I bought my first stock when I was 17 years old while still in high school. For several months the stocks were put in my mother’s name until I became 18 years old and then transferred over to me. My Distributive Education teacher Mr. Barber was a licensed stock broker and real estate broker who at the time casually mentioned these “side gigs” as his ways to make some side income. As just a DE teacher I don’t think the school teaching job was actually full time for him since DE class was over at 11 AM at which time he left school for the day.

Most national better stock brokerage firms at that time even then had a minimum of $5,000, according to him. The company he was licensed with when it came to account size minimums I think was discretionary on the part of the broker because my account size was nowhere near $5,000. Think the first stock I bought totaled $230 and the second was $300.

A lot of brokerages still have $5,000 as account minimums, some are $3,000 and a few are $1,000. Scottrade and E*Trade have account minimums of $500. Even with these liberal low minimums, some people who want to start saving and investing still can’t meet these requirements until very recently and from these newer “customer friendly” companies.

1Dobot is a free financial savings app that transfers “small safe savings amounts” from your checking account to a FDIC insured savings account. You create your goals by creating an amount needed for maybe a wedding, vacation or retirement and when you will need it. Dobot will transfer small amounts to your savings account to have your established goal met. When you connect your bank account and complete one automatic transfer you are eligible to receive to receive a $5 new account bonus by using the $5 Bonus Referral Link, and after you enter your phone number or use this referral code; qxiya. Stop, start, change, boost or with drawl your savings amount whenever you wish. You may also share Dobot with friends and receive $5 for each friend using your link, by going to the “Gift Box” on your app. Your friends need to complete their first linked checking account transfer for you to receive each $5 bonus. The service is FREE for 30 days but then the charge is $1.99 monthly.

2Qapital is similar to Dobot but with a lot more flexibility. After setting up your account and linked checking account you may create your own set of rules for transfers like rounding up your change every time you make a purchase with your card linked to your Qapital account. Small change adds up to big money. The average user saves $44 each month with this Rule. Actually saving my “rounded up” purchases save me an average $55 per month and I don’t miss any of this money at all! You may also set a daily, weekly or monthly transfer toward your Goals or thru the Qapital IFTTT channel you can turn almost anything into a way to save. Save with a hashtag or Instagram or by hitting your productivity or fitness goals. There are thousands of ways to save with Qapital and IFTTT. Unlike Dobot, there is NO monthly fee, NO annual fee, NO minimum balances.  Your savings are held in a Wells Fargo FDIC insured savings account and cash out and Transfer Money Back to Your Checking Account at Any Time in the App. Please note that you must join via a referral link to get a $5 new account bonus. Please visit our $5 Bonus Referral Link. Thank You!


3-OK maybe you want to start investing in stocks but with all the information out there I sure can see how anyone might be so confused and then they just give up. Hopefully, that won’t be you! Stash makes saving and investing so simple that they start you off with a FREE $5 when you go thru my link. You can start with just a $5 minimum account size and set up an automatic recurring investment to grow your Stash account. If it’s automatic you don’t see it and hopefully won’t miss it but the job of putting aside some money (maybe finally) gets done. You can learn to invest with confidence and chose 30+ investment themes which reflect your goals, beliefs, and interests.

When you sign up you will answer a series of questions to determine and then recommend stocks and ETF’s based on your answers and initial sign-up profile. Now you can invest in the stock market for an unheard of $5 minimum and know nothing about stocks and the stock market. Stash makes all the recommendations and personalized guidance you will need.

You can even receive another $5 for every referral you make if you chose, up to $100 per year and make referrals via Facebook, twitter, direct email or text messages to friends you wish to join. Stash is totally free for the first 90 days and just $1 per month for accounts of less than $5,000 avoiding all those trading commissions brokerage companies charge. After account sizes of $5,000 it’s just .25% per year and withdrawals are always free.

4-Actually you don’t need to know anything about the market or have a lot of money to get started in the stock market. Robinhood will help you by giving you for FREE one free share of stock. Maybe you won’t be a high roller like “Warren Buffet” or one of the “experts” on CNBC, but at least you will be “in” the market with your free one share of stock and NO other account requirements.

Robinhood is a revolutionary new stock brokerage company which is having all of the other traditional stock brokerages very worried in as much as a lot of the main brokerages have drastically reduced trading commissions to try to combat this new company. Ya see, at Robinhood when you buy or sell stocks you pay $0, nothing, nada in trading commissions which ALL stock brokerages charge and average $5 to $10 per trade.

Want more? They even have a NO MINIMUM account requirement to open and/or maintain an account. But the ultimate “icing on the cake” is they will give you absolutely FREE one share of stock to get started. You might receive a free share of Apple, Facebook or even Google and when you sign up Robin hood will pick your random stock valued from $4 to $200. It’s your free lottery ticket but you are a guaranteed winner.

Robinhood has one of the simplest and easiest apps to use I have ever seen. You can have your own “watch list”, get instant stock quotes in real-time and buy & sell stocks without delay. Once your account is ready, open the app, enter your pin and you will be off and running. You can buy 1 share of a $5 stock or 100, or any amount in between, for example. And with NO trading commissions, all of your money gets fully invested. I don’t see how they could make this simpler!

5WiseBanyan has a NO FEE AND NO MINIMUM to open a new account. They are not a typical stock broker but are termed a Robo Advisor, meaning you don’t need to make stock/ETF picking decisions. Tailored Portfolios! When you become a WiseBanyan client, they will ask a few questions to determine your preferences as an investor and build your recommended portfolio. Your portfolio will be designed by their investment team and built to maximize after-tax, real investment returns while providing a personalized approach for your individual investor preferences. Also, WiseBanyan has great customer service. I both called them and was able to talk to a very knowledgeable person immediately, AND left a voice mail (after hours) and they got back to me the next morning.

They then automate the process every step of the way: from investing your funds to monitoring your progress, to reinvesting dividends. Use my invite to join and get $20! Then maybe refer your spouse for ANOTHER $40 by using my invitation!!! https://wisebanyan.com/r/1bz0pbYvY Also, check out Wise Banyans 3 pages of great articles for mostly beginning investors here. UPDATE 8-29-17-WiseBanyan has temporarily paused $20 sign-up promotion for new clients, but with all of the benefits you receive here it is still a great SEC registered investment advisor and so easy to use. Since we first signed up (8-10-16), as of 8-29 17 we are ahead 18.64%. Thank You WiseBanyan!

6-Another and probably the first robo-advisor is Betterment. They also have a $0 minimum and but charge an ongoing fee of just .25% and you can receive up to 1 year free. As your investments grow Betterment tells you the chances of reaching your goal based on your chosen asset allocation. Betterment chooses all your investments for you making this a great starting point for beginner young investors looking to get their feet wet and not having to meet a high minimum to open an account or make stock/ETF picking decisions.

Considering hiring a professional advisor who generally charges fees of 1% to 2%, Betterment with their low fee of just .25% might make this a better choice.

7Acorns is a nearly 3-year old (in November 2017) micro-investing company who will “round up” your spending to the next dollar and invest it for you simply in a diversified portfolio of stocks and bonds. Over 1 million investors have already signed up and experiencing mico-investing. This “spare change” or any fixed dollar amount you want, will recommend you a mix of ETF’s (Exchange Traded Funds) for your personal portfolio. Then you may choose your personal portfolio to be Conservative, Moderately Conservative, Moderate, Moderately Aggressive, or Aggressive so your money will be invested into 7,000 different “fractional shares” of stocks and bonds to help you improve your return while reducing risk. Their fee is similar to Stash of just $1 per month for accounts up to $5,000 and then just .25% for accounts over $5,000. By using this link your also will receive a FREE $5 to sign up.


8-Lastly is DIVY a new stock brokerage company which charges trading commissions as low as 10 cents. The stock share price at Divy doesn’t matter because you may choose any dollar amount (minimum $10) and invest in any of the stocks on the Divy lists. Let’s face it, not all of us get to invest into companies like Amazon or Google (Alphabet) who’s stock prices are in the $1,000 range.  Say you wanted to buy $10 of Amazon. Since Divy allows you to purchase “fractional” shares, you may buy just the $10 of Amazon stock, or any stock Divy offers. Now you may buy stocks which until now have only been on your “wish list”!


*As with any credit card, bank, mortgage, credit union or brokerage company you will need to provide most of your personal information including a SS number to open a new account.

Most have statements similar to this posted on their site(s);

Robinhood requests personal information including financial and tax identification information to comply with U.S. government laws and FINRA rules. We will request personal information from new customers as well as from customers who have had long-standing relationships with us. Robinhood complies with a SEC customer identification rule of the USA Patriot Act of 2001. This rule requires Robinhood to put procedures in place to verify the identity of any person seeking to open an account and to maintain records of their information. Robinhood must also determine whether the customer appears on any lists of terrorist organizations provided to broker-dealers by any government agency. That said, we take the security of all collected data very seriously. We do not intend to use this data for anything other than the fulfillment of our regulatory requirements.