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To find the best online brokers for beginners in the United States in 2020, we went ahead and did the research for you. We made interviews with newbies, without any trading experience. We tested 77 brokers and 5 made it to the top. They confirmed these top 5. And now without further ado...

The best online brokers for beginners in the United States in 2020 are:

  1. Robinhood is the best broker for beginners in the United States in 2020. Free US stock and ETF trading. Great mobile and web trading platforms. Fast and fully digital account opening.
  2. Webull is the runner-up. Free stocks, ETFs and options. Fast and easy account opening. Great trading platforms.
  3. eToro is placed number three. Free stock and ETF trading . Seamless account opening. Social trading experience.
  4. E*TRADE is number four. Low trading fees (free stock and ETF trading). User-friendly mobile trading platform. Great research tools.
  5. TD Ameritrade made it to the best broker for the beginner list. Low trading fees (free stock and ETF trading). Superb desktop trading platform. Great customer support.
Best brokers for beginners in the United States in 2020
Broker Info Best in
#1 Robinhood US zero-fee discount broker Best broker for beginners
#2 Webull US discount broker
#3 eToro Global social trading broker Best broker for cryptos
#4 E*TRADE US stockbroker
#5 TD Ameritrade US-based stockbroker Best desktop trading platform

What makes a good broker for beginners? Two things above all: keep it simple and guide the client. The trading platform needs to be clean, and understandable. Fair fees are also important (learn more about brokerage fee here). Have great educational tools, like a demo account, provide webinars or courses. It must be easy to open an account and deposit.

Easy to list, but hard to figure it out. We are testing brokers along more than 100 criteria with real accounts and real money. We know what's up.

Not sure which broker? For a tailored recommendation, check out the broker finder tool. You can enter your country and it will show only the relevant brokers. Want more details? Compare brokers with this detailed comparison table.

And now, let's see the best online brokers for beginners in the United States in 2020 one by one. Starting with the winner, Robinhood.

Robinhood Logo

#1 Best broker for beginners
Robinhood

4.6

Robinhood is a US-based, zero-fee discount broker established in 2013. The company is regulated by top-tier financial authorities, such as the US Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).

Besides the brokerage service, Robinhood also introduced Cash Management to help clients earn interest on uninvested funds. Click here for more details on this great and unique service.

BrokerChooser is committed to bringing high transparency and clarity to its customers, including brokers and partners. BrokerChooser's Advertiser Disclosure.

Recommended for beginners and buy-and-hold investors focusing on the us stock market

Pros Cons
Free US stock and ETF trading Limited product range
Great mobile and web trading platforms Weak customer support
Fast and fully digital account opening Few educational materials

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#1 Robinhood
Web trading platform
4.5

Robinhood provides a safe, user-friendly and well-designed web trading platform. On the downside, customizability is limited.
Pros Cons
User-friendly Limited customizability (for charts, workspace)
Clear fee report
Two-step (safer) login
Best brokers for beginners - Robinhood trading platform
Robinhood trading platforms
Robinhood Webull eToro E*TRADE TD Ameritrade
Web platform score 4.5 stars 4.5 stars 4.4 stars 4.5 stars 4.3 stars
Mobile platform score 5.0 stars 5.0 stars 4.9 stars 4.5 stars 4.8 stars
Desktop platform score - 4.5 stars - - 4.5 stars

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#1 Robinhood
Fees
4.8

Trading US stocks and ETFs is free at Robinhood. The broker doesn't charge an inactivity or withdrawal fee.
Pros Cons
Commission-free US stock and ETF trading None
No fee for deposit or withdrawal
Transparent fee structure
Robinhood fees
Robinhood Webull eToro E*TRADE TD Ameritrade
US stock $0.0 $0.0 $0.0 $0.0 $0.0
UK stock - - $0.0 - -
EURUSD benchmark fee - - $8.8 - $6.8

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#1 Robinhood
Education
1.5

Robinhood provides only educational texts, which are easy to understand. On the negative side, there are no other useful educational tools such as a demo account or tutorial videos.
Pros Cons
Quality educational texts No demo account
No trading platform tutorial videos
No educational videos
Best brokers for beginners - Robinhood education

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#1 Robinhood
Account opening
5.0

The account opening at Robinhood is seamless, fully digital and can be completed within a day. On the negative side, the broker only accepts US clients and IRA accounts are not available.
Pros Cons
Fast Available only for US clients
Fully digital No IRA accounts offered
No minimum deposit
Robinhood minimum deposit and time to open an account
Robinhood Webull eToro E*TRADE TD Ameritrade
Minimum deposit $0 $0 $200 $0 $0
Time to open account 1 day 1 day 1 day 1-3 days 1-3 days

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#1 Robinhood
Deposit and withdrawal
2.3

Deposit and withdrawal at Robinhood are free and easy and a great cash management service is available. On the other hand, you can use only bank transfer and deposits above your 'instant' limit may take several business days.
Pros Cons
Free withdrawal Credit/Debit card not available
No deposit fee Depositing larger amounts on Robinhood Gold takes longer
Cash management service Wire withdrawal is pricey
Robinhood withdrawal fee and options
Robinhood Webull eToro E*TRADE TD Ameritrade
Bank transfer Yes Yes Yes Yes Yes
Credit/debit card No No Yes No No
Electronic wallets No No Yes No No
Withdrawal fee $0 $0 $5 $0 $0

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#1 Robinhood
Verdict

The biggest argument in favor of Robinhood is its appealing fee structure. US stock trading is commission-free and there is no withdrawal or inactivity fee. Robinhood clients can trade on awesome and user-friendly mobile and web trading platforms. The account opening is easy, fast and fully digital.

Robinhood has some drawbacks though. Most of the products you can trade are limited to the US market. Customer support is weak; you can only reach them via e-mail and it can take some time to get an answer. The broker provides educational articles but little else to guide you in the world of trading.

If you want to trade US stocks for free and are looking for an easy-to-use platform, Robinhood is your best choice.

Robinhood
Summary Robinhood is a US-based zero-commission broker. It is overseen by FINRA, a top-tier regulator.
Fees score 4.8 stars
Recommended for Beginners and buy-and-hold investors focusing on the US stock market

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Webull Logo

#2 Best broker for beginners
Webull

4.4

Webull is a US-based fintech startup offering zero-fee or discount brokerage services. The company was founded in 2017 and is regulated by the US Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).

Webull is considered safe because it is regulated by top-tier financial authorities and provides a maximum of $500,000 investor protection, including a $250,000 limit for cash under the Securities Investor Protection Corporation's (SIPC) protection scheme.

Recommended for investors and traders looking for zero-commission trading and focusing on us markets

Pros Cons
Free stocks, ETFs and options Limited product portfolio
Fast and easy account opening Only bank transfer for deposit/withdrawal
Great trading platforms No live chat and poor phone support

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#2 Webull
Web trading platform
4.5

Webull offers an easy-to-use web trading platform suitable for both beginners and experts, with many advanced features. On the negative side, there is no two-step, safer login.
Pros Cons
User-friendly No two-step (safer) login
Good customizability (for charts, workspace)
Good variety of order types
Best brokers for beginners - Webull trading platform
Webull trading platforms
Robinhood Webull eToro E*TRADE TD Ameritrade
Web platform score 4.5 stars 4.5 stars 4.4 stars 4.5 stars 4.3 stars
Mobile platform score 5.0 stars 5.0 stars 4.9 stars 4.5 stars 4.8 stars
Desktop platform score - 4.5 stars - - 4.5 stars

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#2 Webull
Fees
4.7

Webull offers commission-free trading for US-listed stocks, ETFs and options. There is no withdrawal fee for ACH transfers and no inactivity fee. However, wire transfer fees are quite high.
Pros Cons
No commission (for stocks, ETFs, options) High wire transfer costs
ACH transfers are free for funding & payout
Webull fees
Robinhood Webull eToro E*TRADE TD Ameritrade
US stock $0.0 $0.0 $0.0 $0.0 $0.0
UK stock - - $0.0 - -
EURUSD benchmark fee - - $8.8 - $6.8

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#2 Webull
Education
2.0

Webull offers a demo account and some quality educational content. However, there are no other educational tools.
Pros Cons
Demo account No trading platform tutorial videos
No educational videos
No webinars
Best brokers for beginners - Webull education

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#2 Webull
Account opening
5.0

Webull's account opening process is seamless and fully digital, and verification takes less than a day. However, Webull is available only for clients from limited countries, such as the US.
Pros Cons
Fast Mostly for just US residents
Fully digital
No minimum deposit
Webull minimum deposit and time to open an account
Robinhood Webull eToro E*TRADE TD Ameritrade
Minimum deposit $0 $0 $200 $0 $0
Time to open account 1 day 1 day 1 day 1-3 days 1-3 days

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#2 Webull
Deposit and withdrawal
1.9

At Webull, you can use only bank transfer to add or withdraw funds, and wire transfer fees are high. As a plus, transferring money is easy and user-friendly and ACH transfers are free.
Pros Cons
No deposit fee Credit/Debit card not available
User-friendly Only one account base currency
Free ACH deposit and withdrawal High fees for wire transfer
Webull withdrawal fee and options
Robinhood Webull eToro E*TRADE TD Ameritrade
Bank transfer Yes Yes Yes Yes Yes
Credit/debit card No No Yes No No
Electronic wallets No No Yes No No
Withdrawal fee $0 $0 $5 $0 $0

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#2 Webull
Verdict

Webull's fees are great. You can trade with commission-free US stocks, ETFs and options. The account opening is easy, fully digital and fast. The platforms are easy to use and well-structured.

Webull has some drawbacks though. The product portfolio is quite limited, covering only US stocks, ETFs and options. You can use only bank transfer for deposit or withdrawal, and wire transfers are charged for both directions. Phone and email customer support are hard to contact.

As the account opening is seamless, and Webull offers commission-free stock and ETF trades, feel free to try it.

Webull
Summary Webull is a discount US stockbroker regulated by the top-tier SEC and FINRA.
Fees score 4.7 stars
Recommended for Investors and traders looking for zero-commission trading and focusing on US markets

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eToro Logo

#3 Best broker for beginners
eToro

4.7

eToro is a well-known Israeli fintech company, a social trading broker, established in 2007.

eToro serves UK clients through a unit regulated by the Financial Conduct Authority (FCA) and Australians through an Australian Securities and Investment Commission (ASIC) regulated entity. All other customers are served by a Cypriot unit that is regulated by the Cyprus Securities and Exchange Commission (CySEC).

eToro is not listed on any stock exchange, does not disclose its annual report on its site and does not have a bank parent.

eToro is considered safe because its UK and Australian arms are regulated by top-tier financial authorities and it is a well-known fintech company.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Recommended for traders interested in social trading (i.e. copying other investors’ trades) & zero commission stock trading

Pros Cons
Free stock and ETF trading High forex fees
Seamless account opening Withdrawing money can be slow
Social trading experience Only one account base currency

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#3 eToro
Web trading platform
4.4

eToro offers a user-friendly and well-designed web trading platform. Social trading is available, too. On the other hand, the customizability is limited.
Pros Cons
User-friendly Limited customizability (for charts, workspace)
Clear fee report
Two-step (safer) login
Best brokers for beginners - eToro trading platform
eToro trading platforms
Robinhood Webull eToro E*TRADE TD Ameritrade
Web platform score 4.5 stars 4.5 stars 4.4 stars 4.5 stars 4.3 stars
Mobile platform score 5.0 stars 5.0 stars 4.9 stars 4.5 stars 4.8 stars
Desktop platform score - 4.5 stars - - 4.5 stars

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#3 eToro
Fees
4.3

eToro offers free stock trading. On the negative side, forex trading fees are high and there is a fee charged for inactivity or withdrawal.
Pros Cons
Low trading fees Withdrawal fee
Free stock trading Monthly inactivity fee after 1 year of no trading
Low CFD fees
eToro fees
Robinhood Webull eToro E*TRADE TD Ameritrade
US stock $0.0 $0.0 $0.0 $0.0 $0.0
UK stock - - $0.0 - -
EURUSD benchmark fee - - $8.8 - $6.8

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#3 eToro
Education
2.5

eToro's education tools are limited, with only some medium-quality videos about investing available.
Pros Cons
Demo account Basic educational videos
Intro guide to the platform
Best brokers for beginners - eToro education

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#3 eToro
Account opening
5.0

Account opening at eToro is seamless and very fast.
Pros Cons
Fast None
Fully digital
Low minimum deposit
eToro minimum deposit and time to open an account
Robinhood Webull eToro E*TRADE TD Ameritrade
Minimum deposit $0 $0 $200 $0 $0
Time to open account 1 day 1 day 1 day 1-3 days 1-3 days

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#3 eToro
Deposit and withdrawal
3.5

Depositing money is free and easy, with a lot of available options, including credit cards. However, there is a withdrawal fee and only USD accounts are available.
Pros Cons
Credit/Debit card available Only one account base currency
No deposit fee $5 withdrawal fee
User-friendly Conversion fee for non-USD deposits
eToro withdrawal fee and options
Robinhood Webull eToro E*TRADE TD Ameritrade
Bank transfer Yes Yes Yes Yes Yes
Credit/debit card No No Yes No No
Electronic wallets No No Yes No No
Withdrawal fee $0 $0 $5 $0 $0

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#3 eToro
Verdict

eToro has zero-commission stock trading. Account opening is swift and seamless. It has a lot of innovative features, like social trading and copying other (successful) traders.

It has some drawbacks, though. Forex fees are high and eToro only allows USD accounts, which means that conversion costs on deposits and withdrawals can be high in some cases. Live chat is hard to reach and their educational materials could be better.

Overall, we would recommend eToro for its social trading feature and zero-commission stock trading.

Risk disclaimer

eToro is a multi-asset platform that offers both investing in stocks and crypto assets as well as trading CFD assets.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Cryptoassets are volatile instruments that can fluctuate widely in a very short timeframe and therefore are not appropriate for all investors. Other than via CFDs, trading crypto assets is unregulated and therefore is not supervised by any EU regulatory framework.

Past performance is not an indication of future results.

eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.

eToro
Summary eToro is a global social trading broker. It is regulated by top-tier authorities such as the UK FCA or Australia's ASIC.
Fees score 4.3 stars
Recommended for Traders interested in social trading (i.e. copying other investors’ trades) & zero commission stock trading

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E*TRADE Logo

#4 Best broker for beginners
E*TRADE

4.9

E*TRADE is a US-based stockbroker founded in 1982. It is regulated by top-tier financial authorities like the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).

E*TRADE is considered safe because it has a long track record, is listed on a stock exchange, has a banking background, discloses its financials, and is overseen by top-tier US regulators.

In February 2020, E*TRADE was acquired by Morgan Stanley. To find out more about the motives behind the acquisition and about the wider market context, check out this article we wrote about the deal.

Recommended for investors and traders looking for solid research and a great mobile trading platform

Pros Cons
Low trading fees (free stock and ETF trading) Only US markets, no forex
User-friendly mobile trading platform Only bank transfer
Great research tools Slow live chat

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#4 E*TRADE
Web trading platform
4.5

E*TRADE has a great, user-friendly web trading platform, offering a clear fee report among others. On the negative side, it cannot be customized.
Pros Cons
User-friendly Limited customizability (for charts, workspace)
Clear fee report
Two-step (safer) login
Best brokers for beginners - E*TRADE trading platform
E*TRADE trading platforms
Robinhood Webull eToro E*TRADE TD Ameritrade
Web platform score 4.5 stars 4.5 stars 4.4 stars 4.5 stars 4.3 stars
Mobile platform score 5.0 stars 5.0 stars 4.9 stars 4.5 stars 4.8 stars
Desktop platform score - 4.5 stars - - 4.5 stars

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#4 E*TRADE
Fees
4.4

E*TRADE offers free trading of stocks, ETFs, and some bonds and mutual funds. Non-trading fees are also low. On the negative side, fees for mutual funds that aren't free are high.
Pros Cons
Free stock and ETF trading High fees for non-free mutual funds
Some mutual funds and bonds are free
Low non-trading fees
E*TRADE fees
Robinhood Webull eToro E*TRADE TD Ameritrade
US stock $0.0 $0.0 $0.0 $0.0 $0.0
UK stock - - $0.0 - -
EURUSD benchmark fee - - $8.8 - $6.8

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#4 E*TRADE
Education
3.9

E*TRADE offers good educational materials, such as videos, articles and free webinars. On the other hand, the demo account is available only for Power E*TRADE platform.
Pros Cons
Trading platform tutorial Demo account is only for Power E*TRADE
Educational videos
Good production quality
Best brokers for beginners - E*TRADE education

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#4 E*TRADE
Account opening
4.4

Account opening at E*TRADE (only available for US clients) is fully digital and user-friendly, but the account verification process is slow.
Pros Cons
Fully digital Slow account verification
No minimum deposit
User-friendly
E*TRADE minimum deposit and time to open an account
Robinhood Webull eToro E*TRADE TD Ameritrade
Minimum deposit $0 $0 $200 $0 $0
Time to open account 1 day 1 day 1 day 1-3 days 1-3 days

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#4 E*TRADE
Deposit and withdrawal
2.2

E*TRADE charges no deposit fees, and transferring money is easy. On the flip side, you can only use bank transfer, and a high fee is charged for wire transfer withdrawals.
Pros Cons
No deposit fee Credit/Debit card not available
User-friendly High fee for wire transfer withdrawal
E*TRADE withdrawal fee and options
Robinhood Webull eToro E*TRADE TD Ameritrade
Bank transfer Yes Yes Yes Yes Yes
Credit/debit card No No Yes No No
Electronic wallets No No Yes No No
Withdrawal fee $0 $0 $5 $0 $0

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#4 E*TRADE
Verdict

E*TRADE is one of the biggest US stockbrokers, and is regulated by top-tier authorities.

At the end of 2019, riding the commission-free trading trend in the US, E*TRADE introduced zero commission on stock and ETF trades. E*TRADE's research functions are of high quality and channel a lot of tools, including trading ideas and strategy builders. We liked the easy handling and the customizable features of the mobile trading platform.

E*TRADE has some drawbacks though. It doesn't accept credit/debit cards and electronic wallets for money transfers, and its product portfolio covers only US markets. In addition, live chat support is slow.

As trading fees are generally low, research tools are great and no inactivity fee is charged, you should feel free to try E*TRADE.

E*TRADE
Summary E*TRADE is a US stockbroker, regulated by top-tier authorities the SEC and FINRA. The company is listed on NASDAQ and has a banking background.
Fees score 4.4 stars
Recommended for Investors and traders looking for solid research and a great mobile trading platform

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TD Ameritrade Logo

#5 Best broker for beginners
TD Ameritrade

4.9

TD Ameritrade was founded in 1975 and is one of the biggest US-based stockbrokers. It is regulated by top-tier authorities like the Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA) and the Commodity Futures Trading Commission (CFTC).

TD Ameritrade is considered a safe broker since it has a long track record, is listed on a stock exchange, has a banking background, discloses its financials, and is overseen by top-tier regulators.

Recommended for investors and traders looking for solid research and a well-equipped desktop trading platform

Pros Cons
Low trading fees (free stock and ETF trading) You can trade only on US markets
Superb desktop trading platform Accounts mostly limited to US residents
Great customer support No credit/debit cards and electronic wallets for money transfer

#5 TD Ameritrade
Web trading platform
4.3

TD Ameritrade offers a good web trading platform with a clean design. On the flip side, the platform is not customizable.
Pros Cons
User-friendly Limited customizability (for charts, workspace)
Two-step (safer) login
Good variety of order types
Best brokers for beginners - TD Ameritrade trading platform
TD Ameritrade trading platforms
Robinhood Webull eToro E*TRADE TD Ameritrade
Web platform score 4.5 stars 4.5 stars 4.4 stars 4.5 stars 4.3 stars
Mobile platform score 5.0 stars 5.0 stars 4.9 stars 4.5 stars 4.8 stars
Desktop platform score - 4.5 stars - - 4.5 stars

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#5 TD Ameritrade
Fees
4.3

TD Ameritrade offers free stock and ETF trading, while forex, bond and options fees are also low. On the other hand, it charges high fees for mutual funds and futures.
Pros Cons
Low trading fees High fund fees
Low non-trading fees
Free stocks and ETFs
TD Ameritrade fees
Robinhood Webull eToro E*TRADE TD Ameritrade
US stock $0.0 $0.0 $0.0 $0.0 $0.0
UK stock - - $0.0 - -
EURUSD benchmark fee - - $8.8 - $6.8

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#5 TD Ameritrade
Education
5.0

TD Ameritrade offers great educational materials such as webcasts and articles, and its excellent Thinkorswim desktop platform has a demo account.
Pros Cons
Demo account None
Trading platform tutorial
Educational videos
Best brokers for beginners - TD Ameritrade education

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#5 TD Ameritrade
Account opening
3.6

TD Ameritrade offers many different account types, and US citizens face no minimum deposit.
Pros Cons
Fully digital None
No minimum deposit
Many account types
TD Ameritrade minimum deposit and time to open an account
Robinhood Webull eToro E*TRADE TD Ameritrade
Minimum deposit $0 $0 $200 $0 $0
Time to open account 1 day 1 day 1 day 1-3 days 1-3 days

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#5 TD Ameritrade
Deposit and withdrawal
2.2

TD Ameritrade has user-friendly account funding with no deposit fees, but USD is the only available base currency, and wire transfers incur a high fee.
Pros Cons
Free withdrawal Credit/Debit card not available
No deposit fee Only one account base currency
User-friendly High withdrawal fee for wire transfers
TD Ameritrade withdrawal fee and options
Robinhood Webull eToro E*TRADE TD Ameritrade
Bank transfer Yes Yes Yes Yes Yes
Credit/debit card No No Yes No No
Electronic wallets No No Yes No No
Withdrawal fee $0 $0 $5 $0 $0

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#5 TD Ameritrade
Verdict

TD Ameritrade is one of the biggest US online brokers. It charges no commission on stock and ETF trades.

Research and education are outstanding at TD Ameritrade, offering you many useful tools. The Thinkorswim desktop trading platform is one of the best on the marketCustomer service is great, you will get relevant answers within a short time.

TD Ameritrade has some drawbacks, though. It charges high financing (margin) rates, and it doesn't accept credit/debit cards and electronic wallets for money transfers. Furthermore, the product portfolio covers only the US market.

As TD Ameritrade offers great education tools including a demo account, we encourage you to try it.

TD Ameritrade
Summary TD Ameritrade is a US stockbroker, regulated by top-tier authorities the SEC and FINRA. The company is listed on NASDAQ and has a banking background as part of the TD Group.
Fees score 4.3 stars
Recommended for Investors and traders looking for solid research and a well-equipped desktop trading platform

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Best brokers for beginners
What makes a great broker for beginners

Now you know the best best brokers for beginners. Curious how we came up with this list? Let's go through two points. Are they safe? How did we compile the list?

Are these brokers safe?

You can be sure none of them is a scam. They are regulated by at least one top-tier regulator. Some of them are also listed on an exchange, and some have a banking background.

However, also brokerage companies can go down. Remember Lehman Brothers? In these cases, it is important to know what happens with your securities and cash. These are usually held in segregated accounts, so even in case of a broker bankruptcy, you are safe.

If everything goes very bad and for example, the broker steals your assets, then you have a last resort, the compensation fund of the country where the broker is regulated.

How did BrokerChooser pick the best brokers for beginners?

At BrokerChooser we test online brokers along more than 100 criteria, with a real account and real money. Not to overwhelm you we list the five most important criteria for brokers for beginners:

5 most important criteria for the best brokers for beginners in 2020
1. Web trading platform A user-friendly and well-equipped trading platform can significantly increase your trading comfort.
2. Fees The overall cost of a typical trade can be 10-15 times higher at one broker compared to another. Worth to check the fees.
3. Education You are not familiar with concepts like spread or leverage? Good educational tools help you understand the basics of trading.
4. Account opening Some online brokers require a minimum to invest, others don't set a minimal first-time deposit. Check out what the best online brokers require.
5. Deposit and withdrawal Withdrawing money from your account can be 5 times longer and more expensive at one broker compared to another.

Best brokers for beginners
Start your learning

When you are a beginner the best way to start your journey is to learn.

Find below some very useful learning materials to start with.

If you are considering starting. Check our learning page, a lot of great materials. You can learn about the pros and cons of investing your money on your own or the difference between trading vs investing. Also go to the learn section if you want to figure out whether you can open a foreign account.

For beginner buy and hold investors we recommend to read the how to buy shares. Have a six-step approach on how to buy shares online.

For beginners who want to learn to trade, we can provide even more. Robert, a professional trader, wrote on how to become a trader. Most of the beginner traders start with forex. If you don't anything about this topic, start with the forex 101. The CFDs also have become very popular. They are very risky. Start learning about CFDs with this CFD greenhorn and continue with the pros and cons of CFD trading.

Cryptos were among the hottest topics in 2017. Also super risky. Tibor dug in into it and found out the safest ways to invest in Bitcoin. A very interesting read, highly recommended if you are considering cryptos.

When more experienced and starting to explore futures options, you should definitely check out Gery's article on the topic.

Best brokers for beginners
Bottom line

You saw the details, now let's zoom out. Here are the best brokers for beginners in the United States in 2020:

Best brokers for beginners in the United States of 2020
Robinhood Webull eToro E*TRADE TD Ameritrade
Award Best broker for beginners Best broker for cryptos Best desktop trading platform
Fees score 4.8 stars 4.7 stars 4.3 stars 4.4 stars 4.3 stars
Account opening score 5.0 stars 5.0 stars 5.0 stars 4.4 stars 3.6 stars
Deposit and withdrawal score 2.3 stars 1.9 stars 3.5 stars 2.2 stars 2.2 stars
Markets and products score 2.4 stars 1.7 stars 3.8 stars 3.1 stars 4.0 stars
Web platform score 4.5 stars 4.5 stars 4.4 stars 4.5 stars 4.3 stars
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Robinhood is our winner, the best broker for beginners in the United States in 2020. Free US stock and ETF trading. Great mobile and web trading platforms. Fast and fully digital account opening

All are considered a great choice. Pick the winner, or any runner-up and take the next step in your investment journey. Let us know what you think in the comment section.

Still unsure? Use the broker finder and find the best broker for you or learn more about investing your money.

Author of this article

Gergely Korpos

Author of this article

Gergely is the co-founder and CPO of Brokerchooser. His aim is to make personal investing crystal clear for everybody. Gergely has 10 years of experience in the financial markets. He concluded thousands of trades as a commodity trader and equity portfolio manager.

Gergely Korpos

Co-founder, CPO

Gergely is the co-founder and CPO of Brokerchooser. His aim is to make personal investing crystal clear for everybody. Gergely has 10 years of experience in the financial markets. He concluded thousands of trades as a commodity trader and equity portfolio manager.

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