Recently, you decided that it’s time to start taking your finances more seriously. Along with learning how to budget, you’ve decided to learn how to invest and open a brokerage account.
It’s a daunting task, to say the least. How do you know what the best brokerage firms are?
To make this task more manageable, you’ll want to open an account that provides you with access to easy-to-digest educational resources, a simple website/app, and realistic minimums, to name a few.
In this post, we’ve rounded up 10 of the best brokerage firms for beginners, so you can get started building your portfolio.
1. Ally Invest
Open an account with Ally Invest, and you’ll receive two great benefits: no account minimums and some of the most affordable commissions in the industry as a whole.
If you’re after an intuitive app and the ability to trade for cheap, consider Ally Invest.
E*TRADE caters to all investors, from beginners to those with established portfolios, and even long-term investors.
With E*TRADE, you can access thousands of ETFs and mutual funds and trade for free.
3. Merrill Edge
If you’re looking for amazing customer support in addition to quality research and low fees, Merrill Edge is your best bet.
When you’re new to the investing game, have amazing customer support on your side only serves to strengthen your success.
4. TD Ameritrade
TD Ameritrade has a great reputation for a reason.
They offer excellent products, tools, and research, in addition to no account minimums, making the brokerage firm decision an easy one.
With Fidelity, you get a wide range of benefits.
From high-quality research to an easy-to-navigate platform to a highly-rated mobile app.
The $0 account minimum and low commissions certainly don’t hurt, either.
6. Charles Schwab
Want an established broker that’s also inexpensive?
Charles Schwab has reduced fees on ETFs and mutual funds, as well as account fees, and lowered base commissions to only $4.95/trade – making it one of the least-expensive options.
Robinhood allows you to invest free from your phone or desktop, and choose from a range of options like crypto, stocks, and ETFs.
Oh, and did we mention there are unlimited free stock trades? No? Well, now have.
To round out your portfolio with an established name, consider investing in Vanguard. Once you’ve begun honing your skills as an investor, use Vanguard to invest in specific sectors or companies.
In the market for a discount broker? You’ll want to turn to tastyworks for their commission-free closing trades and a mere $0.10 clearing fee.
10. Interactive Brokers
If you’re looking to invest internationally, invest with Interactive Brokers. With Interactive Brokers, you’ll get access to global stock exchanges in places like Belgium, France, Italy, Japan, and more.
Invest in These Brokerage Firms
Finding the right brokerage firms for your beginner accounts doesn’t have to be difficult.
Now that you have the down low on 10 of the best firms for beginners, making the decision on which to use should be easy.
But if you still don’t feel ready to head to market, check out these 5 brilliant stock tips.