With the world turning its attention to Wallstreetbets, a Reddit forum encouraging members to invest in GameStop Stock (GME) in an attempt to force a short squeeze, many people who have never invested before are looking to invest. GameStop’s stock has been incredibly volatile over the first few months of 2021. Even Elon Musk got involved tweeting “Gamestonk!!” with a link to the Wallstreetbets forum. This article isn’t about how to research which stocks to invest in, or how to invest in stocks, and does not intend to give out trading advice. This article will just show you how to start trading stocks online with an online account like Revolut, or how to start trading stocks with a Robinhood account.
For more detailed stock trading information it is recommended that you research investing in stocks and are fully aware of the financial implications of stock trading.
This article will not cover everything needed to learn about online stock trading for beginners. If you want to read a comprehensive guide on starting to invest in the stock market, see the Money Saving Expert’s Guide on Investing for beginners. They break down investing into several important questions:
Ultimately only you can decide whether or not you want to take the risk and invest. You need to educate yourself so you are fully aware of the implications of investing. Research and choose an online broker that is suited to your needs. And finally, research stocks that you want to purchase.
For further reading, Nerdwallet also has a guide explaining how to begin trading.
Revolut offers a Stock Trading feature with the Revolut app. You first need to have your own Revolut account, and proof of residence in the UK, or a permitted country. You will be asked your yearly income, and also your net worth. Revolut is not the broker itself, it places any trade orders with a third party broker (DriveWealth).
The Robinhood process is much the same as with Revolut.
There are other online brokers, see this article from The Balance which looks at the best stock trading apps.
The type of brokerage app mentioned above are very basic, and quite limited in terms of actual trading features. Try downloading the Webull desktop app. You will have access to a much more comprehensive system, with volume, VWAP, watch lists, screeners and paper trading options (to allow you to practice without risking anything).
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