5 best online stock brokers for beginners
Let’s face it, trading can be intimidating. Whether you’re new to investing in general or just starting out with online stock trading, the sheer number of options can be overwhelming. It can also be time-consuming to sift through all of them in order to find the best online broker for your needs—especially if you don’t know what those are yet. In this article, we’ll help answer that question by highlighting some of the top online brokers for beginners based on price and features so that you can find one that works well for your portfolio and lifestyle.
Ally Invest
Ally Invest is the best online stock broker for beginners.
Ally Invest offers free trades, no account minimum, and a great mobile app.
Ally Invest has a great customer service team.
Caleb Rickard is the CEO of Ally Invest and was named one of America’s top CEOs by the Financial Times in 2016. His leadership resulted in rankings such as #1 Best Place to Work Among Retail Brokers by the National Association of Insurance Commissioners (NAIC), #1 Best Online Broker for Research & Education Services by Investor Education Foundation (IEF), #3 Most Engaging Banking Website/App by Harris Poll EquiTrend®, as well as being named to Money Magazine’s list of “Best Banks” every year since 2001 (and it’s been running since 1979).
OptionsHouse
OptionsHouse is a great choice for beginner investors who prefer to trade stocks. What’s more, you can trade options without having to make a minimum deposit or pay commission fees. OptionsHouse offers free options education and signals, so it’s easy for you to learn the ins and outs of options trading before making your first purchase.
If that isn’t enough, OptionsHouse also has no account minimums or maintenance fees and doesn’t charge any transaction fees on stock trades! All in all, OptionsHouse makes trading very easy with its low prices and no-frills approach—perfect for retail traders who want basic features at an affordable cost
Firstrade
Firstrade is an online brokerage that’s ideal for beginners. The platform is easy to use, has a great mobile app, and its fees are low. There are no account minimums or trading fees.
Firstrade offers free stock trades as part of its new customer promotion until December 31st, 2020 if you sign up by November 1st (that’s right now!). The brokerage also recently added commission-free options trading on several exchange-traded funds (ETFs).
TradeStation
TradeStation is one of the best online stock brokers for beginners. It offers a $3,000 minimum deposit, which is more than adequate for most beginner investors.
TradeStation offers a wide range of investment products and services, including options trading and mutual funds. The broker also provides free paper trading so that you can test out your strategies without risking any real money.
Merrill Edge
Merrill Edge is a good option for beginners looking to get started with online stock trading. It has low fees and offers access to a wide variety of investment options, including commission-free ETFs. The company also provides excellent customer service, with access to financial advisors who can help you build your portfolio and answer any questions you have along the way.
Additionally, Merrill Edge offers some unique features that make it particularly well-suited for active traders. If you are an active trader, Merrill Edge’s Rapid Trade feature allows you to place a trade in just three seconds—compared with about two minutes at other brokers—and its Mobile Check Deposit allows clients to deposit checks from their smartphone or tablet using their camera device (iPad).
The best online stock broker for beginners is Ally.
An ally is a great option for beginners because of its low fees and great customer service.
They have a wide range of tools and resources to help you learn about investing. For example, their online trading platform includes an area where you can watch real-time stock quotes and market moves. Additionally, they also offer educational videos on different topics like managing your portfolio or choosing stocks.
Finally, they have no account minimums so you can start small and grow your portfolio as you get more comfortable with investing!
Conclusion
There are many great online brokers to choose from, but the bottom line is that you should go with the one that’s right for you. The most important thing is that it fits your personal needs—and we hope this guide has helped you figure out which one does!