Buzz
Got your hands full cooking dinner but still want to trade stocks? Alexa can do that for you now.
TD Ameritrade clients are now able to place trades via voice command after completing multiple security steps, such as a PIN and two-factor authentication, according to Marketwatch. Each transaction incurs a standard fee of $6.95, and users will specify the company, share quantity, and order type (market or limit).
However, that doesn’t mean it’s always a good idea. Financial institutions are working on making frequent trading more affordable and seamless, but it still comes with a price. If you find yourself in a situation where you can't take the time to make a trade on your computer, you might want to reconsider. In a market downturn, the last thing you'd want to do is call up Alexa to sell in a panic.
“Convenience is great, until it isn’t,” says Ashley Foster, a financial adviser at Nxt: Gen Financial Planning in Houston, Texas, in an interview with Marketwatch. “Trading based on emotions can be detrimental for investors. The added convenience could end up being a costly blunder.”
Investors can also receive market updates and gain financial insights. When it comes to investing, it’s crucial to create a strategy and stick to it, even when the market feels unpredictable. Let Alexa assist with recipes and workouts, but leave the investments to you.
