These are volatile times in the financial markets. For those looking to get started trading in stocks, this uncertainty can be off-putting. However, slowly but surely things are starting to improve. The coronavirus effects will be around for years to come, but there is a definite, albeit slow, return to normality already happening.
In terms of the financial markets, this means it could be an ideal time to start that stock portfolio. Shares that have been hammered by the pandemic and market uncertainties are slowly starting to recover.
If you are a beginner wondering just where and how to get started, then this article sets out to list the top 5 online stockbrokers for beginners. They have all been selected for their ease of use, educational content, and high-quality market research.
Top 5 online stockbrokers for beginners
TD Ameritrade
For those that are uncertain about the whole prospect of playing the stock market, then TD Ameritrade might just be the perfect platform. This platform allows you to set up an account without the need for any deposit. This allows you to take advantage of their excellent learning materials, have a look around the markets, and get yourself comfortable with the business before investing any money.
They also have a strong Social Media presence with forums dedicated specifically to help beginners learn the ropes.
TD Ameritrade has specifically the new investors market, making it easy for anyone to get started with nothing to pay upfront.
E*Trade
E*Trade is another great option for the beginner. It has three browser-based platforms to work from, one of which is specifically geared towards beginners. There are also a couple of mobile apps to chooses from. Whichever platform you choose, there are a range of tools that are designed to help the beginner, including: –
• Portfolio Analysis
• Education
• Screening tools
You can also set up a demo account and practice investing before you take the plunge for real.
Fidelity
Fidelity has excellent online resources for the beginner, backed by an intuitive and easy-to-use browser interface and a superb app, Fidelity is a great choice for the novice investor. It also has one of the most highly-rated customer service departments in the business.
There are also regular live webinars as well as a library of pre-recorded ones to help build your knowledge.
Merrill Edge
For those that are existing Bank of America customers, then Merrill Edge is a fantastic choice. As a customer, you get instant access to cash transfers from your brokerage account and have access to a personal advisor at over 2,000 branches across America.
This is still a great choice even if you are not a Bank of America account holder. With browser and mobile app access, the platform has a massive resource of educational material to help get you started.
Ally Invest
Another brokerage with a fantastic customer service setup, making it ideal for the beginner. This is a progressive platform that is backed by the digital expertise of the AllyDirect bank. Ally Invest also satisfies the critical criteria of having plenty of educational material available to guide the beginner.
These learning resources are also not quite as “dry” as with some others. They are set out to be engaging, informative, and fun.