Best Online Brokerage Account for Beginners 2018

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If you’re just starting to invest, the first step is to find a low-cost online brokerage account. But what is the best online online brokerage account for beginners?

We’ve spent hundreds of hours reviewing online stock brokers in the US and have come up with a list of which brokers come out on top.

Best Online Brokerage Account for Beginners: Ally Invest

What Makes a Broker Beginner-Friendly?

Each time you go to buy or sell shares of a stock, your online broker will charge you a commission. For investors who plan on day-trading, which means buying stocks and selling them in the same day, it’s very important to keep commissions low. Even for the infrequent investor, there’s no reason to pay a lot of money in commissions.

It’s tough to go wrong with the brokers with a broker that has the lowest fees in the industry, like Ally.

Typically, when brokers offer such discounted commissions, they skimp out on other important aspects of their business like customer service or trading tools.

Having 24/7 customer service is always a good thing to look for in a broker, because you never know when you’ll have a question about investing or when you’ll need customer service assistance.

Another thing to look for in a brokerage account is transparency when it comes to fees. Ally’s fees are simple: $4.95 per trade, and if you have a balance of more than $100,000 or trade more than 30 times per quarter, it drops to $3.95 per trade.

What a Good Beginner Trading Platform Looks Like

Ally Invest Review

This is the home dashboard on Ally’s site. It’s where you’ll place all of your trades, see your transaction history, get market updates, and contact customer service. Basically, it’s your all-in-one investment platform.

It’s super easy to use and highly customizable.

The Next Steps

So there you have it. Ally Invest is the best online brokerage account for beginners.

Once your account is open, the next step is to decide how to invest your money. This quick reference below shows you just how easy it is to buy stocks.

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