Looking to venture into the trading world, but don’t where to start? Try GoTrade App, one of the best trading platforms today. It’s becoming increasingly popular among beginner investors because it takes out all the intimidating procedures, long waiting time, excessive processing fees, and most importantly, the hard-to-decipher charts that usually scare the newbies away.
Even expert traders love GoTrade because of its great UI/UX interface and commission-free trading. But best of all, you can buy shares of your favorite brands with only $1.
Read on to find out how to get started on Go Trade and start trading instantly with only $1.
What is GoTrade App?
is GoTrade app legit? Yes! it is an investing and trading platform that allows users from 150 non-US countries to invest in US stocks for as low as $1 (50 Php). It’s very user-friendly and lets you instantly start trading right after creating an account. You also get to keep all your earnings to yourself because the app doesn’t charge commission fees for trading stocks.
How to Create an Account on GoTrade App?
Creating an account on this platform is very easy. The process is nothing different from creating social media accounts, like Facebook and Instagram. But to be fully verified, you’ll need to provide proof of your identity, such as a picture of your passport, driver’s license, voter’s ID, NBI clearance, or postal ID.
Follow the simple steps below to create your GoTrade App account:
2). Fill in the form and provide a clear photo of any IDs you have.
3). The app currently accepts sign-ups from invitations. This means you’ll need to enter an invitation code from someone already using the app to skip the waitlist and get immediate approval.
If you don’t have an invitation code, use this code to be approved quickly: AHDBKC.
(Using my referral code will only get you approved quickly. I will not be receiving a referral bonus for it.)
4). After signing up, you’ll get $4 free stock after successfully creating an account – which you can unlock by depositing a minimum of $10.
5). Account verification may take one full day. Once approved, you’ll get an email notification, and you can start trading right away!
How to Buy and Sell Stocks on GoTrade App?
Now that you’ve successfully set up an account, you’re ready to start investing and trading! It’s very easy to do on GoTrade because the app has a great and user-friendly interface.
The first thing you need to do is deposit money into your GoTrade account.
(Important note: GoTrade allows you to buy stocks for as low as $1, but requires a minimum deposit of $10.)
As of now, if you’re from the Philippines, the app only allows the following cash-in methods in ₱:
- Union Bank (transfers may take up to 1 day with ₱10 fee)
- BPI (transfers may take up to 1 day with ₱12 fee)
- GCash (transfers may take up to 1 day with a 3% fee)
(Want to get around GCash transfer fees? Here’s how)
How to Trade or Buy Stocks on GoTrade App
Check available funds
To check your total cash-in amount or the available money you can use to buy stocks, go to My Account, and see the amount reflected beside the $ Cash icon.
You might notice that the reflected amount on your account is different from the original amount you deposited. While it’s true that GoTrade offers a $0 commission fee trading service, they do charge a very small fee every time you deposit and withdraw from your account.
Don’t worry about it, because the fees aren’t too exorbitant, unlike other trading platforms and trading through brokers.
See the complete list of GoTrade fees below:
Buying and selling stocks in GoTrade App is very straightforward. Both follow the same process that’s easy to remember.
First, select a company you want to buy stocks from. You can find companies by category on the upper part of the Search page.
After finding a certain company, click its icon to go to its trading page. On this page, you’ll find the company’s Market Stats and other relevant information you’ll need before investing.
Scroll further down and under News, you’ll see a list of related articles about the company you’re looking at.
I personally find this a very handy feature, especially for beginner investors who need a little help deciding whether or not to buy a certain stock. The only downside is that some featured articles require a subscription to the publisher to be viewed.
When you’re ready to buy stocks, just click the Trade button.
Tap the Order Type icon on the upper right corner of the screen to select how you want to buy your stocks.
You’ll have 3 choices:
- Buy in dollars — lets you enter the amount you’re willing to pay to buy stocks. This is great if you want to buy several stocks and allocate the available funds among them. (e.g.: $3 for AAPL, $5 for ABNB, and $10 for FB)
- Buy in shares — lets you enter a specific number of shares you want to buy up to 9 decimals places. Just make sure that your available funds are enough to buy your desired number of shares. (e.g.: 1.361515098 shares for AAPL)
- Buy at a limit price — this option lets you “schedule” when to buy certain stocks.
Let’s say you want to buy an AAPL share when the market price hits $10. Just enter your target price and click enter. When the market opens, and the market price matches your target price, the app will automatically buy the stocks for you for $10 even when you’re not online.
For now, this feature only allows a minimum of 1 share to buy/ sell. You also can’t input any decimal places after a whole number. This is one update that I’m very much hoping to see in the near future.
After entering the amount or the number of shares you want to buy, tap Preview buy and swipe up to confirm your Buy order.
Market orders only takes a few minutes to be executed in GoTrade App when you complete a transaction when the market is open (US time). But when you buy and/or sell when the market is closed, you’ll see a pending status on your account. Your market order will then be executed on the following business day.
To sell your shares, go to the company’s page.
Enter the amount of shares you want to sell; in dollars, in shares, or select to sell at a limit price.
Tap Preview sell and swipe up to confirm your market order.
Again, keep in mind that when you’re selling when the market is open, your order will be executed within minutes. Otherwise, you’ll see a pending status, and your order will be completed on the next business day.
Investing in GoTrade App is very easy, convenient, and safe. With as little as $1, you can be one of the 100,000 from 150 countries investing in huge companies like Google, Apple, and Netflix.
At the comfort of your homes, without the need for paperwork, you can create an account and start trading instantly. GoTrade is a great place to start for beginners in learning how to invest and grow your money.
If you’re ready to reach your money goals and sign up on GoTrade, don’t forget to use my invitation code to get approved quickly: AHDBKC