Brokerage services offered through Robinhood Financial LLC (member SIPC), a registered broker dealer. This pricing aligns with Vanguard’s mission to keep costs low and maximize returns. There are no additional transaction fees for trades, and the minimum account requirement is just $100, making it accessible for most investors. The Vanguard Digital Advisor® platform is designed to simplify goal-based investing with an intuitive interface.

E*TRADE from Morgan Stanley

For example, you can use Fidelity’s cost of leaving the workforce calculator to see how your financial situation would change if you stopped working to care for a loved one. Before saving with a taxable account, consider the order of where you should save first to accomplish your financial goals best. Are you comfortable taking responsibility in making investment decisions? Taxable accounts can be a good vehicle if you can check all the boxes. The broker has long focused on catering to diligent investors keen on studying the markets, which is why Merrill Edge is our choice for the best broker for research.

Perfect your strategy with trade analytics

Arielle O’Shea leads the investing and taxes team at NerdWallet. She has covered personal finance and investing for nearly 20 years, and was a senior writer and spokesperson at NerdWallet before becoming an assigning editor. Arielle has appeared on the “Today” show, NBC News and ABC’s “World News Tonight,” and has been quoted in national publications including The New York Times, MarketWatch and Bloomberg News. Additionally, J.P. Morgan provides a library of educational resources designed to help clients build their investing knowledge. While not as beginner-focused as some others on this list, these materials are a strong asset for those looking to grow their financial expertise.

How To Pick the Right Brokerage for You

You should also choose a platform that makes investing easy, whether you’re at home on a desktop or on the go trading from your phone. Open the broker’s website, read customer reviews and see how high its app is rated in the Google Play and Apple App stores. Of all the best brokers for beginners I’ve covered here, Acorns is the most hands-off. It’s a robo-advisor that takes your spare change and invests it for you automatically. The app is sleek and user-friendly and serves as a welcoming entry point to the world of investing with expert analysis and educational resources at the ready.

The user interface and streamlined design support a smooth trading process. IC Markets is an excellent choice for beginner traders due to its user-friendly platforms and educational resources. With advanced trading platforms like MT4, MT5, and cTrader, new traders can access a variety of tools to enhance their trading skills.

The Account Setup Process

• If you’re starting with a smaller portfolio, you won’t earn as much in their sweep account compared to other brokers on this list.
• But you also have the flexibility to make online trades in seconds through digital firms, apps, and even fully automated platforms.
• Merrill Edge provides an accessible platform with integrated banking support.
• An index’s components will always have something in common which groups them together, eg the 500 biggest US-listed companies by market cap are grouped into the S&P 500 index.
• Fidelity’s platform is straightforward, offering just enough information to make informed decisions without being overwhelming.

IBKR has the most expansive selection of investment offerings on our list, letting you trade stocks, ETFs, mutual funds, bonds, options, futures, cryptocurrency and more. Charles Schwab is a great choice for both new and seasoned investors. Its user-friendly platform allows you to navigate seamlessly from your portfolio to relevant tax forms. New investors will also appreciate the expansive library of educational content. Robinhood Gold is an account offering premium services available for a $5 monthly fee. Margin investing involves the risk of greater investment losses.

A long‑time leader in investor satisfaction, Fidelity provides an award‑winning combination of low fees, a powerful platform, and in‑depth learning resources. Its “Active Trader Pro” application offers a polished experience, yet the basic web and mobile tools are exceptionally accessible. Fidelity also provides helpful tools for cash management, making it a top overall choice for new investors. Ally Invest offers a simple yet effective approach for beginners.

While some brokers offer more diverse or specialized investment opportunities, the inclusion of mutual funds without commissions is a notable advantage for best online brokers for beginners those seeking low-cost diversification. Robinhood is renowned for its simple, beginner-friendly app, which makes navigating and managing investments easy. In October 2024, the company introduced Robinhood Legend, a desktop platform designed for advanced traders.

J.P. Morgan Self-Directed Investing: Best for In-Person Customer Support

A taxable brokerage account offers the flexibility to have funds available when needed and without a tax penalty. They offer transparency and freedom when considering costs and investment options. Merrill Edge, a subsidiary of Bank of America (BofA), is our choice as the best broker for research. Merrill Edge also provides access to Idea Builder, an advanced interface that takes data from the Global Research platform and transforms it into easy-to-digest investing and trading ideas. Keep in mind that money you need soon — within the next one to three years, for example — shouldn’t be invested in volatile assets such as stocks in the first place. First, you’ll need to sell any investments in order to have cash in your account if you didn’t have uninvested cash already.

Get expert insights, automate your investing, and potentially earn more on uninvested cash. Most of the bigger firms allow for international trading (with added fees). But online brokers like InteractiveBrokers have geared their entire platform toward a global trading experience.

• With a vast network of in-person branches and decades of expertise in financial markets, J.P.
• The account details include a broad selection of research tools and reliable help via phone and chat.
• The broker provides excellent proprietary research and a wide range of sophisticated independent research at no extra cost.
• Of course, email is an option, but it’s likely to take some time.

Its robust screeners for stocks, funds, and ETFs make it easy for investors to find opportunities tailored to their goals. These features are invaluable for beginners and seasoned investors alike. It offers $0 commission trades for stocks and ETFs, and its no-transaction-fee mutual funds set it apart from many other brokerages. Plus, Fidelity is as cheap as it gets when it comes to miscellaneous expenses like closing IRA account fees and account transfer fees (both $0). When you’re just starting out with investing, the stock market can seem like an intimidating place.

Credit Scores Apps

Brokerage accounts also typically come with a number of additional features, such as access to research reports and other tools. The investing information provided on this page is for educational purposes only. NerdWallet, Inc. does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments. J.P. Morgan provides a solid array of standard investment options, including stocks, ETFs, and mutual funds.