Automated portfolio management option<\/td> <\/td><\/tr><\/tbody><\/table><\/figure>\n<\/div><\/div>\n\n\n\n\n
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Vanguard<\/h2>\n\n\n\n A great option for beginners, Vanguard features an old-school style appeal that experienced traders won\u2019t appreciate. Retirement savers and buy-hold investors however, will appreciate this platform. <\/p>\n\n\n\n
It\u2019s a simple but appealing platform that is easy to learn. <\/p>\n\n\n\n
Vanguard is not ideal for active trading due to having only 10 technical indicator tools available on its charting software, and it doesn\u2019t offer forex or futures trading.<\/p>\n<\/div>\n\n\n\n
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PROS<\/th> CONS<\/strong><\/th><\/tr><\/thead>Excellent market research <\/td> No forex or futures trading<\/td><\/tr> Simple to use and learn<\/td> Small selection of charting tools<\/td><\/tr> Large selection of inexpensive ETFs and mutual funds<\/td> <\/td><\/tr><\/tbody><\/table><\/figure>\n<\/div><\/div>\n\n\n\n\n
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Robinhood<\/h2>\n\n\n\n Robinhood offers only the basics for beginners. Its strength is in its simplicity and low fees. It is best for beginners on a budget who are looking for low fees.<\/p>\n\n\n\n
Robinhood\u2019s bare-bone mobile platform is easy to navigate, which is perfect for new investors. Although there are no educational offerings, so resources will have to be found elsewhere.<\/p>\n\n\n\n
The platform offers very little market research and trading tools, which is a downside for more experienced traders.<\/p>\n<\/div>\n\n\n\n
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PROS<\/th> CONS<\/strong><\/th><\/tr><\/thead>Low fees<\/td> Very limited educational resources<\/td><\/tr> Very user-friendly platform<\/td> <\/td><\/tr> Simple to use<\/td> <\/td><\/tr> Fractional shares offered<\/td> <\/td><\/tr><\/tbody><\/table><\/figure>\n<\/div><\/div>\n\n\n\n\n
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E*TRADE<\/h2>\n\n\n\n E*TRADE is one of the most well-known online discount brokers, but it isn\u2019t the most beginner-friendly. <\/p>\n\n\n\n
It is best for options trading, offering a fast order execution time. The mobile app allows you to easily trade on-the-go. If you're after a more passive investment approach, then you should look elsewhere. Less frequent traders will face steeper per-contract commission fees.<\/p>\n<\/div>\n\n\n\n
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PROS<\/th> CONS<\/strong><\/th><\/tr><\/thead>Two comprehensive mobile apps<\/td> Higher per-contract options fees for less frequent traders<\/td><\/tr> Paper trading offered<\/td> Only for US citizens<\/td><\/tr> Wide range of research and analysis tools<\/td> <\/td><\/tr> Prebuilt Portfolio for a fast track to markets<\/td> <\/td><\/tr><\/tbody><\/table><\/figure>\n<\/div><\/div>\n\n\n\n\n
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Merrill Edge<\/h2>\n\n\n\n Merrill Edge is another solid option for beginner investors, particularly customers of the Bank of America. It offers top-notch research and analysis tools.<\/p>\n\n\n\n
It also provides excellent customer service and a cash-back rewards program. You can sit down face-to-face with an advisor in almost any Bank of America branch nationwide.<\/p>\n\n\n\n
Merrill Edge\u2019s margin rates and per-contract fee are on the pricey side. You can't trade options, futures, or cryptocurrencies.<\/p>\n<\/div>\n\n\n\n
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PROS<\/th> CONS<\/strong><\/th><\/tr><\/thead>Thorough stock research available<\/td> High margin rates and per-contract options fees<\/td><\/tr> Various stock analysis tools offered<\/td> No futures trading, futures options, or cryptocurrency<\/td><\/tr> Easy access to customer support<\/td> <\/td><\/tr> Cash-back rewards program<\/td> <\/td><\/tr><\/tbody><\/table><\/figure>\n<\/div><\/div>\n\n\n\n\n
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Acorns<\/h2>\n\n\n\n Acorns is a good stepping stone for beginner investors to build healthy financial habits. With its optional Round-Up feature, every credit card transaction you make is rounded up to the nearest dollar. Your spare change is then invested by Acorn.<\/p>\n\n\n\n
While micro-savings is the main appeal, Acorn is great for retirement and custodial investment accounts.<\/p>\n\n\n\n
A disadvantage is Acorns\u2019 high management fees. It also charges per ETF transfer, which is surprising for online brokers nowadays.<\/p>\n<\/div>\n\n\n\n
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PROS<\/th> CONS<\/strong><\/th><\/tr><\/thead>Micro-savings feature<\/td> Expensive management and trade fees<\/td><\/tr> Good educational resources<\/td> <\/td><\/tr> Unique rewards program<\/td> <\/td><\/tr><\/tbody><\/table><\/figure>\n<\/div><\/div>\n\n\n\n\n
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Fidelity<\/h2>\n\n\n\n As a leading full-service broker, Fidelity has several managed investment options for beginners to choose from. This includes personalized portfolios and advisory services.<\/p>\n\n\n\n
They offer a premium trading platform and research. It boasts commission-free trades of stock, options, and ETFs. Plus, it offers no-fee index funds.<\/p>\n\n\n\n
Fidelity doesn\u2019t offer futures or forex trading, which is a downside. The firm also charges high broker-assisted fees.<\/p>\n<\/div>\n\n\n\n
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PROS<\/th> CONS<\/strong><\/th><\/tr><\/thead>Commission-free stock, options, and ETFs<\/td> High broker-assisted trade fees<\/td><\/tr> Premium research offered<\/td> Lack of futures and forex trading<\/td><\/tr> No-fee index funds<\/td> <\/td><\/tr> Strong customer service<\/td> <\/td><\/tr> Strong mobile app platform<\/td> <\/td><\/tr><\/tbody><\/table><\/figure>\n<\/div><\/div>\n\n\n\n\n
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TradeStation<\/h2>\n\n\n\n TradeStation has a steep learning curve for beginners. This trading platform requires you to learn a new programming language.<\/p>\n\n\n\n
It focuses on trade executions and market data. While TradeStation does provide a range of resources to help you, this isn\u2019t recommended for first-time investors.<\/p>\n\n\n\n
Tradestation is better suited to everyday traders looking to improve on trading skills.<\/p>\n<\/div>\n\n\n\n
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PROS<\/th> CONS<\/strong><\/th><\/tr><\/thead>Good charting and analysis tools<\/td> Steep learning curve to develop your own trading system<\/td><\/tr> Ideal for active trading<\/td> Only available to US citizens<\/td><\/tr> Wide range of educational resources<\/td> <\/td><\/tr><\/tbody><\/table><\/figure>\n<\/div><\/div>\n\n\n\n
![\"TD](\"https:\/\/www.publicfinanceinternational.org\/wp-content\/uploads\/2020\/06\/td-ameritrade-logo.png\" "\\"\\"")
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<\/figure><\/div><\/div>\n<\/div>\n\n\n\n![\"interactive](\"https:\/\/www.publicfinanceinternational.org\/wp-content\/uploads\/interactive-brokers-logo.png\" "\\"\\""){kind=logo}
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