Best online stock brokers for beginners

As a beginner investor, you may be working with limited funds, and you may need a bit more guidance getting started. That means you might benefit from a broker with no account minimum and more educational resources. A low- or no-minimum-deposit requirement lets investors who don't have a ton of spare capital get started investing early, so you can gradually build your first investment portfolio and take advantage of long-term gains.

Which online broker is best for beginners?

We’ve created a list of the most beginner-friendly brokers by looking at their customer support, first-class educational and research material, easy-to-use platforms and products, and their pricing. And now, let's see the best online stock brokers for beginners in 2022 one by one, starting with a new force in the broker industry, Robinhood.

Robinhood

Robinhood is the pioneer of commission-free stock trading. The platform is most suited to investors looking to make quick, easy and free trades through an app, without all the extra frills. Opening an account at Robinhood is very simple and trading on their mobile app is perfect for beginners. Its mobile and web trading platforms are user-friendly and well designed. As of 2021, Robinhood has 31 million users[8] and 1.6 million people on a waitlist for its cryptocurrency wallet.

As of 2021, Robinhood has 31 million users and although one of the newest brokers on the market, when Robinhood is compared to E*Trade, Robinhood has the higher customer base.

Some retail investors are following the stocks which politicians, or their spouses trade. Wouldn’t it be a nice if a professional trader could make your trades for you? As a novice trader in the stock market, social trading can be especially beneficial to new and inexperienced traders. eToro’s social trading platform facilitates just that.

eToro

As a pioneer of copy trading, eToro stands out for its easy-to-use copy trading platform which allows you to copy the trades of proven professionals. You’ll be able to browse legitimate traders, learn about their strategy, view their previous success, and even interact with them. Then, after clicking “copy”, any trade they make, you’ll automatically make as well.

eToro is also a great option for highly experienced, successful retail traders who would be interested in sharing their ideas in lieu of rewards.

Do you like the idea of building wealth automatically? If you’re looking for a world-class robo advisor with no management fees, SoFi Invest should absolutely be at the top of your list. Think SoFi Invest is right for you? Let’s take a deeper dive.

SoFi Invest

If Robinhood, eToro or SoFi Invest are not quite what you are looking for, just made it to the list at number four.