Best online brokerage account for beginners

Best Online Brokerage Account for Beginners

Do you want to make some ‘extra bucks’? Or perhaps you need some extra cash to supplement your hourly wage? Investing is one of the best ways to grow your money without exerting so much energy and time. Let’s try to find the best online brokerage account for beginners.

However, if you are new to investing, there’s a chance you’re finding some things quite difficult to comprehend. Well, the good news is that online brokerage accounts will help you simplify the process, so you’re set to begin investing in no time.

What is a Brokerage Account?

Brokerage accounts are a type of investment account mainly used to purchase mutual funds, stocks, bonds, ETFs, and other available investments. These accounts can come in several forms, including tax-advantaged retirement and traditional taxable accounts.

Are you still unsure where to start? There’s no worry. Here is a summary of the best online brokerage account for you as a beginner.

Overview of the Best Online Brokerage Account for Beginners

WebullNo recurring fees or commissions
You InvestIn-person support
FidelityRetirement Investing
Brokerage Accounts | Pros


Is Webull the Best Online Brokerage Account for Beginners ?
Is Webull the Best Online Brokerage Account for Beginners ?

Webull is a new brokerage with no account minimums and no commissions for any trades. It supports commodities like stocks, options trades, and ETF. While some might consider it a set of limited investment options, it’s a good start for a beginner.

Another reason a beginner might prefer a Webull brokerage account is the reduced risk level associated with it. Since it has no trade fees, it’s a perfect place to learn the ropes while growing your expertise.


  • Webull does not charge any commission for buying and selling its commodities.
  • Active traders will have to pay a margin for borrowing and subscriptions to high-end data services.
  • As a beginner, you won’t need any of the advanced trading methods. You won’t have to pay any additional fees for regular activities.

Available commodities

  • Webull brokerage accounts can trade options, stocks, and ETF’s.
  • According to updates from their website, the option to invest in cryptocurrencies will soon be available.
  • This, of course, is with the planned support of Ethereum, Bitcoin, Litecoin, and Bitcoin Cash.

Ease of use

After analyzing other advanced brokerage accounts and trading tools out there, we don’t consider Webull as the most manageable brokerage account to use.

But there’s no need to rush things. If you’re willing to spend some time learning to navigate the platform, you’ll discover that it’s relatively straightforward and straightforward to enter trades.

You Invest

You Invest - Home page

Although You Invest is a new brand name, the mind behind it is J.P. Morgan chase, one of the oldest and largest financial institutions in America.

Like the others, “You Invest” is an online brokerage. But if you’re experiencing any difficulty navigating the platform, you can always stop by any of Chase’s over 4500 branches to ask some basic questions.


  • Like Webull, You Invest charges no commission for ETF trades or online stocks.
  • It also has no recurring charges for regular account activity.
  • However, when the account has a managed portfolio, you’ll need a minimum balance of $500 and pay an annual fee of 0.35%.

Available Commodities

Self-directed “You Invest” accounts can trade;

  • ETF’s,
  •  Mutual funds,
  • Stocks
  • Options
  • Fixed income investments (bonds).

Ease of Use

  • You Invest relatively easy to use and navigate.
  • It integrates with your bank loan and credit card accounts to give you the best experience on the dashboard.


Fidelity - About us

Fidelity is one of the largest brokerage firms in the U.S, is known for its low fee investment funds. An added plus to it is that it helps investors reach a successful retirement.

As a beginner, you will enjoy the various features designed to help you invest on a long-term basis.


  • When it comes to pricing for retirement investments, fidelity easily ranks as one of the best.
  • In addition to stocks and ETF’s, you can trade Fidelity’s mutual funds at no cost.
  • Fidelity was the first brokerage account to come out with mutual funds that have a zero expense ratio. Do you know what this means? No annual funds and fees.

Available commodities

  • You can trade almost all the popular investment commodities on this platform.
  • It also supports foreign exchanges and international stocks, including forex commodities.
  • There are over 3500 commission-free mutual funds that you can invest in.

Ease of Use

  • Fidelity is excellent for beginners.
  • You can easily navigate, understand, and use.
How To Pick An Online Brokerage Account For Beginners | October 2020

Why you need a Brokerage Account

Every adult out there needs a brokerage account. Without a brokerage account, it becomes impossible to invest in stocks, mutual funds, ETF’s, and bonds. 

While you may get your first brokerage account through your employer, it’s essential to save and invest outside work. Read here: How much money do stockbrokers make?
Which of the above would you vote as the Best Online Brokerage Account for Beginners?