If you’re a beginner investor, you may need useful but affordable advice and learning materials. The best thing for you to do these days is getting yourself a quality online investment broker.
In the days long past, a broker was a professional you had to hire to handle your portfolio for you and make trades on your behalf. With modern-day technology, there are more affordable solutions such as Robo-advisors and brokerage software.
Since there are so many such apps and Robo-advisor services available, you’ll need to find one that is right for you. One of the most important things – especially for beginners – is the types of learning materials you will get and the access to any assistance you need. These materials should include free research reports, premium “trial” or “practice” trades to help you get used to the platform, stock picks, video tutorials, and so forth.
There are also commissions. The good thing about an online investment broker is that you won’t have to pay a lot of money like you would with a regular broker. Plus, the commissions and fees will be considerably cheaper. The commissions and fees will vary from one online broker to the next. For stocks, the cost might be one cent per share ($1 minimum).
Online Investment Broker With the Ideal Platform
The ideal platform should offer more trading options than stocks, such as mutual funds, bonds, options, ETFs, and so forth. Remember that you might have to have a minimum balance in the account when you open it up.
Be aware of “inactivity fees” that some online brokerage firms might try to charge you. These are common, unfortunately. Ideally, it would be best if you looked for one of the few web or app-based investment brokers that do not charge for account inactivity.
Imagine having broker-assisted trades without having to pay any money. This option is scarce. There is still an online investment broker company or two that will allow you to chat with an actual broker without paying any additional fees. However, you might have to wait until regular business hours to get through to customer service.
Where can you find this kind of service that offers free broker-assisted trades, no inactivity fees, low-cost trading, and useful learning materials? One online investment broker that offers all of these is Zacks Trade. There are three trading platforms, including both Windows-based and smartphone apps.