Best Brokers for Beginner Investors: Top Picks for 2025
The best brokers for beginners offer a combination of low costs, helpful educational content and a broad investment selection. Our testers also look for trading platforms that are easy to navigate and flexible as you grow your skills and excellent customer support.
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When you’re a beginner investor, the right broker is more than a platform for placing trades or selecting your investments. Online stock brokers can help you build a solid investing foundation — functioning as a teacher, advisor and investment analyst — as your investing skills and portfolio grow.
Whether you're looking for the best platform to help you dabble in stock trading or just want to invest in long-term investments like mutual funds, you'll find an option on our list below.
How we review brokers for beginners
We do a deep, comprehensive analysis of online brokers, which involves not just collecting data points about their offerings, but also hands-on testing of each broker. For beginners, we focus heavily on ease of use: How usable is the online broker's website? How easy is it to fund an account? Can a beginner quickly learn to navigate the broker's trading platform? Answering these questions is part of our evaluation process.
We also look at factors like account fees, customer service, mobile app and investment selection — we don't expect the best brokers for beginners to have complex investment offerings, but we do expect them to offer a range of approachable investments, like mutual funds and index funds.
Get matched with a financial advisor in minutes through NerdWallet Advisors Match
When you’re a beginner investor, the right broker is more than a platform for placing trades or selecting your investments. Online stock brokers can help you build a solid investing foundation — functioning as a teacher, advisor and investment analyst — as your investing skills and portfolio grow.
Whether you're looking for the best platform to help you dabble in stock trading or just want to invest in long-term investments like mutual funds, you'll find an option on our list below.
How we review brokers for beginners
We do a deep, comprehensive analysis of online brokers, which involves not just collecting data points about their offerings, but also hands-on testing of each broker. For beginners, we focus heavily on ease of use: How usable is the online broker's website? How easy is it to fund an account? Can a beginner quickly learn to navigate the broker's trading platform? Answering these questions is part of our evaluation process.
We also look at factors like account fees, customer service, mobile app and investment selection — we don't expect the best brokers for beginners to have complex investment offerings, but we do expect them to offer a range of approachable investments, like mutual funds and index funds.
Best Brokers for Beginner Investors: Top Picks
Broker | NerdWallet rating | Fees | Account minimum | Promotion | Learn more |
---|---|---|---|---|---|
Charles Schwab Learn more on Charles Schwab's website | Best for paper trading | $0 per online equity trade | $0 | None no promotion available at this time | Learn more on Charles Schwab's website |
J.P. Morgan Self-Directed Investing Learn more on J.P. Morgan's website | Best for in-person customer support | $0 per trade | $0 | Get up to $700 when you open and fund a J.P. Morgan Self-Directed Investing account with qualifying new money. | Learn more on J.P. Morgan's website |
Fidelity | Best for beginners overall | $0 per trade for online U.S. stocks and ETFs | $0 | None no promotion available at this time | Read review |
Vanguard | Best for index funds and ETFs | $0 per trade | $0 | None no promotion available at this time | Read review |
SoFi Active Investing Learn more on SoFi Invest's website | Best for complimentary advisor access | $0 per trade | $0 | Get up to $1,000 in stock when you fund a new account. | Learn more on SoFi Invest's website |
M1 Finance | Best for easy allocation | $0 | $100 | Get up to $500 in your new Brokerage Account when you sign up and make a deposit within 14 days. Plus, earn up to $10,000 to invest when you transfer your brokerage account to M1 within 30 days of opening an M1 account. | Read review |
Robinhood | Best for a seamless platform | $0 per trade | $0 | 1 Free Stock after linking your bank account (stock value range $5.00-$200) | Read review |
Our pick for
paper trading
Schwab gets an edge here for its paper trading platform — a tool that allows you to practice trades without putting your real money on the line. While it technically doesn't win on our paper trading roundup, it's the best broker for beginners that offers paper trading, with a large selection of investments to try out. Once you're ready to graduate from fake money, Schwab's impressive lineup of platforms will more than meet your needs — in fact, the broker's platforms are a favorite among even advanced traders.
$0
per online equity trade
$0
None
no promotion available at this time
Pros
Commission-free stock, options and ETF trades.
Five trading platforms with no minimums or fees.
Access to thinkorswim platforms.
Extensive research offerings.
Large fund selection.
Cons
Low interest rate on uninvested cash.
Why We Like It
Charles Schwab has earned its strong reputation: The broker offers high-quality customer service, four free trading platforms, a wide selection of no-transaction-fee mutual funds and $0 commissions for stocks, ETFs and options.
Our pick for
in-person customer support
J.P. Morgan earns high marks from our reviewers for its customer service, a key factor for beginner investors. In addition to that, the broker stands out for its large network of locations where investors can receive in-person support.
$0
per trade
$0
Get up to $700
when you open and fund a J.P. Morgan Self-Directed Investing account with qualifying new money.
Pros
Commission-free stock, options and ETF trades.
Easy-to-use platform.
App connects all Chase accounts.
In-person customer support at Chase branches.
Cons
Bare-bones trading platform isn't for advanced traders.
Low interest rate on uninvested cash.
Why We Like It
J.P. Morgan Self-Directed Investing is a clear-cut investment platform that is great for beginners looking to learn how to buy and sell investments. More advanced investors, however, may find it lacking in terms of available assets, tools and research. If building an investment portfolio from scratch seems overwhelming, J.P. Morgan's Self-Directed Investing Portfolio Builder tool makes the process less intimidating.
INVESTMENT PRODUCTS: NOT A DEPOSIT • NOT FDIC INSURED • NO BANK GUARANTEE • MAY LOSE VALUE"
Our pick for
index funds and ETFs
Vanguard has long been known as the place for hands-off retirement investors. The funds are well-established and often earn high marks with third-party analysts. Plus, they're fairly inexpensive as long as you can meet the investment minimum.
$0
per trade
$0
None
no promotion available at this time
Pros
Commission-free stock, options and ETF trades.
Leader in low-cost mutual, index and exchange-traded funds.
High interest rate on uninvested cash.
High order execution quality.
Cons
Basic trading platform only.
Limited research and data.
No fractional shares for stocks.
Why We Like It
Vanguard is the king of low-cost investing, making it ideal for buy-and-hold and retirement investors. It offers a top-notch selection of proprietary, low-cost mutual funds, including many ESG options. Despite its $0 trade commission, active traders will find the broker falls short due to the lack of a strong trading platform.
Our pick for
complimentary advisor access
SoFi is the only broker we review that offers complementary access to financial advisors. For new investors, this can be an incredible resource (that many other brokers charge a hefty fee for).
$0
per trade
$0
Get up to $1,000
in stock when you fund a new account.
Pros
No commissions on stock, options and ETF trades
Complimentary access to financial planners.
IPO access.
IRA match.
Cons
Low interest rate on uninvested cash.
Why We Like It
SoFi Active Investing's $0 trading commission, complimentary access to financial advisors, fractional shares and $0 account minimum are attractive to new investors. More advanced investors will appreciate the company's wide mutual fund selection and IPO access.
Our pick for
easy allocation
You may be surprised to see a broker with a lower overall score listed as one of our top picks for beginners, but M1 breaks the mold specifically in this category. One of our testers liked M1 so much they started using it for their own personal finances. M1 can help you truly understand investing while many other brokers leave you alone to figure it out.
$0
$100
Get up to $500
in your new Brokerage Account when you sign up and make a deposit within 14 days. Plus, earn up to $10,000 to invest when you transfer your brokerage account to M1 within 30 days of opening an M1 account.
Pros
Commission-free trades for stocks and ETFs.
Highly rated mobile app.
Dynamic Rebalancing feature ensures cash moving in and out of the portfolio helps maintain target percentages of each investment “Slice.”
High interest rate on uninvested cash.
Cons
Restricted trading windows.
Limited educational sources.
No options trading.
Why We Like It
M1 Finance stands out for its unique investment approach — it helps investors visualize their portfolios as a pie, with "slices" made up of different securities. The mix of automation and manual investing will appeal to beginner investors who want to grow their skills and long-term investors who want help maintaining their portfolio allocation.
Our pick for
a seamless platform
Robinhood, for better or worse, makes investing fun and incredibly accessible. If you get bogged down with old-fashioned platforms and apps that feel like they were developed in the '90s, Robinhood may be a good choice for you.
$0
per trade
$0
1 Free Stock
after linking your bank account (stock value range $5.00-$200)
Pros
Commission-free stock, options and ETF trades.
Streamlined interface.
Cryptocurrency trading.
IRA with 1% match (3% for Gold members).
High interest rate on uninvested cash.
Cons
No mutual funds.
Little third-party research.
Why We Like It
Robinhood provides free stock, options, ETF and cryptocurrency trades (but no bonds or mutual funds), and its account minimum is $0, too. Robinhood Gold offers a high interest rate on uninvested cash and low margin rates.
Want to compare more options? Here are our other top picks:
How do you start investing?
To start investing, you need to open an investment account through a broker. That account is called a brokerage account, and it holds the cash you’ll use to buy and sell investments, as well as the investments themselves once you own them.
If you have a 401(k) or other employer-sponsored retirement account, you already have one kind of investment account. Many investors find it beneficial to open additional accounts when:
Saving for retirement. If you want or need to save for retirement in an account separate from your employer, you can open an IRA. These come in two flavors: a traditional IRA or a Roth IRA. (Read more about the differences between Roth and traditional IRAs.)
Investing for other goals. If you’re saving for a goal other than retirement or you’ve topped off your 401(k) and IRA contributions, a standard taxable brokerage account is a good option. It's called a taxable account because it doesn't come with the tax benefits that many retirement accounts offer, but that also makes it more flexible to be used for various goals.
Is money safe with a broker?
The Securities Investor Protection Corporation insures cash and securities up to $500,000, with a $250,000 limit on cash losses. But this protects you only in the event your stock broker fails. Many investments, including stocks, carry the risk of loss, and you're not protected if an investment you purchase goes down in value. You should expect the value of your investments to fluctuate, but over a long time horizon, the stock market has historically returned an average of 10% per year before inflation.
How much does a broker cost?
The brokers on our list generally have low fees as a requirement to appear here, and as you can see above, they don't charge commissions to trade stocks or most other investments. It also doesn’t take a lot of money to get started — many online stock brokers allow you to open an account with no minimum deposit requirement.
But you will need enough money to purchase the investments you choose. Stock share prices can vary widely, but some brokers allow you to purchase fractional shares, which are a smaller slice of a stock. We have a list of the best brokers for fractional shares. Other investments, like mutual funds, may have investment minimums, but generally speaking, you can find options that don't — especially at the brokers we've chosen to appear here.
What's the best trading platform beginners?
For beginner investors, we look for trading platforms that are easy to understand and navigate, but can also grow with you as you begin to move away from "beginner" status and start feeling more comfortable with investing and trading. Brokers that scored highly for both ease of use and their platform's capabilities include Fidelity, Charles Schwab and Robinhood.
Can you take money out of these accounts?
Yes, but it will take more time than getting cash from your ATM — often a few business days. Your broker may need to sell securities (like stocks, bonds or mutual funds) equivalent to the amount you want to withdraw, so it's not as simple as removing cash from a savings account.
If you're taking all of your money out, whether transferring to a different stock broker or cashing out to move to Tahiti, there may be account closing fees as well.
More resources for beginners
Learn more about how to invest in stocks.
Understand how mutual funds can help build diversification.
Consider passive investing by investing in index funds.
Last updated on December 13, 2024
Methodology
NerdWallet rates brokers on a scale of 1 to 5 stars, with 5 being the best possible score. The ratings are incremented in tenths of a star. Detailed information about how we rate brokers and the factors we consider in our assessments is available in our full ratings methodology.
To recap our selections...
NerdWallet's Best Brokers for Beginner Investors: Top Picks for 2025
- Charles Schwab: Best for paper trading
- J.P. Morgan Self-Directed Investing: Best for in-person customer support
- Fidelity: Best for beginners overall
- Vanguard: Best for index funds and ETFs
- SoFi Active Investing: Best for complimentary advisor access
- M1 Finance: Best for easy allocation
- Robinhood: Best for a seamless platform