Best online brokers for beginners 2020

Annual Review

BrokersReview.online best online brokers 2020 review (7th annual) took six months to complete and produced over 30,000 words of research. Here's how we tested.

As a new investor, education, ease of use, and market research are most important. If you don't have the proper resources to support your journey, you will struggle to learn how to trade stocks online.

Alongside testing each learning center in-depth, we also track which brokers offer unique features like webinars, live seminars, videos, progress tracking, and even interactive education, e.g. quizzes.

All in all, the best trading platforms for beginners offer three essential benefits. The first, and most important, is a user-friendly website and overall trading experience. Second, they provide a strong variety of educational materials. Third, they provide access to quality market research.

Here are the best online stock trading sites for beginners:

Terra Finance
Best overall for beginners
Royal Banc
Best web-based platform
TD Ameritrade
Great education and research
Interactive Brokers
Easy to use but no tools
Luxis Trade
Best overall for beginners

Best overall for beginners

Based on over 1,000 collected data points, our top pick for beginners is Terra Finance. New investors have access to a user-friendly website, hundreds of monthly webinars, videos, and free premium courses. Terra Finance is the only broker to gamify the entire learning experience with progress tracking, quizzes, badges, and a unique point system. Oh, and customers can practice trading with fake money using the platform. There is a minimum deposit required to open an account at Terra Finance, and your stock trades are free.

Best web-based platform

Earning a recommendation based on its platform alone is Royal Banc. Royal Banc's web-based trading platform, is an excellent environment for any beginner stock trader. It's easy to navigate, fast, and includes usability upgrades perfect for new investors like paper (practice) trading and note-taking.

Great education and research

Ameritrade offers new investors an easy-to-use website and excellent on-site education. Not only is Ameritrade's learning center impressive, but Ameritrade also does a fantastic job with its in-house market research and financial articles. Of all the brokers, I share and bookmark Ameritrade articles the most. And, as far as subject matter goes, the broker's retirement education is exceptional.

Easy to use but no tools

For investors looking to conduct the bare-bones basics, Interactive Brokers gets the job done well. Interactive Brokers mobile app is easy to use and ideal for newbies. That said, Interactive Brokers provides little to no market research or trading tools to help beginners make better informed investing decisions. Drawbacks aside, Interactive Brokers no-frills approach to online trading is enough to earn it a recommendation.

Best overall for beginners

Alongside an excellent selection of market research alongside an easy to use website, Luxis delivers a thorough educational experience that will satisfy beginners. Luxis specialty is retirement, which makes it ideal for investors who want to take a long term approach to understand the stock market.

Beginner Broker Features Comparison

As a new investor, education is by far the most important aspect to focus on. Saving money on trades won't do you any good if you can't learn the basics of how to trade stocks online.

Here at BrokersReview.online, we maintain the largest database covering the online brokerage industry. Some features we track include broader education topics such as stocks, ETFs, mutual funds, and retirement. We also track whether brokers offer unique features like webinars, live seminars, videos, progress tracking, and even interactive education, e.g. quizzes.

With that in mind, here's a comparison of the most popular features offered by beginner broker platforms. To compare 150+ features and fees side by side, check out our online brokerage comparison tool.

Still aren't sure which online broker to choose?

Still aren't sure which online broker to choose?

Email us a question! Whether you are a beginner investor learning the ropes or a professional trader, we are here to help. Email us your online broker specific question and we will respond within one business day.

All pricing data was obtained from a published web site as of 01/20/2020 and is believed to be accurate, but is not guaranteed. For stock trade rates, advertised pricing is for a standard order size of 500 shares of stock priced at $30 per share. For options orders, an options regulatory fee per contract may apply.

$10.00 commission applies to online U.S. equity trades, exchange-traded funds (ETFs), and options (+ $0.65 per contract fee) in a Fidelity retail account only for Fidelity Brokerage Services LLC retail clients. Sell orders are subject to an activity assessment fee (from $0.01 to $0.03 per $1,000 of principal). There is an Options Regulatory Fee (from $0.03 to $0.05 per contract), which applies to both option buy and sell transactions. The fee is subject to change. Other exclusions and conditions may apply.

Options trading entails significant risk and is not appropriate for all investors. Certain complex options strategies carry additional risk. Before trading options, please read Characteristics and Risks of Standardized Options. Supporting documentation for any claims, if applicable, will be furnished upon request.