Cryptocurrency at Primerica
You cannot invest in Dogecoin, Ethereum (ETH), Bitcoin (BTC), Bitcoin Cash (BCH), Litecoin (LTC), or
any other cryptocurrencies on Primerica at this time.
As an alternative, you can use a
$0 commission broker called Robinhood
that does offer cryptocurrencies investing.
Robinhood Promotion
Open Robinhood Account
Brokerage Firms
Competition among online investment companies is very intense in 2024. More than two dozen firms are competing for new clients by making it as easy as possible to open accounts.
This year, many online discount brokers do not require any money to open a standard brokerage or an IRA account (including Traditional, ROTH, Simple IRA, SEP IRA, 401(K), and others). You can open these accounts without an initial deposit and often there are no fees to maintain them. Brokers that allow you to open an account without an initial deposit include TD Ameritrade, Firstrade, Choicetrade, Merrill Edge, Vanguard, Wellstrade, TIAA, and USAA.
Other online brokers require a low initial deposit of $500. This group includes large firms like Etrade and Capital One Investing, as well as smaller companies like Sogotrade.
Firms that ask for a larger initial deposit are Interactive Brokers and Lightspeed Trading. These brokers mainly serve day-traders who need significant balances to trade effectively and make a living.
Both non-IRA and IRA margin accounts need at least a $2,000 initial deposit. If you plan to day-trade (make three or more trades in a five-day period), you must have at least $25,000 in your account—this is a legal requirement for brokerage firms.
If you're transferring your existing brokerage account to another firm, the same minimum deposit rules apply. However, you can also transfer the value of stocks, ETFs, mutual funds, bonds, and other assets instead of cash.
You can view ratings and reviews for the online brokers mentioned here by clicking on the links provided in the table above.
Updated on 7/5/2024.
|