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Best Trading Platforms For Beginners – Full Guide

Find the perfect trading platform by reading our reviews of five providers.

Are you a beginner wanting to get into trading or a seasoned investor looking to reach new investment goals?

Whatever your personal circumstances, you’ll need a good trading platform to try your hand at beating the market and help you manage your investments. There is a myriad of services to choose from, all offering different features and fees, and deciding between them all can be daunting.

In this guide, we have analysed fees, account options, customer service and features to produce a list of the best trading platforms for 2023. We will also cover 5 key factors you should keep in mind when making your selection.

eToro - Our Recommended Trading Platform

Our Rating

eToro exchange
  • CySEC, FCA & ASIC regulated - Trusted by Millions of Users
  • Trade Crypto, Forex, Commodities, Stocks, Forex, ETFs
  • Free Demo Account
  • Deposit via Debit or Credit card, Bank wire, Paypal, Skrill, Neteller
  • Copytrade Winning Traders - 83.7% Average Yearly Profit
eToro exchange
68% of retail investor accounts lose money when trading CFDs with this provider.

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Contents [show]

    Best Trading Platform in UK, US & Australia

    The most beginner friendly site for English speaking that are beginning in online trading is eToro.

    eToro - Top Choice for Crypto and Copy Trading

    eToro is a well-known brokerage and investment firm founded in 2007, and boasts over 10 million registered users. It allows you buy the underlying assets for crypto and stocks, as well as trade them with leverage. Please note that only cryptocurrency is accessible for US customers - stocks will be added later this year.

    eToro is most famous for its copy trading feature which allows users to mimic successful traders and copy their trading strategies and portfolio in a few clicks. Some of its popular investors have achieved triple digit annual growth with their portfolios.

    When it comes to safety, eToro scores high : it is regulated by top-tier financial authorities including CySEC & FCA and ASIC.

    eToro also offers a crypto wallet where investors can store their coins after purchasing them from the platform as well as easy to access cryptocurrency trading with 15 coins supported. It's certainly the best online trading platform for crypto.

    The platform offers great customer support service available 24/7 from Monday to Friday and a large variety of assets spanning crypto, forex, stocks, ETFs, commodities and bonds.

    eToro is a fantastic online trading site for beginners and those looking for a simple, interactive social trading experience. However, this brokerage may not be suitable for those looking for advanced trading features such as customizable technical analysis and research tools.

    The minimum deposit is just $50 for US and Australian customers, and $200 for the rest of world of the world. Deposits over $10,000 are likely to qualify you for VIP account management.

    2021 update - eToro has now also launched staking rewards for Ethereum, Cardano and Tron. All users need to do is buy and hold some ETH, ADA or TRX in their free secure eToro wallet and they'll automatically receive staking rewards.

    Assets: Cryptocurrencies, Stocks, CFD, Forex, ETFs, Commodities

    Demo Account: Yes

    Educational Material: Great educational material for both beginners and advanced traders

    Fees: $5 Withdrawal Fee, $5 Inactivity Fee, No Account Fee, No Deposit Fee

    Minimum deposit: $200

    MT4/MT5: No

    Special Features: Copy Trading and social trading platform

    Regulation: CySEC, FCA, ASIC, MiFID

    Payment methods: Credit/debit card, Paypal, Sofort, Rapid transfer, Skrill, Wire transfer, Neteller, WebMoney, UnionPay

    OUR RATING

    • Social trading leader
    • Best mobile trading platform
    • Paypal accepted
    • Limited technical analysis tools
    • Not well-suited for the more advanced investor
    • $25 withdrawal fee
    68% of retail investors lose money when trading CFDs with this provider

    Best Site for Intermediate Traders

    If you’re looking for a more professional site to perform deeper technical analysis then Huobi is a good option.

    Recommended Auto Trading Platform 2023

    If you are a complete beginner and have limited free time, there is also a platform for you. Most of the services on this guide are brokerage companies where you have to trade manually. However, there are auto-trading software you can use to trade the markets with little experience required. One of such software is Bitcoin Trader.

    Top Online Trading Platform for U.S. Stock Traders

    If you’re looking to trade on the go, the best trading platform to do so is Stash Invest. They are available to U.S. customers only and offer a free $5 bonus when you sign up.

    Best MT4 Broker

    If you’re a more experienced trader who wishes to trade forex currency pairs and analyze the financial markets, you may want to use a trading site that supports MT4. MT4 (Metatrader 4) is a trading platform that offers advantages such as mobile trading, trading signals and Expert Advisors, which can enhance your fx trading experience.

    Libertex - Trade Forex, Stocks & Crypto with up to 30:1 Leverage

    While Libertex may not be our most recommended trading platform for the UK, we do consider it to be a reputable broker. It is regulated by CySEC, one of the most trusted regulatory agencies in the industry and they offer a reasonable selection of financial products and a smooth online trading experience.

    Libertex has built their proprietary platform which offers a variety of technical analysis tools, making it one of the best trading platforms for users looking for advanced tools such as momentum indicators, moving averages and Japanese candles.

    This trading platform offers MetaTrader4, giving you access to customisation as well as trading signals and technical indicators. Libertex provides a trading robot provides which supplies a list of the top 10 rising and the top 10 falling instruments of the day to facilitate your investment choices. It also offers a demo account.

    The broker does have some flaws though. Its asset variety is not as wide as it is for Huobi. In fact, this trading platform only offers 250 instruments. However, it is a fairly new trading site, which means that it might improve its asset variety with time.

    It is also not available to U.S. customers and we find it to have a lack of educational resources. We would not recommend this platform to beginners, as it is more suitable for the seasoned trader looking to get access to advanced technical analysis features.

    Assets: Forex, Indices, Commodities, Stocks, ETFs, Cryptocurrencies

    Demo Account: Yes

    Educational Material: Lack of educational resources

    Fees: $10 Inactivity Fee, and Charges Transaction, Withdrawal and Overnight Fees

    MT4/MT5: Yes

    Special Features: List of top 10 rising and falling instruments of the day

    Our Rating

    • Easy-to-use trading platform
    • CySEC regulated
    • Minimum deposit of $10
    • Non-trading fees are charged
    • Offers 250 financial instruments only

    How to Choose a Trading Site

    1. Fees

    One of the first things to consider before choosing which trading platform to invest your money and time on are fees. While trading can be a profitable way to invest, commissions and fees can really eat into your profits, so choosing an affordable platform is essential. There is significant variance between trading platforms when it comes to fees, but in general, you should be aware of the following charges when selecting a platform:

    Account minimums

    The first expense you will have to face when online trading is the minimum deposit. Trading platforms often charge minimum deposits, which are not actual fees because it is money that will be immediately available in your account once you deposit it, however it is worth keeping in mind especially if your capital is limited in which case you may need to raise funds to begin trading. The lowest minimum deposit platform is Stash Invest, which requires $5 only to place your first trade, making it the best trading platform for investors who may have a limited capital to begin with.

    Trading fees

    Trading fees are the most common when it comes to online trading platforms. These include commissions and spreads. Brokers may charge fixed spread,  variable spread or commission based spreads. It is important that you read about the platform’s trading fees in detail before you begin trading as this can affect your bottom line. Some brokers may also have hidden overnight trading fees. eToro is a great choice for U.S. customers as they have one of the most affordable, transparent trading fees.

    Deposit fees

    Deposit fees are applied when you send money to your trading account from your bank account. Most platforms tend to offer free deposits, but if you are depositing funds with an international bank card, you should watch out for conversion rate fees.

    Withdrawal fees

    Some brokers may charge a fee when you withdraw your funds. eToro, for instance, charges $5 fee on all withdrawals. The minimum withdrawal amount is $50.

    Inactivity fees: Many trading platforms also charge an inactivity fee when you stop trading for a given period of time. This means that yiu need to be strategic about your trading activity to avoid getting charged after a longer time of no trade. If you are a buy and hold investor, you may want to avoid platforms with such fees.

    Account fees: It is not uncommon for some trading platforms to charge an account fee in the form of flat monthly payments, especially when it comes to Australia share trading platforms or stock trading platforms such as IG. None of the platforms in this article charge account fees.

    The cheapest platform in the brokers we listed is Stash Invest, with fees starting at $1 per month. Y0u can also try Huobi.

    2. Platform 

    Trading tools

    The trading tools available depend on the actual trading platform you are using. We consider MetaTrader4 or MT5 to be the best trading platforms out there. The only broker out of the ones we listed that uses MT4 is Libertex. The other platforms use different types of trading spaces, even though they are equally efficient.

    Speed and order execution

    The execution speed is a vital element to consider especially for a day traders. When trading or investing in fast-moving markets, the difference between losing and gaining thousands of dollars can boil down to a few milliseconds. Therefore, we suggest making sure that the platform you choose can keep up with your trading demands.

    Copy trading

    Some trading platforms offer the copy trading option, which allows traders to place the same trades as professional traders.  This particular feature is what makes eToro stand out from the crowd. We consider it to be one of the best social trading brokers, and an ideal choice if you are a beginner and do not have a clear trading strategy in mind yet.

    If you’re more experienced, Huobi offers a fantastic trading platform.

    3. Asset Classes and Variety

    Another thing to consider when choosing your online trading platform are the types of assets they offer and the variety. Asset variety and diversification are one of the most fundamental trading strategies and can help take your trading to the next level by balancing your portfolio and offsetting  risks.

    One of the reasons why Huobi is among our most recommended trading platforms is its asset variety. You will be able to choose between over 1000s of instruments.

    4. Regulation

    Regulation is another important factor to consider when choosing an online trading site. Whenever we review trading platforms, one of the first things we look at is whether or not they are regulated by financial bodies.

    Holding a license means that agencies monitor how the investment firm’s operations closely. To maintain their regulatory status, the company has to abide by rules designed to protect the interests of customers.

    Most of the platforms we recommend in this article are regulated. The best trading platforms for regulation and security include eToro for instance (CySEC and FCA) and Huobi (CySEC, FCA, ASIC)

    5. Usability

    Usability has to do with the ease of use of the trading platform in general as well as the sign up and verification process. After all, if you are serious about investing, you may end up spending a lot of time on the platform, so you want to avoid as many obstacles as possible. All the platforms we recommend have fairly simple sign up processes and intuitive interfaces.

    Another thing to take into account in online trading is that many people confuse complexity with effectiveness. Most novices get overwhelmed when they find a platform that offers multiple features. They think that a complicated platform translates to an effective one and forget the concept of user-friendliness. Getting access to numerous features will not make you a successful trader.

    A trading space that you find too complicated may actually overwhelm you and prevent you from making the most out of your trading experience. Make sure you familiarise yourself with the broker’s platform before you start investing on it. If you do not feel comfortable with it, we suggest moving on to a different trading platform.

    If you’re looking for ease of use, try Bitcoin Trader. This software works on auto-pilot and does not require your intervention.

    Conclusion

    When deciding between online trading sites, it is important to understand your investing goals and personal circumstances. Before you make your choice, assess your funds, risk tolerance and trading experience. You should also consider the trading platform’s fees and features available and whether they align with your trading style. For example, day traders who open and close multiple transactions per day should consider a platform with speed and low fees, whereas investors looking to trade forex may wish to use a service where leverage and margin trading is available.

    Our overall recommended trading platform is eToro. They are the most beginner-friendly option and offer a flawless trading experience, with educational resources, reasonable fees, a large variety of assets and social trading. You can find out more about this fantastic platform in our eToro review.

    eToro - Our Recommended Trading Platform

    Our Rating

    eToro exchange
    • CySEC, FCA & ASIC regulated - Trusted by Millions of Users
    • Trade Crypto, Forex, Commodities, Stocks, Forex, ETFs
    • Free Demo Account
    • Deposit via Debit or Credit card, Bank wire, Paypal, Skrill, Neteller
    • Copytrade Winning Traders - 83.7% Average Yearly Profit
    eToro exchange
    68% of retail investor accounts lose money when trading CFDs with this provider.

    FAQs

    How do I begin online trading?

    If you've made the decision to start online trading, you should start by finding a good online trading platform by choosing one of the sites listed on this page.

    How quickly can I begin trading after opening my account on a trading platform?

    After you've signed up for an account, you'll need to deposit or transfer funds to the online trading platform and start investing. You may also need to go through KYC & verification process if you're using a regulated broker such as Huobi or eToro. This can take 1-2 working days.

    How do I decide whether a trading platform is right for me?

    Some important criteria to consider when evaluating any trading platform are your funds, the type of assets you intend to purchase, your technical needs, trading style and how much you intend to transact.

    How much money do I need to start online trading?

    The Stash Invest platform has no no account minimums for both IRAs and taxable trading accounts. Once you sign up for an account, all you need to get started is enough money to meet the cost of a single share of stock as well as the trading commission if required. The other platforms listed on this page may require a minimum starting from $100 to begin trading

    Is trading safe?

    Any form of trading comes with a certain degree of risk, and online trading is no exception. As long as you conduct meticulous research and only use established online trading platforms, your investment will be safe. If you want to be extra cautious, go for a regulated platform where you will benefit from fund protection.

    A-Z of Trading Pages

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    eToro - Best Social Trading Platform

    eToro - Best Social Trading Platform

    eToro - Best Social Trading Platform

    Visit eToro

    68% of retail CFD accounts lose money.

    eToro - Best Social Trading Platform
    Visit eToro

    68% of retail CFD accounts lose money.

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