7 Best Investing Accounts in the US for 2022
Investing your money is one of the smartest things you can do for your future. It allows you to grow your wealth over time and gives you the potential to make a lot more money than if you simply saved it in a bank account. Here are the best investing accounts in the United States for 2022.
Best For Active Stock trading
1. Wealthsimple - Commission free stock trading
FEES
There are two plans which are:
Basic which is $0 per month and Plus which is $10 per month.
ACCOUNT MINIMUM
For both plans, the account minimum is $0. This allows you to get started with very little money.
PROMOTION
Currently there is no promotion.
DETAILED FEATURES
i. No Commissions
One of the main features that Wealthsimple offers is that you will not be charged any commissions when you buy or sell stocks. This is a big plus, as most brokerages will charge you a commission every time you trade. The feature of no commissions is available on both the Basic and Plus plans.
ii. Automatic Deposits
Wealthsimple will automatically deposit money into your account every week, bi-weekly, or monthly. This is a great feature if you want to dollar cost average your investments. Deposit for basic plan is automatic for $1500 for basic plan and $5,000 for Plus plan.
iii. TFSA, RRSP, and Taxable Accounts
Wealthsimple offers three types of accounts: TFSA, RRSP, and taxable accounts. This allows you to invest your money in the way that is most beneficial for you. TFSA is a tax-free savings account, RRSP is a retirement savings plan, and a taxable account is an investment account where you will be taxed on your gains.
iv. Fractional Shares
Another great feature of Wealthsimple is that they offer fractional shares. This means that you can buy a partial share of a stock if you don't have enough money to buy a whole share. For example, if you only have $100 to invest, you could buy 1/10 of a share of Apple stock.
v. Unlimited Price Alerts
With Wealthsimple, you can set up unlimited price alerts. This is a great feature if you want to be alerted when a stock reaches a certain price.
vi. Portfolio Rebalancing
Wealthsimple will automatically rebalance your portfolio if it gets out of alignment with your desired allocation. This is a great feature if you want to stay diversified and don't want to have to manually rebalance your portfolio.
PROS & CONS
PROS
-No commissions
-Automatic deposits
-TFSA, RRSP, and taxable accounts
-Fractional shares
-Unlimited price alerts
-Portfolio rebalancing
CONS
-No promotion currently available
OUR EDITOR'S REASON FOR PICKING IT
Wealthsimple is our top pick for the best investing account in the US for 2022 because it offers commission-free stock trading, automatic deposits, and fractional shares. It also has a great feature set with unlimited price alerts and portfolio rebalancing. The only downside is that there is no promotion currently available. The account minimum is $0, which makes it a great choice for those with little money to invest.
Best For Crypto trading exchanges
2. Wealthsimple - Crypto platform
FEES
The fees for buying, selling, and holding cryptocurrency are as follows:
-Buy: 1.5%
-Sell: 0.5%
-Hold: 0.4% per year
ACCOUNT MINIMUM
The account minimum is $0. This allows you to get started with very little money. With as less as $20, you can begin buying and selling cryptocurrencies.
PROMOTION
Currently there is no promotion.
DETAILED FEATURES
i. Beginner Friendly Platform
The Wealthsimple Crypto platform is beginner friendly and easy to use. The interface is simple and straightforward. You can easily buy, sell, and hold cryptocurrency on the platform. You won't have problems with using the platform even if you're not familiar with cryptocurrency.
ii. Support for Multiple Cryptocurrencies
The Wealthsimple Crypto platform supports multiple cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. This allows you to diversify your portfolio and invest in multiple cryptocurrencies.
iii. Low Fees
The fees for buying, selling, and holding cryptocurrency are very low. With as little as $0.20, you can begin buying and selling cryptocurrencies on the Wealthsimple Crypto platform. This ensures that you won't have to pay a lot of fees even if you're trading frequently.
iv. Insured Funds
All funds on the Wealthsimple Crypto platform are insured. This means that your money is safe even if the platform were to go bankrupt.
v. Many Coins Available to Buy and Sell
There are many different cryptocurrencies available to buy and sell on the Wealthsimple Crypto platform. This allows you to invest in a wide variety of cryptocurrencies and find the ones that are right for you.
Vi. Regulated by FINTRAC
The Wealthsimple Crypto platform is regulated by FINTRAC. This ensures that the platform is compliant with all Canadian laws and regulations.
PROS & CONS
PROS
-Beginner friendly platform
-Support for multiple cryptocurrencies
-Low fees
-Insured funds
-Many coins available to buy and sell
-Regulated by FINTRAC
CONS
-No promotion currently available
-Account minimum is $0
OUR EDITOR'S REASON FOR PICKING IT
Wealthsimple is our top pick for the best crypto investing platform in the US for 2022 because it is beginner friendly, supports multiple cryptocurrencies, and has low fees. The account minimum is $0, which makes it a great choice for those with little money to invest. The only downside is that there is no promotion currently available. With crypto trading becoming more popular, Wealthsimple is a great platform to get started with.
Best For Savings
3. Acorns - New Black Wallstreet
FEES
There are two plans available, the personal and family plan. Personal plan goes for $3 per month while family goes for $5 per month. The personal plan gives you access to up to 5 investment portfolios while family gives you up to 10.
Personal plan benefits include all in one investment, retirement, bonus investments, money advice, and more. The family plan gives you all of the personal plan benefits plus access to up to 10 investment portfolios, tax-loss harvesting, and an IRA for each child.
ACCOUNT MINIMUM
The account minimum is $5. This makes it a great choice for those with little money to invest.
PROMOTION
They offer 30 days bill free for new users.
DETAILED FEATURES
i. Invest your spare change with Round-Ups
With Acorns, you can invest your spare change with Round-Ups. This feature allows you to automatically invest your spare change from everyday purchases into a portfolio of exchange-traded funds (ETFs). The Round-Ups feature is a great way to start investing with little money. With as little as $5, you can start investing in a portfolio of ETFs.
ii. Grow your money with Found Money
Acorns also offers a feature called Found Money. With Found Money, you can earn cash back from select retailers when you shop through the Acorns app. The cash back is then invested into your Acorns account. This is a great way to grow your money without having to do anything extra.
iii. Get access to expert advice
With Acorns, you can get access to expert investment advice. This advice is provided by financial experts and can help you make better investment decisions.
iv. Diversified portfolios built by experts
Acorns offers diversified portfolios that are built by financial experts. This ensures that your money is invested in a variety of assets that are less likely to lose value. The diversified portfolios are a great way to reduce risk and protect your money. Some of the assets that are included in the portfolios are stocks, bonds, and real estate.
PROS & CONS
PROS
-Round-Ups feature allows you to automatically invest your spare change
-Found Money feature allows you to earn cash back and grow your money
-Get access to expert investment advice
-Diversified portfolios built by experts
-Low fees
CONS
-Account minimum is $5
-No promotion currently available
OUR EDITOR'S REASON FOR PICKING IT
Acorns is our top pick for the best crypto investing platform in the US for 2022 because it offers a great way to automatically invest your spare change with the Round-Ups feature. The Found Money feature is also a great way to earn cash back and grow your money. With as little as $5, you can start investing in a portfolio of ETFs. The only downside is that there is no promotion currently available.
FEES
This is an account for kids which charges a small fee of $5 per month. The account gives the child access to a portfolio of exchange-traded funds (ETFs). The account also offers a feature called Round-Ups. With Round-Ups, the child can automatically invest their spare change from everyday purchases into the portfolio of ETFs.
ACCOUNT MINIMUM
The account minimum is $5. This makes it a great choice for those with little money to invest. This minimum account is quite affordable to anyone who wants to open an account for their child.
PROMOTION
There is a referral program that keep on changing. This allows members to refer their friends and family and get $5 for each person that joins.
DETAILED FEATURES
i. Get access to expert advice
With Acorns Early, you can get access to expert investment advice. This advice is provided by financial experts and can help you make better investment decisions. The experts are informed about what is going on in the market, and they can help you decide when to buy or sell investments.
ii. Diversified portfolios built by experts
Acorns Early offers diversified portfolios that are built by financial experts. This ensures that your money is invested in a variety of assets that are less likely to lose value. The diversified portfolios are a great way to reduce risk and protect your money. Some of the assets that are included in the portfolios are stocks, bonds, and real estate.
iii. Low fees
Acorns Early charges a small fee of $5 per month. This makes it a great choice for those with little money to invest. The low fees make it a good option for anyone who wants to start investing for their child.
iv. Automatic investing
With Acorns Early, you can set up automatic investing. This means that the child's money will automatically be invested into the portfolio of ETFs. The child does not have to do anything except for setting up the account.
v. Round-Ups feature
The Round-Ups feature allows the child to automatically invest their spare change from everyday purchases into the portfolio of ETFs. This is a great way to grow the child's money without them having to do anything.
PROS & CONS
PROS
-Get access to expert investment advice
-Diversified portfolios built by experts
-Low fees
-Automatic investing
-Round-Ups feature allows the child to automatically invest their spare change
CONS
-No promotion currently available
OUR EDITOR'S REASON FOR PICKING IT
Acorns Early is our top pick for the best investing account for kids in the US for 2022 because it offers a great way to automatically invest your spare change with the Round-Ups feature. The account also has a low fee of $5 per month, and it offers access to expert investment advice. The only downside is that there is no promotion currently available. Your child can start investing with as little as $5.
Best For Investment Experts Managed
FEES
Titan Investment charges a very low fee of only $5 per month. This makes it a great choice for those with little money to invest. The low fees make it a good option for anyone who wants to start investing for their child. There is also an annual fee of 1% on balances of more than $10,000.
ACCOUNT MINIMUM
The account minimum is $5. This makes it a great choice for those with little money to invest. This minimum account is quite affordable to anyone who wants to open an account for themselves.
PROMOTION
There is no promotion currently available.
DETAILED FEATURES
i. Bank Level Security
Titan Investment offers bank level security. This means that your money is safe and secure. The account is also FDIC insured. With Titan Investment, you can be sure that your money is in good hands. Bank security means that your money is less likely to be stolen or lost.
ii. Get access to expert advice
With Titan Investment, you can get access to expert investment advice. This advice is provided by financial experts and can help you make better investment decisions. The experts are informed about what is going on in the market, and they can help you decide when to buy or sell investments.
iii. Diversified portfolios
Titan Investment offers diversified portfolios that are built by financial experts. This ensures that your money is invested in a variety of assets that are less likely to lose value. The diversified portfolios are a great way to reduce risk and protect your money. Some of the assets that are included in the portfolios are stocks, bonds, and real estate.
iv. Automatic investing
With Titan Investment, you can set up automatic investing. This means that the money will automatically be invested into the portfolio of ETFs. The child does not have to do anything except for setting up the account.
v. Real Time Monitoring
Titan Investment offers real time monitoring. This means that you can see how your investments are doing at any time. You can also set up alerts so that you will be notified if there are changes in the value of your investments.
vi. 24/7 Access
Titan Investment offers 24/7 access to your account. This means that you can check your account at any time, day or night. You can also make changes to your account at any time. For those who want to be able to check their account frequently, this is a great feature.
vii. Daily Updates
Titan Investment offers daily updates. This means that you will be able to see how your investments are doing on a daily basis. You can also set up alerts so that you will be notified if there are changes in the value of your investments.
viii. Customer Service
Titan Investment offers excellent customer service. If you have any questions or concerns, you can contact customer service. The customer service representatives are knowledgeable and helpful. They will be able to answer any questions that you have.
PROS & CONS
PROS:
- Low fees
- Bank level security
- Access to expert investment advice
- Diversified portfolios
- Automatic investing
- Real time monitoring
- 24/7 access
- Daily updates
- Excellent customer service
CONS:
- No promotion currently available
OUR EDITOR'S REASON FOR PICKING IT
We picked Titan Investment as one of the best investing accounts in the US for 2022 because it offers a variety of features that are beneficial to investors. The low fees, expert investment advice, diversified portfolios, and automatic investing are all great features. The account is also FDIC insured and offers bank level security. Also, the customer service is excellent. The only con is that there is no promotion currently available. Overall, Titan Investment is a great choice for those who are looking for a investing account.
Best For Automated/Managed
6. Axos Bank - Managed Portfolios
FEES
Axos Bank is an online bank that offers a variety of financial products and services. One of these products is the Axos Invest managed portfolios. The Axos Invest managed portfolios are a great way to invest your money. Their fees is 0.24% per year, which is lower than the average fees of 1% per year.
ACCOUNT MINIMUM
The account minimum for the Axos Invest managed portfolios is $500. This is a lower account minimum than many other investment firms.
PROMOTION
Axos Bank is currently offering a promotion where you can get up to $150 cash back when you open an account and deposit at least $10,000.
DETAILED FEATURES
i. Investment management
The Axos Invest managed portfolios offer investment management. This means that your money will be managed by a team of financial experts. The team will determine when to buy or sell investments. One of the benefit of having your money managed by a team is that it can help to diversify your portfolio.
ii. Portfolio construction
The Axos Invest managed portfolios offer portfolio construction. This means that the team of financial experts will construct a portfolio for you based on your investment goals. The benefit of having your portfolio constructed by a team is that they can help to diversify your portfolio.
iii. Financial planning
The Axos Invest managed portfolios offer financial planning. With financial planning, you will be able to set financial goals and create a plan to reach those goals. The benefit of having financial planning is that it can help you to save money and reach your financial goals.
iv. Tax-loss harvesting
The Axos Invest managed portfolios offer tax-loss harvesting. When you invest in a taxable account, you may be subject to capital gains taxes. Capital gains taxes are taxes on the profits that you make from selling investments. With tax-loss harvesting, the team of financial experts will sell investments that have lost value and use the losses to offset the capital gains taxes. This can help to save you money on taxes.
v. Automatic investing
The Axos Invest managed portfolios offer automatic investing. With automatic investing, you can set up recurring deposits into your account. The benefit of automatic investing is that it can help you to save money and invest regularly.
PROS & CONS
PROS:
- Low fees
- Investment management
- Portfolio construction
- Financial planning
- Tax-loss harvesting
- Automatic investing
CONS:
- No promotion currently available
OUR EDITOR'S REASON FOR PICKING IT
We picked Axos Bank as one of the best investing accounts in the US for 2022 because it offers a variety of features that are beneficial to investors. The low fees, investment management, portfolio construction, financial planning, and tax-loss harvesting are all great features. The account is also FDIC insured and offers bank level security. Also, the customer service is excellent.
Best For Kids Investing
7. Greenlight Investing for Kids
FEES
Greenlight is an app that helps parents teach their kids about money. The Greenlight Investing for Kids account has no fees. Trading, ATM fees are all $0.
ACCOUNT MINIMUM
The account minimum for the Greenlight Investing for Kids account is $1. This is a lower account minimum than many other investment firms.
PROMOTION
Greenlight is currently offering a promotion where you can get a free stock when you open an account and deposit at least $5.
DETAILED FEATURES
i. Investment management
Your kid's money will be managed by Greenlight. When this is the case, you may feel more comfortable since Greenlight is a company that helps parents teach their kids about money.
ii. Portfolio construction
Greenlight will construct a portfolio for your kid based on their investment goals. The benefit of having your kid's portfolio constructed by Greenlight is that they can help to diversify your kid's portfolio.
iii. Financial planning
Greenlight offers financial planning for kids. With financial planning, your kid will be able to set financial goals and create a plan to reach those goals. The benefit of having financial planning is that it can help your kid to save money and reach their financial goals.
iv. Learning Mode
Greenlight offers a learning mode. In the learning mode, your kid can learn about investing without actually investing any money. This is a great feature for kids who are not ready to invest yet but want to learn about it.
PROS & CONS
PROS:
- Kids can learn about investing
- No fees
- Financial planning
- Lower account minimum
- Free stock promotion
CONS:
- Kids cannot actually invest until they are 13 years old
OUR EDITOR'S REASON FOR PICKING IT
We picked Greenlight as one of the best investing accounts in the US for 2022 because it is a great way for kids to learn about investing. The learning mode is a great feature that allows kids to learn about investing without actually investing any money. We also like that there are no fees and the account minimum is only $1. The free stock promotion is also a great perk.
There are many different investing accounts available in the US, and each one has its own benefits and drawbacks. We have highlighted seven of the best investing accounts in the US for 2022. These accounts offer a variety of features that are beneficial to investors.
