FAQs about online brokerage accounts for beginners

A brokerage account is a financial account used to buy and sell investments like stocks, bonds, and funds. Your brokerage account can hold both cash and investments.
Some brokers may try to sneak in an annual account fee, inactivity fee, and other charges. The best brokerage accounts don’t have any fees outside of some transaction fees for options, futures, bonds, etc.
Since October 2019, stock and ETF trading fees are dead. If your broker charges fees to buy or sell a stock, it’s time to upgrade. Options no longer charge a base transaction charge either, though per-contract fees are still standard. Most brokerage firms offer a list of no-transaction-fee mutual funds as well.
You have to deposit funds to your brokerage account just like a bank account to get started. Once your account is funded, use your broker’s mobile app or web platform to enter your first trade.
Yes! Traditional brokerage accounts lead to taxes if your strategy goes well and you make money. IRA, Roth IRA, and other retirement accounts offer tax advantages ideal for retirement.