What’s the best online Brokerage to use?

You get people asking what’s the best online brokerage to use or what’s the best brokerage for beginners. I am going to save you time and money. If you are starting out, it does not matter what you choose.

What’s the best online Brokerage to use?

This is why it does not matter what brokerage you use when you starting out.

If you want to move from point A to point B.

• You can crawl
• You can walk
• You can run
• You can drive with some type of vehicle or tool
• you can fly with some type of invention like an airplane

If you were to ask which one those are better, it would depend on the use and it would depend on whether you have the skill level to use it.

If you are a beginner you ought to just pick anyone brokerage and start. You just adjust as you go.

Example

You pick one and start. As you are learning and tinkering with it. You find out that you wanted to learn to trade options, not invest in regular stocks.

The one that you chosen does not have options. No big deal, now sign up for one that has options.

While you are learning, you find out that what you really wanted to do was futures instead. No big deal, you now sign up for one that have futures instead.

You can have multiples brokerage, when you not longer need one you can closed it. It’s that simple.

Thinking paralysis

What you want to avoid at all cost is thinking paralysis. This is when over thinking lead to not doing anything, so you go no where.

Instead just start and you adjust as you go.

Let me give you an example

There is this individual that wanted to day trade, as soon as the individual signed up for a brokerage account this person found out about PDT.

There is this (pattern day trader) PDT rule in the US that essentially states that if you are using a brokerage account to day trade, you have to have at least $25,000. If you have less than $25,000 then you can only do 3 day trade in a 5 days period.

This individual was a beginner and did not have that kind of money. What do you think happened?

Resourcefulness

This individual was resourceful, by asking how can I bypass this silly PDT rule?

Two answer where found.

• Use a cash account, not a margin account. PDT problem solved.
• Use multiples brokerage margin account, PDT problem solved.

Final thoughts

If you just starting out, just pick one and start learning. As you are learning new things would show up, so you adjust as you go.

What’s best for you may not be best for others, and what’s best for others may not be best for you.

Best of luck