When choosing an online stockbroker, you must know your expertise and what the brokerage firm is widely famous for. If you want to learn about the best online brokerage accounts, this blog post is for you. These 11 highly-rated online brokerage accounts are well-suited for beginner and experienced investors.
1. Charles Schwab
Whether you’re a beginner or an experienced trader, Charles Schwab is the perfect platform for you due to its multiple investment options and zero platform charges. You can start from the bare minimum you have and excel thanks to Robo-advisors.
2. Fidelity
Fidelity is the next best option for beginners and advanced traders thanks to its free-fee platform and multiple investment options. The amazing customer service and Robo-advisors greatly help as they guide your trading decisions. You can start with $0 through this brokerage.
3. M1 Finance
With M1 Finance, you can have automated account management without fees. However, to invest in stocks and ETFs (the only investment types this brokerage offers), you require at least $100.
4. E*TRADE
This platform is the best for you if you’re trying out your luck in options trading. The 24/7 customer service offers incredible insights and helps whenever you need it. However, the high margin rates often repel investors.
5. Firstrade
Another great platform for options trading is Firstrade. The zero commission and contract fee option makes it a worthy opponent to E*Trade. However, you only get customer service during regular business hours.
6. TD Ameritrade
With TD Ameritrade, you can start your investment journey with $0 through various investment types. Despite that, the high charges on no-load mutual funds often repel beginners.
7. Robinhood
For commission-free fast trades, Robinhood is your partner. You can also trade crypto with this platform. However, the resource library and customer support could be better.
8. ZacksTrade
One of the biggest drawbacks of Zacks is that you must have $2.5K to begin investing. If you have this sum, you can enjoy various perks, including the best international trading market access. The fee structure is slightly complex, too, so choose wisely.
9. USAA
For active military personnel, veterans, and their family members, USAA is the best trading platform. The platform operates through Charle Schwab, which allows individuals to enjoy similar perks.
10. Acorns
Acorns’ Round Up strategy allows beginner investors to link the app to their main account. The change accumulated in the main account is then invested when it reaches $5. However, the monthly fee percentage-wise is slightly higher on some accounts.
11. Stash
Stash offers a similar investment method to Acorns’ Round Up strategy. Moreover, its Stock-Back card, which works like a debit card, only allowing individuals to earn a stock each time they use it, is genius. However, automated account management services aren’t available.
Whichever stockbroker you choose, you must be realistic about your expertise and limitations. That’s how you can learn and earn together without losing large sums.
