Among the most important factors to consider when choosing the best brokers for beginners there are brokerage trading platforms, trading fees, financing options, account types, educational materials, trading tools, asset classes, customer service and much more.
We test and review several online brokers and, based on our analysis, rank them as the best newbie brokers. This is for many reasons, but mainly because they are considered well established in the online brokerage industry and have a range of investment products and services that cater especially to novice traders.
This includes an abundance of educational resources to help customers along their business journey. In addition, they all provide some of the best trading platforms for beginners to help make online trading as easy as possible.
When you are trading online you are buying and selling instruments from various asset classes such as forex, stocks, indices, commodities, criptomoedas, precious metals and energies.
If you act in your favor, you can profit, while if you move against you, you will lose.
When you trade online, you need an online broker who will process your buy and sell positions in the markets. These brokers they offer easy-to-use trading platforms and charge a small fee for using their brokerage services.
In addition to market access, they may also offer other services such as market analysis, social trading platforms, educational resources and managed accounts.
Online brokers have made trading on the markets easily accessible to anyone with an Internet connection. Traders from all over the world can sign up with a broker, download a trading platform and trade online in minutes. You can see a list of our best online brokers.
A trading platform is used to analyze charts of various trading instruments and to place/manage trading positions.
They will include a wide range of trading tools to conduct in-depth chart analysis over various time periods and on different chart types.
These tools include technical indicators, drawing objects and economic calendars. Trading platforms are available for desktop, web and mobile devices.
It is important that a novice trader has a trading platform that they feel comfortable using, preferably one that has a fast learning curve and a variety of tutorials to help new users become familiar with it.
One of the most popular and best trading platforms for beginners is MetaTrader. the platform MetaTrader is used by millions of traders of all experience levels around the world.
It is well known for being user friendly and including a wide selection of trading tools to assist traders in all different trading strategies.
It has a fully customizable intuitive interface and is simple enough for beginners, yet has enough advanced functionality to satisfy the most seasoned investor.
MetaTrader is available as a desktop platform and mobile trading app for iOS and Android devices. It can also run directly in web browsers without the need to download or install any additional software. For more information, see our best MetaTrader brokers.
There are several factors to consider when looking for an online broker if you are new to online trading. Some of the most important things will be that they keep things simple and offer guidance as you begin your trading journey.
They should be available to provide excellent support 24 hours a day, but also know when to step back if you're happy to get stuck and learn to trade yourself.
Ideally they will provide one of the best trading platforms for beginners, MetaTrader. The broker must be regulated by a prime regulator, have low fee brokerage and offer a variety of asset classes.
Educational materials such as trading guides, tutorial videos and webinars can be helpful in helping novice traders increase their trading skills and knowledge.
There should be trading accounts for beginners that allow them to start trading online with an appropriately sized investment and good trading conditions.
Most online brokers require a minimum deposit to open a trading account with them and start trading online.
This can vary from broker to broker, but we believe the best beginner brokers will have an adequate minimum deposit, which is usually between $1 — $500. Of course, you should only trade with what you are comfortable with and never risk more than you can lose.
Almost all brokers offer demo accounts that allow you to practice online trading with virtual funds. This can be a good way for beginning traders to try out different trading platforms and test different trading strategies.
If you would like to start trading online, you will first need to choose a trading broker that suits your needs and open a real or demo trading account.
If you are new to online trading, you may want to consider one of our best beginners brokers listed on this page. After opening a trading account with the broker of your choice, you can download their trading platforms and start trading online when you feel ready to do so.