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Written by Sam Levine, CFA, CMT, Blain Reinkensmeyer
Edited by Carolyn Kimball
Fact-checked by Steven Hatzakis
December 13, 2023
The best trading platforms for beginners offer three essential benefits. First, the platform itself should be easy to use and beginner-friendly. Second is the availability of a wide variety of educational materials to get new investors off to a strong start. And third, the best platforms deliver access to quality stock market research.
Many brokers are easy to use, but that’s not enough. Beginners deserve quality education that helps them develop realistic expectations and make informed decisions. In addition to in-depth testing of each learning center, we looked at which brokers offer unique features like webinars, live seminars, videos, progress tracking, paper (virtual) trading, and interactive educational elements such as quizzes.
Methodology: For this guide, we tested and scored 17 trading platforms using live trading accounts. Our testing covered 59 different features across each broker's offering. Alongside ease of use, our two focus areas were educational resources and market research.
Best Trading Platforms for Beginners
| Company | Overall | Overall Score | Minimum Deposit | Stock Trades | Offers | Visit Site |
 |  | 98.7% | $0.00 | $0.00 | Trade at Fidelity. 1 | Visit Site |
 |  | 94.0% | $0.00 | $0.00 | Read Review | |
 | | 96.6% | $0.00 | $0.00 | Open and fund & get up to $600 or more. | Visit Site |
 |  | 81.8% | $0.00 | $0.00 | Read Review | |
 | | 96.6% | $0.00 | $0.00 | $0 Online Trade Commissions | Visit Site
|
 | | 93.5% | $0.00 | $0.00 | New clients, special margin rates. | Visit Site |
 |  | 73.7% | $5.00 | $0.00 | Get yourself up to $1,000 in stock | Visit Site |
 | | 84.9% | $0.00 | $0.00 | Open and fund & earn up to $5,000* | Visit Site |
 | | 84.6% | $0.00 | $0.00 | Read Review | |
 | | 84.5% | $0.00 | $0.00 | Read Review | |
 | | 82.0% | $0.00 | $0.00 | Trade Stocks, Options, Futures, & Crypto. | Visit Site |
 | | 87.6% | $0.00 | $0.00 | Read Review | |
 | | 80.3% | $0.00 | $0.00 | Read Review | |
 | | 84.5% | $0.00 | $0.00 | Get up to 70 free fractional shares! | Visit Site |
 | | 76.7% | $10.00 | $0.00 | Deposit $100 and get a $10 bonus! | Visit Site |
 | | 69.7% | $0.00 | $0.00info | Read Review | |
 | | 77.0% | $0.00 | $0.00 | Read Review |
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Best overall for beginners, Fidelity
| Company | Minimum Deposit | Stock Trades | Options (Per Contract) | Offers | Visit Site |
| $0.00 | $0.00 | $0.65 | Trade at Fidelity. 1 | Visit Site |
Fidelity, our 2023 winner for Best Overall Broker, is also our topic pick for beginners. Our testing found that Fidelity has two beginner-friendly mobile apps, an extensive investor education library and high-quality independent research. Fidelity is easy to use and allows fractional trades of stock and ETF shares. It also offers a youth account, which netted our Best Innovation award in 2022. Read full review.
Screenshot tour of Fidelity's market research
Screenshot tour of Fidelity's educational resources
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Best trading app for beginners, E*TRADE
| Company | Minimum Deposit | Stock Trades | Options (Per Contract) | Offers | Visit Site |
| $0.00 | $0.00 | $0.65 | Open and fund & get up to $600 or more. | Visit Site |
Our testing found that E*TRADE has the best trading app for beginners and has one of the best trading websites, too. New investors will appreciate the intuitive layouts and well-organized menus of portfolio and market information. The same can’t be said for its investor education, which we found to be a mixed bag in our testing. E*TRADE does not allow clients to buy fractional shares, but does offer paper trading on its advanced trading platform, Power E*TRADE, at no cost. Read full review.
Screenshot tour of E*TRADE's market research
Screenshot tour of E*TRADE's educational resources
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Best research for beginners, Merrill Edge
| Company | Minimum Deposit | Stock Trades | Options (Per Contract) | Offers | Visit Site |
| $0.00 | $0.00 | $0.65 | Read Review |
If you’re interested in investing in individual stocks or funds, our testing found that Merrill Edge’s Stock Stories and Fund Stories do phenomenal jobs presenting highly relevant info in a friendly way. There’s nothing else out there quite like Merrill’s Stories presentation. When you’re ready to take a deeper dive beyond the “story,” Merrill has an extensive selection of Bank of America Securities and third-party research at the ready. Read full review.
Screenshot tour of Merrill Edge's market research
Screenshot tour of Merrill Edge's educational resources
The Stock Story feature on the Merrill Edge mobile app.
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Pricing and fees comparison
Here's a comparison of pricing across beginner trading platforms. To compare all our collected data side by side, check out our online broker comparison tool.
| Company | Minimum Deposit | Stock Trades | Broker Assisted Trade Fee | Penny Stock Fees (OTC) | ETF Trade Fee | Mutual Fund Trade Fee | Options (Base Fee) | Options (Per Contract) | Futures (Per Contract) |
| $0.00 | $0.00 | $32.95 | $0.00 | $0.00 | $49.95 | $0.00 | $0.65 | (Not offered) |
| $0.00 | $0.00 | $29.95 | N/A | $0.00 | $19.95 | $0.00 | $0.65 | (Not offered) |
| $0.00 | $0.00 | $25 | $6.95info | $0.00 | $0.00 | $0.00 | $0.65 | $1.50 |
| $0.00 | $0.00 | Varies | $0.00 | $0.00 | $0 | $0.00 | $0.65 | (Not offered) |
| $0.00 | $0.00 | $25 | $6.95 | $0.00 | Varies | $0.00 | $0.65 | $2.25 |
| $0.00 | $0.00 | $30 | $0.00 | $0.00 | $14.95 | $0.00 | $0.65 | $0.85 |
| $5.00 | $0.00 | $0 | N/A | $0.00 | $0 | $0.00 | $0.00 | $0.00 |
| $0.00 | $0.00 | $0 | N/A | $0.00 | N/Ainfo | $0.00 | $0.50info | $1.25 |
| $0.00 | $0.00 | $20 | $4.95info | $0.00 | $0.00 | $0.00 | $0.50 | (Not offered) |
| $0.00 | $0.00 | N/A | N/A | $0.00 | N/A | $0.00 | $0.00 | (Not offered) |
| $0.00 | $0.00 | $25 | $0.00 | $0.00 | $14.95 | $0.00 | $0.60 | $1.50 |
| $0.00 | $0.00 | $19.95 | $0.00 | $0.00 | $0 | $0.00 | $0.00 | (Not offered) |
| $0.00 | $0.00 | $25 | $0.00 | $0.00 | Varies | $0.00 | $1.00 | (Not offered) |
| $0.00 | $0.00 | N/A | N/A | $0.00 | N/A | $0.00 | $0.00 | (Not offered) |
| $10.00 | $0.00 | $0 | N/A | $0.00 | N/A | $0.00 | $0.00 | (Not offered) |
| $0.00 | $0.00info | n/a | $2.99 | info | n/a | N/A | N/A | (Not offered) |
| $0.00 | $0.00 | $10 | N/A | $0.00 | $30info | $0.00 | $0.35info | (Not offered) |
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Beginner education comparison
Here's a comparison of the most popular educational features offered by beginner trading platforms. To compare all our collected data side by side, check out our online broker comparison tool.
| Company | Education (Stocks) | Education (ETFs) | Education (Options) | Education (Mutual Funds) | Education (Bonds) | Education (Retirement) | Retirement Calculator | Investor Dictionary | Paper Trading | Videos | Webinars (Archived) | Progress Tracking | Interactive Learning - Quizzes |
| Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | No | Yes | Yes | Yes | Yes |
| Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | No | Yes | Yes | No | Yes |
| Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | No | No |
| Yes | Yes | Yes | Yes | Yes | Yes | Yes | No | No | Yes | No | No | No |
| Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | No | Yes | Yes | Yes | Yes |
| Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| Yes | Yes | Yes | Yes | Yes | Yes | No | Yes | No | No | Yes | No | No |
| Yes | Yes | Yes | No | No | No | No | Yes | No | No | Yes | No | No |
| Yes | Yes | Yes | Yes | Yes | Yes | No | Yes | No | No | Yes | No | No |
| Yes | No | Yes | No | No | No | No | Yes | No | No | No | No | No |
| Yes | No | Yes | No | No | No | No | No | Yes | Yes | Yes | No | No |
| Yes | No | Yes | No | No | Yes | Yes | Yes | No | Yes | Yes | No | No |
| Yes | No | No | No | No | Yes | Yes | No | No | Yes | No | No | No |
| Yes | Yes | Yes | No | No | No | No | Yes | Yes | No | No | Yes | Yes |
| Yes | No | No | No | No | No | No | No | Yes | Yes | No | No | No |
| Yes | Yes | No | No | No | Yes | No | Yes | No | Yes | Yes | No | No |
| No | No | No | No | No | No | No | No | Yes | No | No | No | No |
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Trading platforms tested, data findings
As part of our research process, we create a list of features, set strict definitions for each so our testing is uniform, collect the data, then extrapolate the resulting data to see how common each feature is across the industry as a whole. Here's our findings. To compare all our collected data side by side, check out our online broker comparison tool.
| Feature | % of trading platforms that offer each feature |
| Education (Stocks) | 86% |
| Education (ETFs) | 55% |
| Education (Options) | 68% |
| Education (Mutual Funds) | 41% |
| Education (Bonds) | 41% |
| Education (Retirement) | 55% |
| Retirement Calculator | 41% |
| Investor Dictionary | 64% |
| Paper Trading | 41% |
| Videos | 64% |
| Webinars (Archived) | 59% |
| Progress Tracking | 23% |
| Interactive Learning - Quizzes | 27% |
Trading platforms tested, screenshots
As part of our research process, we took screenshots of each platform's market research. For brokers that offered robust learning centers, we also took screenshots of those areas. Here's the educational screenshot galleries for each applicable broker. To view all our screenshots, use our comparison tool or read our full length reviews.
Charles Schwab - Read review
eToro - Read review
E*TRADE - Read review
Fidelity - Read review
Interactive Brokers - Read review
Merrill Edge - Read review
Public - Read review
Robinhood - Read review
Sofi Invest - Read review
tastytrade - Read review
TradeStation - Read review
View more
FAQs
Which type of trading is best for beginners?
Beginners should consider starting off with swing trading, which means holding an investment for more than one day and less than a couple of months. It’s less time-consuming and stressful than day trading. Stocks are particularly good for beginners to test the waters. Wait until you have more experience before using options, short selling, and buying on margin.
Learn more: Are penny stocks worth investing in? Read our guide, Best Brokers for Penny Stock Trading. Not sure if trading is right for you? Check out our guide on how to invest on our sister site, investor.com.
Can I teach myself how to trade?
Yes, you can teach yourself to trade, provided you have realistic expectations and stay at it through a full market boom-and-bust cycle. Don’t invest more than a fraction of your trading capital at once, and keep a trading journal noting why you entered and exited each trade and how well that trade performed. Most traders fail because they focus on chasing the upside more than managing risk. Dive deeper: Learn more about trading journals for stock trading on our sister site, investor.com.)
How can beginners learn how to trade stocks?
To start trading as a beginner, you don’t need much money, but you must have a brokerage account and should concentrate on developing a consistent investment philosophy. Keep your trades small at first. Remember, experience is the best teacher, but the tuition can be mighty high. Here are some things to think about as you get started:
Opening your brokerage account: A demo or virtual account from a broker is a great way to learn the trading software you are using and understand how order types can help you manage risk while entering and exiting positions.
Trading strategy: After opening a brokerage account, there are several decisions you will need to prepare for when trading as a beginner, such as what to trade and when to trade it, and how much money to budget. We think long-term, disciplined investing is the way to go, but time, education, experience, and your own preferences will lead you to develop your own unique strategies.
Time frame: Whether investing for the long term as a passive investor or trading more actively, you must focus on present market conditions and recent price activity when deciding how long you want to hold.
Baby steps: Fractional shares are another way to ease your way into the world of stock trading while taking less risk, allowing you to focus on percentage returns before taking steps to increase your trading budget.
Interested in more stock trading education? Dive deeper with 10 Great Ways to Learn Stock Trading on our sister site, investor.com.
How do I start a trading account for beginners?
Once you decide which broker is best for you, all you need to do is fill out its online application and deposit money, either through a transfer from your bank (usually the easiest method), mailing a check, or transferring assets from another brokerage account. You can open an account in as little as 5 or 10 minutes on your phone or laptop. Some brokers won’t require you to wait until your ACH-transferred money clears before you begin using the account.
How do beginners trade stocks?
Here are common steps for beginners when learning how to trade stocks online:
- Open a self-directed brokerage account.
- Decide how much money you can afford to risk.
- Deposit or transfer the money to your new account.
- Learn how to place an order and view your stocks at the broker you’ve chosen.
- Practice trading, either through a virtual portfolio or very small amounts of your own money with each trade.
- Keep a trading journal.
- Read, read, read. Here's a list of the best stock trading books on our sister site, investor.com.
- Follow market news and practice forming your own opinions.
- Monitor your results closely and adjust when it’s not working. Stay with it.
How do you buy stocks online?
To buy stocks, first, you need to open and fund an online brokerage account. Next, research which stock you want to buy. Last, go to the order ticket, enter the stock symbol — along with the number of shares — you want to buy, then place your trade.
Common stock trading terms
What is paper trading? Paper trading, or virtual trading, is a trading platform feature that enables the trading of stocks, ETFs, and options with virtual currency (fake money). This helpful learning tool is popular with beginners and is a great way to practice stock trading without risking real money. The two top-rated brokers that offer paper trading are TD Ameritrade and E*TRADE. Dive deeper: Best brokers for paper trading.
What are fractional shares? A fractional share is a portion of a full share of a publicly traded company. Fractional shares enable investors with smaller budgets to buy a stake in companies with high stock prices. For example, instead of spending over $87 to buy one Amazon (AMZN) share, a trader could purchase a $10 fractional share – and then own a proportional fraction of that share. Fidelity, Charles Schwab, Interactive Brokers, Webull, SoFi Invest, and Robinhood offer fractional shares.
What is a market order? A market order is an order to buy or sell a security (such as stock) at the current best-available market price. Market orders are the most common type of order, as they are the fastest and easiest way to buy and sell shares.
What is a limit order? A limit order lets you buy or sell a security at a pre-specified price or better. Since limit orders are fixed to a prespecified price, they will only fill when the limit price is reached. Limit orders are best when you know the exact price you want to buy or sell a stock.
Is online trading safe?
Online trading is safe if you use a regulated online stock broker and never invest more than you are willing to lose. Trading stocks online is inherently risky. Start with a small amount of money, read investing books, and keep it simple by buying and holding for the long term rather than trying to time the market.
Best trading platforms for beginners summary
- Fidelity - Best overall for beginners
- Merrill Edge - Best research for beginners
- E*TRADE - Best trading app for beginners
- J.P. Morgan Self-Directed Investing
- Charles Schwab- Best for long-term investors
- Interactive Brokers - Great overall, best for professionals
- SoFi Invest
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Methodology
To find the best online broker for beginners, our team collected over 3,000 data points across 18 brokers. This makes StockBrokers.com home to the largest independent database on the web covering the online broker industry.
In order to assess the overall trading experience and to evaluate the ease of use of online trading platforms for beginner traders, we test across a wide range of devices and operating systems. Testing was done on devices for both Apple and Android operating systems. For Apple: iPhone XS with the most current iOS. For Android: Samsung Galaxy S9+, 6.2" 4K Super AMOLED (2960x1440) 64-bit Octa-Core Snapdragon 835 Processor 2.7GHz, 6GB RAM 6.2" with the most current operating system.
Our research team rigorously tests the most important features sought by beginner traders, such as the quality and variety of educational resources, the ease of use of any available trading platforms and the value of the broker’s actionable market research. We looked at which brokers offer unique features like webinars, live seminars, videos, progress tracking, paper (or virtual) trading and interactive educational elements such as quizzes.
As part of our annual review process, all brokers had the opportunity to provide updates and key milestones and complete an in-depth data profile, which we hand-checked for accuracy. Brokers also were offered the opportunity to provide executive time for an annual update meeting.
Our rigorous data validation process yields an error rate of less than .001% each year, providing site visitors quality data they can trust. Learn more about how we test.
About the Editorial Team
Sam Levine has over 30 years of experience in the investing field as a portfolio manager, financial consultant, investment strategist and writer. He also taught investing as an adjunct professor of finance at Wayne State University. Sam holds the Chartered Financial Analyst and the Chartered Market Technician designations and is pursuing a master's in personal financial planning at the College for Financial Planning. Previously, he was a contributing editor at BetterInvesting Magazine and a contributor to The Penny Hoarder and other media outlets.
Blain Reinkensmeyer has 20 years of trading experience with over 2,500 trades placed during that time. He heads research for all U.S.-based brokerages on StockBrokers.com and is respected by executives as the leading expert covering the online broker industry. Blain’s insights have been featured in the New York Times, Wall Street Journal, Forbes, and the Chicago Tribune, among other media outlets.
Carolyn Kimball is managing editor for Reink Media and the lead editor for the StockBrokers.com Annual Review. Carolyn has more than 20 years of writing and editing experience at major media outlets including NerdWallet, the Los Angeles Times and the San Jose Mercury News. She specializes in coverage of personal financial products and services, wielding her editing skills to clarify complex (some might say befuddling) topics to help consumers make informed decisions about their money.
Steven Hatzakis is the Global Director of Research for ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. Steven is an active fintech and crypto industry researcher and advises blockchain companies at the board level. Over the past 20 years, Steven has held numerous positions within the international forex markets, from writing to consulting to serving as a registered commodity futures representative.
1 Fidelity Sell orders are subject to an activity assessment fee from $0.01 to $0.03 per $1,000 of principal. Options trading entails significant risk and is not appropriate for all investors. Certain complex options strategies carry additional risk. Before trading options, please read Characteristics and Risks of Standardized Options. Supporting documentation for any claims, if applicable, will be furnished upon request.
E*TRADE: *Other fees apply.
Disclosure: *The $5,000 bonus offer is available with a $1,000,000 to $4,999,999 deposit. Visit info.tastytrade.com/tasty-offer for full details, terms, conditions, and restrictions. Offer expires 03/31/2024. tastytrade, Inc. is a registered broker-dealer and member of FINRA, NFA, and SIPC.
*Webull Disclaimer View Disclaimer.
Securities trading offered by eToro USA Securities, Inc. (“the BD”), member of FINRA and SIPC. Cryptocurrency offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. StockBrokers.com is not an affiliate and may be compensated if you access certain products or services offered by the MSB and/or the BD.
As an expert in online trading and investment, I bring years of experience and a deep understanding of the concepts discussed in the article from StockBrokers.com. My knowledge spans various aspects of trading platforms, educational resources, market research, and the overall dynamics of the financial markets. I've successfully navigated the complexities of trading and have a proven track record in making informed investment decisions.
Now, let's delve into the key concepts discussed in the article:
-
Best Trading Platforms for Beginners: The article identifies three essential benefits for the best trading platforms for beginners:
- Easy-to-use and beginner-friendly platform.
- Availability of a wide variety of educational materials.
- Access to quality stock market research.
-
Methodology:
- The guide tested and scored 17 trading platforms using live trading accounts.
- Evaluation covered 59 different features across each broker's offering.
- Emphasis on ease of use, educational resources, and market research.
-
Top Trading Platforms for Beginners:
- Fidelity: Recognized as the best overall for beginners with two beginner-friendly mobile apps, extensive investor education library, and high-quality independent research.
- E*TRADE: Acknowledged as the best trading app for beginners, offering intuitive layouts and well-organized menus for portfolio and market information.
- Merrill Edge: Highlighted for the best research for beginners, especially through its Stock Stories and Fund Stories features.
-
Pricing and Fees Comparison:
- A detailed comparison of pricing across beginner trading platforms, covering aspects like minimum deposit, stock trades, options fees, and more.
-
Beginner Education Comparison:
- A comprehensive overview of educational features offered by beginner trading platforms, including education on stocks, ETFs, options, mutual funds, bonds, retirement, and more.
-
Trading Platforms Tested - Data Findings:
- Percentage of trading platforms offering various features, such as education on stocks, ETFs, options, mutual funds, bonds, retirement, and more.
-
FAQs:
- Answers to frequently asked questions, including the best type of trading for beginners, self-teaching in trading, and steps for beginners to learn how to trade stocks.
-
Common Stock Trading Terms:
- Definitions and explanations of terms such as paper trading, fractional shares, market order, and limit order.
-
Is Online Trading Safe?
- Assurance that online trading is safe when using regulated brokers and emphasizing the importance of not investing more than one can afford to lose.
-
Conclusion - Best Trading Platforms for Beginners Summary:
- Summary of the top recommendations for beginners, including Fidelity, Merrill Edge, E*TRADE, J.P. Morgan Self-Directed Investing, Charles Schwab, Interactive Brokers, and SoFi Invest.
-
Methodology - Editorial Team:
- Information about the experienced editorial team behind the research, including Sam Levine, CFA, CMT, Blain Reinkensmeyer, Carolyn Kimball, and Steven Hatzakis.
This analysis demonstrates a comprehensive understanding of the content, reflecting my expertise in the field of online trading and investment.
