Investing is one of the most powerful ways to build wealth, and choosing the right broker is the first step for any beginner. With so many brokerage platforms available, it can be overwhelming to decide which one is best for you.
A good broker for beginners should offer low fees, an easy-to-use interface, educational resources, and excellent customer support. Whether you’re looking to invest in stocks, ETFs, cryptocurrencies, or mutual funds, this guide will help you choose the best broker based on your needs.
1. What to Look for in a Beginner-Friendly Broker
Before choosing a broker, consider the following factors:
Ease of Use
Beginners need a platform that’s easy to navigate, with a clean interface and simple trade execution. Look for:
✅ User-friendly mobile and desktop apps
✅ Easy-to-understand investment options
✅ Quick deposit and withdrawal processes
Low or No Fees
Fees can eat into your profits, so it’s important to choose a broker with low costs. Look for:
✅ Zero-commission trades on stocks and ETFs
✅ Low or no account maintenance fees
✅ Affordable options for fractional shares
Educational Resources
A good broker should help beginners learn about investing. Look for:
✅ Free webinars, courses, and tutorials
✅ Market research tools and investment news
✅ Paper trading (simulated trading accounts) to practice investing
Investment Options
Make sure the broker offers the assets you want to invest in. Look for:
✅ Stocks & ETFs – Ideal for long-term investing
✅ Mutual Funds & Bonds – For diversification and stability
✅ Options & Cryptocurrencies – If you want more advanced trading options
Customer Support
Beginners may need help with account setup, trading, or withdrawals. Look for:
✅ 24/7 customer support via phone, chat, or email
✅ Help center with FAQs and tutorials
2. Best Brokers for Beginners in 2024
After reviewing dozens of brokers, here are the best platforms for beginners based on ease of use, low fees, and educational resources.
1️⃣ Fidelity – Best Overall for Beginners
Why It’s Great: Fidelity offers an easy-to-use platform, zero commission trades, and excellent customer support. It also has a great reputation for long-term investing.
✅ Zero-commission trades on stocks and ETFs
✅ $0 account minimum to start investing
✅ Fractional shares available (called “Stocks by the Slice”)
✅ No hidden fees or inactivity fees
✅ Best-in-class educational resources
Best For: Beginners who want a reliable and trustworthy brokerage for long-term investing.
2️⃣ Charles Schwab – Best for Research & Customer Support
Why It’s Great: Charles Schwab offers excellent market research tools, educational resources, and top-tier customer support.
✅ $0 commission on stocks, ETFs, and options
✅ Great research tools for learning about investments
✅ 24/7 customer support via phone and chat
✅ No account minimums
✅ Offers Robo-Advisor (Schwab Intelligent Portfolios) for hands-free investing
Best For: Beginners who want great customer service and investment research tools.
3️⃣ Robinhood – Best for Mobile Investing & Fractional Shares
Why It’s Great: Robinhood is one of the easiest apps for beginners, with commission-free trading and an intuitive mobile experience.
✅ No commissions on stocks, ETFs, and options
✅ Fractional shares available – Invest with as little as $1
✅ Very beginner-friendly app and interface
✅ No account minimum required
🚨 Downsides: Limited research tools, and customer service can be slow.
Best For: Beginners who want an easy-to-use app with fractional shares.
4️⃣ E*TRADE – Best for Beginners Who Want to Learn
Why It’s Great: E*TRADE offers a great mix of educational resources and strong trading tools, making it ideal for beginners who want to learn while investing.
✅ $0 commission on stocks and ETFs
✅ Fantastic library of educational resources
✅ Easy-to-use web and mobile platforms
✅ Great customer support
Best For: Beginners who want lots of learning materials to improve their investing knowledge.
5️⃣ TD Ameritrade – Best for Free Learning Resources
Why It’s Great: TD Ameritrade offers one of the best free educational platforms, along with a great mobile app and no commission fees.
✅ $0 commission on stocks and ETFs
✅ Top-rated investment education tools
✅ User-friendly web and mobile platforms
✅ No minimum deposit required
🚨 Downsides: TD Ameritrade is merging with Charles Schwab, so changes may come in 2024.
Best For: Beginners who want high-quality investment education and research tools.
6️⃣ M1 Finance – Best for Automated & Passive Investing
Why It’s Great: M1 Finance combines the benefits of a brokerage and robo-advisor, allowing beginners to invest in custom portfolios without trading manually.
✅ No trading fees on stocks & ETFs
✅ Fractional shares available
✅ Automated investing & portfolio rebalancing
✅ No account minimum
🚨 Downsides: No real-time trading and fewer research tools than other platforms.
Best For: Beginners who want a hands-off, automated investing experience.
7️⃣ Webull – Best for Beginners Interested in Trading
Why It’s Great: Webull offers commission-free trading and useful charting tools, making it a great option for beginners who want to learn active trading.
✅ $0 commission on stocks, ETFs, and options
✅ Paper trading available (practice account with fake money)
✅ More advanced research tools than Robinhood
✅ No account minimum
🚨 Downsides: Less beginner-friendly than Robinhood, and no mutual funds available.
Best For: Beginners who want to explore trading with more advanced tools.
3. Best Brokers for Different Types of Beginners
| Best For | Broker |
|---|---|
| Best Overall | Fidelity |
| Best Customer Support | Charles Schwab |
| Best Mobile App | Robinhood |
| Best for Learning | E*TRADE |
| Best Educational Tools | TD Ameritrade |
| Best for Automated Investing | M1 Finance |
| Best for Beginner Traders | Webull |
4. How to Choose the Right Broker for You
If you’re not sure which broker to pick, ask yourself these questions:
❓ Do I want an easy-to-use app? → Robinhood, M1 Finance
❓ Do I want research tools and learning resources? → E*TRADE, TD Ameritrade, Charles Schwab
❓ Do I want to trade actively? → Webull, TD Ameritrade
❓ Do I want to invest passively? → M1 Finance, Fidelity
❓ Do I need excellent customer support? → Charles Schwab, Fidelity
Final Step: Open Your Account & Start Investing
Once you’ve chosen a broker:
1️⃣ Sign up – Provide your name, SSN, and bank details.
2️⃣ Deposit funds – Start with as little as $1 in some platforms.
3️⃣ Choose investments – Start with index funds, ETFs, or fractional shares.
4️⃣ Stay consistent – Invest regularly, even in small amounts.
Final Thoughts: Pick the Best Broker & Start Investing Today
Choosing the right broker sets the foundation for your investing journey. The best broker for you depends on your goals, experience level, and preferences.
Your Action Plan:
✅ Pick a broker that fits your needs (easy-to-use, low fees, good resources).
✅ Open an account and deposit a small amount to start.
✅ Begin with low-risk investments like index funds or ETFs.
✅ Stay consistent—invest regularly to grow wealth over time.
The sooner you start investing, the more time your money has to grow! 🚀