Best brokers for beginners in Taiwan in 2023 - Fee comparison included (2024)

Table of contents

Top brokers

While many online brokers suitable for beginners offer an excellent service, the ones in our toplist go the extra mile.

Popularity of the best brokers for beginners in Taiwan

Interested in what others think? Here's how many people chose these brokers at BrokerChooser in the last 6 months.

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Non-trading fees are charges that are not directly related to a trade and typically include the account maintenance fee, deposit/withdrawal fees and the inactivity fee.

And now, let's see in detail the best online brokers for beginners in 2023 one by one.

#1 Best broker for beginners
Alpaca Trading

Recommended for traders interested in algorithmic stock trading

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#2 Best broker for beginners
EasyEquities

Recommended for long-term investors focusing on stocks and etfs

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#3 Best broker for beginners
TradeZero

Recommended for investors and traders interested in commission-free trading and a focus on us stocks and options.

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#4 Best broker for beginners
Firstrade

Recommended for beginners and investors looking for zero-commission trading, focusing on the us market

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#5 Best broker for beginners
Swissquote

Recommended for affluent investors who value safety and are ok with higher fees

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#6 Best broker for beginners
SogoTrade

Recommended for stock and options traders with a us focus who value great customer service

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Answer a few questions and get a personalized broker list!

• We conducted interviews with newcomers who had little to zero trading experience trading.
• We checked whether brokers offers educational tools, like a demo account or learning material.
• We opened an account and tested the trading platform with our own money.
• We looked at how easy and user-friendly it is to open an account for beginners.
• We checked how easy it is to understand fees for new users.
• We also checked and compared 101 brokers with a special focus on fees and their trading platform.

Save hours of research!

Our expert team has done all the work for you, and reviewed brokers based on BrokerChooser's unique methodology.

Which broker should I use as a beginner?

Low fees and an excellent mobile platform make a broker great for beginners. Beginners can also benefit greatly if a broker has excellent educational material, and tools, such as a demo account. The best way to start your journey in the world of investing is by learning. We provide a great starting point on our education page, where you can find a lot of useful learning materials. Here we give you some tips on how to start investing. To find the best online broker for your level of expertise and risk-tolerance, use our find my broker tool.

Where should a beginner invest in stocks?

Before you make stock investments, you should draw up a plan, which involves several basic questions you ought to think about, such as what is your objective, how much time do you want to spend investing and what level of risk you want to take. For beginners, one of the best ways to to starting investing in stocks is choosing an index fund or stock mutual funds, which are an easy and low-cost way to tip your toe into the stock market. We put together a guide on how to start investing in stocks, and how to buy shares online. We explicitly guide you through how to invest in stocks. We also give you tips on how much you should invest when you are starting out. You can also browse through our top recommendations for best trading platforms for stocks.

Is trading gambling?

Trading is not gambling, although some poeple might treat it like that, but they will learn quickly that gamblers lose their money. The goal of a trader is to make predictions that will be as accurate as possible to make money, while gamblers can't predict anything, they bet. People who trade for the thrill of it, or because they want to prove something, or can't accept losing on the market from time to time, and don't have a plan or consistency, are trading in a gambling style. New online trading apps have recently come under the spotlight for bringing a gambling aspect into trading. The gamification of trading, with easy-to-use online platforms, little education for retail traders and the social pressure of 'FOMO' also contribute to a gambling attitude on the market. Serious traders should consider their objectives, their attitudes to risk, and carefully devise an investment strategy when entering a market.

Is trading hard to learn?

Trading is not diffficult to learn if you invest enough time and energy into it. But that is a big if. Plenty of people trade, but the more time you spend studying trading, the more you practice, - as with everything else -, the better results you can expect. Knowing yourself, your attitude to risk-taking, and being patient and disciplined are also crucial factors if you want to be successful. Keep a cool head, don't look for easy money, commit to studying trading and always have a trading plan. Our aim is to make personal investing as clear and accessible for you, as possible. Our educational page is a good starting point. You can also learn from our expert traders about the difference between investing and trading, and learn here about how to become a trader. You can also learn about different investment strategies from us.

Want to learn more?

Check out these articles written by our broker and trading experts:

• Investing your money on your own
• The difference between trading and investing
• How to open a trading account
• How to buy shares online
• How to buy ETFs online
• How to become a trader
• Forex trading explained

Here is a glossary to help you with some terms in our review:

Inactivity fee: a fee that is charged when a customer has not done any buying or selling on their brokerage account for a specific amount of time determined by the brokerage.

Withdrawal fee: an amount you need to pay when you withdraw money from your trading account to your bank account.

Deposit fee: this is charged when you send money to your trading account at an online broker. The fee may differ depending on the method of transfer (i.e. bank card, bank transfer, e-wallets, etc.).

Regulators: these are official bodies established by governments or other organizations to oversee the functioning and fairness of financial markets, including markets, exchanges and firms. They also oversee that investors are not fooled by scams, and in case of wrongdoing, they try to provide some level of financial and legal backing.

Investor protection: this means that up to a certain limit, you get your money back if the broker goes into bankruptcy or commits fraud.

Non-trading fees: charges not directly related to trading, such as deposit/withdrawal fees or inactivity fees.

Trading fees: these are charged when you trade; for instance, in the form of a commission, spreads, financing rates, margin rates or a conversion fee.

Still sounds confusing? You can dive into our broader glossary explaining all the exotic terms of the financial world. We also have a forex trading glossary dedicated to terms specifically related to forex trading.