Monthly Archives: September 2018

Which Robo Advisor is Best for Me?

Robo advisors are computer-automated investment platforms. They help people make investments, even if they don’t have a lot of money to manage. The investments recommended are usually based on your risk tolerance, age, emergency fund, and even retirement goals. Many people are turning to robo advisors because of their low costs. Also, the services are automated, meaning all the information you get will be objective.

  1. Moneyfarm

Moneyfarm was started back in 2011, and it has since grown to become one of the biggest wealth management service on the internet. Their investment services are divided into three products: Stocks and Shares ISA, General Investment Account, and Pension. The Stocks and Shares ISA allows you to make investments without getting taxed. The General Investment Account does not give you these tax benefits, but it also doesn’t have contribution limits. If you want to invest for retirement, you should use their Pension products. You can choose to consolidate all your pension investments to Moneyfarm for easier tracking. Using their pension services will give you significant tax benefits. It is important to note that all the services offered by Moneyfarm are regulated by the Financial Conduct Authority in the UK.

  1. Wealthsimple

Wealthsimple is another highly popular robo advisor. It was founded in 2014, but it was officially launched in the UK in 2017. This service allows you to invest as little as 1 Euro, and the fees are very low. Unlike other robo advisors, Wealthsimple does not stop you from investing if you … Read More . . .

Costly mistakes you need to avoid when starting a financial market trading business from home

When starting your own financial market trading business from home, you need to add an extra layer of discipline to your strategy as you’d still need to run the household while working. According to one of the top financial advisors at Jones Mutual, one of the main reasons for home-based market trading business failures can be attributed to mismanagement. With that said, let’s have a look at some of the mistakes financial market traders make when running their business from home as well as how to avoid them.

Trading without a stop loss

If you are working from home, there are a number of chores you need to complete before or after your trading day is over. Keeping that in mind, you won’t be able to sit in front of your computer the entire day to keep an eye on the financial markets. You can choose to receive mobile notifications while you’re not at your workspace but that does not stop you from losing capital. However, with a stop loss, you can put confidence in the fact that should your trade be unprofitable, you won’t lose all the capital in your trading account.

Averaging down your day trades

If you open a trade and you see the market moving against you, you might want to jump to unnecessary lengths to try and save your capital. This is called averaging down and in the long run, will cost you a pretty penny. Averaging down entails opening a trade and when … Read More . . .