There are certain factors to look for while choosing an online investment platform for the beginner. First of all, the platform has to be beginner-friendly and easy to use. Secondly, there have to be different educational materials for the beginners to get on the track. And finally, a good online investment platform for beginners must offer the best stock market research.
Below are some of the top-rated online investment platforms beginners can try.
Fidelity offers industry-leading research, $0 trades, great trading tools, and a mobile app that is simple to use along with retirement services. The platform has been serving more than 40 million customers. It also offers all the brokerage services an investor expects. The Active Trader Pro desktop platform of Fidelity is ideal for active trading, offering both options trading and day trading. The comprehensive research of the platform helps investors in finding ETFs, stocks, mutual funds, etc.
- TD Ameritrade
TD Ameritrade offers excellent trading platforms, $0 trades, fantastic market research, extensive educational resources, and great customer support. Their website is easy-to-use and has a wonderful mobile app that is perfect for daily investors. It is an ideal platform for active traders, be it day traders, futures traders, or options traders. The customers can get their accounts anywhere including Alexa, Twitter, Apple messages, and Facebook.
E*TRADE is known to be one of the first online brokerages in America. It offers two great mobile apps and $0 trades. The Power E*TRADE platform is ideal for beginners as well as for options trading and active trading. The sleek design and wide range of trading tools are the top attractions of the platform. They are top-rated in offering investments, futures trading, active trading, IRA accounts, and options trading. Even though it is easy to use, the platform does not offer comprehensive materials of education like its competitors.
- Merrill Edge
Merrill Edge is popular with its $0 trades and high-quality research tools, specifically ESG research. The customer service of the platform is also great. The Portfolio Story and the Stock Story are the proprietary tools of the platform and they also offer strong educational resources for beginners. For investors searching for a platform to manage brokerage and banking together, Merrill Edge can be the perfect pick. Wonderful universal account management, $0 stock and ETF trades, excellent customer service, etc are some of the popular attractions of the platform.
The distinct community experience and the beginner-friendly trading platforms are the top attractions of Webull. However, the platform does not have the features and trading tools for everyday investments, unlike its competitors. This online broker is highly mobile-focused and the app is easy-to-use and well-designed. It offers $0 trades on ETFs/stocks along with crypto trades and $0 option trades. Futures, bonds, and mutual funds are currently unavailable on the platform. Webull also allows users to sell shares short and trade fractional shares. There are no minimum account requirements and traders can get easy access to the IPOs.