Stock trading was once something that you could only do through a personal broker, who would enter your trades for you. Thanks to the advent of the Internet, anyone with enough money and know-how can participate in stock trading from home. Here are the best online brokers for beginners.
ShareBuilder’s stock trading website is a Forbes favorite for beginners, because it supplies plenty of information that’s relevant for new traders. The vast majority of traders at ShareBuilder are just getting their feet wet in investing. As Forbes pointed out, however, there isn’t much in the way of equity research; but because the site is otherwise user-friendly, it’s a best bet for stock trading. Beware that ShareBuilder does have somewhat slower customer service than other sites.
Fidelity is a perennial favorite in the rankings of online stock trading sites because of its tools, though it is geared more toward the frequent trader with larger assets. Investors rave about Fidelity’s simulation planner. The company offers free apps for your iPhone or iPod Touch. Once you know what you’re doing, Fidelity is a safe bet for your online stock trading. At just $7.95 per trade, Fidelity offers some smart tools while taking small commissions. There are less expensive commissions at a few other discount stock trading sites, but they usually have hidden fees.
Schwab is another super website because it is user-friendly, which is critical when trying to execute a trade, and there are plenty of quality investment products. The customer service is highly rated. The site even offers free trades on several ETFs. However, the downside of Schwab is the fee schedule. If you have less than fifty thousand dollars with Schwab, you’ll be charged an extra one hundred twenty dollars annually.
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