Compare Online Stock Brokers – Top 5
With a lot of choices comes a lot of responsibility – a saying that is equally true when you have to compare stock brokers online. It must be noted that there are many aspects of online trading that must be taken into account when choosing the best one for you amongst the various online stockbrokers.
You may balance the need for low trade commissions and minimum opening deposit with excellent customer service, trade tools and research. Ultimately, however, your trading needs and style determine your final choice. Well, to help you narrow the field, listed below are the top 5 online brokers.
Online Stock Broker Comparison
Thinkorswim
Voted the top online broker by Barron’s in 2009, thinkorswim offers its customers zero minimum deposit with a standard $9.95 on trade commissions. Its broker-assisted trade fee is also at $9.95, which is considerably lower than the fees imposed by Etrade and TD Ameritrade.
Thinkorswim also offers 24/7 customer support, a helpful trader community, plenty of educational and research tools, as well as international, mobile and virtual trading. With all these excellent features, you cannot help but download its trade platform for free.
Etrade
As you compare online stock brokers, Etrade appears to be an excellent choice. It has the irresistible offer of either 100 free trades or a free Blackberry with a new account. Also, take note that Etrade was also ranked number 1 in 2009 albeit by SmartMoney.
You must maintain a $1,000 minimum deposit with inactivity fees imposed on the account. Research and educational tools are also available for greenhorns and veterans. Customer service is rated excellent in most instances.
TradeKing
Yet another online stockbroker with zero minimum balance required, TradeKing offers low trade commissions and broker-assisted trades at $4.95 each transaction. The $.65 per option contract is one of the lowest in the industry.
You can join the 150,000-strong trader community where ideas, market analysis and research are generously shared among members. You will also enjoy the good customer service support as well as international and mobile trading options.
Scottrade
Another multi-awarded online stockbroker is Scottrade, which was recognized for its loyal customer base in 2009 by Brand Keys. Rightly so as its features – personalized customer service, competitive fees on stock trades and premium trading tools, to name a few – are topnotch.
Scottrade also offers a low $500 minimum deposit with no inactivity fee. Add in its options for international, virtual and mobile trading and you have a winner in your hands!
Zecco
If you are looking for free stock trades, then Zecco is the answer. The catch is that the trader must engage in 25 trades per month to avail of the 10 free trades in the same period.
You can join the 150,000-strong ZeccoShare Community. The downside is that there are no international and mobile trading options, which are available in other trading sites. Still, with its competitive pricing, Zecco is an excellent choice.
When engaging in online stock broker comparison, your trading needs is the most important determinant. Just as long as you are satisfied with the service, the fees and the options, then stick with the online stockbroker.