Best Mobile Stock Broker for Beginners

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Contributor, Benzinga
April 24, 2024

Benzinga readers often choose Interactive Brokers, Webull or Robinhood as the best stock brokers for beginners.

Though many beginner stock investors believe that they need to have millions of dollars to get started in the stock market, the truth is that most platforms now allow you to get started buying and selling shares with only a few dollars. Plenty of stock brokers make the process of getting involved in the market easier and less intimidating for beginners. To make the best investments, you need to know the best online stock broker for beginners. The following brokers offer affordable trading, straightforward platforms and low account minimums for new investors. 

Best Stock Brokers for Beginners

Best Online Stock Brokers for Beginners

A number of stock brokers for beginners specialize in helping you learn about the market. The following stock brokers are particularly easy to use, which is why they’re recommended as the best stock brokers for beginners. 

1. Best for Active and Global Traders: Interactive Brokers

IBKR is an international investing platform that allows you to trade assets on 150 markets If this international access is too overwhelming, know that Interactive Brokers Group Inc. (NASDAQ: IBKR) also offers unique assets not seen with many other platforms — like municipal bonds and metals. Despite all these features, Interactive Brokers still maintains a $0 account minimum, and most traders won’t pay a commission on their trades.

You will also gain access to a high APY for uninvested cash that sits in your account and some of the lowest margin rates in the industry.

Though Interactive Broker’s platform isn’t as straightforward as the other options on this list, it can be a viable option if you have a bit of trading experience but you’ve been out of the market for a while. Interactive Brokers’ mobile app is also easily customizable, which can make for a better trading experience as you develop a strategy. 


  • Large investment selection
  • High quality education tools and resources
  • 18,000+ no-transaction-fee mutual funds
  • Low margin rates
  • Low fees on options trades


  • Website can be confusing to navigate

2. Best for Active Traders: moomoo

Moomoo is an intuitive investment and trading platform with pro-grade, easy-to-use tools, data, and insights that come together to offer a pro-level trading experience for traders of any experience level.

When you sign up with Moomoo and open a brokerage account, you will unlock several unique features, including:

  • Real-time Level 2 stock and options market data for funded accounts
  • Advanced technical indicators and charting tools
  • Advanced order types
  • Full extended trading hours from 4 AM to 8 PM EST
  • Multi-market quotes
  • Low fees, including $0 commission on U.S. Stocks and ETFs along with $0 equity options contract fees
  • 5.1% APY in the Cash sweep program and a 3.0% boost for qualified customers

Users can reach out to the moomoo customer support team either by phone during the trading day or via email. If you prefer to learn on your own, you can review the FAQs in the Help Center for more information or to get specific questions answered.

The site also helps users learn more about trading through an expansive educational resource offering, many pro-level research tools, and features and an active global community with more than 20 million users worldwide who are building portfolios just like you are.


  • Commission Free trading and 6.8% margin rate
  • 5.1% APY in the Cash Sweep program for new and qualified customers
  • Free Level 2 data for funded brokerage accounts
  • 100+ indicators, 37+ drawing tools, and 20 candle patterns
  • Extended trading hours
  • No minimum deposit to open an account.
  • 24/7 chat support


  • Does not support fractional stocks and Crypto
  • No support for mutual funds
  • Does not support retirement accounts

3. Best for Intermediate Traders and Investors: Webull

Webull is a trading app designed to offer frequent traders an affordable method to buy and sell multiple times a day. If you’ve ever been interested in day trading, Webull can be a good choice thanks to its $0 commissions, 24/7 cryptocurrency trading and around-the-clock customer service.

Webull also offers trading resources aimed at beginners. You can access a course on day trading directly through the platform and immediately put what you’ve learned into use. Webull even offers a trading simulator, which is similar to a demo account that you can practice trading on. This feature allows you to test a new strategy and learn more about Webull’s tools in a hands-on capacity.  


  • Fantastic user experience across all devices 
  • No account maintenance fees or software platform fees
  • No charges to open an account
  • Simulated (paper) trading is available


  • Doesn't support trading in mutual funds, bonds or OTC stocks
  • Thin stock and market research content

4. Best for Copy Trading: AvaTrade

AvaTrade is a place where any investor can build their portfolio, but it is especially helpful to beginners who want to learn. You can study the educational materials that are available, or you can go to SharpTrader for a much more robust educational experience. There are over 90 indicators, multiple charts, and a range of assets like stocks, ETFs, crypto, futures and much more.


  • You can study the markets before investing
  • Multilingual support
  • Friendly for beginners


  • You may want a more professional trading experience

5. Best for Mobile Traders: Robinhood

One of the first brokerages to get rid of trading fees, Robinhood remains a strong choice for new investors entering the market for the first time. The broker’s platform was designed with the beginner in mind — you’ll find all of your trading tools clearly labeled, and you can open your account in just 5 minutes.

When an order is filled on Robinhood Markets Inc. (NASDAQ: HOOD), you’ll receive a notification in your app and options to learn more about what to do next. Many of Robinhood’s features also come with instructions that can be a major benefit to the new trader. For example, when you place a buy order, Robinhood’s app offers a short explanation of each type of order and the conditions under which it will be executed. 


  • Easy to understand user platform
  • No account minimum
  • Mobile app has full capabilities as desktop version
  • Supports cryptocurrency purchases
  • Stocks and ETF trades


  • Lack of analysis tools
  • No mutual funds or bonds

6. Best for Long Term Investors: Magnifi

Magnifi is a marketplace that allows you, as the investor, to use common brokerage tools and AI to make the best decisions for your portfolio. Because you can pull up all the information you need on a given asset, you can easily invest in the assets that will give you the results you deserve and better match your strategy. This makes it easier for beginners to learn how the market works, which assets to target and how the market moves based on current events and conditions.

Search for the investment options that meet your needs, invest in specific categories or scan for assets in a price range that’s affordable for you.

Best for long-term investors and those who require a bit of client support, you can also learn more about investing from this platform, utilize the AI-powered investing assistant, enjoy commission-free investing, try the mobile app and take advantage of over 15,000 possible investment options. This makes Magnifi a good place to trade for both seasoned and novice traders.


  • AI-powered investing assistant with a Magnifi Personal account
  • Investing is commission-free
  • 15,000+ possible investments
  • Mobile app available


  • Custom service is lacking

7. Best for Copy Trading: eToro

  • eToro Stocks
    Best For:
    Social Investing
    securely through eToro Stocks's website

    eToros securities trading offered by eToro Securities, Inc, (“the BD”), member of FINRA and SIPC. Investing involves risk.

Though eToro began as a cryptocurrency trading platform, the broker has recently introduced stock and exchange-traded fund (ETF) trading in January of 2022. eToro’s pricing is exceptionally fast, providing you with up-to-the-minute information on what every asset currently costs. The platform’s buy-order process is also quick and intuitive, which can be a major benefit for new investors.

eToro also offers a social media-like dashboard that allows you to interact with other traders and investors and see which assets they’re talking about. The platform also regularly offers cryptocurrency benefits for users joining for the first time.


  • Simple and easy to use platform
  • Great option for stock trades
  • CopyTrader feature that allows new traders to copy the same strategies used by professionals
  • Virtual accounts are available for simulated trading


  • High non-trading fees
  • Limited customer service

8. Best for Trading Ideas: is the only investing platform that lets you buy, sell, and hold stocks and ETFs alongside crypto and alternative assets—like art and collectibles. There are no account minimums, and all accounts are cash accounts—no IRA or 401(k)s at this time—which makes for simpler investing and easier decision-making. 

For every stock or ETF you want to buy, you can see all the information for that asset, a chart that tracks its trajectory, and historical data that allows you to learn and understand trends. This can also include access to advanced data, custom company metrics, and expert analyst insights through their Public Premium membership. It’s all about helping you be a better investor. Public even has a social feed to help you exchange ideas and opportunities with their active community of over one million investors.

If you’re a new investor, you can choose to build your portfolio around different themes—from Green Power to Meatless Revolution, Reduce and Reuse, Water Works, Cannabiz, and Self-driving cars. They also have a ton of educational resources if you’d like to understand more about the markets and what makes them move. Just remember to only spend money you’re comfortable losing if some of those investments don’t work out.


  • Commission-free stock and ETF trading
  • Fractional share investing
  • Advanced data, tools, and insights with Public Premium account
  • Free research and analysis tools and insights


  • No advanced charts
  • Limited account types

9. Best for Derivatives Traders: E*TRADE

E*TRADE has the tools and platforms to help beginners invest like professionals.

You'll be connected on all platforms as E*TRADE also has an excellent mobile app, and you can count on their customer service to always be there when you need it.


  • Advanced trading platforms
  • Broad range of tradable assets
  • Sophisticated mobile app
  • Exceptional customer service


  • Limited currency trading
  • Higher margin rates than competitors
  • No paper trading on its standard platform

10. Best for Short Selling: TradeZero

TradeZero is an online platform with free trading options, a powerful mobile app and 24/7 customer service. You can use the platform for free, or you can step up to ZeroPro or ZeroWeb depending on your preferred mode of investment for a reasonable monthly fee.


  • 24/7 live customer support
  • ZeroWeb technology provides powerful level 2 online platform with direct market access
  • Easy to us mobile app for trading on the go


  • Enforces Pattern Day Trading restrictions (accounts need to maintain a daily equity balance of at least $25k)
  • Limited mobile app features

What Should Online Stock Brokers for Beginners Do?

As you hunt for the best online stock broker for a novice—such as yourself—remember that the broker must make your life easy. If you feel confused or overwhelmed, you might be in the wrong place. To that end, the best stock brokers for beginners tend to:

  • Almost oversimplify the interface: This ensures that you know what’s happening, how and why.
  • Offer educational content: A stock broker built for beginners should educate you about the markets, stocks, why to invest, when to invest, etc. You need to learn as much as you can to make investing fruitful. Moreover, you should seek out platforms that allow you to copy popular investors, try a demo account, watch videos or even take investing classes.
  • Feature impeccable customer service: The best stock brokers—irrespective of their focus—should feature impeccable and accessible customer service. Live chat, phone numbers, emails and even a physical address help you reach out to the broker effectively.
  • Offer a diverse collection of assets: As you learn to invest, you want to see a diverse asset selection that allows you to make investments that are appropriate for you. Stocks, crypto, ETFs, options, futures, etc. should be featured. Yes, a beginner shouldn’t be investing in futures or options, but you can better grow with a broker that has all the financial instruments you want as you gain confidence and build your portfolio.

Why Do Beginners Need Quality Brokers?

Online brokers specializing in beginner investing can make the sometimes-confusing stock market easier to master. You’ll want to look for a broker that offers a straightforward account process and makes it easy to buy and sell assets. You’ll also want to choose a broker with a clean, uncluttered interface that allows you to instantly see how your assets are changing in value over time. Most brokers also offer educational tools that you can use to learn more about the market before you jump into trading. 

Assets for Beginners to Avoid

Not every asset is equally as suitable for beginner investors. The following are a few assets you’ll likely want to avoid investing in until you’re confident in your understanding of the market. 

  • Options: Options contracts are assets that give you the right or the responsibility to buy or sell a set number of stocks at a specified price in the future. Multiple types of options contracts exist, and most options expire worthless, which makes them less suitable for beginners.
  • Forex: The word “forex” is short for “foreign exchange.” Forex trading involves the buying and selling of currencies, strategically converting them to profit from the fluctuating value of the world’s currencies. Forex trading requires a high level of technical analysis as well as margin usage, which makes it a risky choice for beginners. You'll also need a forex broker to execute trades.
  • Individual stocks: While there’s nothing wrong with a beginner buying individual stocks, you should avoid putting all or a majority of your investing funds into a single company. Any stock on the market has the potential to drop in value, which means that you can lose money on any stock. Diversifying your portfolio with multiple stocks, bonds and funds can help you protect your investment. 

What to Look for in a Quality Stock Brokers for Beginners

Making the right choice for a stock broker takes some insight into what to look for. Here are the top factors to look for in stock brokers for beginners.

Educational Tools

The best stockbrokers want to make it easy for you to learn more about the market. Look for a broker that offers free demonstrations, video guides and articles to help you learn as much as possible. 

Simple Interface

Some brokers offer a wide variety of charting and analysis tools while others focus on providing a clean, straightforward interface. While you may want to upgrade to a platform with more analysis tools in the future, you’ll want to look for a broker that offers an easy-to-navigate interface with clearly marked tools. If possible, you may want to take a look at a few platform reviews on YouTube before you open an account to be sure that the broker offers a usable interface. 

Quality Customer Service

If you run into a problem with your account, the last thing you’ll want to deal with is an unresponsive customer service team. Look for a broker that offers multiple methods that you can use to get in touch with their customer support professionals. If you work during the standard 9-to-5 hours, you may also want to look for a broker that offers extended customer service phone hours so you can contact them when you’re off. 

Diverse Assets

Diversifying your assets means investing in multiple types of assets to limit your loss in the event that a specific asset decreases in value. Look for a stockbroker that offers access to multiple asset classes (like stocks, cryptocurrencies and funds) to make diversification easier. 

Opening Your First Brokerage Account

Opening a brokerage account shouldn’t be confusing. If you run into trouble opening your brokerage account, don’t be afraid to contact your brokerage’s customer support. And feel confident that this guide to the best stock brokers for beginners will help you make better traders.

After your first account is open, be sure to return to Benzinga’s money section to learn more about investing strategies, different types of accounts that you can use to save and trending assets that you add to your portfolio. 

Frequently Asked Questions


Is Robinhood good for beginners?


Robinhood can be a great option for beginner investors thanks to its straightforward platform and low account minimum — you can begin investing through Robinhood with as little as $5 in your account. Though Robinhood offers only a limited selection of cryptocurrencies, the brokerage allows you to purchase nearly any stock or ETF trading on the major American markets. 


How do beginners buy stocks?


As a beginner, your first step to buying and selling shares of stock is to open an account with a broker. After opening your brokerage account and adding funding, you can buy shares of stock directly on your broker’s platform. The broker will carry out your orders on your behalf and deposit them into your account.  


What should beginners look for in a quality stock broker?


Three things that beginners should look for in a quaity stock broker are education resources, good customer service, and an interface that is easy to use.

About Luke Jacobi

Luke Jacobi is a distinguished professional known for his role as President at Benzinga, a renowned financial media outlet. With a background in business operations and management, Luke brings valuable expertise to his position, overseeing various aspects of Benzinga’s operations. His contributions play a crucial role in the company’s success, ensuring efficiency and effectiveness across different departments. Prior to his role at Benzinga, Luke has held positions that have honed his skills in leadership and strategic decision-making. With a keen understanding of the financial industry and a commitment to driving innovation, Luke continues to make significant contributions to Benzinga’s mission of providing high-quality financial news and analysis.