Choosing a brokerage to start investing with might seem scary, but it’s not. At the end of the day, with any brokerage account, it can be closed and you can move your money to somewhere else.
It is obviously better to get it right first time, so I have complied my experiences with a few well known brokerage account providers and here are my opinions on how well they perform, and who they are best suited to.
Our #1 pick for a stock trading/investing brokerage account comes from eToro. It is the most well rounded account, with investor education centres, CopyTrader accounts, and in app company analysis tools. It is perfect for traders & investors of all ability.
You can check out my full review of eToro here. Or check out their platform for yourself using the button below.
When it comes to eToro, everything is at your fingertips, education, trade ideas, investing portfolios, and live new updates. They serve 6 million investors worldwide, and they are a 10 out of 10 from me.
Broker Best for Beginners
If you’re a beginner who wants something low maintenance and easy to use, I would head over to M1 Finance.
They offer a range of services like fully automated pension accounts, custom built portfolios for you to copy, and automatic DRIP capabilities. You can also turn all of this off and go it alone.
M1 Finance is also completely free, no commissions and no trading fees. It is the perfect blend of robo-investing and personal investing. You can do as much or as little as you want on M1 Finance. You can even select to invest in an identical portfolio as Warren Buffett.
The mobile app is available on all smart phones, and is really easy to use. To see my full review of the M1 Finance platform you can click the button below:
Or if you want to find out more from M1 Finance you can follow this link to their website.
Broker Best for Active Traders
The term active trade is generally used for someone who trades securities in short periods of time, only having a position open for days or weeks at a time. They look to capitalise on short term gains.
Trading 212 is perfect for active trades because of its unlimited amount of free trades. The platform allows user to trade over 1300 symbols, and this is growing everyday. Live news updates are available in app, and trades are executed with perfect precision.
Trading 212 has a lot of benefits, I have listed a few below:
- It is 100% free
- It is available worldwide
- It is easy to use and caters for investors of all levels
- You can invest in fractional shares
- You can choose from a variety of accounts including an invest account, CFD account, or ISA account.
If you are more of an active trader, you might be more interested in the CFD account so you aren’t racking up high capital gains tax bills, but to if you plan to hold stocks long term the invest account will be fine. I have done a comprehensive review of Trading 212 here.
Broker Best for Advanced Investors
Personally I use Trading 212 and eToro for most of my holdings, just because they are easy to use, and I don’t have open multiple research sites because the information is on the apps.
But if you are an advanced investor and are looking too perfect your method, Webull might be the best bet for you.
Webull is by far the most advanced platform. It has a full library of analysis tools, live news updates, and extensive analysts reports. But all of this can be daunting to look at, so feel free to open an account and test it out, after all it is also 100% free.
If you want more information, you can check out my full review of Webull here.
As I mentioned before I use Trading 212 and eToro, so don’t feel like you need to constrain yourself to one broker.
It might be a good idea for you to open accounts with multiple brokers and use them for what they are good at. For example, open an M1 Finance account for your pension fund, then have a Trading 212 account for long term stocks, and an eToro account for short term trades.
All the brokers on this page are free, they all bring something different to the table, and no matter where you go to buy stocks, there is always a risk involved.
Whatever you choose to do, please let me know what you thought of the platforms and your experience with them. Pain Free Investing has a mission to inform investors on topics that affect their money… Picking a broker is one of those topics.