Are you new to investing? Complicated financial jargon and the risk of failure can be very intimidating in the world of investing. However, you need not worry because we have you covered. Getting a brokerage account may seem daunting but getting started can be quite easy if you have access to reliable online stockbrokers.
If you are looking for a way to begin your investing journey, you have come to the right place. This blog will cover the best online stockbrokers that are much more than a platform for placing trades. They will help you navigate the process of investing by playing multiple roles, such as that of a financial advisor, an investment analyst, a teacher, etc.
Stockbrokers are people who have the license to purchase and sell securities on the stock exchange. The importance of choosing the right stockbroker cannot be understated. They provide support over the phone, live chat, and email.
We review some of the best beginner-friendly online brokerages. Now you don’t have to go through costly transactions over the phone as stockbrokers perform the same task for you in seconds. The best part about online stockbrokers is that they cost half as much as full-service brokers.
Charles Schwab
Charles Schwab stands tall amongst their rivals for their highly effective customer support options. They offer a highly consumer-friendly client portal and mobile app which is easy to navigate and has a full range of features. An extensively branched network of offices and generous bonuses offered to beginners in investment makes it a top contender for the best online brokers.
E-Trade Financial
E-trade Financial is famous primarily for being the pioneer of online brokerages and has developed its services multiple folds in recent years. It has two mobile apps which offer extensive knowledge and guidance on the fundamentals of investing. Other features include the ability to track trading stocks, mobile check deposits, and the latest updates on the current market trends.
TD Ameritrade
TD Ameritrade facilitates and nurtures beginner investors like no other brokerage. It offers an outstanding range of educational resources, including an immersive curriculum, workshops, and video tutorials. Users can practice paper trading on their thinker swim platform while receiving a detailed analysis report on their investment practices. Furthermore, highly inclusive chat rooms provide an excellent opportunity to interact with experts without the fear of judgment.
Fidelity Investments
Fidelity Investments is an all-rounder in customer service and research resources. This platform provides innovative features like screening tools for fee-free funds, fractional share trading, and easy identification of risks involved in exchange-traded funds (EFTs). First-time users can choose their preferred basic layout and receive text and email alerts, thus helping them navigate through their journey of investments at low-risk possibilities.
Robinhood
Robinhood offers the most minimalistic app, which is easy to use while effectively delivering financial updates. Daily events gathered from popular platforms, like Wall Street Journal and Reuters, are available in the app’s news section. Podcasts and market trends reports offered in the Robinhood Gold Subscription have increased its popularity as one of the best online brokers.
