When you are new to getting started in how to invest in the stock market, one of the very first questions you’ll have is which are the best online brokers for beginners?

online-stock-brokers-for-beginnersThere are many different online brokers and each offers various things that can help you with trading stocks in the market. Today I’m going to help you decide which online stock broker is going to be the best one for you because there are many factors in choosing a stock market broker, such as how much you have to invest, what type of investing strategies you wish to use, and your own personal financial situation.

My Personal Favorite Online Stock Brokers

There are thousands of brokers out there, but there are only two that I personally have used and would recommend. You may or may not like them as much as I do, but they are definitely worth checking out.

These two brokers are eTradePro and SureTrader.

So let’s go over why I recommend these two online stock brokers, as well as some tips to help you decide on which one is the right choice for you.

Now, before you jump into either of these programs, you need to know some very important things before you start. Depending on the amount you are going to invest and how often you plan on making trades – you could potentially get your account shut down due to Day Trading Pattern Laws.

This was one of my first mistakes when I started researching online stock brokers. I wanted to go with a cheap broker {thinking it would save me money} – only to realize there were laws, regulations, and a multitude of other issues that was holding me back from being able to trade in real time.

If you have over 25,000 to invest in the stock market as a beginner – $25,000 which you are willing to lose every single cent – then eTradePro is for you. This is the only way you won’t be limited by the amount of trades you can make each day. If you sign up with eTradePro with only a few thousand dollars, you can only make a limited amount of trades because of the Day Trading Pattern Laws.

If you do not have $25,000 to invest {and as a beginner probably shouldn’t be willing to risk that entire amount anyways} – This is where SureTrader comes in, and they are a very good and reputable online stock broker you can use.

Here are the benefits of SureTrader as an Online Broker For Beginners:

Their Trading Platform and Online User Interface

It’s sleek, professional looking, and easy to use. You’re not going to waste time trying to find your way around the site or have your eyes cringing at ugly colors.

You Only Need $500 to Start

It’s Easy to Transfer Money In and Out of the Account: There have been various brokers I’ve used that hold your money up for days. SureTrader makes it super easy to get your money in, get your money out.

No Pattern Day Trading Restrictions

This means you can make as many trades as you’d like without limitations and your account being frozen, which is exactly what would happen to you in eTradePro or any other American stock market online broker for that matter.

SureTrader is a Swiss Bank Account {don’t be scared by that!} I have done plenty of business with them and had no problems. The only thing you need to be aware of is that before you transfer money to them that you need to let your bank know you will be depositing money in an account out of the country otherwise your bank may put a freeze on your account because they want to make sure you are authorizing a transaction to the Bahamas.

You Can Put Money in With a Credit Card

You don’t need to wire transfer – just use your bank card. This is extremely convenient and easy, because there are some brokers that require you to drive down to your bank, fill out paperwork, wire transfer money – all that can cost you time and lead to delays which can cost you money.

You Can Create a Margin Account

Margin Accounts are something you won’t jump into right away as a new investor, but it’s nice to have the option available to you. A margin account works like this: Let’s say you put $500 in your account. SureTrader gives you a 6 to 1 ratio, giving you essentially $3000 to trade with. There are a lot of risks with margin accounts, but it’s also an option that’s available to you.

{Learn More About Margin Accounts and Their Risks Here}

There are many, many online stock brokers for you to use. But if you are new to stock investing and trading, going with one of these online stock brokers is the way to set yourself up with a solid foundation in the very beginning with a trustworthy broker where you don’t have to worry about your money disappearing overseas.

It may seem I am biased towards these two trading platforms, but honestly, it is only because of how many I have personally used and tried. I researched over 30 of the top online broker companies, and even had a few bad experiences with a few. This site is free – I’m not trying to sell you on anything in particular because I know everyone is different and you really need to do what works best for you. My hope is if you are a stock market beginner looking for an online broker, this will save you time, save you frustration, and that by learning from my mistakes you will be able to at least try out your trading strategies and get started in the stock market easily.

What are your thoughts and experiences? Join the discussion below!