Online brokers are all over so it’s hard to figure out which one is really the best. I’ve compiled a list of the different ones out there and give a brief description of my thoughts on each.
Etrade is one of the earlier players in the discount brokerage and practically invented online brokerages. The user interface is amazing and the commissions are on the higher side in this day and age.
TD Waterhouse acquired Ameritrade to make TD Ameritrade. They also changed it to green but that’s about all the changes they made. The online user interface still looks like it’s from the 1990s when everything was based on command lines. I would recommend other options over this one any day.
Charles Schwab have been cleaning up in the last year or so, especially with the troubles of Etrade. Honestly, I’ve been thinking about moving my money to Charles Schwab as well since they offer everything you’d want.
TradeKing is a deep discount broker and trades are only $4.95 (half of the higher end ones). It offers a great trading community where you can find out what others are trading and executions are quite. In fact, it’s won many awards and it’s highly recommended.
Zecco has the worst marketing ever but it is one of the few broker that offers free stock trades. If you have over $25,000 or trade 25 times or more, the trades are free. Otherwise, it’s $4.50 per trade.
SogoTrade is a nice option because it’s $3 per trade. However, it nickel and dimes you on other things like a SEC fee (what is a SEC fee you ask? Exactly!). You may just need to run the numbers to see whether it’s going to be cheaper. SogoTrade does seem to do many trades though but it doesn’t seem to offer options trading.
WellsTrade is Wells Fargo’s self trading platform offering. The user interface is lacking and the logistics of trading is a little weird but if you have $25k with them, trading is free (actually, up to 100 trades a year). It’s not for the frequent trader but for retail investors, it’s a great option (who can say no to free?).
Bank of America came to the self trading platform a few years ago when it offered free stock trades for its clients who have more than $25,000 in assets with them (it could be savings, checking among others). A few years later, you don’t hear much about them but I’m sure some of their customers are using them since it’s free.
OptionsXpress is known for its options trade. Instead of charging you per option like most firms, this company has a set pricing. They also claim to have no hidden fees so it might be a good option (no pun intended).
Possibly Related Posts:
- How To Read The Stock Market
- It’s Isa season: New offers already on the market
- Buying In The Boise Idaho Real Estate Arena; 2 Strategic Points!
- Mortgage Modifications Lead Gripe Of Consumers Of Boise Real Estate
- Economic Indicators Affecting Boise Real Estate
If you enjoyed this post, make sure you subscribe to my RSS feed!
DandyID
Facebook
Twitter