Best Online Brokers For Beginners Of August 2023 – Forbes Advisor

Fidelity Investmentsis an all-around great choice for beginners, scoring well in every category of our review. We found that Fidelity is very competitive in the area of commissions and fees, and it provides a wealth of educational resources and dependable customer service.

Fidelity’s flagship Active Trader Pro platform is both feature rich and easy to use. It allows you to select between a number of preset layouts, including a basic layout for first-time users.

The platform’s News and Research section has some outstanding resources for beginners. The watchlist tool allows you to easily track the stocks you are most interested in, and it also enables you to set email and mobile alerts for events like a stock increasing above or falling below a set price level or certain percentage.

Beginners often don’t know what they want to invest in. Many want to avoid taking on the extra risk of putting their money into one or a few individual stocks. Fidelity makes it easy for new investors to identify the exchange traded funds(ETFs) and mutual funds that provide easy diversification and minimal risk.

Using the screener tool for mutual funds, users can search thousands of funds, including Fidelity’s own fee-free funds and those with low minimum investment requirements. Similarly, the ETF screener tool allows users to scan over 2,000 commission-free ETFs based on their interests.

Fidelity offers fractional share trading, which allows users to trade and invest in more than 7,000 stocks and ETFs using very small sums of money. This is a great way for beginners to get their feet wet and experience trading live while keeping their risk low.