Normally, anything advertised as “free” is something you should steer away from. And fast. Because, as one learns consistently throughout adulthood, free is never free. There’s always a catch, and usually a big one.
But, there are ways to access expensive material for free for a limited time which allows you to start your investing voyage. It’s the best way to get started before you invest anything major. A form of window shopping without ever leaving your office chair.
Through an abundance of free trials and demos, many of the world’s premier investing websites and softwares can be accessed for a limited time without hitting your wallet. I know, this is the type of thing that sounds too good to be true. And, in some ways, it is: eventually, you’ll have to provide a credit card or move on to a new service.
But I wanted to spell out how you can use these free trials to navigate through the early stages of investing knowledge. You’ll have two weeks to figure out what you like, what you want more of, and what you can leave behind.
Here’s what you can get in those vital two weeks:
- Figure out what kind of trader you want to be
Honestly, most people who’ve not traded before have no idea what it’s actually like. People watch Wall Street and picture themselves as hotshots, ready to wheel and deal. The reality of trading is a lot more tedious. To be a good at-home trader, one has to give immense amounts of time to learning and progressing.
Which begs the question: do you want to be an aggressive, involved investor? Or do you want to be hands off?
To solve this, I recommend you use Try2BFunded’s demo. Try2BFunded is, in my opinion, the best prop trader online. It lets me use up to $100,000 of their capital to trade with, then we split the profits, with 60% coming my way.
This demo will let you see the rigors of maintaining a portfolio driven by risk. If you’re into it, you know engaged investing is for you. If not, maybe consider something like a roboadvisor, which will do the leg work for you.
2) What kind of trader can you afford to be?
How much money are you willing to put in to this? If the answer is anything short of “a lot,” Try2Bfunded is a great fit as well. You end up putting very little of your own money at risk with the potential reward of earning actively, month in, month out.
If you are willing to put in money and take risks, you need to answer the next question.
3) How do you want to learn?
As I said before, investing is all about learning. How much time do you want to put in? Where do you want to get your information from? What format attracts you? What’s confusing, or exhausting?
Whether you want high-powered analytics or easy-to-access articles, you can get get it all here.
And with their two week demo, you can decide which types of learning benefit you most, then make an educated decision before you subscribe to a site like Chaikin Analytics.