With a plethora of options in online trading, selecting the right platform can be daunting. In this blog post, we'll dissect some of the leading online trading platforms and highlight their distinctive features. Whether you're a novice or an experienced trader, we have you covered.
The Best Online Trading Platforms for Beginners
1. E*TRADE – Best Overall
E*TRADE is our pick for the best overall online trading platform for beginners. It’s easy to use, offers a wide range of investment options, and has low fees and commissions. You can open an account with no minimum deposit and get started trading immediately. Plus, there are plenty of resources available to help you learn the ropes.
2. Charles Schwab – Best for Customer Service
If you’re looking for outstanding customer service, Charles Schwab is the way to go. They offer 24/7 customer support and have a team of Registered Investment Advisors standing by to help you make the best decisions for your money. They also have a wide range of investment options and low fees, making them a great choice for beginner investors.
3. Fidelity Investments – Best for Research Tools
Fidelity Investments is our pick for the best online trading platform for research tools. They offer in-depth analysis and research on a wide range of investment options. Plus, they have an excellent mobile app that makes it easy to stay on top of your investments while you’re on the go. While they don’t offer 24/7 customer support, they do have extended hours during the week so you can get the help you need when you need it.
4. TD Ameritrade – Best for Beginner-Friendly Tools
TD Ameritrade is our pick for the best online trading platform for beginner-friendly tools. They offer an extensive education center that has everything from articles and videos to webinars and one-on-one coaching sessions. Plus, their mobile app is loaded with features that make it easy to trade wherever you are. And if you ever need help, their customer service team is standing by 24/7 to assist you.
What is eToro?
eToro is an online broker that allows you to buy and sell a variety of assets, including stocks, commodities, currency pairs, and cryptocurrencies. One of the reasons why eToro is such a popular choice for beginners is that it has a very user-friendly interface. Another reason is that eToro offers something called “social trading.” This means that you can see what other users are doing and copy their trades if you want to. This is a great way to learn about trading without taking on too much risk.
How to Get Started With eToro
Getting started with eToro couldn't be easier. First, create an account by clicking here. Once that's done, deposit some money into your account. While the minimum deposit is $200, we suggest depositing more to allow for experimentation with various trades. Once you've funded your account, you're ready to start trading! Click on the "Trade Markets" button at the top of the page. From there, select the asset you wish to trade. For instance, suppose you want to purchase Apple stock. Simply enter "Apple" into the search bar and click on the "Buy" button beside the stock price. It's that simple!
Why We Recommend eToro For Beginners
We recommend eToro as the ideal platform for beginners for several reasons. Firstly, as previously mentioned, it boasts a highly user-friendly interface. Secondly, it provides social trading, offering a low-risk opportunity to gain trading insights. Lastly, being a regulated broker ensures the safety and security of your funds.
Conclusion:
Overall, numerous excellent online trading platforms are available for selection. Regardless of your specific needs, there is undoubtedly a platform suitable for you. Therefore, take your time, conduct thorough research, and enjoy investing!
