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Rising Star
Do not use robinhood
Rising Star
This article explains a lot of the RH drama and lacking capabilities. The app is just shady and there are so many other better options. https://clark.com/personal-finance-credit/investing-retirement/robinhood-review/
I like fidelity because I can have all my accounts in one place. I use their cash management for checking, Roth IRA, HSA, brokerage, etc. That said, I do have a robinhood account and it’s way more user friendly. I would go fidelity for long term stuff and use robinhood to learn more about trading individual stocks (if interested).
I personally like Ameritrade and Schwab. Vanguard and Fidelity are also good options.
Pro
Fidelity has free trades and a good interface.
Would also reccomend robo advisors / index funds / low cost mutual funds if you're just getting started over starting to pick stocks
I like fidelity but admit the UI isn’t as good as something as Robinhood. That said it has a lot more features and isn’t as sketchy as Robinhood is.
Rising Star
Select a reputed brokerage firm and invest in the broad market.
Reputed brokerage would be Vanguard, Schwab, Fidelity. All are more or less same. Not Robinhood.
Invest, as opposed to speculate, or worse, gamble. Investing horizons are long term - a few decades. Try to ignore the day to day noise, either euphoric or depressing.
Broad market would be a fund (index/ETF) that tracks a great swath of the markets. For example, VTI is the Vanguard total stock market ETF, meaning it tracks the movement of over 3,000 stocks in the US. FZROX is the Fidelity index fund that tracks the same thing.
Read up as much as you can. Reading the entire stock series, around 30 posts, would be a good start.
https://jlcollinsnh.com/stock-series/
All the best on your journey.
Avoid Robinhood like the plague
Pro
I've been dumping all of my extra money into an investment account with Edward Jones for a few years, and they've done a great job with it. You meet with a local rep and they'll walk you through risk tolerance and goals and then diversify it all for you. Fee is tiny, has absolutely been worth it not to have to think about it. I have a small chunk of money automatically transferred to that account every month.
Rising Star
How much exactly is "tiny"? Around 1%? That's 1% by which they will have to have your portfolio beat the market on a regular basis. Over decades, that had proved to be an almost impossible task.