Finding a good trading platform can be the first challenge a beginner trader must experience. Even if you are an expert, using a suitable application that gives more returns at low fees is not easy. The platform you are using must be easy-to-use, and one should understand all the features available for an investor.
Before you create an account, you must check whether it is good enough for you to use. In the following write-up, we will discuss some of the easiest trading platforms that are available for beginners.
When you step into the trading industry, things can be a bit new and challenging for you. But you must research thoroughly and get a solution to any problem. Initially, you might have little funds to give for investment and trading. There will be a lot of expectations with the returns. Therefore, you must consider all the following trading platforms to begin your journey.
1. TD Ameritrade
Source: tdameritrade.com
You can easily trade on this application without paying extra money for a commission. If you are interested in stocks and ETFs, then it is better to consider this application. There is no minimum requirement while creating an account on this app. You can easily access all the features and use them accordingly. If you are confused about making better investment decisions, you can use many analytical tools that are available here.
You can plan various things to acquire a significant deal by checking the calendars, analyzing the market trends, testing, and much more. Before making any strategy, check all the historical data and do thorough research. You can also use the mobile app and access everything on your phone. Wherever you go, you can use this application for trading.
2. Fidelity
Source: forex.academy
It is a great stock exchange application, which is perfect for beginners as well as experts. Its interface is easy to understand, but you can also watch videos before exploring the features. When it comes to commission fees on standard trades, you do not have to pay anything.
You can access plenty of analytical tools that are necessary to do trading. You may need help while investing, and you can get help from a coach or experts. It is a hybrid system that involves professionals who can guide every activity that you do on this platform.
It is easy to make strategies with the help of an estate planner and all the available tools. If you get stuck anywhere, the customer service team is available to provide assistance. You can click here to know and compare it with different platforms.
3. Robinhood
Source: streetfins.com
For a beginner, it is not easy to invest and trade his money. The person requires more help in understanding the process and how it can be executed. With proper research material, you can use the Robinhood application. You will not face any challenges while using this app.
It has a simple interface, and you can easily explore any feature. There is no need to pay any commission on this exchange platform. If you are interested in trading virtual currencies, then you will get limited options for investment.
This application directs money from user orders to all the market makers, which helps execute the trades. You can also use a mobile app to check the market status. If you need any help, you can contact the customer support team, as it is available online for help.
4. Vanguard
Source: devexpress.com
If you are interested in building and handling your portfolio yourself, then it is the perfect platform you should choose. To use this app, you require a little bit of expertise that you can acquire by learning its tutorials. But once you understand the application, you can use it effectively. It is one of the competitive platforms where you can plan and make long-term investments.
There are endless investment plans that you can consider. You can invest in stocks, mutual funds, ETFs, etc. Investing your money at low fees compared to other competitive platforms is possible. You need to deposit a minimum of $50,000 when you create an account and begin trading.
5. Merrill Edge
Source: brokerchooser.com
A trader is not required to pay anything to trade stocks, mutual funds, or other options on this platform. You can use all the available analytical tools and find the appropriate trade with proper research. There is no need for minimum investment if you are using this platform.
But it is essential to create your account with a $1000 deposit amount for the advisory service. It is also easy to budget your investment plans by using the available tools. You can also plan for retirement by using long-term planning tools.
6. Webull
Source: warriortrading.com
It is another commission-free trading and investing application that can let you deal with different things like stocks, ETFs, etc. There is no need to deposit any minimum amount in your account to initiate any step using this app. Within five days, a user gets three trades for lifting the account more than $25000.
Make sure that you research thoroughly before deciding whether to go for any investment plan or not. With the help of analytical tools, you can also trade many fractional shares. Initially, if you are unsure about the returns, you can use the fake money to invest and trade on this platform. It helps you to practice before you do it with real money.
The Bottom Line
It is not simple to step into the trading field for a beginner; hence, he needs to find a suitable platform for its operations. You need to research thoroughly and explore different applications. Once you understand the concept and practice enough, you can use your real money to execute proper investment and trading plans.
Therefore, take enough time and do what is best for you. Learning from experts and how they use such platforms to make significant deals and get better returns is crucial. You may face many challenges in this field, but you must know how to deal with them.
