New Investors will always ponder upon what trading platform they should opt for as a beginner.
For 2021, it is important to know how to find the best trading platform to use. Many platforms actually encourage you to learn and use a variety of educational materials too. Usually the best platforms will give you access to market research too, to contribute to your learning and trading, as a broker.
This article will give you insights on different trading platforms on the market that target beginners. Each variety will offer unique features such as seminars for your learning, video content, webinars and tracking tools to allow you to monitor your progress. You will even have some quizzes at the end of your training, that will allow you to check how much you have learnt, from all the knowledge acquired so far with the trading platform.
So, what are the best trading platforms you ask?
- Merrill Edge
- Robinhood
- E*TRADE
- Fidelity
- TD Ameritrade
Merrill Edge
Merrill Edge offers you $0 trading with some great tools that the industry recommends. Also within the platform, you will find great customer service accessibility, should you be wanting to enquire about a certain series of things. For all customers that are based within the region of the USA, you will find that there is a rewards programme, especially for members that excel when they trade.
Robinhood
Investors that are looking for the basics of platforms to adapt and grow with as a beginner, will be pleasantly surprised by this trading platform. Robinhood doesn’t provide any market research, meaning the trading tools should help you as a beginner, when you are making decisions that are rather important.
E*TRADE
E*TRADE is a platform that is perfect for new starting users who are wanting to build their confidence when it comes to trading. The trader is really easy for beginners to use and can most importantly provide features which allows you to track all your moves as you make them. When you record your progress, you have a better way of reflecting on your progress. So, this platform has definitely thought of what it is like for beginners who approach the trading market. Nicely enough, this platform is available across multiple ways, such as web browser and mobile application, meaning you can most definitely cater your trading and learning around you and your own requirements.
Fidelity
Fidelity is a broker which offers $0 trades, in addition to research which is relatively recent and very recent. The trading tools are super easy to comprehend as a beginner, as well as the entire app in itself. You will find it very easy to walk through and navigate across, with no difficulty. In addition to this, customers have access to some retirement services which you can opt in for, if you commit to it as a full-time investor within the platform. Incentives like these are a plus and do not happen to be available across other platforms out there.
TD Ameritrade
TD Ameritrade will bring to you $0, with amazing platforms to operate your trading from. All the research within the platform is relevant and industry leading, meaning you should find the highest of education for yourself as a beginner. The customer services integrated within the platform operate on a 24/7 basis, meaning should you require further assistance, you definitely have nothing to worry about at all here. Many traders say that Ameritrade is the best app for beginners within the market today, so it could be worth it to check it out.
Things you should know
What is Paper Trading?
Paper trading is a feature within the traditional stocks, and will allow you to enable the ETFs and options that come with fake money too. This is great for beginners and has proven very popular in the beginning for many newcomers that come into trading. You will basically practice trading without having to risk any real money in the process. This resource is invaluable and many should utilise it to prevent any mistakes that could come along the way upon your trading journey. E*Trade and TD Ameritrade are the best examples of providing paper trading for beginners, so definitely check them out!
Yahoo also created an article to provide further information for beginners and those contemplating trying it. It could prove educational!
How do you Buy Stocks Online?
To actually buy stocks, you will need to make a broker account online first. This will need to have some funds within it too. The next part of the process to actually research about the stocks that are on the market to buy. This process is a lengthy one and therefore you should not be making immediate answers right away. Take your time and go with the flow and process. The last thing you will do is of course purchase a ticket and enter that exact symbol for the stock, alongside the actual shares that you wish to buy during the trading. Once you have distinguished what you need to do, the trade can be placed and of course fate will be revealed as the time passes.
What are Fractional Shares?
Fractional shares are not a whole share, and rather a fraction of one. This actually allows investors to make investments into companies at a fraction, and works very well for traders that cannot afford to purchase whole shares. You could imagine that one share for big publicly traded companies like Amazon, one share would cost a total of $3000. The fractional trading allows you to purchase a fraction of the share for $300 instead, and will be presented to you as a fractional figure of 1/10 for example. Just keep in mind that not all trading platforms will offer this service, so you will need to look out for specific platforms that give you this opportunity.
Is online trading safe?
Online trading is safe if you make sure to operate on the regulated platforms that the industry has to offer. You will of course have to make sure that you invest amounts that you are willing to lose in the process, as you will never be guaranteed of a win. The risk can be huge for stock trading, and it is generally said that you need to be wary and very educated to get into the game of doing it right.
