Generally speaking, good brokerage accounts for beginners will provide some basic functions such as charting, order execution, and market data feeds. More advanced setups allow for loads of complicated stuff – APIs, feeds from third party data vendors, programming interfaces for automated strategies .
Our recommendations at the end of this article are designed to save you additional unnecessary expenses by identifying brokers who offer a reliable basic package, and will avoid you paying for loads of extras that you don’t really need as a beginner. If you want to participate in a wide range of different markets (which is the right choice for the vast majority beginners) then there are ways to do this from one single brokerage account. You can find brokers for different types of instruments listed in the menu bar at the top of this page – just click on the links to view comparison tables for each. Once you know what market or instrument you want to trade in, then this will instantly narrow down your choice of broker. As a beginner, you should invest just a small amount of risk capital in your new brokerage account, and use this to learn how to trade. Schwab are one of the largest brokers, but they’re also committed to maintaining a network of local offices throughout the US, so getting to speak to someone in person is fairly easy. Unlike most firms who charge a fixed fee per trade (which can be economical for large volume traders), Interactive Brokers also offer a per-share price plan.
Interactive amongst the largest and most well established brokerage firms and also service institutional clients.
AvaTrade was one of the first online brokers to offer CFD trading, giving ordinary individuals easy access to a wide variety of markets, including indices, stocks and commodities.
You’ll get the choice of access to a wide range of execution platforms with this broker, including the full featured MetaTrader4, a firm favorite with more experienced traders. The broker is registered in Dublin, Ireland, where it is overseen and regulated by the Central Bank of Ireland.
24Winner is a wholly owned subsidiary of Safecap Ltd, a much larger firm, and is subject to full CySEC regulation as a binary options broker. As a customer with 24winner you have the peace of mind of a fully EU licensed trading platform which provides complete security of funds and trade protection insurance of up to €20,000. Trading is via the industry leading KeyStone platform, a browser-based technology developed by the broker’s parent company Safecap. The vast majority of IG Index customers are professionals who are interested in the financial markets, so the broker’s customer service is geared towards providing support and advice to new traders, offering 24-hour telephone support (speak to real people), as well as a comprehensive range of education, training tools, trading tips and market commentaries online.
The UK-based London Stock Exchange broker is fully regulated by the FCA and holds individual client funds in segregated accounts. However, if the thought of an online brokerage account where you place all your own trades isn’t intimidating, then read on .
These will all be automatically connected when you log in, ready for you to begin trading, so you won’t need to install any software or get involved in any complicated process to get everything working. There are many different markets such as foreign exchange (forex), commodities such as gold and oil, stock indices, and interest rate products like treasury bonds.
At the bottom of the article you’ll find our suggestions for the best brokerage account for beginners for each market.
As a very general rule, the larger the firm the safer they are likely to be, but most brokers publish details of the regulatory agencies that they are registered with and overseen by.
If you have your own recommendations for brokerage accounts for beginners, then please feel free to share them using the comments box below! Although the charting may not be quite as good as that of TradeStation or NinjaTrader, it is way more than adequate for starting out. They’ve now racked up nearly a decade of brokerage experience and have a reputation for really solid customer service and support. Then you could go long an oil futures contract, buy an oil fund ETF, purchase a call option or a contract for difference (CFD), or you could make a spread bet or a binary bet on rising oil prices. That being said, with just a small account balance keeping your costs and brokerage fees to a minimum will be absolutely essential.
Whichever method you choose, you can quickly get quotes, make trades, review account balances, and much more.
So, if you’re starting trading with a small account and buying shares in blocks of 100 or less, then this broker is a great choice.
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