Options: Options contracts are assets that give you the right or the responsibility to buy or sell a set number of stocks at a specified price in the future.The following are a few assets you’ll likely want to avoid investing in until you’re confident in your understanding of the market. Not every asset is equally as suitable for beginner investors. Most brokers also offer educational tools that you can use to learn more about the market before you jump into trading. You’ll also want to choose a broker with a clean, uncluttered interface that allows you to instantly see how your assets are changing in value over time. You’ll want to look for a broker that offers a straightforward account process and makes it easy to buy and sell assets. Online brokers specializing in beginner investing can make the sometimes-confusing stock market easier to master. Yes, a beginner shouldn’t be investing in futures or options, but you can better grow with a broker that has all the financial instruments you want as you gain confidence and build your portfolio. Stocks, crypto, ETFs, options, futures, etc. Offer a diverse collection of assets: As you learn to invest, you want to see a diverse asset selection that allows you to make the investments that are appropriate for you.Live chat, phone numbers, emails and even a physical address help you reach out to the broker effectively. Feature impeccable customer service: The best stock brokers-irrespective of their focus-should feature impeccable and accessible customer service.Moreover, you should seek out platforms that allow you to copy popular investors, try a demo account, watch videos or even take investing classes. You need to learn as much as you can to make investing fruitful. Offer educational content: A stock broker built for beginners should educate you about the markets, stocks, why to invest, when to invest, etc.Almost oversimplify the interface: This ensures that you know what’s happening, how and why.To that end, the best stock brokers for beginners tend to: If you feel confused or overwhelmed, you might be in the wrong place. What Should an Online Broker for Beginners Do?Īs you hunt for the best online stock broker for a novice-such as yourself-remember that the broker must make your life easy. Enforces Pattern Day Trading restrictions (accounts need to maintain a daily equity balance of at least $25k).
Interactive Brokers’ mobile app is also easily customizable, which can make for a better trading experience as you develop a strategy. Though Interactive Broker’s platform isn’t as straightforward as the other options on this list, it can be a viable option if you have a bit of trading experience but you’ve been out of the market for a while. Despite all these features, Interactive Brokers still maintains a $0 account minimum, and most traders won’t pay commission on their trades. (NASDAQ: IBKR) also offers unique assets not seen with many other platforms - like municipal bonds and metals. If this international access is too overwhelming, know that Interactive Brokers Group Inc. Interactive Brokers is an international investing platform that allows you to trade assets on 135 unique global markets. The following brokers are particularly easy to use, which is why they’re recommended for beginners. What to Look for in Quality Stock BrokersĪ number of stock brokers for beginners specialize in helping you learn about the market.What Should an Online Broker for Beginners Do?.Best Online Stock Brokers for Beginners.