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Best Online Stock Broker for Beginners in 2021? (how to start) - YouTube
Channel: ClayTrader
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hey it's clay at claytrader.com and in
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this video i want to talk about and
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share with you my thoughts when it comes
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to the best
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online broker to use as a beginner when
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you're just getting started
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i understand there's so much stuff out
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there i can only imagine what it's like
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for beginners right now
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i mean when i got started i thought it
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was overwhelming but
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i mean i i i do feel bad for you uh
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because there's so much out there but
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i just want to share with you a broker
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and that offers a great online platform
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and that's really
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reason number one is their online
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platform and i'll get into more of that
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here in just a second
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but i also want to be very transparent
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up front that if you choose this broker
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who i'm going to talk about and you use
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the link that i give you that is an
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affiliate link
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so yes you will get something they're
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always running promotions with free
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stock and stuff like that but i'll also
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get something
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so i just want to be very transparent
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about that but i can also say oh clay so
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you're only recommending this broker
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because they offer an affiliate that's
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not true at all
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there's another broker out there very
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famous robin hood who has an affiliate
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program
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but i've never recommended robinhood uh
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even though they have that affiliate so
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this is not a matter of me talking about
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this because
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you know they offer an affiliate program
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or anything like that it's just because
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i really think they set you up
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to you know give you that best chance to
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you know learn about the markets
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start to become you know consistent and
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make some money which is you know
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the whole goal with all this now there's
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a couple things that i would argue in my
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mind
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that make a broker that make an online
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platform best for somebody that's a
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beginner number one
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is it just simple how does it look to
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the eye meaning
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when you look around do are things clean
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could you just have to press a button
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and then everything takes care of itself
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or do you have to start with almost a
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blank screen and then have to build and
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build from that point of view
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so simplicity for me very very important
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now you're probably wondering what clay
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but what are the fees
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because i are there's there's no fees
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zero dollar fees
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so yes this is the zero commission
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broker um and i know for a lot of people
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that's important rightfully so
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uh you know nobody's necessarily wanting
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to always pay money to buy and sell
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whatever they're trading so there are no
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fees but really even if there were
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i think that still that should be lower
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down the the latter there because the
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important thing is how does it look how
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easy does it function which is why i'm
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actually starting on the screen that i
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am
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which you can see here on your screen
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and the way you get to this just to
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offer up a little context there because
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this isn't the screen you'll see when
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you first open it up
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but all you do is you click on that
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right there
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and when you you know hover over it just
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says customize
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so you click on that and right from the
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get go you don't have to start from
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scratch you don't have to start from you
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know the
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from the bare bones now if you want you
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could choose the blank layout
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but what i like and again okay theme
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here is beginner but from a beginner
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standpoint
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they give you a bunch of already
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different sort of
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layouts that you can choose from which
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is very important because you get that
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and then boom you're almost up and
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running uh sure you well clay i don't
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want anything that's cookie cutter well
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if you're a beginner you should want
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something that's cookie cutter you don't
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want to be out there
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overwhelming yourself by trying to set a
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bunch of stuff up you just want
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something
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now can you start to you know customize
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it manipulate it maybe change this and
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this as you get more experience yeah
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absolutely i'm not saying you have to
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stick with and use these exact
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you know layouts for the rest of your
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trading career but i mean when you're
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just getting started it's a good spot to
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be in
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so let's just look on this one and let's
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let's just look at you know the normal
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so all you got to do is double click
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and you can see right there everything
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gets populated
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and you have all sorts of different
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areas that you can look at here
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you have you know your let me really
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write there's so much here that is
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customizable
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which is what i like because you know it
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doesn't have to stay like this
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but you have you know you can get your
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quotes you can get you know
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the time and sales this is what it would
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be known as the level twos
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uh you know put orders positions i mean
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so much stuff around here
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and i should note that the markets are
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closed right now as i'm doing this so
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that's why
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you know these charts and stuff like
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that aren't necessarily moving uh but
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just you know to keep that in mind
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uh but you know this is just something
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here where it gives you a very you know
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straightforward look at things
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but even if you did want to just say
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well let me do a little bit of
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customization
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then you could just go here and you look
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over here and this is what i really like
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is
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in all actuality now again i'm not
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recommending that if you are literally
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brand new that you go and start to do
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this
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however in all actuality you know you
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get a little bit of experience and
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i mean because it's so easy it's very
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straightforward to do when you click on
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you know
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the blank layout and then you you know
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they call them widgets now every online
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broker will call them something a little
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different but you have all these widgets
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over here
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and it's really just a question of okay
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well what matters to you what do you
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care about
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and then you can start to add those
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things in so for example for me
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as a technical trader meaning technical
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analysis technical charts
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hey i want charts i care about charts
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what do they look like
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no i'm not saying that's what you have
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to do but hey i do care about charts so
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it's really as easy as coming over here
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and again you have all these little
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areas that you can choose from
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and you just click on and i'll just go
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through them so you can see the trade
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and then you have stocks and then you
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have you know the general things right
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here
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but you can go through each and every
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one of these and get
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all sorts of different information in
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different
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you know settings that would you know be
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available for you so right here you can
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see
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the chart so because i'm a technical
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trader because i make my decisions with
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the chart
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just click on that and you can see right
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here that it can now be moved wherever
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you want
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and from that point of view i'm not
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going to get into wait what am i even
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looking at
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there's lots of other videos you know
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that's that's the classes that i offer
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that teach you all about technical
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charts but the point here being that if
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you
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do want to use charts you know weibull i
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would argue offers
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very very good-looking charts i mean i
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think
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that is is very now you're you are more
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than welcome to disagree you are more
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than welcome to say well clay my human
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eye
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i think those look ugly fair enough but
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from what i've seen and what from
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you know lots of different avenues out
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there i think they're very respectable
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especially again when they are free when
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you when you factor that in
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and there's all sorts of you know
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customization within the you know the
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chart that you can do
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and of itself so i mean just to give you
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an example of how much customization
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there is
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i there you know you can do all these
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sorts of things and you can you know uh
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i mean i see i'm i'm starting to go down
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the rabbit hole of customization that's
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not the point of this video but just
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just realize that yeah when it comes to
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customization you can do all that
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but even the chart that they start you
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off with right here
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you know that's still more than enough
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it's not like you have to go there and
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start to do a bunch of crazy stuff with
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it
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the chart that they would give you is
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you know definitely all you know all you
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would need so i'm just going to get rid
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of that for now but let's say for
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example well clay i
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i've been learning about options i know
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that i want to do options trading
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well right here you can see right there
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options so right there you you
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pull up the options chain and you have
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you know all the different options data
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right there
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so i mean there's a variety of things
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you can you know
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you can move and again customize but
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that's why i say
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it really just depends on what you're
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wanting to do
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maybe you're and actually so let's do
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this too because what i really like now
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with this new version that's come out
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here
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uh is maybe you're like well no no clay
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i'm i want to i want to do crypto i'm
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looking to trade you know whatever
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current or cryptocurrency you want well
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down here you can see that they've
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actually added in
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a new crypto trading format so you can
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do right there
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and there you go you have all sorts of
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uh you know you have
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again the chart you have you know the
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various cryptos up here that are at
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least popular at the time that i'm doing
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this video
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and you have you know various other
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things you have the order box right here
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i mean when you buy and sell and i
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should note that that's another thing
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when it comes to
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simplicity i mean it really doesn't get
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any more simple than this
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are you looking to buy or are you
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looking to sell you just click whatever
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you want
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you click in you know the quantity how
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many what type of order
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you type in you know the price and i
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mean it's just literally
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all right there for you in a very simple
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way
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and there are i mean there's just really
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so much you can do with it but
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when you're starting you don't need to
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go down every little rabbit hole and
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then when it comes to let's see where is
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that yeah
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screener i mean there are all kinds of
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screeners you can set up now screener is
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just a way for you to
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look for a particular set of you know
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situations in terms of stocks or
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whatever like well i want a stock
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that has this this and that going on
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well that's what a screener is you can
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set certain criteria
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and then you can go and find those areas
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and that's what's going on with this is
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they have a great
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screener they have all sorts of stuff
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you can do with it and i mean i could
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probably do a half an hour video just on
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the screen alone in terms of setting
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things up
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but you know that's not the point of
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this video
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here you can click on markets and this
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is a pretty pretty neat
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uh page right here again i did not
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customize any of this this is what you
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get
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so this is just you know right here but
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you can just look around the market and
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you can see
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you know if you care about global
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markets it's all right there if you care
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about
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just the main markets in the united
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states you can carry or you can see all
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that
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uh they have and i always like heat maps
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down there to see you know what sort
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of stocks are you know very popular
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within certain
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uh sectors and i mean there's just so
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much stuff down here that
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you can keep an eye on and once again
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and even little things like this ipos
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hey what sort of ipo's are coming and
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you know you can pull this up and
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there you go now you know what sort of
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ipos are going to be coming up
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so if you're somebody that likes to
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trade those uh you know that that works
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too and you can you can have that but
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there's all sorts of varieties of ways
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you can find socks just have an idea of
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what's going on
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if you're somebody that likes uh you
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know
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tech or the you know so if you care
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about
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the financials i mean just really
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they're just that quick finding the
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financials about things you know you can
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click over here to the balance sheet
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you have the cash flow statement i mean
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and all this stuff is just right here
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for you
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uh right in the platform so it's not
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like you have to go to start digging
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through a bunch of
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other sites you just go up to the
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financials right there uh if you care
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about what the analysts are rating i
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mean right there you can see
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uh that you know they have all sorts of
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information there so i mean i'm not
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going to go through every little thing
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but i mean you can just see all the
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little
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boxes up there allow you to go and
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search you know whatever you care about
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but
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my point here is you got it all in one
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place and if if it's visually appealing
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to your eye
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then you know this would be a broker and
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a platform that i i would say
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makes sense to to you know be
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considering
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i'll click on market scanner yeah
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customize oh yes and then paper trading
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if you paper trading just means
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simulator trading means kind of pretend
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trading so that you can practice
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so that you can quote unquote trade but
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it's just not with real money so the
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good thing is
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if you lose money it's not actually real
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money the bad thing is if you make money
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it's yeah it's not actually real money
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but
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that's okay because when you're trying
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to practice and you know paper trade
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that's what you want and they allow you
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to have an entire paper trading system
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uh so again you click on the paper
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trading and same exact
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you know premise you can build something
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from blank or you can just use one of
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their other system
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or one of their other default uh layouts
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there but the platform does also give
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you the ability
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to do simulator trading uh demo trading
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paper trading
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those are all the same things but it
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allows you to practice with the platform
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itself which is always good that way
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you don't have to practice with some
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sort of simulator and then you come over
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and it's totally different
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and then you kind of gotta figure out
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and it's a little kind of uh
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nothing like that it can be a perfectly
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smooth transition
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so you have all that and then of course
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your watch list you know you can build
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watch lists however you want
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um and you know just uh really make it
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very true
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straight for yourself in terms of what
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sort of stocks you're you're watching
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so i mean it really does have all sorts
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of stuff and like i said going back to
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the customized thing
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let me just get rid of so again crypto
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hey do they offer crypto yes they
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absolutely do
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and then you know you come over here and
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i mean truly so many things that you can
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go through and
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you know watch and monitor and go again
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right there financial statements
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so i mean whatever you're you know
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looking at you can just pull that right
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up there
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so i don't know let's take a look at
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facebook real quick so facebook click on
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that and you see how fast that loaded
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i mean super fast so facebook's balance
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sheet cash flow
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uh what about uh my old company i used
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to work for let's
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look at honeywell there we go honeywell
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you have all this information here
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so it's all right at your fingertips and
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i think displayed in a very efficient
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and visually apparent uh way and then
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let me get rid of that and then i won't
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just go back to because i mentioned it
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earlier but i want to spend a little bit
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more time on it
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but order entry so i mean as far as
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order entry is concerned they give you a
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couple different ways to do it
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but you just can click on oops that's
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not what
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i want to do but just to keep an eye on
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there's all sorts of and
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right here that's the other thing i'm
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glad i did at it price ladder i know it
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seems like the price ladder is getting
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more and more popular
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i'm not saying there's any sort of like
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holy grail behind it or that it's some
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sort of like
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secret magical pill that will all of a
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sudden cause you to make a bunch of
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money my point is is it seems to be
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getting more and more popular
[780]
and i've had questions come in hey does
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uh you know weeble
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hey does you know such and such broker
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offer a price letter
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and yes they there is all you know there
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is a
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price letter that you can use if you
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want which goes back to kind of where i
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started and we'll all and
[795]
it really just depends what you're
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looking for what you want but if you are
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looking to trade
[800]
stocks options cryptocurrency then this
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is a setup
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that is very solid for you maybe in the
[806]
future they'll have futures trading
[808]
and forex trading stuff like that but as
[810]
of now those are gonna be the three main
[811]
things so if you are looking if you're
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interested in getting involved
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in stocks options or crypto then yeah
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consider weeble
[818]
and hopefully this kind of behind the
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scenes look uh into what you
[821]
will get you know offers up help
[823]
especially if you
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want to use charts especially if you're
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going to be a technical trader
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then to consider it i think these charts
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look great but even if you're not even
[831]
if you want to trade based on
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fundamentals
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and you want to go through cash flow
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statements and stuff like that then this
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also offers you
[837]
a very efficient way to go through all
[839]
that so hopefully this helps hopefully
[840]
this can kind of at least point you in
[842]
the right direction
[843]
for those of you that are beginners and
[844]
wondering i don't know what what's
[845]
really best
[846]
uh and you can check them out and again
[848]
like i said if you use the link down
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below
[850]
then you will get something i will get
[852]
something also i don't know what that
[854]
something is just because
[855]
they're always changing the promotions
[857]
uh sometimes it's stock sometimes it's
[859]
just a cash
[860]
uh you know reward for use for signing
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up and using the link um
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but i will also say that in order to get
[867]
the platform in order to get all the
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information and data and real-time data
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and you know even the
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if they are offering a promotion you do
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need to deposit 100 now that's not a
[875]
cost
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meaning you can use that hundred dollars
[878]
to trade with but you do have to deposit
[880]
the 100
[880]
if you want to unlock all the features
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and unlock you know the platform to its
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full capabilities
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which is awesome and powerful because
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you can get
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so so customizable but as i also showed
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you can start off
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at bare bones and just start off with
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some sort of template
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and then just work from there and get
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more and more advanced as you want so
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something for everybody even if you're
[900]
not a beginner if you're if you're
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somebody that's like no i'm not like a
[902]
beginner but
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i'd feel comfortable enough how many
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choices can i have well there's lots of
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choices where you could you know
[907]
customize the platform
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like you saw however you see fit so like
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i said hopefully this helps like i said
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click the link down below if you want to
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get a free stock or whatever the
[913]
promotion is running deposit that
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hundred dollars and then yeah you can
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use that hundred dollars to go and get
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started trading
[918]
so hopefully this helps if you have any
[920]
questions or anything like that leave
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those down below
[923]
first off thanks so much for watching
[924]
the entire video real quick before you
[926]
go
[927]
i want to invite you to a live webinar
[929]
web class training workshop online event
[932]
whatever you want to call it but it will
[933]
be me live
[935]
revealing to you what i discovered that
[937]
has allowed me to transform myself from
[939]
being an
[939]
employee to being my own boss including
[943]
how i had only one losing day out of 73
[945]
days in total
[946]
i'm going to cover three keys that have
[948]
helped me unlock
[950]
profitable consistency within the
[951]
markets the first key is super weird
[954]
but in a productive type of way the
[956]
second key is super awesome because it
[958]
quite literally is wired into our dna as
[960]
humans
[961]
making it very easy to use but in a
[963]
cruel way
[964]
this becomes a pitfall for many traders
[966]
i'll explain it all though
[968]
including how to avoid the pitfall that
[970]
it creates for some and yeah the third
[972]
key when you hear it
[973]
sounds way too good way too good to be
[975]
true but it's not and i'll show you
[977]
how it all works then at the end i open
[979]
it up for a question and answer session
[981]
that is again
[982]
totally live even if you can't make the
[984]
live session please still sign up as it
[986]
will be recorded
[987]
and you can go back and watch the replay
[989]
that i will send you
[991]
click the image on the screen or click
[992]
the link down in the description box
[994]
so you can get the date and time and
[996]
claim your spot which i should note
[998]
is limited due to the fact that this
[1000]
truly is a live event
[1002]
if you have any questions let me know if
[1004]
not i'll be seeing you soon
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