There are many different types of broadhead to choose from, two-blade, three-blade, fixed and mechanical heads. It can be a bit daunting for a newcomer to work out what they should use.
I have outlined some criteria for each style, their pros and cons and what arrow weight/Kinetic Energy compliments them

Two-Blade Heads

Pros
Best penetration
Can be shot with any arrow, draw length and bow weight combo
Less Expensive (generally). Northern broadheads are a good example here

Cons
The blood trail is generally weaker given the smaller cut
Some broadhead tuning is required
The user has to be careful around exposed blades

Fixed Blade Three Blade

Pros
Aerodynamically sound so unlikely to wind plane
Number two in penetration although there is very little in it
Great blood trails, the triangular cut does more damage
As penetration is better there is usually an exit wound to improve the blood trail
Replaceable blades models are typically razor sharp
Generally minimal bow weight is required although for lower poundages a heavier arrow should be considered.
The Grim Reaper Hades and G5 Striker/Montecs are recommended.

Cons
Some broadhead tuning is required
The user has to be careful around exposed blades

Mechanical broadheads

Pros
The most accurate out of the packet
Most will have the same (or very close to) impact point as a field point tipped arrow due to their minimal aerodynamic profile. The more something looks like a field point, the more it will fly like one
Minimal or no extra tuning is required
A bigger cutting diameter means they leave the best blood trails
As the broadhead blades are in a closed position they are the safest to handle
Highly recommended are the Grim Reaper range, Fatal Steel, Razortip/Razorcut 1 3/8 and the Whitetail Special

Cons
More bow weight is required to use these in the field. Energy is required to open the blades and the larger cutting diameter also requires more energy behind it to obtain a pass-through
They are more expensive than most other broadheads

Mechanical heads come in different blade and cutting diameter configurations. A rule of thumb is the more blades the more Kinetic Energy is required to achieve the penetration of a fixed blade head. Several manufacturers recommend a minimum of 50 ft/lbs of KE. Kevin uses three of the Grim Reaper range, the Fatal Steel, Pro Series Razortip 1 3/8 and the Whitetail Special. For ground hunting the first two are preferred with the Fatal Steel being highly accurate for longer shots. It has the smallest cutting diameter of 1 ¼”. The Whitetail Special on the other hand has a massive cutting diameter of 2” which is absolutely devastating. This is Kevin’s choice when he is in a treestand and he will have a total arrow weight of 555 grains (100grains heavier than usual) for maximum impact. Kevin’s KE is 78ft/lbs.

Carol’s choice is the fixed blade Hades Pro 100grain three blade, with a total arrow weight of 396 grains she has no trouble with pass-throughs. Carols KE is 38ft/lbs.

“No one size fits all”, it isn’t possible to have a broadhead that is perfect for every situation. For this reason some bowhunters will have two different broadheads in their quiver. A fixed blade for pigs, which are low to the ground and where grass may need to be shot through close to the animal or mechanicals for that longer shot and better blood trail. A great all-round head is the Grim Reaper Razortip of Razorcut 1 3/8 mechanical. Flies with field point accuracy, large cutting diameter and excellent penetration.

SHOP BROADHEADS