This very much depends on what you are seeking from your broker. Here are just some of the factors that are worth considering.
Fees – different platforms have different fees and fee structures. These are worth comparing to see which is the most suitable for you. For example, if you plan to trade regularly you would probably not want to pay a commission per transaction.
Features – not all brokers offer the same tools and features. It is worth considering which are most valuable to you. For example, you might want your broker to offer you alternative data such as analyst rating consensus
and price targets
and not just technical charts and tools.
Assets – consider what type of assets you want to trade. Now, find out which platform deals with all of them, so you can manage all your investments in one place.
Reliability – while most platforms are reliable, there are a few factors to consider. For example, during the GameStop trading frenzy of 2021, some smaller brokers restricted trading GME stocks. Larger, more established brokers didn’t need to do this, probably because they had enough available cash to guarantee that trades would go through. If you know you want to trade a trending event like this one, then you might want to consider sticking with a larger broker. Additionally, it’s worth finding out what type of support is available if you have any questions about your account.
Education – some brokers offer free educational resources, such as live webinars, videos, written tutorials, and more. If you are just starting out, you may want to consider joining a platform that can help you hone your trading skills.
Reviews – what are other investors saying? It can be a good idea to spend time finding out what traders have to say about the platform they are using.