Hi guys. I recently turned 18 and I'm about to start uni pretty soon for civil engineering. I have $380 saved up and I want to start investing. Would you say that that amount of money is sufficient for ETFs or should I explore some other avenues which will yield more bang for my buck? Thanks in advance.
>Would you say that that amount of money is sufficient for ETFs
For a single buy trade it would be:
minimum brokerage transaction fee in $/brokerage transaction fee in %
So if a brokerage has a 0,1% fee on transaction but minimum 0.50$ it makes sense to buy at least 500$ worth of shares.
>>1448503
I can only use drivewealth since I live outside the U.S. They charge $3 in commission. What would you say is the most suitable price range for me to buy shares in? I'm new to all this and I'm currently quite ignorant so forgive my dumb questions.
Why do you even come here jesus christ.
>>1448560
And what's the % commission? I doubt it's only a flat one.
>>1448568
gotta start somewhere
You can easily start buying ETFs with $380. I don't know where you live or what brokerages you have available, but minimum amounts are typically set by the brokerage.
I started out with Capital One Investing, which would sell ETFs in fractions. For example, VNQ is currently about $90 and you could buy 0.5 shared for $45. This isn't a good idea because they charge a $5.50 few per transaction, but it is an option.
I currently use Vanguard as my brokerage because they don't charge any feed to buy Vanguard products, but they only sell ETFs in whole shares.
>>1448853
As far as I know its just $2.99 per transaction. That's all they say. I was initially reluctant to sign up but all the reviews praise the website for its low commission compared to other brokerages. After some research, I figured out this was relatively true.
>>1449082
I know I can buy shares of certain ETFs. My question is if the whole thing is worthwhile with such a marginal amount of money. I'm still in the process of debating on what the best course of action would be in this situation and I'm really trying to gain something worthwhile in terms of both money and experience here. I'm researching cryptos, sports betting, stocks, flipping, etc. Thanks for the reply.