Which is the best broker for a beginner investor with low capital?

I don't buy stocks and I don't currently use any brokerage platform, but I read this article which I found very useful for a complete beginner like me. It's written by Chris from TortoiseMoney.

I think it's pretty hard for all brokers to tick all the boxes but, I think TD Ameritrade ticks many of the boxes:

1. Low capital requirement

2. Free comms

3. Close to Spot FX

4. I would say the desktop interface is pretty solid

5. Secure (as an established broker with 46 years of history)

The main downside is super long account approvals (not sure if it's getting better now hahahah). For reference, I applied in Sept and got it around Feb-ish so yeaaaa. Also their customer service has been known to be unresponsive at times (which I guess also explains the long account approval). Also another downside would be that you're restricted to the US markets only.

An alternative (if you're only looking at certain ETFs) would be FSMone:

1. Low capital requirement

2. 0.08% comms (min USD1 on RSP)

3. Spot FX

4. Pretty decent browser interface and app interface

5. Trustworthy since Fundsupermart has been around for around 10+ years.

6. Also a lesser known bonus, transfer of positions from FSM to another broker is free of charge! hooray!

7. Can link to CDP which is great if you want to sell anything there!

Downsides are dividend handling fee on all dividends paid out and that comms on normal stock purchases are at min USD 8.80 (SGD10). But if you're only going for ETFs that are on their RSP, FSM poses a great value proposition.

For myself I use IBKR, but I trade quite a bit so the inactivity costs don't really affect me. But for those with small capital intending to buy and hold, the inactivity charge can be quite a pain.

If you wish to check out other brokers, you can check out a post I wrote here!