{"id":35943,"date":"2022-08-11T07:30:51","date_gmt":"2022-08-11T11:30:51","guid":{"rendered":"https:\/\/wallethacks.com\/?p=35943"},"modified":"2023-09-21T09:05:31","modified_gmt":"2023-09-21T13:05:31","slug":"best-online-stock-brokers-for-new-beginner-investors","status":"publish","type":"post","link":"https:\/\/wallethacks.com\/best-online-stock-brokers-for-new-beginner-investors\/","title":{"rendered":"Best Online Stock Brokers for New Beginner Investors"},"content":{"rendered":"\n

I started investing when I was 18. <\/p>\n\n\n\n

My dad told me about Roth IRAs and we opened an account at Vanguard, which is the broker he used.<\/p>\n\n\n\n

Back then, commissions on stock trades were exorbitant. I don’t recall what I paid but I wouldn’t be surprised if it was something like $15 a trade.<\/p>\n\n\n\n

As a beginner investor with very<\/em> little money, I couldn’t afford $15 a trade. It was doing the dot com boom so every technology stock was doing great so $15 a trade didn’t seem all that bad. Eventually, after being lightly toasted on a few stocks (any JDS Uniphase fans out there!?), I just put it all into the Vanguard STAR fund (VGSTX<\/a>) because it had a $1,000 minimum. <\/p>\n\n\n\n

When you’re just starting out, you want an easy to use interface, low or no commissions, no fees, and the willingness to avoid the complex stuff that’s out there. That includes complex financial instruments and complex tools that will only confuse you.<\/p>\n\n\n

Table of Contents<\/summary>
  1. What We Looked For<\/a><\/li>
  2. Best Online Stock Brokers for New Beginner Investors<\/a><\/li>
    1. Ally Invest<\/a><\/li>
    2. Vanguard<\/a><\/li>
    3. Public<\/a><\/li>
    4. E*Trade<\/a><\/li>
    5. Merrill Edge<\/a><\/li><\/ol>
    6. Notable Exclusions<\/a><\/li>
      1. Brokers You Hear In The News<\/a><\/li>
      2. Various Savings Apps<\/a><\/li><\/ol><\/ol><\/details>\n\n\n

        What We Looked For<\/h2>\n\n\n\n

        We put together this list of the best online brokers for beginner investors because this is the list I wish I had when I started investing.<\/p>\n\n\n\n

        These are the factors we considered:<\/p>\n\n\n\n