After years of trading, I’ve come up with a pretty good understand of how stock brokers work and how to figure out whether the brokerage firm is a good one or not. Do you have a dud or a winner? Find the broker below and see for yourself.
Zecco is ultra cheap but it’s one of the worst stock brokers out there. At the beginning, they were advertising free stock trades. Then, they changed it to 10 trades per month only. Afterward, they switched it to 10 trades per month only if you have $25,000 in your account. What gives?
OptionsHouse is relatively new but it’s making headlines as it provides stock trades at $2.95 per trade. The options pricing is very attractive as well at $9.95 flat fee, making it one of the cheapest brokers out there. There’s no bank or anything, but the cost may win you over.
TradeKing was one of the first stock brokers who invented the area of discount brokerage firms. It’s good customer support, fair pricing and good tools ranks high in my book of stock brokers.
As the name implies, OptionsXpress is all about options. While it has stock trading offers, options trading is where it really shines. It even has an extensive guide to options trading, which is good for beginners as well as professionals.
Scottrade is not really promoting its business like it should but it does offer a solid platform for traders. At $7 a trade, it is middle of the pack in terms of price and middle of the pack in terms of features.
TD Ameritrade really needs to update their interface, as well as lower their pricing. The price is high, not to mention that the website have been known to be down under heavy use.
Etrade offers one of the best overall stock broker experience out there today. With its amazing array of features as well as a banking division, there are lots of flexibility with this firm.
Investing is difficult. That’s why you need to compare online brokers before you decide on one that you want. investing basics helps you do just that.
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