This platform demystifies what is typically overly complicated and makes options trading fun.
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December 10, 2020 3 min read
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The typical entrepreneur is self-motivated, multi-faceted, and tends to have a high level of risk tolerance. Shouldn’t your investment strategy follow those same traits if you plan to make it your side hustle? Sure, reading the trades and Googling “best stock to buy right now” is fine, but you’re probably not going to see any real returns any time soon. Plus, you may wind up spending more in commission fees than you bargained for.
While most people with any investing interest know about Robinhood, you might not have heard of Gatsby — yet. Gatsby is an investment platform that specializes in options trading, giving you greater control and insight over your investment than simply buying a stock in a company you know virtually nothing about. Critics say that Gatsby is making a complicated security too easy to trade, but Gatsby says that options don’t need to be as complicated as they seem. Options trading is riskier than traditional stock trading, but the rewards can be considerably higher. But because it looks complicated, most amateur investors stay away.
Gatsby is working to change that paradigm. It makes trading options easier and more incentivized. Its simple, beautiful design makes options trading clear, understandable, and even social. You can open an account within minutes and with as little as $10 make trades with no commissions or contract fees. Gatsby simplifies the options trading process by breaking trades down to simply “for” or “against” individual companies and ETFs. It’s like buying a stock and hoping it goes up; except you just predict which direction it will go.
And, that’s right, Gatsby pays you to trade. With the Gatsby Rewards program, you earn points every time you trade, which can then be redeemed for gift cards from top retailers. With Gatsby’s social functions, you can see what your friends are trading on and engage with the Gatsby community as it reacts to breaking news and corporate reports. It’s like the simplicity of Robinhood meets the community of Reddit.
If you’re going all-in on investing as a side hustle, you’ll need to diversify your strategy — and yes, you’ll need to take some risks. Gatsby is taking the intimidation factor out of options trading so you can start confidently trading with as little as $10. You can sign up and make your first trade today, which is about as easy a side hustle comes.
Disclaimer: Gatsby’s website mentioned that securities are offered through ViewTrade Securities, and that Gatsby Digital is not a registered broker-dealer, but they appear to be about to launch Gatsby Securities as the new brokerage partner for the app. Also from their site: Note that references to ‘commission free’ or ‘free’ trading refer to $0 commissions charged, on self-directed individual brokerage accounts that trade U.S. listed securities. As with any broker, small SEC & Finra fees may apply. You can see the Gatsby fee schedule on their site for a complete listing of their charges. Always keep in mind that options involve a high degree of risk and are not suitable for all investors. This is not a recommendation or solicitation to invest in any security or investment.