using a firm’s capital instead of trading on behalf of clients or customers. In other words, prop traders use the firm’s money to take positions in the market to earn profits for the firm, not from commissions by trading on behalf of customers.  Prop trading is a trading strategy that can be done in various financial markets, such as stocks, bonds, currencies, and commodities. Prop traders also use a variety of market strategies, including index arbitrage, merger arbitrage, technical analysis, and more.  Types of Prop Trading  Prop trading firms fall under three distinct types, each with its own approach and focus. The types of prop trading firms include the following: Traditional Prop Trading Firms Traditional proprietary trading firms are the most widespread and longest-standing type of prop trading. These firms utilize a combination of traders and firm capital to achieve their trading objectives. However, traditional prop trading firms are also the most restrictive type of prop trading, with firms adhering to regulations and certifications.  Prop Shops The second prop trading type is prop shops. Prop shops invest large amounts of risk capital in offering traders access to markets. With that said, prop shop traders aren’t required to have formal qualifications or certifications, but they must show a positive track record to engage in proprietary trading. Remote Prop Trading Firms Remote prop trading firms are online-based entities that offer individuals funded trading accounts to engage in prop trading. These firms operate remotely and do not require traders to have any qualifications, certifications, or even capital to trade. Many of these firms offer traders-funded accounts for prop trading activities.  How Does Prop Trading Work?  We’ve established what prop trading is, and we’ve explained the types of proprietary trading firms. Now, let’s look at how prop trading works. Prop trading works by leveraging the firm’s capital to take positions in the market. Traders use their knowledge of market trends and analysis to identify profit opportunities.  Proprietary trading can be done manually or through algorithmic trading. Proprietary traders may also use various trading strategies, such as long-term investments or short-term speculation, to generate profits. Pros and Cons of Prop Trading  Prop trading comes with several pros and cons. Let’s look at that: Pros of Prop Trading Cons of Prop Trading Considering the pros and cons is essential for gaining a surface-level overview of proprietary trading. For example, while prop trading profits are exceptionally higher than earning trading commissions, the potential losses are also much higher due to using the firm’s own capital.  Why Do Firms Engage in Prop Trading?  So that begs the question, why do firms engage in prop trading? Firms engage in prop trading for a variety of reasons, including:  Despite the potential risks and other cons involved in prop trading, prop trading is a highly popular trading strategy among financial films and commercial banks.  Conclusion Proprietary trading, or prop trading, is a type of trading where firms use their own capital to buy and sell financial instruments to earn profits for the firm. Prop trading is done in a variety of markets and involves leveraging the knowledge of market trends and extensive analysis. While prop trading offers potential rewards, it also comes with risks and regulatory oversight. Firms engage in prop trading for a variety of reasons, including generating profits and diversifying revenue streams. FAQs

Can You Have Multiple Robinhood Accounts in 2023?

Reading Time: 3 minutesA frequent question we come across is, “Can you have multiple Robinhood accounts?” It’s a simple “yes or no” question, and the simple answer is no; you cannot have multiple Robinhood accounts. After all, owning multiple accounts with Robinhood or any other broker-dealer sounds smart. After all, having multiple accounts can offer flexibility and allow you to diversify your investments.  But even though it’s impossible, investors are still eager to learn about potential workarounds and exceptions to the rule. So if you’re interested in that, this is the guide for you. In this guide, we will explain what investors need to know about the subject and answer whether or not it’s possible to have multiple Robinhood accounts in 2023. Can You Have Multiple Robinhood Accounts? According to the platform’s terms of service, each user is limited to a single brokerage account. This means you cannot open multiple accounts under the same name or with the same Social Security number. And that last part is important. To open a Robinhood account, you must add your Social Security number, which is a unique identification number only to you.  But if you’re familiar with online trading and have previously used other online brokerages, you might wonder if there are any exceptions to the rule.  Are There Exceptions to the Rule? Further scouting of Robinhood’s terms of service page shows us that there may be exceptions to the platform’s terms of service for having multiple accounts. For example, some investors may be able to open multiple accounts for business purposes, such as managing separate portfolios for different clients. However, these situations would likely require special approval from Robinhood and may not apply to individual investors. Some brokerage dealers do allow other exceptions, such as joint accounts. So, are joint accounts allowed on Robinhood?  Are Joint Accounts Allowed on Robinhood? Sadly, joint accounts aren’t allowed on Robinhood at this time. Although, the platform does hope it will introduce joint accounts in the future. We currently have no information as to when this new change might arrive.  Joint accounts allow two or more investors, usually spouses or family members, the possibility of operating the account. Each person has separate login credentials and can manage investments together.  Furthermore, joint accounts aren’t new, and many brokerages allow them. Some of the most popular brokerages for joint accounts include Charles Schwab, Personal Capital, SoFi Money, Betterment, and M1 Finance, among others. Can I Add My Spouse to my Robinhood Account? Some investors might also be wondering if it’s possible to open a dual Robinhood account the same way you could open a dual checking account. Sadly, dual accounts fall under the same terms as joint accounts. Therefore, you cannot add your spouse to your Robinhood account. But there is one other thing you can do. What Are Robinhood Beneficiaries?  The closest thing we have to multiple or joint accounts on Robinhood are beneficiaries. A Robinhood beneficiary is a person designated to receive the assets in your Robinhood account in the event of your death. In other words, a beneficiary would inherit the investments and funds held in a Robinhood account if the holder passes away. When creating your Robinhood account, you can add beneficiaries to your account. This can be one person or multiple people. You can also add or remove beneficiaries as you please at any time. Moreover, you are encouraged to update beneficiaries in case of any life circumstances or changes in family relations. With a Robinhood beneficiary, you ensure your assets are distributed based on your wishes. So, for example, if you would die without a beneficiary, the assets in your Robinhood account might not get distributed based on your wishes. Furthermore, these assets would be subject to probate, a legal process no one wants to go through.  Conclusion Having multiple Robinhood accounts under the same name or Social Security number is impossible. To the surprise of many, Robinhood still doesn’t offer joint accounts, a feature that would undoubtedly change how we look at investing on the platform. But there might be possible to have multiple Robinhood accounts for business purposes. Unfortunately, you would need to contact Robinhood to know more about it.  FAQs

How to Delete Robinhood Account: A Step-By-Step Guide

Reading Time: 3 minutesRobinhood is an online brokerage platform that has recently gained significant popularity. During that time, investors rushed to create accounts and take advantage of the commission-free trading, user-friendly interface, and accessible stocks. However, as with most trading trends, not everything sticks, and some users want to delete their Robinhood accounts.  After all, not everyone is a Wall Street guru, and those with no account balance may decide to close their account. If you’re one of them, this guide will walk you through the steps to delete your Robinhood account. Things to Know Before You Delete Robinhood Account Before you proceed to delete your Robinhood account, here are a few things to know: Make sure to withdraw all the funds from your Robinhood account before you delete it. If you have any unsettled trades, you must wait until they are settled before withdrawing the funds. If you have realized gains or losses on any investments in your Robinhood account, you must account for them when filing your taxes. Deleting Robinhood account is a permanent action, and you won’t be able to retrieve it or any associated data after deletion. With these things in mind, users wishing to close and delete Robinhood accounts should consider the decision before proceeding. The last thing users want is to close the account without withdrawing funds, as it’s impossible.   Steps to Delete Robinhood Account Now that you have learned what you need to know before deleting your Robinhood account, let’s move on to the steps you must follow to delete your account. Step 1: Open the Robinhood App or Website You must access the app or website to delete your Robinhood account. Open the Robinhood app on your phone or tablet, or go to the Robinhood website on your desktop or laptop. Step 2: Go to Settings Once you’re logged in, click on the profile icon located in the top left corner of the app or website. Then, from the dropdown menu, select “Settings.” Step 3: Select “Account Information” In the “Settings” menu, scroll down and select “Account Information.” Step 4: Click on “Close Account” Under “Account Information,” you’ll find the option to “Close Account or Deactivate Account.” Click on it. Step 5: Verify Account Details Before you can close or delete Robinhood account, the platform will ask you to verify your account details. This built-in security feature prevents unauthorized users from deleting Robinhood accounts. Make sure to read and understand the information provided before proceeding. Step 6: Confirm Account Deletion After verifying your account details, Robinhood will ask you to confirm the action. Click on “Continue” to proceed. Step 7: Enter Eeason for Deletion Robinhood will ask you to provide a reason for deleting your account. This option is entirely optional. Select a reason from the dropdown menu or enter your own reason. Step 8: Confirm (Once More) Account Deletion Once you’ve provided a reason, Robinhood will ask you to confirm once again that you want to delete your account. Click on “Delete Account” to confirm. Step 9: Receive Confirmation After clicking “Delete Account,” Robinhood will confirm that your account has been deleted. You’ll also receive an email confirming the deletion of your account. Conclusion As you can see, deleting your Robinhood account is easy and seamless and can be done in a few steps. What’s important regarding the Robinhood account deletion process is to withdraw your balance and close your positions before confirming the action. If you don’t do that, you won’t be able to delete your Robinhood account.

Exploring the 4 Different Types of Investment Accounts

Reading Time: 5 minutesUnderstanding the different types of investment accounts will allow beginner and rookie investors to grow their wealth over time. Investing your money is the smartest decision you could make, especially if your goal is long-term wealth creation. However, understanding the various types of investment accounts can be daunting for rookies in the investment world.  We aim to educate our readers on such topics. As a result, in this article, we will explore the four main types of investment accounts and provide insights into each. But first, let’s explain what an investment account means. What Is an Investment Account?  An investment account is a type of financial account that allows you to invest your money in various securities, such as stocks, bonds, mutual funds, exchange-traded funds (ETFs), and more. Several types of investment accounts are available, each with its unique set of features, benefits, and limitations.  The 4 Types of Investment Accounts If you like having options, you’re in luck. Various types of investment accounts exist that provide investors with plenty of options. As mentioned previously, investors can use these accounts to invest in various securities. Moreover, some types of investment accounts specialize in achieving your savings goals.  As the market is overly saturated with all kinds of investment accounts, we must first begin by explaining the types of investment accounts. Standard Brokerage Account In a traditional investment sense, where investors buy and sell stocks, bonds, ETFs, etc., a standard brokerage account is a popular option for beginners and experienced investors. These flexible accounts allow investors to invest in a wide range of assets, and there are no restrictions on how much you can invest.  Some brokerage accounts require a minimum balance, while others do not. You can open a standard brokerage account with a broker, bank, or online investment platform. However, there’s more to standard brokerage accounts rookie investors must learn. How the account is owned makes these accounts so distinct from others. Your options include the following: Standard brokerage accounts can be cash or margin accounts. It depends on the firm offering the account. Cash accounts are by far the most popular brokerage account type. It works simply: you deposit money into the account and use it to buy and sell securities.  On the other hand, margin accounts are a popular option for more experienced investors. However, these accounts are riskier and operate based on lending money and collateral.  Retirement Accounts A retirement account is an investment account designed to help you save for retirement. Several types of retirement accounts exist, including traditional IRA, Roth IRA, 401(k), and more. Each type of retirement account has its unique tax benefits and contribution limits. Understanding these are essential for ensuring the retirement account meets your retirement saving goals.  Retirement accounts fall into several sub-types, including the following: Retirement accounts have their unique eligibility rules. For example, you or your spouse must have earned an income to qualify to contribute to an IRA account. Moreover, IRA accounts have contribution limitations of $6,500 or $7,500 if above the age of 50. There are also eligibility and contribution rules and limitations to Roth IRA and 401(k) retirement accounts.  Education Account An education account is a tax-advantaged investment account designed to help you save education expenses, such as college tuition, room and board, and more. There are two main types of education accounts. Those include the 529 plan and a Coverdell Education Savings Account (ESA). The great thing about education accounts is that anyone can contribute any amount of money on behalf of a beneficiary. Furthermore, the account owner can name anyone as a beneficiary so long as the money in the account is used for education-related expenses.  As mentioned previously, education accounts fall into two distinct options: Investment Accounts for Children Investment accounts for children are specifically designed for minors. The parents, or another adult (custodian), maintain these accounts until the child reaches an age of maturity (18-21 depending on the state). These accounts can hold traditional securities (cash, bonds, mutual funds, bonds) and even real estate assets. Because of that, these types of investment accounts for children can be the following: Not every state allows both types of children’s investment accounts. You must consult a broker to determine what type of investment account your state allows. It’s common for states to allow either or both UTMA and UGMAs. Moreover, unlike educational accounts, investment accounts for children have no limitations on what the money in the account can be used for.  Conclusion For individuals looking to take charge of their financial future, choosing the right type of investment account is essential for achieving your long-term investment goals. Fortunately, there are plenty of options and different types of investment accounts. But unfortunately, understanding all of them can be a daunting task. What’s important is to do your due diligence and examine your investment plans and goals to determine the right type of investment account for you. Frequently Asked Questions

Day Trading on Robinhood: Should You Do It?

Reading Time: 5 minutesDay trading on Robinhood has become increasingly popular among investors in recent years. Robinhood revolutionized the trading industry by introducing a user-friendly interface and commission-free trading options. These two features have made Robinhood an attractive platform for investors looking to make quick trades.  However, day trading is not for everyone, and it’s precisely why Robinhood actively discourages day trading on its platform. While day trading on Robinhood isn’t forbidden, investors must weigh the pros and cons before diving in.  In this comprehensive guide, we’ll discuss what day trading on Robinhood is, the pros and cons of Robinhood day trading, and how to determine if it’s the right strategy for you. What is Day Trading on Robinhood? Day trading is a strategy in which investors buy and sell stocks on the same day to take advantage of small price movements. Robinhood allows investors to execute day trades without paying commission fees, an attractive option for those looking to make same-day trading returns. However, Robinhood’s trading platform is designed for mobile devices and is less robust than other platforms like E-Trade or TD Ameritrade. While the platform offers several trading and analytical tools, day trading is risky and not recommended for beginners. Moreover, Robinhood implements a feature to protect traders making big losses. This feature is called “Pattern Day Trading.”  What Should You Know About Pattern Day Trading on Robinhood? Pattern Day Trading is a FINRA (Financial Industry Regulatory Authority) rule that applies to margin accounts. The rule states the following: Buying or selling the same stock or ETF on the same trading day or opening and closing the same options contract on the same day is considered a day trade. Robinhood considers you a Pattern Day Trader if you make four or more day trades within five days. In addition, the number of day trades must exceed more than 6% of your total trades in the same five-day period.  You can continue making more day trades if your Robinhood margins account contains more than $25,000 each trading day. The amount considers all stocks, options, and cash but excludes cryptocurrencies.  Pattern Day Trading is a FINRA rule; all brokerages must abide by and enforce it, including Robinhood.  Before you try day trading on Robinhood, here are the pros and cons of this strategy and help you determine if it’s right for you. Day Trading on Robinhood Pros and Cons Pros  Cons User-Friendly and Easy-to-Use Day Trading Interface Poor Customer Support Trade Stocks, ETFs, Options, Cryptocurrencies  Limited Day Trading Tools Zero-Commissions for Day Trading No Educational Resources for Beginners Desktop and Mobile App No Mutual Funds Low Margin Rates Instant Transactions Examining the pros and cons of day trading on Robinhood will enable rookie and experienced investors to determine if day trading is something they should try. However, we will reiterate once more; day trading is risky, and the likelihood of making bad trades is always possible. In addition, the lack of educational resources for beginners, poor customer support, and lack of day trading tools should be a concern for investors looking to try day trading on Robinhood. With that said, we must also mention that Robinhood is one of the few brokerage platforms that actively discourages day trading on its platform due to the high-risk factor.  How to Know if Day Trading on Robinhood is Right for You? Day trading on Robinhood can be a risky strategy unsuitable for everyone, especially inexperienced traders and rookie investors. So here are a few questions to ask yourself to determine if day trading on Robinhood is right for you: Answering these questions before day trading on Robinhood is crucial for understanding what you’re getting into. Day trading promises high returns and big gains, but the outcome is often the opposite for inexperienced traders. Therefore, we will give you several tips to help you understand how to day trade.  Tips To Help Investors Start With Day Trading on Robinhood These tips will help investors better understand the nature of day trading and its risk. Therefore, these tips aim to educate beginner traders and hopefully assist in making better trades.  Note: Neat Dollar is purely educational, and traders must take their own responsibility for making poor day trades.  Before starting to day trade on Robinhood, set realistic goals for your profits and losses. Setting goals will help you stay disciplined and avoid making impulsive decisions based on emotion. Limit orders allow you to set a specific price to buy or sell a stock, which can help you avoid buying or selling at an unfavorable price. Stay informed about market trends and news that may affect your trading stocks. This can help you make informed trading decisions. Day trading is a high-risk strategy, so investing money you can afford to lose is crucial. Stop-loss orders allow you to automatically sell a stock if it falls below a specific price, which can help you limit your losses. Always diversify your portfolio. Diversifying your portfolio can help you minimize risk and increase your chances of making profits. Everyone makes trading mistakes. Use your mistakes as learning opportunities to improve your trading strategy. Keeping a journal of your trades can help you track your trading progress and identify areas for improvement in your strategy. Stick to the trading plan and avoid making impulsive decisions based on emotion or fear. If you’re new to day trading, consider practicing with a demo account to get a feel for the platform and refine your strategy before risking real money. Conclusion Day trading on Robinhood can be a lucrative strategy for experienced investors who are comfortable with risk and have the time to dedicate to making quick trades. However, it can be risky for beginner investors who lack experience with any kind of trading.  Therefore, weighing the pros and cons of Robinhood day trading and determining if day trading is the right strategy for your financial goals and risk tolerance is important. With careful planning and research, day trading on Robinhood can be profitable.

Barron’s Review: Is It Worth It For the Money?

Reading Time: 5 minutesSince 1921, Barron’s has been a reliable and leading source of financial information for investors, both rookies and experts. The website publishes daily articles, weekly summaries, insight and analysis into stocks, and much more. But Barron’s also offers investors the option to subscribe and gain access to extra perks. Our Barron’s review will answer whether subscribing to Barron’s is worth the money.  The review focuses on the main selling points of the financial news magazine, including its features. The aim of our Barron’s review guide is to help investors determine whether Barron’s is worth subscribing to. So, let’s begin. Quick Summary: What Is Barron’s? Barron’s is a financial news outlet offering financial insights and analysis on the latest market trends, stocks, and investment strategies for over 100 years. Barron’s was founded by Dow Jones & Company, acting as an industry leader in financial reliability news reliability.  The news outlet aims to help investors make informed decisions by providing comprehensive, objective, and independent research. In addition, the news outlet publishes daily articles on the news in the US financial markets. However, Barron’s also comes with a subscription plan, which gives investors exclusive perks, including recommendations on stock picks, portfolio investment ideas, and exclusive content relevant to your financial interests. These extra perks make subscribing to Barron’s a tempting proposition for the average and seasoned investor. But is subscribing to Barron’s worth the money?  Barron’s Pricing Despite providing daily articles on financial news and markets, Barron’s primarily operates on a subscription model. Therefore, Barron’s is, technically, a subscription-based financial service. Let’s look at the two pricing options to define Barron’s pricing. Barron’s Digital Package Barron’s Digital package grants access to the Barron’s website (including all online content). Choosing the digital package comes with an introductory offer, including a 30-day free trial and $4.99 monthly. However, this is an offer only for first-time subscribers. After that, the digital subscription costs $19.99/month ($239.88/year) if you pay monthly. Barron’s also offers quarterly, semi-annually, and annual subscription plans, which also come at a discount.  Barron’s Digital & Print Package Barron’s Digital & Print package is slightly more expensive at $29.99 per month ($259.99/year). As the package’s name suggests, it allows investors to read Barron’s digitally and in print. Likewise, as the digital package, Barron’s offers discounts if you pay quarterly, semi-annually, and annually for the subscription.  Other Packages Barron’s also offers corporate and student subscriptions. You can learn more about these packages on their website.  What Does Barron’s Offer? At the beginning of our Barron’s review, we mentioned that the outlet offers investors financial news and information. But Barron’s offers much more than that. So, here is what investors can expect from Barron’s subscription: Barron’s Features The list of features available with Barron’s subscription makes it a must-have for expert investors. Those include:  Exclusive Access to Market Research and Insight The exclusive access to financial news and information, including market research and insight, is the most attractive feature of owning a Barron’s account. Barron’s is a leader in the financial industry and has amassed a team of experts to analyze and verify data.  The experts at Barron’s offer thousands of exclusive articles for investors to utilize when investing in commodities, futures, cryptocurrencies, and bonds. The sheer versatility and range of financial-related topics make Barron’s a standout choice in the financial news industry.  Exclusive Access to Stock Picks Yet another standout feature of a Barron’s account is the daily exclusive access to stock picks. Barron’s aims to help investors make informed decisions and find the next investment opportunity. Therefore, their daily stock picks segment allows investors to invest in stocks the experts at Barron’s think might perform well in the future. Moreover, subscribers get access to the Picks and Pans Tool, a convenient tool that makes it easy for investors to see how previous stock picks have performed. In addition, you also get access to a watchlist tool to monitor and keep track of potential stocks to add to your portfolio.   Exclusive Access to Barron’s Podcasts Our Barron’s review mentioned that the outlet also offers subscribers access to several exclusive Barron’s podcasts. These include Barron’s Live, Barron’s Streetwise, Barron’s Advisor, The Readback, and one of the best-performing podcasts, Numbers by Barron’s.  How Do I Subscribe to Barron’s? To subscribe to Barron’s: You can cancel your Barron’s subscription at any time. For first-time subscribers, you can use Barron’s introductory offer, which includes a 30-day free trial and slashing prices for the first month.  Barron’s Review Summary – Is It Worth It? Our Barron’s review aims to answer whether a Barron’s subscription is worth it for the money. Of course, whether Barron’s is worth the money depends on your investment goals and needs. Nevertheless, Barron’s can be a valuable resource if you’re looking for comprehensive and objective research on the latest market trends and investment opportunities.  The access to exclusive articles and research reports, market insights and commentary from expert analysts, and customizable watchlists and alerts can help you make informed investment decisions. However, Barron’s is designed for seasoned investors and veterans of the industry who closely follow and monitor the US markets. As a result, Barron’s may not be worth the price if you’re a casual investor not looking to make frequent trades or stay up-to-date on the latest market news.  Additionally, the subscription cost can add up over time, and there are free alternatives to Barron’s that provide similar information. If you like our Barron’s review, make sure also to read our Barron’s vs WSJ review.