Which trading account is best for beginners?
Asked 4 years ago
Hi, I'm completely new to trading and investments. What type of trading account would you recommend I start out with?
Andrew Moran
Thursday, November 11, 2021
First, it would be a prudent move to begin with a demo account to become familiar with how stock trading works.
After this is done, you need to open a zero-commission trading account. This can be achieved on a platform like Robinhood, TD Ameritrade, Fidelity, and Wealthsimple (if you're in Canada).
Some trading platforms are bare-bones, meaning that you can do the most basic of trading functions, like buying and selling stocks. Other outlets allow you to short stocks, trade options, and engage in various order types.
Also, be sure to start small and only invest what you can afford to lose. You do not need to find the next hot stock. Instead, you can invest in blue-chips and index exchange-traded funds (ETFs).
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