Best Online Trading Brokers for Beginners 2021

Are you thinking of investing your money in stocks or online trading? The most vital thing is to choose the right or the best online broker. Here we will discuss the things that you need to keep in mind while choosing a broker. We will also give you some suggestions.

Suggestions for Best Online Trading Brokers for Beginners

As promised earlier, here are some suggestions for online trading brokers for beginners.

1. Freetrade

It is considered the best broker in 2021 for beginners. It offers free stock along with ETF trading. Being a great mobile trading platform, it has a fast and easy account opening.

2. Revolut

Just like Freetrade, Revolut also offers free stock and fast account opening. It is also a great trading platform on mobile.

3. Robinhood

Robinhood has totally freed US trading with ETF trading. An excellent web and mobile trading podium. Here you can open an account really fast and the whole process is fully digitalized.

4. Merrill Edge

Now come to Merrill Edge, which has a seamless and easy account opening. It itself is a parent company. For all these benefits, Merrill Edge charges a fee.

5. DEGIRO

Multiple top-tier authorities regulate Degiro, which is one of the lowest chargeable brokers in the market. This web and mobile broker is too user-friendly.

Client Comparisons

Where Freetrade accepts clients only from the UK Revolut serves in a broad way and accepts clients from all over the US, Europe, Singapore, Canada, Australia, and Switzerland. Robinhood and Merrill Edge accept clients only from the entire US. Only Europeans can get access to Degiro.

Points To Consider For Online Trading Brokers for Beginners

There are some factors that make a broker more likable for beginners. They are the followings

  • Offers low brokerage fees and a great mobile trading platform.
  • Easy accessibility and a service that will cater to all your needs Courier Business
  • Contains some nice educational tools, such as a demo account and courses or webinars.
  • Easy process of opening an account and fund depositions.

How to select the Best Online Trading Brokers for Beginners?

We understand choosing the right broker is not at all easy as pointing out the factors. If you are unable to decide which broker is suitable for you, we are here to help you. You can find several tools that will help you to find the perfect match for you. You also can compare different brokers and their services by using comparison tools.

All you need to do is put the place where you are residing and a list of available brokers will be served. By comparing between them you can select the right one for you.

Best Online Trading Brokers for Beginners

Now we will give you a detailed idea about the online trading brokers that we have mentioned earlier.

1. Freetrade

In the year 2016, this company has come to the market as a commission-free stock trading company. Being a UK based fintech start-up and duly regulated by the FCA or United Kingdom’s Financial Conduct Authority. As it is regulated by the top-tier regulator or FCA, it is considered safer.

This mobile trading platform is well designed and user friendly with the proper search function. But you will only get two orders and won’t get any price alerts,

                         Benefits                      Lack of
Mobile Trading Platform

 

●       Two-step login

●       Safer login

●       Efficient search functions

●       User-friendly

 

Fees

 

●       Free stock and ETF trading

●       No account, withdrawal, or inactivity fees

●       Low trading fees

 

Education

 

●       Educational content

●       Invest HUB blog

 

Customer Service

 

●       Efficient live chat function on mobile app and websites

●       Relevant answers

●       Fast response time

 

Account Opening

 

●       Fully digital and fast account opening

●       No minimum deposit

 

Withdrawal & Deposition

 

●       User-friendly withdrawal and deposition

●       No deposition fee

●       Free withdrawal

 

 

●       No price alerts

●       Limited order types

 

 

 

 

 

●       None

 

 

 

 

 

 

●       No webinars

●       No educational videos

 

 

●       No 24/7 support

●       No call support

 

 

 

 

 

 

●        None

 

 

 

 

 

●       Debit cards only for deposits

●       One account base currency

 

 

 

 

 

2. Revolut

It has been known for its payment and banking services since 2015. In the year 2019, Revolut trading Limited has launched commission-free stock trading.

Some top-tier regulators like the US Security Exchange Commission or SEC, the Financial Industry Regulatory Authority, or FINRA regulate Revolut. Under the SIPC or Securities Investments Protection Corporation’s insurance, the client’s assets are protected unto $500,000 and $250,000 cash.

                         Benefits                      Lack of
Mobile Trading Platform

 

●       Touch or Face login

●       Efficient search functions

●       User-friendly

 

Fees

 

●       Free stock trading

●       No account, withdrawal, or inactivity fees

●       Low trading fees

 

Education

 

●       None

 

 

 

Customer Service

 

●       An efficient live chat function

●       Phone support

 

 

 

Account Opening

 

●       Fully digital and fast account opening

●       No minimum deposit

 

Withdrawal & Deposition

 

●       Debit/credit card available

●       User-friendly withdrawal and deposition

●       No deposition fee

●       Free withdrawal

 

 

●       No two-step login

●       Limited order types

 

 

 

 

 

●       None

 

 

 

 

 

●       No educational videos

●       No Demo Account

●       No trading platform tutorial videos

 

 

 

●       No 24/7 support

●       Irrelevant answers

●       Only prerecorded answers are available on the phone

 

 

 

●        None

 

 

 

 

 

 

●       One account base currency

 

 

 

3. Robinhood

Established in 2013, Robinhood is basically the USA based broker, which does not charge any broker fee. Some top-tier regulators like the US Security Exchange Commission or SEC, the Financial Industry Regulatory Authority, or FINRA regulate Revolut.

In order to help all its clients in earning interest on the invested funds, Robinhood has also introduced cash management besides brokerage service.

                         Benefits                      Lack of
Mobile Trading Platform

 

●       Two-step (safer) login

●       Efficient search functions

●       User-friendly

 

Fees

 

●       Transparent fee structure

●       No account, withdrawal, deposition or inactivity fees

●       No commission fee on US stock and ETF trading

 

Education

 

●       Quality educational texts

 

 

 

Customer Service

 

●       Relevant answers

●       Fast response time

 

 

 

Account Opening

 

●       Fully digital and fast account opening

●       No minimum deposit

 

Withdrawal & Deposition

 

●       Cash management service

●       No deposition fee

●       Free withdrawal

 

 

●       None

 

 

 

 

 

●       None

 

 

 

 

 

 

 

●       No educational videos

●       No Demo Account

●       No trading platform tutorial videos

 

 

 

●       No 24/7 support

●       No live chat

●       No phone support

 

 

 

●       Only for US clients

●       Does not offer any IRA accounts

 

 

 

 

 

●       No credit/debit cards

●       Pricey wire withdrawal

●       A larger amount of deposition takes longer

4. Merrill Edge

In the year 2010, the Bank of America or BofA founded Merrill Edge. It offers ETFs, US stocks, bonds, and options. FINRA or Financial Industry Regulatory Authority and SEC or Securities and Exchange Commission regulates Merrill Edge.

The parent company of Merrill Edge which is a reputed bank makes it safer for its users. Apart from being regulated by top-tier regulators, it also discloses its financials.

                         Benefits                      Lack of
Mobile Trading Platform

 

●       Touch or Face login

●       Two-step (safer)

●       User-friendly

 

Fees

 

●       Low stock and ETF fees

●       Low account, withdrawal, or inactivity fees

●       Low trading fees

 

Education

 

●       Educational videos

●       Trading platform tutorial

 

 

 

Customer Service

 

●       An efficient live chat function

●       Phone support

 

 

 

Account Opening

 

●       Fully digital and fast account opening

●       No minimum deposit

 

Withdrawal & Deposition

 

●       User-friendly withdrawal and deposition

●       No deposition fee

●       Free withdrawal

 

 

●       Poor search function

 

 

 

 

 

●       High financial rate

 

 

 

 

 

 

●       No Demo Account

 

 

 

 

 

 

●       No email support

 

 

 

 

 

 

●        Available for the only US clients

 

 

 

 

 

●       Debit/credit card not available

●       One account base currency

●       Slower withdrawal (Over 3 days)

 

 

 

5. Degiro

Degiro is an online broker in the Netherlands. Some former employees of another brokerage company established Degiro in 2008. Netherlands Authority of Financial Market or AFM and DNB or Dutch Central bank regulate Degiro. It is also registered with the Chamber of Commerce and Industry in Amsterdam.

                         Benefits                      Lack of
Mobile Trading Platform

 

●       Touch or Face login

●       Efficient search functions

●       User-friendly

 

Fees

 

●       Low ETF and trading fees

●       Low account, withdrawal, or inactivity fees

●       Low trading fees

 

Education

 

●       Educational videos

●       Trading platform tutorials

 

 

 

Customer Service

 

●       Relevant answers

●       Phone support

 

 

 

Account Opening

 

●       Fully digital and fast account opening

●       No minimum deposit

 

Withdrawal & Deposition

 

●       Several accounts base currency

●       No deposition fee

●       Free withdrawal

 

 

●       No price alerts

 

 

 

 

 

●       For Aslan it has higher trading fees and smaller for European stock exchanges

 

 

 

 

●       Only English and Dutch language

●       No Demo Account

 

 

 

 

●       No 24/7 support

●       No live chat

 

 

 

 

 

 

●        None

 

 

 

 

 

●       Debit/credit cards not available

 

 

6. Verdict

Different brokers offer different benefits and also lack some useful things. So, at the time of choosing a broker make sure that you are choosing the right one. Go for the safer one and also search for those brokers who charge the lowest. Being a beginner try to opt for the most user-friendly one.

Sharing with Social Networks

About Akram Mondal

Akram Mondal is the man behind TheDatingDairy, a blog solely focused on dating guides, tips and advice. Akram loves essay writing and blogs at EssayWritingGuides from her college days.
View all posts by Akram Mondal →

Leave a Reply

Your email address will not be published. Required fields are marked *