Best brokers for beginners: summary
BROKER | BEST FOR | HIGHLIGHTS | COMMISS- IONS | PROMOTION | ACCOUNT MINIMUM | START INVESTING |
|---|---|---|---|---|---|---|
Overall | Broad educational content; no inactivity fees | $9.99 per trade | $100 to $600 cash bonus, depending on account size | $0 | ||
Overall + Mutual Funds & ETFs | Among largest selections of commission-free ETFs | $8.95 per trade | $100 to $500 cash bonus for deposits of $10,000 or more | $1,000 | ||
No account minimum | Low commissions, superior trading tools | $9.99 per trade; volume discounts | Trade free for 60 days with deposit of $10,000 or more | $500 ($0 for IRAs) | ||
No account minimum | Breadth of research reports | $6.95 per trade | $100 to $600 cash bonus, depending on account size | $0 | ||
Customer support | 24/7 live support; free investing seminars | $7.95 per trade | 300 commission-free trades with deposit of $50,000 or more | $2,500 ($0 for IRAs) | ||
Customer support | High level of support: online + 500 branches | $7.00 per trade | 50 commission-free trades with deposit of $10,000 or more | $2,500 ($0 for IRAs) | ||
Low cost | No-frills, free trading app for beginners | $0 per trade | None | $0 | ||
Low cost | Low commissions, free tools and research | $4.95 per trade | $1,000 in free trade commissions with deposit of $5,000 or more | $0 | ||
Mutual Funds & ETFs | Low-cost index funds and ETFs | $7 for first 25 trades/year, $20 for later trades | None | $0; $1000+ fund minimums |
