Investing in the stock market can be a lucrative way to secure your financial future. You can buy and sell stocks through an investment firm where a manager handles the transactions for you. The manager can act as your financial adviser or carry out trades on your behalf without much daily input from you. However, if you envision yourself a bit more hands-on with your investing success, here are some suggestions and advice to use the best trading websites for beginner investors.
What Is Online Trading?
Online trading is a way for you to manage your stock portfolio on your own. Some of the bigger brokerage firms offer full-service sites with a variety of educational information, stock tracking tools, and even practice trades to help a beginner become familiar with buying and selling stocks. Armed with these tools and some risk management techniques, you can become proficient in managing your stock investments and see positive returns.
Trading Site Features
The best sites for a beginner trader have some or all of the following features:
- Easy and clear navigation. Confusing web design can make a somewhat complicated process even more difficult. Look for a site that makes sense to you. Click around and make sure you can easily find the resources you need without getting frustrated.
- Educational resources. These tools can be invaluable for the new investor looking to review the basics and delve into some of the deeper aspects of trading. Find the sites that offer lessons in the way you like to learn: webinars, short explanatory videos, longer articles, blog posts, or demonstrations.
- Informative market research. Trading sites offer the most up-to-date data on market performance, projections, stocks to watch, and advice.
- Clear pricing structure. You should know exactly what the company charges per trade and if there are any commissions or fees. Make sure you understand what each transaction will cost so you can make informed decisions about your investment as a whole.
Available Trading Sites
A few of the big brokerage firms offer sites for beginner trading, and many come equipped with excellent features and customer service.
- TD Ameritrade is known for being friendly to new traders, with a huge library of educational materials, an easy-to-use interface, and even support for voice trades with Amazon Alexa so you can holler out a trade while you’re cooking dinner.
- Fidelity is a trusted brand for retirement investment and offers users a level of in-depth tools to help make sound choices.
- E-trade is focused on market education and following trends closely to keep its users well-informed and requires no account minimums.
Once you’ve compared services, the market is open to your investing future. Consider how much time you have to spend on the website, watching the market, and learning about the best investments. You’ll figure out the times of day and patterns of buying and selling that work best with your schedule and your level of risk-taking. With some optimism and experience, you can find success as your own broker.