Best Stock Brokers for Beginners

I am currently using Robinhood, Capital One Investing (Sharebuilder) and Vanguard. I will also briefly introduce Charles Schwab, Scottrade, E-trade and Motif.

Robinhood (updated)

It is definitely  the best for beginners.
If you decide to open an account, you are welcome to use my referral. (http://share.robinhood.com/minweis) Both you and me have the chance to get free stocks. Good luck!

Pros: No commission! No minimum. No settlement period (used to be 3 days). Easy to use. Start from $10/month, you can borrow money and trade after-hour. From Dec. 2017, you can also trade options.

Cons: Smartphone is required (they started to provide web service from Dec 2017). Server could be slow in busy trading hours, although it has been improved a lot recently. Some foreign stocks can not been traded yet. The last, you may need to charge your phone for multiple times if you trade a lot.

Capital One Investing

Pros: Convenient to transfer fund if you have Capital One banking account. No minimum. You can trade almost everything, Stocks / Options / ETFs / Mutual Funds.

Cons: Commission is relatively high --- $6.95. I used my Costco executive membership to lower commission to  $5.95 ---- not sure if such offer still exists.

Vanguard

Pros: Best low-fee Mutual Funds. There is no commission to trade its own funds. I have my IRAs there.

Cons: The trade is not real-time, will be executed the next trading day. It takes 3 business days to transfer fund.

Charles Schwab

Among largest selections of commission-free ETFs. Commission $4.95 per trade. Minimum $1,000.

E-trade & Scottrade

Quite similar. High level of support with local offices. Commission $4.95 per trade. Minimum $2,500.

Motif

They help to diversify the portfolio of small account. Low commissions, availability of fractional shares, $4.95 per trade; $9.95 per motif (I think it is like customized mutual fund); 1 month free trial of Motif Blue. No minimum, but $300 balance to invest in a motif.

Comments

  1. Shan HeSeptember 29, 2017 at 8:42 AM

    I would like to buy some TCEHY or GELYF, which broker to use? I have Ally invest, but it does not allow me to order such stocks online. Thanks.

    ReplyDelete
    Replies
    1. UnknownSeptember 29, 2017 at 10:39 AM

      You may try IB, which is often considered the best broker for frequent traders, serious traders, or high net worth traders.. They list the fees here for trading foreign stocks. o.o8% trade value for HK https://www.interactivebrokers.com/en/index.php?f=1590&p=stocks1

      You may also check Fidelity. I am not sure about their commissions.
      https://www.fidelity.com/stock-trading/international-stock-trading

      Delete
  2. UnknownMarch 7, 2018 at 12:56 AM



    Really awesome blog. Your blog is really useful for me. Thanks for sharing this informative blog. Keep update your blog.


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  3. UnknownSeptember 14, 2018 at 2:42 AM

    In today's market, investors are wondering if they should even buy stocks and if they can make money. The answer to both is "yes." Stock market trading is a wonderful opportunity now, with prices lower and volatility higher than in many years. Stock trading online has never been more popular.

    ReplyDelete
  4. KaydenIvySeptember 18, 2018 at 10:32 PM

    nice post and please provide more information.thanks for sharing
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    ReplyDelete
  5. Jaismeen LewisOctober 12, 2018 at 12:49 AM

    Nice Blog. These days i'm really want to know about business brokers and i found your blog. Thanks for providing the Best Business Brokers In New Zealand. Keep up to the great work

    ReplyDelete
  6. CapitalHeightOctober 17, 2018 at 12:18 AM

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  7. Emma watsonOctober 17, 2018 at 3:45 AM

    nice blog and its quite useful thanks for sharing your information.
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  8. JosephOctober 23, 2018 at 3:13 AM

    Thanks to share the fundamental basic information about the stock brockers.
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    ReplyDelete
  9. UnknownNovember 22, 2018 at 3:28 AM

    This is the beneficial information for all beginner traders, on the initial stage trader should focus on learning and they need proper guidance, and a stock broker is best guide for the investment in the market. Swastika Investmart is the Best online share brokers in the market.

    ReplyDelete
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