Set up a brokerage account
Online brokerages are investment platforms that offer wealth-building products like self-directed trading accounts, automated investing accounts, and retirement savings accounts.
If you d like to invest $5,000 without running into large minimum account size requirements, most brokerages let you get started for free. This is typically the case for self-directed, or active, investing accounts. For instance, Merrill Edge, Fidelity, and E TRADE all offer commission-free trading for investors who trade on their own. And many of these investment apps also let you avoid minimum account size requirements.
Generally, you only run into more fees for mutual fund investments, options contracts, and certain retirement accounts. And some brokerages also offer robo-advice, but you ll have to pay more for these services.