Buy Shares Online - How to Buy and Sell Stocks for Your Account
Ready to start investing but not sure where to start? We'll help you get started with a list of the best online stockbrokers for beginners. We know that everyone's financial situation and goals are different, so we have carefully selected a variety of brokers to help you find the one that suits your needs.
We also have a guide explaining what to look for in a stockbroker, where to buy stocks, and some terms you need to familiarize yourself with when looking for the best stock trading platform for beginners.
How to Choose the Best Online Stock Broker for Beginners
There is no perfect broker for everyone, but here are some important factors to consider when looking for a beginner stockbroker.
Cost structure: For beginners, the best brokers don't charge commissions for online stock and ETF trading (which is what beginners typically focus on) - but many brokers charge commissions or fees for more complicated steps, Such as trading options, mutual funds, and other products.
Minimum Account: Some stockbrokers require a minimum deposit to open an account, ranging from $5 to $500, while others don't require it at all. We focus our selection on brokers that do not have a minimum account. These low barriers to entry into the broker allow anyone to start investing, even without a lot of capital.
Fund varieties: Picking individual stocks is not suitable for everyone, especially beginners. The best stock brokers for beginners offer low-cost exchange-traded funds and free mutual funds to help you make smart investments without much stock market knowledge.
Account Options: In the Stockbroker section, you can choose between a cash account and a margin account:
Cash Account: You can only use the funds in your account.
Margin Account: You can borrow money from a broker to invest. However, margin trading is risky and generally not a good idea for beginners.
Features and Support: If you just want to put your recurring money into low-cost ETFs and grow your money, then you probably just need a neat investing app. If you're interested in taking your investing to the next level and learning how to pick individual stocks and take control of your portfolio, look for a platform packed with educational resources, research, news, and customer support to help you make informed decisions along the way Your progress - and offers more advanced trading features that you can use as your knowledge grows.
Research: Many of the best stockbrokers for beginners offer research opportunities so you can learn more about market sectors as well as individual stocks, ETFs, and mutual funds.
News: Some beginner stock trading platforms provide news updates so you can keep track of company and stock market events.
Customer Support: You should be able to pick up the phone and speak to a live person who can help you with any issues that arise.
Educational resources: If you are new to investing, you may not be familiar with the key terms needed to manage your account. If you don't know what a mutual fund is, you probably shouldn't buy one. Many beginner stockbrokers have an educational resources section with information that can help you learn more about investing and gain confidence.