If you want to do some online trading but don’t have much money to open up an account, there are still platforms available to you. There might not be any fees to worry about, and if there are, they will be minimal and reasonable. Diversification is a simple process when you sign up with the best online broker for small investors. Just make sure you sign up for one that has various trading options, including stock, ETFs, Options, and more.
Some will even let you trade crypto-currency if that is something you are interested in. Opening your very own brokerage account doesn’t have to be difficult as long as you have the right tools and resources to help you. Different brokerage account types should be available to suit every investor and help you achieve your objectives.
To help you get started, here are a few apps and platforms to look into for the best online broker for small investors:
M1 Finance
This broker is a good choice for those interested in automated account management. You can borrow, invest, and spend in one place. M1 Finance allows users to set their strategies, decide which investments they want to make, and automate everything accordingly. There are a Basic Account and a Plus Account for those who wish additional benefits.
TD Ameritrade
TD Ameritrade is one of the more well-known trading apps. It offers leading tools to help traders become better, smarter investors. There are $0.00 platform fees, commissions, data fees, or even trade minimums. It’s easy to get started. The only potential downside is a broker-assisted fee. But with the learning materials the platform offers, you might not need broker-assisted fees anyway.
Acorns
This broker deserves a spot on the best online broker for small investors list. Acorn does a good job of merging the Robo-advisor strategy with an automated savings tool, allowing users to build a nest egg more easily. However, there are some flat fees (even though they are low), which can be a pro or con depending on your account balance. If you plan on having a lower account balance, weigh in the fees with the potential benefits.
Webull
While it might not yet be as widely known as the others on this list, Webull is quickly becoming the best online broker for small investors – or any regular investor for that matter. It’s especially a good choice for those who are interested in a commission-free platform and short selling. There are no commission fees, software fees, or account fees. On top of that, Webull offers margin without a subscription requirement, unlike other platforms that require a Gold or Plus membership.