Hands-on testing of the account funding process, provider websites and stock trading platforms. Finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which Finder receives compensation. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn’t influence our assessment of those products.

Why Usability and Education Matter for New Investors

Having accounts with multiple stock apps is an option if you aren’t completely satisfied with a single platform. Maybe it offers the tools and resources you need to research stocks but not the assets you want to build out your portfolio. If you care about fee transparency and want to create a balanced strategy for growth and stability, you can go ahead and stop looking for your next broker.

Brokerage accounts we monitor

Where you’ll find the most fees is if you work with a full-service broker. These individuals are paid a fee for the trades they make on behalf of clients. You’re also paying for the research they do to build your portfolio and the expertise they bring to help you manage your investments. But instead of letting the money just sit there and collect interest, a brokerage account allows you to buy assets, like stocks or bonds.

If you mostly trade on the go, you may be better off looking for a different solution. With Stocks by the Slice, you can invest in stocks or ETFs for as little as $1, no matter the share price. More than 50 years of combined experience writing about finance and investing. Simple charts, company news, key statistics and financials, earnings and analyst opinions all help you make informed investment decisions quickly and without fuss. Jacob is a nationally-recognized personal finance writer and has written for The Balance, The Spruce, LendingTree, Hedge With Crypto, Investopedia, Money Under 30, and other widely-followed sites.

The app is sleek and user-friendly and serves as a welcoming entry point to the world of investing with expert analysis and educational resources at the ready. Robinhood’s mobile platform is built around the idea of making investing accessible to anyone, meaning it’s a great option for beginners. Before you get started with trading, Vanguard offers a host of resources to help you set goals, understand strategies, and learn to diversify your assets. All Schwab accounts come with free access to Schwab Trading Services, an online platform that’s loaded with trading education and dedicated specialist insights. New investors get access to detailed research from a number of independent providers, along with educational materials like live webinars, coaching sessions, and online classes.

• By taking the time to seek out the best online stock brokers for beginners to jumpstart your portfolio, you’re already well on your way to making a splash in the markets.
• When you make a trade on your online stock broker’s web portal or mobile app, you’re requesting that a trade be placed on your behalf.
• When you open an account with a regulated brokerage, you can deposit money and make investments in the stock market.
• The biggest downside of IBKR is its mobile app, which has a rating of 3.9 stars (out of 5) in the App Store.

This website is an independent, advertising-supported comparison service. We want to help you make personal finance decisions with confidence by providing you with free interactive tools, helpful data points, and by publishing original and objective content. While you’re at it, take a look at the customer service availability. Choose a broker that provides resources and access to a living breathing representative if you have a question or concern. There are a ton of options out there, but not every broker will have what you’re looking for. As you compare your options, look at the types of funds and the account options different brokers offer.

It also doesn’t take a lot of money to get started — many online stock brokers allow you to open an account with no minimum deposit requirement. When you’re a beginner investor, the right broker is more than a platform for buying stocks — it should also offer investing educational resources. Whether you’re looking for a beginner-friendly platform to trade stocks or just want to invest in long-term investments like mutual funds, you’ll find an option on our list below. With many online brokerage services, you can buy fractional stocks, mutual funds and other basic investments with just a few dollars. And many offer low-cost trading, but you’ll still have to watch out for various fees. Most online stock brokers offer educational resources to help you learn about investing, though the content can vary.

E*Trade Financial

Commission-free trading platforms are increasingly common these days, so if DIY investing is your thing, you shouldn’t have to pay trading commissions at all. Investor education is important at any skill level, but especially for beginners. We look for investing platforms that go heavy on the educational materials, with videos, webinars, articles, and more for people who don’t quite yet know their way around the markets. Bank of America bought brokerage and investment banking firm Merrill Lynch in 2008, at the height of the global financial crisis. Since then, it has reoriented the acquired company toward high(er)-net-worth investors and rebranded it Merrill Edge. We work hard to share thorough research and our honest experience with products and brands.

Webull – Best for Beginner Options Trading

• J.P. Morgan earns high marks from our reviewers for its customer service, a key factor for beginner investors.
• Robinhood is a pioneer of commission-free trading, jumping into the investing public’s consciousness in 2013 when they rolled out commission-free trading.
• She was previously the assistant managing editor of investing at U.S.
• Finding the best pick for you specifically depends on the services, investments and features you believe you’ll need.
• If any of the live content is missed, they can always catch up on the on-demand webcasts.

See the Vanguard Brokerage Services commission and fee schedules for full details. The SIPC doesn’t cover risks like unauthorized trading activity, but most of the best brokerage accounts have fraud protection that covers you if your account is hacked. Some brokers let you trade alternative investments, a catch-all category for niche categories. Investments under this umbrella might include music royalties and venture funds open to non-accredited investors. Charles Schwab pioneered the low-cost brokerage model decades ago, and that legacy continues with its lineup of no-commission-fee offerings.

Once you’ve done that and opened your account, you’ll need to fund it, either by transferring money in from a bank account or from another brokerage account. Robinhood, for better or worse, makes investing fun and incredibly accessible. If you get bogged down with old-fashioned platforms and apps that feel like they were developed in the ’90s, Robinhood may be a good choice for you. Since investment products other than U.S. treasury bonds aren’t backed by the United States government, there is a possibility that you will lose money. One major callout before going any further, however, is that while M1 Finance offers pre-made portfolios aligned to several investing goals, the company is not an advisory service. Meanwhile, Firstrade’s educational resources include primers on many basic investment types, explanatory videos, and an A-to-Z glossary to help you become more familiar with vital investing terms.

Market Resources

Prior to Newsweek, he worked at Bankrate as the lead editor for small business loans and as a credit cards writer and editor. He has also written and edited for CreditCards.com, The Points Guy and The Motley Fool Ascent. Consider opening an investment account with M1 Finance, or read more in our M1 Finance review.

Do you need a lot of money to use a broker?

Here’s a comparison of the most popular educational features offered by beginner trading platforms. To compare all our collected data side by side, check out our online broker comparison tool. Alongside Fidelity, Charles Schwab is a trusted name in investing as one of the leading brokerage firms in the U.S. Since 1971, Schwab has maintained a strong reputation for providing reliable and accessible financial services. For beginners, Schwab best online stock brokers for beginners is a go-to choice, offering decades of expertise and stability.

Fidelity has an exceptional brokerage account designed specifically for teenagers between the ages of 13 and 17 and is our choice for young investors eager to grow their financial literacy from a young age. One key area for beginning traders where Schwab truly outshines the competition is education. The material is extensive and up-to-date and comes in multiple formats, such as articles, videos, podcasts, and live and on-demand coaching from a professional instructor. If you want someone to manage your money for you, you will want to hire a financial advisor. We prefer registered investment advisors who are paid a predictable fee over registered representatives who charge commissions.

Morgan’s Self-Directed Investing Portfolio Builder tool makes the process less intimidating. Many banks offer preferred services to clients who hold a large amount of assets with a bank and its related brokerage house. In some cases, holding your investment assets with a bank’s online brokerage can increase the level of service or decrease the fees you pay with that bank. If your existing bank offers a brokerage account that you can manage with your existing banking login, ease of management could factor into your decision.