Our experts answer readers’ investing questions and write unbiased product reviews (here’s how we assess investing products). Paid non-client promotion: In some cases, we receive a commission from our partners. Our opinions are always our own. Investors can buy and sell different investment assets with an online brokerage account, which provides secure storage and market access. The best online brokerages provide an intuitive interface and a variety of account types to serve your needs. Most online brokers for beginners offer a $0 minimum requirement and commission-free trading on investments, including stocks, bonds, ETFs, and more. Even though most of the best online brokers for free stock trading provide low minimum fees, you may still need to pay a small contract fee. If you’re new to the investing world, the best online brokerages for beginners can give you the tools to reach your goals. Axos Self-Directed Trading Fees Commission-free stocks and ETFs, $1 options contracts Pros Check mark icon A check mark. It indicates a confirmation of your intended interaction. No minimum for DIY trading; no commissions on stocks or ETFs Check mark icon A check mark. It indicates a confirmation of your intended interaction. Automated portfolios included tax-loss harvesting; more than 30 asset classes Check mark icon A check mark. It indicates a confirmation of your intended interaction. Low advisory fee for automated investing Check mark icon A check mark. It indicates a confirmation of your intended interaction. Stocks, ETFs, options, and mutual funds available Cons con icon Two crossed lines that form an ‘X’. No financial advisor access con icon Two crossed lines that form an ‘X’. High options contract fees con icon Two crossed lines that form an ‘X’. No fractional shares Product Details Open an Account in Under 10 Minutes. Trade thousands of S&P 500, NASDAQ, NYSE, and other listed stocks Commission-free ($0 per trade on eligible stocks and ETFs; other fees may apply) Easy-to-use platform with the tools you need and the convenience of placing trades anytime, anywhere. Upgrade to Axos Elite and boost your account with instant access to funds, lower fees, increased buying power, and enhanced market knowledge. Link your Axos Bank account for fast, safe, and easy money transfers. Axos Elite Members get a 20% discount on Options trading All Consumer Invest clients receive access to Axos’ licensed Wealth Advisor Team. Best Online Brokerages for Beginners Here are Insider’s editors’ top picks for the best online brokerage for beginners. Compare Online Brokerages for Beginners Best overall for beginners SoFi Invest Insider’s Rating A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star 4.65/5 Icon of check mark inside a promo stamp It indicates a confirmed selection. Perks Get up to $1,000 in stock when you fund a new account. Account Minimum $0 ($1 to start investing); $5 fractional shares Fees 0% for active trading and automated investing (1.25% for cryptocurrencies) Pros Check mark icon A check mark. It indicates a confirmation of your intended interaction. No minimum to start investing Check mark icon A check mark. It indicates a confirmation of your intended interaction. No account or trading fees, and low fees to own funds Check mark icon A check mark. It indicates a confirmation of your intended interaction. Access to Certified Financial Planners at no additional charge Check mark icon A check mark. It indicates a confirmation of your intended interaction. Cryptocurrency trading and IPOs available Cons con icon Two crossed lines that form an ‘X’. No tax-loss harvesting, an advanced investing technique where you sell a stock or mutual fund at a loss for a tax benefit con icon Two crossed lines that form an ‘X’. No option for stop-loss orders when actively investing. SoFi’s active investing account only uses market orders con icon Two crossed lines that form an ‘X’. Currently only available to US residents Product Details Promotion: Get up to $1,000 in stock when you fund a new account. App store rating: 4.8 iOS/4.1 Android Consider it if: You want an easy-to-use platform paired with rock-bottom pricing. Charles Schwab Insider’s Rating A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star 4.88/5 Icon of check mark inside a promo stamp It indicates a confirmed selection. Perks Open and fund your account and get $101 from Schwab to split equally across the top five stocks in the S&P 500 Account Minimum $0 ($5,000 for Schwab Intelligent Portfolios; $25,000 Schwab Intelligent Portfolios Premium) Fees 0% ($0 Schwab Intelligent Portfolios; $30/month Schwab Intelligent Portfolios Premium) Pros Check mark icon A check mark. It indicates a confirmation of your intended interaction. No minimums; commission-free trading on stocks, ETFs, and options Check mark icon A check mark. It indicates a confirmation of your intended interaction. Thousands of no-load mutual funds and 50+ Schwab-managed funds; fractional shares (Stock slices) available Check mark icon A check mark. It indicates a confirmation of your intended interaction. Automated and advisor-managed accounts available Check mark icon A check mark. It indicates a confirmation of your intended interaction. Multiple trading platforms; stock screeners and other trading tools Cons con icon Two crossed lines that form an ‘X’. $5,000 minimum for automated Schwab Intelligent Portfolios is on the higher end con icon Two crossed lines that form an ‘X’. Schwab’s no-load funds have a $100 minimum; some competitors offer lower minimums Product Details App store rating: 4.8 iOS/3.8 Android Consider it if: You want a wide range of account types, with easy-to-use apps and web interfaces Awards: Investor’s Business Daily recognized Charles Schwab as one of its Most Trusted Financial Companies for 2021. Best for all levels of investors Fidelity Investments Insider’s Rating A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star 4.86/5 Icon of check mark inside a promo stamp It indicates a confirmed selection. Perks Fidelity Investments offers a wide range of investing products, including fractional shares. Account Minimum $0 ($25,000 Fidelity Personalized Planning & Advice) Fees 0% ($0, $3/month, or 0.35% for robo-advisor) Pros Check mark icon A check mark. It indicates a confirmation of your intended interaction. No account minimum or account fees Check mark icon A check mark. It indicates a confirmation of your intended interaction. No commissions for stock, ETF, and options trades; fractional shares available Check mark icon A check mark. It indicates a confirmation of your intended interaction. Thousands of no-transaction-fee mutual funds and fee-free mutual funds Check mark icon A check mark. It indicates a confirmation of your intended interaction. Several research tools and trading platforms available Cons con icon Two crossed lines that form an ‘X’. Fidelity Go accounts cost more for investors with higher account balances con icon Two crossed lines that form an ‘X’. Representative-assisted trades are slightly more expensive than other brokerages con icon Two crossed lines that form an ‘X’. No cryptocurrencies Product Details Promotion: None at this time App store rating: 4.8 iOS/4.3 Android Awards: Morningstar named the Fidelity HSA as the best HSA provider in 2019, 2020, and 2021. Consider it if: You’re focused on long-term investing and retirement. TD Ameritrade Insider’s Rating A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star 4.83/5 Icon of check mark inside a promo stamp It indicates a confirmed selection. Perks TD Ameritrade offers a large range of investment options, including stocks, bonds, ETFs, mutual funds, futures, bitcoin futures, and more. Account Minimum $0 ($5,000 or $25,000 for managed accounts through Schwab) Fees 0% ($300 one-time fee and $30/month for advisor-managed account through Schwab); $49.95 or $74.95 for no-load mutual funds, $2.25 per futures contract, and $0.65 per options contract Pros Check mark icon A check mark. It indicates a confirmation of your intended interaction. Free commissions on stock, ETF, and option trades Check mark icon A check mark. It indicates a confirmation of your intended interaction. No minimum requirement to get started with brokerage account Check mark icon A check mark. It indicates a confirmation of your intended interaction. Large investment selection Check mark icon A check mark. It indicates a confirmation of your intended interaction. Research and educational resources available Cons con icon Two crossed lines that form an ‘X’. No fractional shares con icon Two crossed lines that form an ‘X’. Robo-advice and managed portfolios are more expensive con icon Two crossed lines that form an ‘X’. No cryptocurrencies Product Details Promotion: None at this time. App store rating: 4.5 iOS/3.6 Android Consider it if: You want multiple apps for different trading experiences and goals Best for retirement-focused investors Vanguard Insider’s Rating A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star 4.49/5 Icon of check mark inside a promo stamp It indicates a confirmed selection. Perks You can trade stocks without commissions here, and Vanguard offers margin accounts and commission-free options trading for more advanced investors. Account Minimum $0 ($3,000 for Vanguard Digital Advisor; $50,000 for Vanguard Personal Advisor Services) Fees 0% (0.20% to 0.30% for professionally managed portfolios) Pros Check mark icon A check mark. It indicates a confirmation of your intended interaction. Commission-free stocks, ETFs, and options Check mark icon A check mark. It indicates a confirmation of your intended interaction. Brokerage, automated, and advisor-managed accounts available Check mark icon A check mark. It indicates a confirmation of your intended interaction. Thousands of low-cost mutual funds Check mark icon A check mark. It indicates a confirmation of your intended interaction. Multiple resources with expert analysis and market insights Check mark icon A check mark. It indicates a confirmation of your intended interaction. Several retirement accounts and services for retirement plan participants Cons con icon Two crossed lines that form an ‘X’. Higher options contract fee than other discount brokerages (Vanguard charges $1 per options contract) con icon Two crossed lines that form an ‘X’. No separate trading platforms for advanced traders; no fractional shares con icon Two crossed lines that form an ‘X’. No cryptocurrencies Product Details Promotion: None at this time. App store rating: 4.7 iOS/ 1.8 Android Consider it if: You’re a long-term focused investor looking for access to a variety of account types and investment choices. Awards: Morningstar gave Vanguard a ‘High’ assessment in its 2022 Robo-advisor Landscape report, listing it as the #1 platform out of 16 robo-advisors Betterment Investing Insider’s Rating A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star 4.6/5 Icon of check mark inside a promo stamp It indicates a confirmed selection. Perks Betterment offers individual or joint accounts, IRAs, trust accounts, and cash reserve or checking accounts. Account Minimum $0 to open, $10 to start investing ($100,000 for premium plan) Fees 0.25%/year for digital plan; 0.40%/ year for premium plan; 1%/year for crypto portfolios Pros Check mark icon A check mark. It indicates a confirmation of your intended interaction. No minimum for standard investing account Check mark icon A check mark. It indicates a confirmation of your intended interaction. Goal-based planning, tax-loss harvesting, charitable giving, and socially responsible investing available Check mark icon A check mark. It indicates a confirmation of your intended interaction. Access to certified financial planners Check mark icon A check mark. It indicates a confirmation of your intended interaction. Mobile app with external account syncing options Cons con icon Two crossed lines that form an ‘X’. You’ll have to pay to consult a human advisor, unless you have the premium plan Product Details Promotion: None at this time. App store rating: 4.7 iOS/4.5 Android Consider it if: You want access to robo-advice with multiple service levels. Best for banking-brokerage combo Ally Invest Insider’s Rating A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star 4.48/5 Icon of check mark inside a promo stamp It indicates a confirmed selection. Perks Ally’s self-directed brokerage accounts also offer commission-free trading on stocks, ETFs, and options. Account Minimum $0 ($100 for Robo Portfolios; $100,000 for Ally Invest Personal Advice) Fees 0% (up to 0.85% for Ally Invest Personal Advice; bonds, mutual funds, and certain stocks have fees) Pros Check mark icon A check mark. It indicates a confirmation of your intended interaction. No account minimums or commissions for trading Check mark icon A check mark. It indicates a confirmation of your intended interaction. Automated portfolios free of advisory or management fees; Ally Invest Personal Advice available Check mark icon A check mark. It indicates a confirmation of your intended interaction. Options contracts only cost $0.50 per contract Check mark icon A check mark. It indicates a confirmation of your intended interaction. Bank accounts, mortgage refinancing, car loans, and personal loans available through Ally Bank Cons con icon Two crossed lines that form an ‘X’. Thousands of mutual funds but no no-transaction-fee mutual funds con icon Two crossed lines that form an ‘X’. No cryptocurrencies Product Details App store rating: 4.7 iOS/ 3.9 Android Consider it if: You want easy-to-use apps paired with excellent investing, checking, and savings accounts. Best for round-up investing Acorns Invest Insider’s Rating A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star 3.9/5 Icon of check mark inside a promo stamp It indicates a confirmed selection. Perks Earn a $20 bonus when you open a new account. Account Minimum $0 ($5 to start investing) Fees Monthly plans start at $3 for Personal, $5 for Personal Plus, and $9 for Premium Pros Check mark icon A check mark. It indicates a confirmation of your intended interaction. Low fees Check mark icon A check mark. It indicates a confirmation of your intended interaction. Helpful automatic saving and investing tools Check mark icon A check mark. It indicates a confirmation of your intended interaction. Portfolio suggestions built to match your risk level Check mark icon A check mark. It indicates a confirmation of your intended interaction. “Found money” invests a percentage of your purchases from certain companies Cons con icon Two crossed lines that form an ‘X’. Flat monthly fee is on the high side, especially for smaller accounts con icon Two crossed lines that form an ‘X’. The option to choose individual investments requires a Premium plan Product Details Get started in under 5 minutes $5/month gets you a full financial wellness system with connected investment, retirement, and saving accounts. Invest in a diversified, expert-built portfolio No expertise required Invest your spare change with Round-Ups (more than $900M invested in 2021 just from RoundUps!) Set easy, automatic Recurring Investments See your account performance right in the app, and play with our interactive Potential screen All you need to start investing is $5 18M downloads Best Online Brokerages for Beginners — Frequently Asked Questions (FAQs) A brokerage account is like a checking account for your investments. Where a checking account holds your cash, a brokerage account holds your stocks, treasury bonds, funds, and other investments. When you open and fund a brokerage account, you can buy and sell investments. Unlike the cash in a bank account, however, the value of the investments in your brokerage account can go up and down. It’s easiest to manage a brokerage account online using a website or mobile app. Online brokerages allow you to transfer funds, enter trade orders, monitor your positions, research current and future investments, and handle any other transactions you need to make in a brokerage account. In the US, brokerage accounts are insured by the Securities Investor Protection Corporation (SIPC). If your brokerage goes out of business, you are guaranteed to get your money and other assets back, up to SIPC limits. Brokerage firms are regulated by the Securities and Exchange Commission and Financial Industry Regulatory Authority (FINRA), among other government agencies and industry groups. If you want to invest, you need a brokerage account. That goes for long-term investing for retirement, short-term gains, or anything in between. Make sure you’re covering your bills before adding investments to your budget. Most modern brokerage accounts are free to open and keep. You shouldn’t be paying any recurring fees or minimum charges if you’re looking for the best brokerage account for most investors. You should also look for brokerage accounts with no commissions for stock, ETF, and options trades. You may see some fees for phone or broker-assisted trades, as well as commissions for some mutual funds and other investments. You should not have to pay any fees to keep an account open and store your cash and investments there. The best brokerage for you will reflect your investing style and what you want from a brokerage (for example, robo-advising or active trading, or access to a human financial advisor). Everyone’s investment goals and preferences are unique, so there is no perfect brokerage for everyone. Once you know what features you’re looking for, look at costs, platforms, available account types, and investment options to lock in the decision on what’s best for you. What to Look for When Choosing a Brokerage for Beginners Online brokerages providing multiple asset classes, secure storage, stock market access, and an intuitive interface are the best kinds of brokers for beginners. The online brokerage should also offer various account types, as well as low minimums and fees. The best brokerages for beginners offer a handful of investing and goal-building tools, such as tax loss harvesting features, automatic rebalancing tools, portfolio management, and other similar financial planning tools. Educational resources, like webinars and blogs, are also extremely beneficial for new investors. Financially, when assessing which online brokerage is best for you, compare different minimums and fees. Low minimums and fees are more suitable for beginners who are just getting acquainted with investment products and services. More advanced online brokerages will require higher fees and minimums in order to access advanced trading and charting tools. Best Overall Online Brokerage for Beginners SoFi SoFi is the best broker for beginners seeking a simple and straightforward investing experience. It has a slimmer lineup of accounts than some bigger competitors, but it covers the most common needs for managing your investments. It also offers a great bank account, lending products, and other financial tools to help you get an understanding of your investments. SoFi Invest offers active investing accounts and managed robo-adviser accounts with no recurring fees and a $1 minimum to get started. Those include both taxable investment accounts and IRA or Roth IRA retirement accounts. The only big downside of these accounts is that you can only trade stocks, ETFs, and cryptocurrencies. There are no mutual funds available through SoFi. Stock and ETF trades are commission-free. SoFi offers automated investing for $0. On the cryptocurrency end, you can exchange bitcoin, ether, litecoin, and 22 other coins and tokens. SoFi charges up to 1.25% on each crypto transaction. While it doesn’t have quite as robust an offering, SoFi comes with several very valuable perks at no extra charge. That includes free financial planning sessions, career coaching, and other perks for SoFi members. SoFi is currently one of the only online brokerages that plans to offer Instacart stock to its users. What to look out for: While SoFi is generally a great choice for investors who value low costs, it has a fairly limited investment selection. It primarily offers stocks, ETFs, and cryptocurrencies. SoFi Invest review Best Overall Online Brokerages for Beginners Runner-up Charles Schwab Charles Schwab is a great choice for beginners because it offers something for investors with virtually any investment need. Not only does it give you the ability to manage all of your banking and investments with one login, but its investment tools are also designed in a way that they can grow with you as you learn more and level up your investing style. For investors who want to manage everything themselves, you can choose self-directed traditional brokerage and retirement accounts where you pick all of your investments with no commissions for stock or ETF trades. These accounts have no fees and no minimum balance requirements. Charles Schwab also offers a robo-adviser, Charles Schwab Intelligent Portfolios, that can manage all of your investments for you for no added charge. But you’ll need at least $5,000 to use this account. If you want to take automated investing a step further, you can upgrade to Schwab Intelligent Portfolios Premium. This account combines robo-advice with unlimited guidance from a certified financial planner (CFP). Note, however, that you’ll need a minimum of $25,000 to get started. The account has a $300 one-time planning fee and includes a $30 monthly fee. Schwab is best for investors who want every potential investment need covered at a very low cost. Whatever your needs are in the future, odds are Schwab will have a solution that works for you. What to look out for: Schwab’s robo-advisor, Schwab Intelligent Portfolios charges no advisory fees, but it has a higher account minimum requirement ($5,000) than most automated accounts. Best Online Brokerage for All Levels of Investors Fidelity Fidelity is a top choice if your main goal is investing for retirement. Fidelity offers a wide range of accounts with no fees or minimum balance requirements, as well as a suite of investor tools and resources focused on helping customers reach their retirement goals. In addition to free stock and ETF trades, Fidelity Investments customers have access more than 10,000 mutual funds with no transaction fees. Among those are four funds from Fidelity that charge no expense ratio (that means no fund fees). Fidelity also offers a handful of useful tools and calculators. One favorite is the Retirement Score, which helps you assess your retirement preparation and includes guidance to help you reach your goals. Fidelity Go is Fidelity’s robo-adviser offering; it’s a solid product, though fees are slightly higher on some balances than competitors such as Betterment. Fidelity is a large brokerage that can handle just about anything. But retirement is definitely a specialty. What to look out for: The brokerage offers a long list of tradeable assets, but it isn’t the best option for those who want to invest in cryptocurrencies. Fidelity Go review Best Active Trading Online Brokerage for Beginners TD Ameritrade If you have plans to manage your account actively and are interested in the fast-moving world of options trading, TD Ameritrade could be the best choice for your needs. TD Ameritrade offers similar low fees to other large investment brokerages, with many account types available with no recurring fees and no minimum balance requirements. As with most other brokerages on this list, there are no fees for stock or ETF trades as well as no base fee for options trades. TD Ameritrade stands out for active traders due to its suite of investment platforms. Brand new investors will probably be most comfortable on the TD Ameritrade website and using the standard TD Ameritrade mobile app. As your investment chops improve, you can upgrade to the professional-quality thinkorswim mobile and desktop platforms. One thing to note about TD Ameritrade is its acquisition by Charles Schwab. Schwab is our top brokerage on this list and plans to keep beloved trading tools from thinkorswim post-acquisition, so it’s still worth considering as your new brokerage when starting out. Another thing to note is that TD Ameritrade’s robo-adviser and managed accounts — Essential Portfolios, Selective Portfolios, and Personalized Portfolios — are no longer available to new clients. You’ll have to set up managed or automated accounts through its affiliate, Charles Schwab. What to look out for: TD Ameritrade doesn’t allow customers to invest in fractional shares. TD Ameritrade review Best Retirement-focused Online Brokerage for Beginners Vanguard Vanguard has long been a one-stop shop for all things investing. The brokerage’s investment selection includes self-directed accounts, automated investing accounts (robo-advisors), IRAs, education savings plans, and much more. Plus, like many of the brokerages listed above, it offers commission-free trading for stocks, ETFs, and options. Vanguard also gives you access to mutual funds, bonds, and CDs, and many of its mutual funds are actively managed, meaning the brokerage itself oversees the funds. If you’re more of a hands-off investor, Vanguard’s Vanguard Digital Advisor and Vanguard Personal Advisor Services automated accounts might suit you. The first, Vanguard Digital Advisor, builds a personalized portfolio of Vanguard ETFs for you based on your preferences. Vanguard Personal Advisor Services, on the other hand, is an advisor-managed account that allows you to work one-on-one with experienced Vanguard advisors. Beginners might also appreciate the brokerage’s vast suite of educational resources. Vanguard offers both a library of insights and guides on a variety of investing topics, and it additionally provides market analysis and expert research. What to look out for: Vanguard offers competitive products for long-term focused investors, but some of its products that best suit active traders (e.g., options) fall short of its competitors. For instance, options contracts will cost you $1 each. This is higher than the options contracts fees for many brokerages. In addition, Vanguard doesn’t offer any additional trading platforms for advanced traders. Vanguard Digital Advisor review Best Robo-advising Online Brokerage for Beginners Betterment Investing Betterment is the largest independent online financial advisor. If you are looking for an investment experience where you explain your investment goals, hand over your money, and someone else takes care of everything for you, Betterment is a great broker for beginners. The term “robo-adviser” is intimidating to some people, but rest assured an actual robot isn’t sitting there picking stocks for you. Instead, you answer some basic questions about yourself and your investment goals when signing up. Based on your answers, Betterment Investing will then provide investing advice and recommendations based on the goal details you provided. Betterment is good for both taxable and retirement accounts. Pricing starts at 0.25% of your portfolio balance per year, though you can pay more for a plan that includes access to a human financial adviser as well. For most beginners, the basic plan covers your needs. What to look out for: You’ll have to pay extra to take advantage of human advisor guidance if you can’t meet the $100,000 minimum attached to Betterment’s premium account. Betterment review Best Banking-brokerage Combo Online Brokerage for Beginners Ally Invest Most of the brokerages above offer some type of integrated bank account, but if you are looking for the best bank account and brokerage combo, Ally Invest may be the best option for your needs. Ally Bank is a broker for beginners that offers some of the highest-rated checking and savings options out there, and it also offers a low-fee investment platform that works well for beginners. The investment side of Ally Invest can handle your taxable or retirement accounts. It features commission-free stock and ETF trades and no base fee for options. There are no transaction fees for mutual fund trades. Managed portfolios are available, too, with no advisory fees and a $100 minimum balance. Ally Invest’s Robo Portfolios rely on ETFs, and Ally manages and monitors each portfolio daily. The robo-advisor also offers four different portfolio options: Core, Income, Tax optimized, and Socially Responsible. Ally Invest doesn’t have the flashiest or fullest-featured trading platform, but it gets the job done and makes it easy for beginners to manage their banking and investments with one login. What to look out for: Ally doesn’t offer any cryptocurrencies directly, but you can get exposure to crypto through Ally Invest Funds that include crypto assets. Ally Invest review Best Round-Up Investing Online Brokerage for Beginners Acorns Acorns is an online broker ideal for passive investors and beginners seeking a mobile-friendly, easy-to-use platform. While Acorns doesn’t offer as many bells and whistles as some of its competitors, you can invest extra change (aka round-ups or “found money”) automatically by linking your card to your Acorn account. Acorns mainly offers ETFs, which are made up of a diverse selection of stocks, bonds, and real estate assets. After filling out a questionnaire about your time horizon, risk tolerance, and goals, you can choose to invest in a Core portfolio or an ESG portfolio. Acorns then creates a personalized investment portfolio based on your preferences. You can now also invest in bitcoin-linked ETFs. But Acorns doesn’t offer direct crypto trading. The online brokerage only requires $5 to start investing. You can open a regular brokerage account or retirement account, such as a traditional IRA, Roth IRA, or SEP IRA, through Acorn Later. The platform also offers custodial accounts called Early accounts. What to look out for: Acorns is more expensive compared to similar platforms as it charges $3 per month for a personal account, $5 for Personal Plus, and $9 for Premium. It also doesn’t offer mutual funds or crypto. Other Online Brokerages for Beginners We Considered Firstrade: Firstrade isn’t as well known as some others on this list, but it’s been around for decades and offers commission-free trades for most assets including no per-contract fee for options and no commissions for any mutual fund trades. The trading platform isn’t as modern and polished as some competitors, but the price is right. Webull: Webull is also almost completely free to use; there are no account fees or trading commissions. You can trade stocks, options, ETFs, and cryptocurrencies. But while it’s available account types include taxable investment accounts and IRAs, it doesn’t currently offer joint brokerage accounts, education savings accounts, or automated investing options. E*TRADE: E*TRADE is a major brokerage with a long history of serving online traders. It has a great web platform and works well for beginner to experienced traders. E*TRADE is currently in the process of being acquired by Morgan Stanley. Interactive Brokers: Interactive Brokers are best for investors who are looking to become more active traders. It may be good for beginners looking to invest time to learn the markets and how higher-powered trading tools work. Merrill Edge: Merrill Edge is part of Bank of America. It does a good job of rewarding very loyal customers with high balances across Bank of America and Merill accounts. It’s less ideal for traders who don’t have a strong relationship with Bank of America. tastytrade: tastytrade (previously called tastyworks) is an online brokerage account that offers stocks, ETFs, cryptocurrencies, options, futures, and more. Traders can choose to open a cash account or a margin account. The platform’s educational blog, tutorial videos, and Follow Feed feature can be beneficial to beginners. But tastytrade, in general, is best suited for experienced active traders. Uphold: Uphold is an online brokerage that mainly offers crypto and currency trading between different asset classes. Its easy-to-use platform makes it a solid option for beginners looking to earn staking rewards or join Uphold’s Affiliate Program. However, there are numerous customer complaints against Uphold. Plus, it has higher spread fees compared to other online brokerages for beginners Why You Should Trust Us: Our Methodology We applied Personal Finance Insider’s rating methodology for investment platforms to consider the best online brokerages for beginners. We considered a dozen brokerages and zeroed in on options that offered competitive pricing and features most important to beginner investors and traders. To make it onto this list, brokerages must offer commission-free stock and ETF trades and no recurring account fees (not including robo-advisors). Other important focus areas include available investments, types of accounts, and high-quality investment platforms. Strong investment research and education resources were another plus, but carried less weight in the decision process. <br /> Eric Rosenberg Freelance Writer Eric Rosenberg is a finance, travel, and technology writer in Ventura, California. He is a former bank manager and corporate finance and accounting professional who left his day job in 2016 to take his online side hustle full-time. He has in-depth experience writing about banking, credit cards, investing, and other financial topics, and is an avid travel hacker. When away from the keyboard, Eric enjoys exploring the world, flying small airplanes, discovering new craft beers, and spending time with his wife and little girls. You can connect with him at Personal Profitability or EricRosenberg.com. Read more Read less Rickie Houston Senior Wealth-Building Reporter Rickie Houston was a senior wealth-building reporter for Business Insider, tasked with covering brokerage products, investment apps, online advisor services, cryptocurrency exchanges, and other wealth-building financial products. Before Insider, Rickie worked as a personal finance writer at SmartAsset, focusing on retirement, investing, taxes, and banking topics. He’s contributed to stories published in the Boston Globe, and his work has also been featured in Yahoo News. He graduated from Boston University, where he contributed as a staff writer and sports editor for Boston University News Service. Read more Read less Elias Shaya Jr Compliance Associate Elias Shaya is a junior compliance associate on the Personal Finance Insider team based in New York City. Personal Finance Insider is Insider’s personal finance section that incorporates affiliate and commerce partnerships into the news, insights, and advice about money that readers already know and love. The compliance team’s mission is to provide readers with stories that are fact-checked and current, so they can make informed financial decisions. The team also works to minimize risk for partners by making sure language is clear, precise, and fully compliant with regulatory and partner marketing guidelines that align with the editorial team. Elias is the point person for the loans sub-vertical and works with the editorial team to ensure that all rates and information for personal and student loans are up to date and accurate. He joined Insider in February 2022 as a fellow on the compliance team. Elias has a Bachelor of Science in International Business from the CUNY College of Staten Island. Prior to joining Insider, he volunteered at the New York Presbyterian Hospital, where he worked with the biomedical engineering department. In his spare time, Elias enjoys exploring new restaurants, traveling to visit his family in Lebanon, and spending time with friends. Read more Read less Tessa Campbell Junior Investing Reporter Source link Post Views: 31 Post navigation The Younger-Than-40 Millionaire Club Is Rewriting The Investing Rule Book By Ditching The Stock Market In Favor Of Unconventional But More Stable And Profitable Options 7 of the Best Ways to Invest $5,000