A big but popular misconception about trading is that many already established traders say beginners would find it difficult to excel. While this is not entirely false, there are a lot of small truths in it.
As you probably know, trading can be challenging and time-consuming at the same time. However, this should not stop you from stepping into the fray if it interests you. Moreso, there are now numerous beginner-friendly websites to help you get started. It does not matter if you have no experience or have used any trading tools before. Most of these websites do you the favour of providing almost everything you need to start.
So, welcome confused beginners! This article will take you through the top ten trading websites to start your trading career. Still fearful? You should not. Follow this well-detailed article to the end, explore the websites and choose your choice.
Robinhood
No, this has nothing to do with stealing from the rich and giving to the poor. However, the Robinhood website can provide you with the instruments and materials you require to begin your trading career. The well-known platform offers several kinds of trading. So, whether you are interested in cryptocurrencies, stocks, or Exchange Traded Funds (ETFs), Robinhood has you covered.
Do you know what’s more? The platform is 100% without commissions. This is not one of the platforms you register and ask to pay without having access to the trading dashboard. All in all, the website is extremely easy to use and offers a wide range of assets. On the other hand, you might find it challenging to use if you do not use trade in dollars. Besides that, it has almost no other con.
Bitcoin Up
This trading website is one of the most unique you would ever find. Unlike most trading websites, Bitcoin Up works in a different exciting manner that sounds almost perfect for newbies to the trading world. Let’s explain.
Instead of offering trading services directly, what Bitcoin Up does is that it connects you to experienced and reliable brokers. These brokers then offer you suitable trading software with beginner-friendly materials to match.
So, you have access to try a demo account before you invest any capital into trading. The most interesting part is that? Registration is free, and the minimum deposit of $250 for your trading account is very affordable. In addition, you can trade several assets from stocks, cryptocurrencies, and commodity options, to index funds. However, the platform expects that you confirm trading regulations with the authorities in your region before using the platform.
eToro
There is a high chance that you have heard about the eToro trading website due to its immense popularity. But its famous nature is far from being the best thing about it. For a start, let’s tell you that eToro has millions across the globe, and it is surprisingly Israel-based.
As a beginner trader, you can enjoy several benefits from being just an eToro user. eToro allows you to trade cryptocurrencies, stocks, ETFs, Contract for Differences (CFDs), and even forex. That is not all.
You can do all of these with a minimum account fee of $50. In addition, eToro’s cost per trade is between 0.75% and 5%. So, you never have to worry about paying huge fees. On the downside, beginners may find it a little difficult to access research tools on the eToro website.
Webull
The third website for beginners to try out is Webull. As the name implies, Webull aims to help you make the most of your trading journey, especially as a newbie. While it is US-based, Webull extends its hand of help to a few other countries.
Like Robinhood and Bitcoin Up, Webull is also commission-free! Registration is fast, and you can access live data of several markets in no time! However, Webull has its con which might be a big challenge. To transfer one asset from Webull to another platform, you may need as much as $75 in transaction fee to do that successfully.
E*Trade
E*Trade is another trading platform you should not miss as a beginner. With a $0 minimum deposit, E*Trade offers unlimited access to the trading world. On the website, you can trade both stocks and ETFs. While it was founded in 1982, E*Trade has sustained its reputation of being one of the most dependable user-friendly trading websites.
On the E*Trade platform, transaction fees can be as low as $0.50. Also, you have access to training material and a demo account. However, you might not be able to access international trading using the platform.
TD Ameritrade
You can almost guess that this platform is for American residents alone, but that is not the case. TD Ameritrade is one of the most beginner-friendly trading websites you would ever find. Wondering why? We will tell you.
First, the platform offers a wide range of tools for beginners to learn. Furthermore, the website is absolutely user-friendly with its modern-day interface. There are several investment options to choose from too. The only challenge you may find is that it offers different kinds of accounts, which may confuse you as to which to use.
Trade Station
For Trade Station, it is a seamless trading journey for beginners. With $0 in trading fees, Trade Station has become one of the most reliable websites to help beginners’ trading journeys. This is one more reason why the website user rate is so high that you would hardly find a less than 4-star rating anywhere on the internet. However, newbie traders need to know this. Trade Station minimum deposit is a little higher than the ones we’ve mentioned earlier. So, to use Trade Station, you need a minimum trading capital of $500. While this may be a little on the high side, it’s mostly worth it in the end.
SoFi Checkings and Savings
You might probably be thinking—why do you need a savings website to trade? Don’t be mistaken. SoFi Checkings and Savings is no bank. It is a globally -used trading platform like the others. If you are wondering what the perks are, we will let the cat out of the bag.
As a SoFi user, you can get a 2.5% Annual Percentage Yield (APY) even with a $0 account balance. That is not where it ends. Both beginners and long-faithful users also have the opportunity to make as much as $300 in trading bonuses. Is that not mind-blowing? So, if you like a lot of freebies, then there is no reason you should miss out on trying out SoFi Checkings and Savings.
Merrill Edge
Merrill Edge stands out among several trading websites. First, over the years, the platform has built its reputation around fantastic customer support. As for trading benefits, Merrill Edge offers a wide number of ETFs and stocks. It even gets better if you have an account with the Bank of America. You hold a special place in Merrill Edge’s heart if you do.
On a lighter note, some beginners may find Merrill Edge a little challenging to use. This is not because it is not suitable but because there are a few other advanced sections of the website that only an experienced trader may find easy. If a beginner finds himself there, it could sometimes be difficult to head back to the newbie-friendly interface.
Firstrade
Number ten on the list in no particular order is Firstrade. The Firstrade website is a part of the top ten we have found worthy of mention. Even though it’s one of the oldest online brokerages, it has remained highly reputable and provided non-stop support for beginner traders.
Firstrade offers numerous trading options. A visit to the website shows you that trading options, stocks, and mutual funds are not out of reach. With a $0 account minimum fee, you can use Firstrade. Also, the cost per trade is $0 too.
Well, you can call this saving the best for the last. However, this article has placed these websites in no particular order. However, two major cons affect Firstrade. First is the fact that you cannot access a demo account. Secondly, Firstrad has not been able to overcome its customer support issues considering that it serves millions of users. Still, it has super-solid security, and breaching the platform is almost impossible.
In Conclusion
Finally, let’s remind you that no matter the amount of sugar-coating, trading remains risky. However, with the help of the website listed above, you can have your trading career sailing smoothly on a ship.
Again, let’s assure you that these websites, from eToro, Bitcoin up to Robinhood, remain some of the best trading websites you can find. If you are a beginner, it even makes it better.
That said, we encourage you to do your own research or speak to a financial advisor before making any investments in these platforms. This article remains strictly informational, and we do not expect you to make critical investment-related decisions from this information alone.