Beginning to invest in stocks, mutual funds, and exchange-traded funds used to be complicated and hard. You had to hire a stockbroker who would then place trades on your behalf, making it costly and complicated. Nowadays, online stock brokers have made it easy to buy and trade stocks and have also made it extremely cost-effective. This article will tell you about some of the best online stock brokers for beginners.
Finding the right online stock broker is crucial, especially when you are just beginning. When you are just starting out, you need help understanding how and what to invest in and need the platform to be as easy to use as possible. Let’s look at the best online stock brokers for beginners.
Fidelity Investments
Fidelity is our number one pick for beginners. The online stock broker is both easy to use and feature-rich. It is great for people who are just starting out in the stock trading world as the platform offers a lot to grow their user’s investment knowledge. With constantly updated articles, on-demand webinars about investing, and podcasts updating the people about the market, it is full of resources to help newcomers succeed.
Fidelity offers a diverse selection of exchange-traded funds, mutual funds, and more to its users. There are also no fees or minimum balance requirements to open an account. The commission fees on trades are also very low when compared to other popular online stock brokers. Another huge feature the fidelity platform offers its users is the option to buy fractional shares in companies to minimize risk.
Fidelity also offers all the advanced features a skilled trader might need on their Active Trader Pro platform for people who aren’t beginners and need advanced features.
TD Ameritrade
The resources TD Ameritrade offers to new beginners are incomparable. They have workshops with articles, videos, and webcasts to help beginners learn and invest better. Their courses range from investing, to options trading, to deep technical analysis. With so much on offer to learn and improve, TD Ameritrade should not be overlooked for people just getting into stock trading.
TD Ameritrade offers stocks, mutual funds, forex trading, bonds and certificates of deposits, and futures trading, which means there is something for everyone. In addition, the commission fees are minimal and competitive, and there are no minimum balance requirements.
Access to its educational resources does not require any additional payments, and the platform is easy to use while still having all the features you would need. Features like progress tracking, investment options, resources, and other elements make this platform great for beginners and advanced users alike.
E*TRADE
E*TRADE is the easiest-to-use online stock broker on this list. Its apps and features are tailored to beginners, making this online stock broker great for newcomers. The platform has a large library of resources like biweekly webcasts, articles, and video overviews to aid beginners. They also have beginner-friendly charting, and pattern recognition features to make investing as easy as possible.
The company has $0 fees in commissions in trading and a very advanced mobile app for its users. These easy-to-use tools and apps are what make this platform ideal for beginners. The only drawback to this platform in our minds is the hard-to-navigate desktop website.
