What is the Best Trading Platform for Beginners?
PhenoFX review, cryptocurrency broker that prioritizes its consumers over all else. If you are now at the beginning of your trading and investing career, you are prone to making mistakes. Thankfully, this article is meant as a way for you to avoid that and start on the right foot. Most beginners pick the worst trading platforms simply because they are uninformed. Then their progress is non-existent or they even end up losing money and, finally, they give up. This shouldn’t happen because a good trading platform should act as your guide, analyst, and shelter. We will present you with what could be the best trading platform for beginners but the final decision should always be yours. PhenoFX is a cryptocurrency broker with features that are unique. Read all latest information about cryptocurrency review and mining reviews, PhenoFX TOP reviews and many more.
Merrill Edge has no minimum opening deposit requirement and no stock trade fee. Plus, the research tools that it offers are some of the very best in the industry. There are also a lot of rewards to be gained if you choose this online broker. Merrill Edge has Stock Story and Portfolio Story as its proprietary tools and an excellent customer support system to take advantage of.
This online trading platform offers stocks, mutual funds, options, bonds, and ETFs. You cannot trade on shares, forex, futures, and crypto. Some of its education resources include a comprehensive collection of more than 150 articles along with webinars and podcasts. Another one of Merrill Edge’s amazing features is the automatic portfolio management tool and advisory services from a professional advisor. It has a total of 3466 mutual funds and a $.65 fee if you choose options trades.
Vanguard is one of the best trading platforms if you want a low-cost solution that also comes with a lot of benefits. It doesn’t charge a trade fee and it doesn’t have a minimum required deposit. It also has a relatively big mutual fund selection (over 3,300) and allows trades on ETFs, options, and stocks with no commissions. In case you are the type of trader who is more into long-term investments, Vanguard is certainly difficult to beat.
It’s also worth noting that this trading platform charges a $20 annual account fee that can be waived by signing up for statement e-delivery. There are no transfer fees as well as no closing or inactivity fees. While Vanguard doesn’t offer the possibility to trade on crypto, it has some crypto-based products to check out. The educational resources and tools are where this platform falls short. It does not provide in-person support but its phone and e-mail support options are top-notch.
Fidelity is probably the best trading platform for beginners with no stock trade fees or minimum required deposit. This platform cherishes value above all. Plus, it has incredible research to offer, a very good mobile app, and amazing trading instruments. It may not offer forex, futures, and crypto trading but it offers international trading. This means that users are able to exchange between sixteen currencies and trade in 25 countries. Its total of mutual funds is 9615 and the options fee per contract is only $0.65.
Another incredibly useful feature of Fidelity is its free mobile app that is user-friendly and fast. It has been customized to be easy to use and bug-free. Moreover, if you feel like the standard version of the app is a bit overwhelming, you can toggle the Beta Experience. This will simplify everything and will make the experience more prone to beginner traders.
To sum it all up, we may not have found the best trading platform for beginners but we have surely offered some of the most attractive ones to try. Each of these platforms has its ups and downs. While some may be suitable for a certain category of traders, the others might be exactly what other kinds of traders are looking for. What remains is for you to compare your options and see what fits you and your trading style and goals the best.