✔️ Information reviewed and updated in April 2024 by Pedro Martínez González
Starting to trade is not as simple as registering on a platform and now, it is necessary to know the broker thoroughly to take full advantage of all its power. If you are a beginner, here we will tell you which are the best brokers to start with. Remember to also visit our section with the ranking of most recommended brokers of 2020.
Plus500 💸
✅ Plus500, mostly famous for sponsoring Atlético de Madrid, this broker also stands out for having one of the easiest platforms to operate. Its version for both PC and mobile application is very easy to use, since it has an intuitive design.
Among the advantages offered by this broker is its wide catalog of assets and the possibility of making different types of investments. The data, statistics and tools they offer are very complete, to the extent that many may come to consider Plus500 as a broker only for experts or people with experience.
Fortunately, there are many tutorials and courses which make this one of the best brokers for beginners, they really do provide a lot of different resources. In addition, this broker offers the possibility of creating a demo account, which will allow you to familiarize yourself with all the functions and tools it offers without putting your money or investment at risk. In general it is a very good idea from where you look at it.
I turn 💸
One of the reasons that Degiro has become one of the best and most popular brokers is the cost of its instruments. For example, their ETFs are much cheaper than on other platforms, that's right, here you can find ETFs almost 80% cheaper than at any other broker.
Another big reason why Degiro has become so popular is the fact that it charges few commissions, so you won't have to spend a lot of money on paying commissions. As if that were not enough, it has a huge variety of instruments and assets for you to invest.
In addition, Degiro specializes in the development of inhouse tools, which improves the experience and precision of its functions. Although it does not have a free or demo mode of operation, you can open an account for less than 1 euro and thus know its very simple and intuitive trading platform. Degiro is an excellent option.
eToro
✅ We have all ever seen an eToro ad on Facebook, this is a fact. And it is no coincidence because the growth of eToro is being practically exponential, thanks to the fact that its design is thought to be very simple, ideal for beginners, thus allowing you to access all types of investment assets.
With more than 4 million operations in 140 countries, eToro works through a system called Copy Trading (or copy system) which allows to operate in a simple way and allows to see and follow operations of traders with success in the markets. That is, you can copy trades to successful traders.
The regulations of various financial institutions allow to guarantee the security of this broker which fully complies with each of the requirements to operate and provide confidence. Without a doubt, it is an excellent option for both beginners and experts.
📌Your demo account will allow you to begin to familiarize yourself with the platform, which is a great benefit especially for beginners. Keep in mind that the initial deposit must be $ 200 to be able to trade, which can be a bit high for some users. 📌
XTB 💸
✅ If we talk about this broker, there are three characteristics that make XTB one of the best brokers for beginners. The first is the large amount of information that it puts at your fingertips, since XTB has many courses, a really extensive blog and virtual events for its market in Spain and Latin America. In terms of educational resources and aids for traders, it is one of the most complete brokers on the market.
The simple and easy to understand design of the platform is another reason why XTB has positioned itself among the most used by beginners in trading. Its interface is not only friendly, almost as simple as Instagram, its tools are also very easy to understand, as well as its data and statistics are ideal for inexperienced people.
Finally, you should know that XTB has regulations in different countries of the world such as France, Spain or Germany, which will give you a lot of security. In addition, its initial deposit is very low and it offers you the benefit of being able to create a free demo account.
Bankinter 💸
✅ Although this is one of the best brokers that do not offer a demo account, Bankinter stands out for its portfolio of investment instruments. Here are grouped the most popular options on the market, as well as the safest so we can find ETFs, futures, stocks and more.
Its own platform and the support of the Bank of Spain in its regulations will give you the confidence you need to open an account at Bankinter. Another reason why you should consider this platform is that its minimum deposits are very low, so you can have almost whatever capital you want.
📌Although its commissions can be high, Bankinter justifies it well with investment returns. In addition, it has a wide range of information, courses and glossaries so that you can learn more about Trading. This will help you improve your operations and earn more money. 📌
Some points to consider when 🔍 looking for a broker:
- ✅ Regulation and safety ✅ : Trading with an unregulated broker can be very dangerous, since you put your money and information at risk. The best thing is to operate with a broker regulated by financial institutions and with the best protection measures.
- 📊 The platform: You must take into account how intuitive the broker is, if its platform is made to be simple or is medium complex. In addition, evaluate the tools it offers, the difficulty with which it presents the data and if you can use it in a mobile application or only from its website.
- Demo account: Is it possible to open a demo account? This is a very good idea to test the broker, their platform, their customer service BEFORE depositing money.
- Technical characteristics: Another very important point is the technical characteristics of the broker, that is, its commissions, minimum deposit amounts, withdrawal times, portfolio of instruments or investments, etc. All this will have a direct impact on both your experience and your investments and their results.
- Experiences of other users - Broker reputation: They say that a review says more than a thousand posts, that is why we recommend you learn more about the experience of other users with the broker. This way you will know if it is reliable, if it offers good operating conditions, if it fulfills all the benefits it promises, etc. An extremely important and often overlooked point.
- 🔍Your own research: We recommend these brokers, as well as those from the list of best brokers, but it is only a recommendation, read various reviews, do your own research, choose yourself according to your needs as a trader.
Very good explanation, it has clarified my doubts and I have understood it perfectly! Thank you!!