Top 5 best Broker Platforms for Beginners

Unless you have some friends or family members who know about finance and the stock market, it quickly gets confusing when you’re taking your first dive into the trading world. This is where prime brokerage services can come in handy. These things are not simple and help in the beginning can prevent a lot of mistakes.

Top 5 best Broker Platforms for Beginners

Fortunately, the latest platforms out there made it easy for newbies to start trading crypto, Forex, ETFs, and individual stocks. Here are our top 5 favorite trading platforms for beginners.

eToro

eToro is one of the most popular trading applications on the market. With the latter, you can start trading in just a few minutes on your PC or your smartphone. Furthermore, eToro takes no commission and offers many deposit options (Skrill, Neteller, Credit/Debit cards, Bank transfer, and Paypal). On the downside, there is a minimum deposit amount of $200 (credit cards) and $500 (bank deposit). Aside from that, eToro is a must-have for beginners and professional traders alike.

Robinhood

Robinhood is a major stock exchange application running on both iOS and Android. The company offers one free stock to its new users, and a 0% commission fee as well. Moreover, you can trade cryptocurrencies such as Bitcoin, Ethereum, and Litecoin.

However, you won’t become a Forex UK broker with the Robinhood app, since foreign exchange trades are not available. It is worth mentioning that there is no minimum deposit amount, nor any deposit fees. As a final note, you can’t use your credit card to fund your account here, unfortunately.

Join Our Small Business Community

Get the latest news, resources and tips to help you and your small business succeed.

Webull

Webull is another big competitor in the options market. Its minimalist interface is loved by hundreds of thousands of users. One of the big advantages Webull has over let’s say Robinhood, is that margin accounts don’t require any extra fee/subscription with a balance of $2000 minimum. However, bonds and mutual funds are mostly missing on Webull, which could be limiting one’s portfolio. All in all, with a solid interface and great features, we strongly recommend Webull for new traders.

Interactive Brokers

Interactive Brokers offers an adaptive environment for its different users. For beginners, you can use their latest IBKR lite application, which is commission-free and has no minimum or inactivity fees. The platform also allows you to earn some extra cash with its Stock Yield Enhancement Program. In conclusion, a definitive choice for beginners.

Quantfury

Quantfury is a bit less popular compared to the other 4 applications above, but that doesn’t mean it is any less good. An intuitive interface, perfectly accessible for beginners who are just looking at a new way to make money online. What’s even better? Their PC application is coming out in a couple of days, or perhaps it will be already out when you are reading this.

There you have it, our top 5 list of the best online brokers for beginners. Enjoy and good luck with your future investments.