With several stock brokers that have been seen over the past years, choosing the right online stock broker to suit your specific needs is crucial. Whether you’re a seasoned investor or a complete beginner, this platform will be your gateway to the market.
In this article, you will see how you can spot the best stock broker online. Paycape has researched the top stock brokers online to help you choose the best of the best. We’ve considered factors like fees, educational resources, and customer support which is especially for beginners.
What Does an Online Stock Broker Do?
Firstly, let’s briefly discuss what online stocker brokers do, at least for the sake of the beginners here. Stock brokers are usually individuals or firms that buy and sell stocks, and other securities through the market exchange. What online stock brokers simply do is that they ease the burden of having to walk into a firm. With your smart gadgets, you can choose an online stock broker from the comfort of your home and invest in the stock of your choice.
Online stock brokers also often charge less for their services, at least for their basic service plan. This plan usually includes a robo-advisor that automates the buying and selling process, free educational resources, etc.
If you are wondering why you can’t buy stocks directly for yourself from your desired firm, it is because you need access. Buying or selling stocks requires one to have access to one of the major exchanges, such as the New York Stock Exchange (NYSE). It is also important that you are a member of the exchange to enable you to trade.
That being said, let us look at some of the best online stock brokers in 2024 that are best suited for all types of investors, based on key factors like customer support, account minimums, and educational resources.
What are the Best Online Stock Brokers?
After doing thorough research for the best online stock brokers, the following are the top stock brokers to use in 2024.
- Fidelity Investment
- Interactive Broker
- Charles Schwab
Fidelity Investment
From our research, we did not only find Fidelity Investment as a top online stock broker but also widely used and highly rated by several users. Fidelity Investment is a user-friendly web-based trading platform where you will likely find all the tools you will need, such as screeners, wide-ranging educational content, and in-house and third-party research.
When it comes to fees, they often skip several charges that you will often see in other brokers. Additionally, order flow – the process by which brokers route your orders to market centers in exchange for a referral fee – does not accept payment. Their customer service is also very prompt, 24/7.
You can read more about Fidelity Investment on their website.
Interactive Broker
Following Fidelity Investment is the Interactive Broker. Interactive Brokers is a long-time favorite to many traders because of its rock-bottom commissions and fees, a staggering range of tradable products, and powerful platform and tools. They offer their Lite pricing plan with more than 19,000 no-transaction-fee mutual funds available.
Interactive Brokers comes with a pack of educational resources that include how-to articles, webinars, and a training course. As regards their customer service, you can get questions answered over the phone or through a chat system 24/7, Monday through Friday, and limited hours on Sunday.
One other major strength is its access to global markets, it allows you to trade in 150 markets in 200 countries. You can read more about them on their website.
Charles Schwab
Charles Schwab is another discount broker that comes with a full range of features, making it easy to grow from a beginner into a confident investor. Besides its great educational material for beginners to learn the fundamentals of investing, it also offers stock reports. Their report includes Morningstar reports and news from Reuters.
Schwab offers up to a $1,000 bonus with a referral code from a friend and a qualifying deposit. Additionally, the broker offers fractional shares through Schwab Stock Slices, which lets you buy partial shares of stock for as low as $5.
Schwab customer service through chat and email support is, like others, reliable, with fast and helpful responses. You can read more about them on their website.
You can check out other great online stock brokers, such as:
- E*TRADE
- J.P.Morgan
- Ally Invest®
- Robinhood
- XTB: for EU plus US stock. You can also invest in cryptocurrency.
What Online Stock Broker Should I Pick?
The brokerage you choose depends upon your own investment needs and goals. When it comes to online stock brokers, there’s no one-size-fits-all approach. You can always do your research to know which one best suits you.
For instance, you might want to try online brokerages like Fidelity or Charles Schwab if you’re searching for personalized assistance. However, E*Trade or Robinhood might be your best option if all you’re looking for is an easy-to-use broker.
We all have different approaches to handling our money and our investment approaches differ as well. These factors include our future and even present goals, the time we have until retirement, and our lifestyle expectations.
And lastly, you must consider certain other factors when choosing your online stock broker. Factors like the money you have to invest, the assets you are looking to buy, your technical needs, how many services you’ll need, etc.
How Do I Get Started With Online Stock Brokers?
After you have selected your preferred stock broker online, then you are ready to get started. You can follow the steps below to get started:
- Open an account: Choose a platform that best fits your needs, visit their official website, and create a profile. Ensure you correctly fill in all details required of you.
- Fund your account: Once you create an account and its approval, deposit funds into it, either through your bank or any other accepted means.
- Get familiar with the platform: If the platform provides a demo account, you can use that to get acquainted with the platform. Get acquainted with its features, such as stock, charting capabilities, and order types. You can use the educational resources and tutorials too.
- Research and select stocks: We advise that before buying a stock, ensure you do your research about it. Check for company fundamentals and trends, and recommendations by experts.
- Place an order: When you are sure about the stock, enter the symbol of the company you wish to buy, select the number of shares, and choose the order type.
After following the steps above and your order is carried out, you then become a shareholder of the company. Make sure you monitor your investments and remain up to date on market events that could impact your stock holdings.
Bottom Line
The online stock brokers on this list are excellent choices whether you’re a novice investor or an experienced trader looking to minimize commission costs and increase your return on investment. Each offers unique features, from user-friendly platforms to comprehensive educational and rock-bottom commissions.
With the details on each platform mentioned, coupled with your research, you are good to begin your investment ride. For other online investment strategies, you can check our article on how you can invest in Gold and real estate or how you can make money online without any investment.
However, if you’re looking for a more gamified approach to learning about the stock market, just for the fun of it, you can check out our article on investing in the in-game stock market of Grand Theft Auto 5. Check out our guide to GTA 5 Stock for tips and tricks to maximize your returns in-game
Frequently Asked Questions
Which broker is best for stock trading in Nigeria?
There are several brokers that you can use for stock trading in Nigeria and choosing the best might be a little tussle. Some of the best ones are Exness, FBS, VoyaFX, and Pepperstone.
You can also check the Nairametrics lists of stockbrokers that deal with the Nigerian stock exchange.
How much money do I need to open an online brokerage account?
With most of the platforms, you don’t need to break the bank to open a brokerage account. Online brokerages have made it easy and affordable to get started with minimal capital. You can always check out any brokerage you are interested in for their minimum capital amount.
Now you can create an account, deposit a few bucks, and purchase a fraction of a share of stock. You can also practice investing without spending any money by using a broker that offers virtual trading, often known as paper trading.
What is a paper trading account?
A paper trading account is a demo investing account that allows customers to select investments without risking their real money. The account monitors the general market and shows users how their money would have been if they had invested.
4 Comments
Your comment is awaiting moderation.
Nice read, I just passed this onto a colleague who was doing some research on that. And he actually bought me lunch as I found it for him smile Therefore let me rephrase that: Thanks for lunch!
Your comment is awaiting moderation.
Hmm it appears like your website ate my first comment (it was extremely long) so I guess I’ll just sum it up what I wrote and say, I’m thoroughly enjoying your blog. I as well am an aspiring blog writer but I’m still new to everything. Do you have any suggestions for beginner blog writers? I’d certainly appreciate it.
Your comment is awaiting moderation.
As I website owner I believe the subject matter here is real wonderful, thankyou for your efforts.
Your comment is awaiting moderation.
What i do not understood is if truth be told how you are now not actually a lot more well-favored than you may be right now. You are very intelligent. You realize therefore significantly in terms of this topic, produced me for my part consider it from so many varied angles. Its like women and men are not fascinated unless it’s one thing to accomplish with Girl gaga! Your own stuffs great. Always handle it up!
Your comment is awaiting moderation.
I have been browsing on-line more than 3 hours nowadays, but I never found any interesting article like yours. It¦s pretty value enough for me. In my view, if all website owners and bloggers made just right content as you did, the internet will be a lot more useful than ever before.
Your comment is awaiting moderation.
Oh my goodness! a tremendous article dude. Thanks However I’m experiencing concern with ur rss . Don’t know why Unable to subscribe to it. Is there anyone getting identical rss downside? Anyone who is aware of kindly respond. Thnkx
Your comment is awaiting moderation.
Hello, i think that i noticed you visited my website so i came to “go back the prefer”.I am attempting to find issues to enhance my site!I guess its good enough to make use of some of your ideas!!
Your comment is awaiting moderation.
Most of the things you say happens to be astonishingly legitimate and it makes me ponder the reason why I hadn’t looked at this in this light before. This particular article really did switch the light on for me personally as far as this specific subject matter goes. Nevertheless there is actually one particular issue I am not too comfy with and whilst I try to reconcile that with the central theme of the point, allow me see exactly what the rest of your visitors have to say.Well done.
Your comment is awaiting moderation.
I went over this website and I think you have a lot of great information, saved to fav (:.
Your comment is awaiting moderation.
Whats up are using WordPress for your blog platform? I’m new to the blog world but I’m trying to get started and create my own. Do you need any coding knowledge to make your own blog? Any help would be greatly appreciated!
Your comment is awaiting moderation.
We absolutely love your blog and find nearly all of your post’s to be just what I’m looking for. Do you offer guest writers to write content to suit your needs? I wouldn’t mind publishing a post or elaborating on a lot of the subjects you write regarding here. Again, awesome site!
Your comment is awaiting moderation.
Hey I am so glad I found your website, I really found you by accident, while I was researching on Google for something else, Anyhow I am here now and would just like to say thanks for a remarkable post and a all round enjoyable blog (I also love the theme/design), I don’t have time to go through it all at the minute but I have book-marked it and also added your RSS feeds, so when I have time I will be back to read a lot more, Please do keep up the awesome job.
Your comment is awaiting moderation.
Hello my family member! I want to say that this post is amazing, great written and include almost all vital infos. I’d like to look more posts like this .
Your comment is awaiting moderation.
WONDERFUL Post.thanks for share..more wait .. …
Your comment is awaiting moderation.
Howdy! I know this is kinda off topic but I was wondering which blog platform are you using for this site? I’m getting sick and tired of WordPress because I’ve had issues with hackers and I’m looking at alternatives for another platform. I would be fantastic if you could point me in the direction of a good platform.
Your comment is awaiting moderation.
Hi, i feel that i saw you visited my site so i got here to “go back the prefer”.I’m attempting to to find things to enhance my site!I assume its ok to make use of a few of your ideas!!
Your comment is awaiting moderation.
Have you ever considered about including a little bit more than just your articles? I mean, what you say is fundamental and everything. Nevertheless think of if you added some great images or video clips to give your posts more, “pop”! Your content is excellent but with pics and video clips, this website could undeniably be one of the greatest in its field. Very good blog!
Your comment is awaiting moderation.
Those are yours alright! . We at least need to get these people stealing images to start blogging! They probably just did a image search and grabbed them. They look good though!
Your comment is awaiting moderation.
Pretty! This was a really wonderful post. Thank you for your provided information.
Your comment is awaiting moderation.
Thank you for the sensible critique. Me and my neighbor were just preparing to do some research about this. We got a grab a book from our local library but I think I learned more from this post. I’m very glad to see such excellent information being shared freely out there.
Your comment is awaiting moderation.
Have you ever considered creating an ebook or guest authoring on other sites? I have a blog based on the same subjects you discuss and would really like to have you share some stories/information. I know my subscribers would enjoy your work. If you are even remotely interested, feel free to shoot me an e-mail.
Your comment is awaiting moderation.
I’ve been absent for a while, but now I remember why I used to love this website. Thank you, I¦ll try and check back more often. How frequently you update your web site?
Your comment is awaiting moderation.
Great amazing things here. I?¦m very glad to see your article. Thank you so much and i am having a look ahead to contact you. Will you kindly drop me a mail?
Your comment is awaiting moderation.
Aw, this was a really nice post. In idea I would like to put in writing like this moreover – taking time and actual effort to make an excellent article… however what can I say… I procrastinate alot and in no way appear to get one thing done.
Your comment is awaiting moderation.
hello!,I love your writing very so much! percentage we keep in touch extra about your post on AOL? I require a specialist on this house to solve my problem. Maybe that is you! Taking a look ahead to peer you.
Your comment is awaiting moderation.
I’ve been absent for a while, but now I remember why I used to love this site. Thanks , I’ll try and check back more often. How frequently you update your web site?
Your comment is awaiting moderation.
You are my intake, I possess few blogs and infrequently run out from to post .
Your comment is awaiting moderation.
A person essentially help to make seriously posts I would state. This is the very first time I frequented your website page and thus far? I amazed with the research you made to create this particular publish incredible. Excellent job!
Your comment is awaiting moderation.
Great – I should certainly pronounce, impressed with your website. I had no trouble navigating through all tabs and related information ended up being truly easy to do to access. I recently found what I hoped for before you know it in the least. Quite unusual. Is likely to appreciate it for those who add forums or something, site theme . a tones way for your customer to communicate. Excellent task.
Your comment is awaiting moderation.
I like what you guys are up also. Such smart work and reporting! Keep up the excellent works guys I’ve incorporated you guys to my blogroll. I think it’ll improve the value of my website :).
Your comment is awaiting moderation.
I truly appreciate this post. I have been looking everywhere for this! Thank goodness I found it on Bing. You have made my day! Thx again
Your comment is awaiting moderation.
I am not really wonderful with English but I get hold this real leisurely to read .
Your comment is awaiting moderation.
I as well believe thence, perfectly written post! .
Your comment is awaiting moderation.
you have got a great weblog right here! would you wish to make some invite posts on my weblog?
Your comment is awaiting moderation.
Perfectly indited subject matter, Really enjoyed reading.
Your comment is awaiting moderation.
Would you be concerned with exchanging hyperlinks?
Your comment is awaiting moderation.
Rattling superb visual appeal on this website , I’d value it 10 10.
Your comment is awaiting moderation.
My brother recommended I might like this website. He was entirely right. This put up actually made my day. You can not imagine just how a lot time I had spent for this information! Thanks!
Your comment is awaiting moderation.
I reckon something genuinely special in this site.
Your comment is awaiting moderation.
What i don’t realize is in reality how you’re now not really much more smartly-favored than you might be right now. You are so intelligent. You know thus significantly when it comes to this subject, produced me individually believe it from so many various angles. Its like men and women aren’t fascinated except it is something to do with Lady gaga! Your personal stuffs excellent. At all times deal with it up!
Your comment is awaiting moderation.
Hello my friend! I want to say that this post is awesome, nice written and include almost all significant infos. I would like to see more posts like this.
Your comment is awaiting moderation.
Some truly marvelous work on behalf of the owner of this web site, absolutely great content material.
Your comment is awaiting moderation.
Excellent read, I just passed this onto a colleague who was doing some research on that. And he actually bought me lunch since I found it for him smile So let me rephrase that: Thank you for lunch!
Your comment is awaiting moderation.
Greetings! I know this is kinda off topic but I’d figured I’d ask. Would you be interested in trading links or maybe guest writing a blog article or vice-versa? My website goes over a lot of the same subjects as yours and I think we could greatly benefit from each other. If you’re interested feel free to send me an email. I look forward to hearing from you! Wonderful blog by the way!
Your comment is awaiting moderation.
Hello! Quick question that’s totally off topic. Do you know how to make your site mobile friendly? My site looks weird when viewing from my iphone. I’m trying to find a template or plugin that might be able to resolve this issue. If you have any recommendations, please share. Many thanks!
Your comment is awaiting moderation.
Very interesting points you have remarked, thanks for putting up. “Great is the art of beginning, but greater is the art of ending.” by Henry Wadsworth Longfellow.
It?¦s really a nice and useful piece of info. I?¦m glad that you just shared this useful information with us. Please stay us up to date like this. Thank you for sharing.
Your comment is awaiting moderation.
Great write-up, I am regular visitor of one’s blog, maintain up the nice operate, and It is going to be a regular visitor for a lengthy time.
Your comment is awaiting moderation.
Glad to be one of many visitants on this awing internet site : D.
Your comment is awaiting moderation.
An interesting discussion is worth comment. I think that you should write more on this topic, it might not be a taboo subject but generally people are not enough to speak on such topics. To the next. Cheers
Your comment is awaiting moderation.
Hmm it looks like your blog ate my first comment (it was super long) so I guess I’ll just sum it up what I wrote and say, I’m thoroughly enjoying your blog. I too am an aspiring blog writer but I’m still new to everything. Do you have any helpful hints for beginner blog writers? I’d really appreciate it.
Your comment is awaiting moderation.
Merely wanna input on few general things, The website style and design is perfect, the subject matter is rattling good. “I delight in men over seventy. They always offer one the devotion of a lifetime.” by Oscar Fingall O’Flahertie Wills Wilde.
Your comment is awaiting moderation.
It¦s really a nice and helpful piece of info. I am happy that you simply shared this useful info with us. Please keep us informed like this. Thanks for sharing.
Your comment is awaiting moderation.
fantastic points altogether, you just gained a new reader. What would you suggest in regards to your post that you made a few days ago? Any positive?
Your comment is awaiting moderation.
It’s really a nice and useful piece of info. I’m glad that you shared this helpful information with us. Please keep us up to date like this. Thanks for sharing.
Your comment is awaiting moderation.
TOPSEO | Skaitmeninės rinkodaros agentūra Lietuvoje. Interneto svetainės reklama. Auditas. SEO optimizavimas. Efektyvūs darbuotojai
Your comment is awaiting moderation.
Hello there! Do you know if they make any plugins to safeguard against hackers? I’m kinda paranoid about losing everything I’ve worked hard on. Any tips?
Your comment is awaiting moderation.
Thank you for every one of your labor on this blog. My niece loves working on investigation and it is simple to grasp why. A lot of people hear all about the lively way you convey good tips and tricks through this website and cause participation from other ones on that article plus our child is actually understanding a whole lot. Take pleasure in the rest of the year. You are always conducting a wonderful job.
Your comment is awaiting moderation.
Hi, I think your site might be having browser compatibility issues. When I look at your website in Safari, it looks fine but when opening in Internet Explorer, it has some overlapping. I just wanted to give you a quick heads up! Other then that, fantastic blog!
Your comment is awaiting moderation.
Your style is so unique compared to many other people. Thank you for publishing when you have the opportunity,Guess I will just make this bookmarked.2
Your comment is awaiting moderation.
This is a very good tips especially to those new to blogosphere, brief and accurate information… Thanks for sharing this one. A must read article.
Your comment is awaiting moderation.
I really appreciate this post. I have been looking everywhere for this! Thank goodness I found it on Bing. You have made my day! Thx again
Your comment is awaiting moderation.
Good write-up, I’m regular visitor of one’s site, maintain up the nice operate, and It is going to be a regular visitor for a long time.
Your comment is awaiting moderation.
Simply wanna comment on few general things, The website pattern is perfect, the subject matter is real excellent. “To establish oneself in the world, one has to do all one can to appear established.” by Francois de La Rochefoucauld.
Your comment is awaiting moderation.
I’ve been absent for a while, but now I remember why I used to love this site. Thanks, I’ll try and check back more often. How frequently you update your website?
Your comment is awaiting moderation.
Great V I should definitely pronounce, impressed with your site. I had no trouble navigating through all tabs as well as related information ended up being truly simple to do to access. I recently found what I hoped for before you know it in the least. Reasonably unusual. Is likely to appreciate it for those who add forums or something, website theme . a tones way for your customer to communicate. Nice task..
Your comment is awaiting moderation.
I just couldn’t leave your web site before suggesting that I actually loved the usual info an individual supply in your visitors? Is going to be back continuously in order to check up on new posts
Your comment is awaiting moderation.
I am not really great with English but I line up this real leisurely to read .
Your comment is awaiting moderation.
I like what you guys are up also. Such smart work and reporting! Carry on the excellent works guys I have incorporated you guys to my blogroll. I think it’ll improve the value of my website 🙂
Your comment is awaiting moderation.
I conceive this site has some very superb info for everyone. “Philosophy triumphs easily over past evils and future evils but present evils triumph over it.” by La Rochefoucauld.
Your comment is awaiting moderation.
wonderful points altogether, you simply gained a new reader. What would you suggest in regards to your post that you made a few days ago? Any positive?
Your comment is awaiting moderation.
I’ve recently started a website, the info you provide on this site has helped me greatly. Thanks for all of your time & work.
Your comment is awaiting moderation.
I will right away grasp your rss as I can not find your e-mail subscription hyperlink or e-newsletter service. Do you have any? Please let me recognize so that I may subscribe. Thanks.
Some truly interesting points you have written.Helped me a lot, just what I was searching for : D.
This was a very informative read. Thank you Akeem!
Thank you!
I’m glad you found it informative. You can also follow our social media platforms or subscribe to our mail list, for more content on finance.