Best online stock trading site – How to find them and a Comparison table!
Finding the best online stock trading site or the best discount stock broker for you isn’t the easiest thing in the world, but in the long term it is very well worth it. Having all the key research information at your disposal and Saving money over the long run is key to picking the best performing stocks and options.
- The first and most important step of all is understanding your knowledge of investments and the stock market overall and how that relates to what kind of broker you need. You need to understand how important it will be that you have or don’t have someone to talk to about your investment decisions. You also need to know how extensive the research you will get needs to be. Consider your needs thoroughly.
- The second thing you should do is take a close look at online stock broker ratings and online stock broker reviews. Find as many opinions as necessary and consider all of them equally. Note the explanation that people give as to why that brokerage is either one of the best or one to avoid. Find a great source like TradeWiser, which is in the resources listed below, and consider their reviews of the best online brokerages.
- Look for top ranked customer service at all times. Even if you are interested in getting the cheapest stock trades possible, you still deserve to receive terrific customer service. Look through the online stock broker ratings for customer service reviews. A negative customer service experience is a huge negative on the company.
- Are there hidden fees associated with having your account there? Some brokerages have inactivity fees or annual fees that can really eat you up. I highly suggest reading everything on their site about the fees and even calling and asking about whether there are any other fees you need to know about before picking a certain brokerage.
- Look for the brokerage that has the cheapest stock trades online that also offers good research and quality customer service. There are so many options out there now that you can be very selective in searching for an online stock brokerage, but you must look for ways to save money while still being with a top-notch company.
Here is also a Stock Broker Comparison table for you. Some of the prices and specials obviously change over time but you can kinds of get an idea of the features that are available and the fees charged.
Online Broker Comparison Table
| Broker | Stock Commissions | Option Commissions | Mutual Funds | Bond Trading | Maintenance Fees |
|---|---|---|---|---|---|
| Zecco Trading | Free (10 free trades per month) | $4.50 + $0.50 | Yes | No | None |
| TradeKing | $4.95 | 4.95 | Yes | No | None |
| ShareBuilder |
$4 buy, $11.95 sell | N/A | No | No | None |
| Scottrade | $7.00 | $7.00 + $1.25 | Yes | Yes | None |
| Interactive Brokers | $0.005 / share, $1.00 min. | $0.75 / contract, $1.00 min. | No | Yes | $10 / Month for market data if commissions < $30 |
| Etrade Financial | $6.99-$12.99 | $6.99-$12.99 + $0.75-$1.40 | Yes | Yes | $40 per Quarter for accounts < $10,000 |
| Charles Schwab | $9.95-$19.95 | $9.95 + $0.75-$1.40 | Yes | Yes | None |
| Fidelity Investments | $8.00-$19.95 | $8.00-$19.95 + $0.75 | Yes | Yes | None |
| Firstrade Securities | $6.95 | $6.95 + $1.25 | Yes | Yes | None |
| MB Trading | $4.95-$9.95 | $1.00 / Contract | Yes | Yes | None |
| Options Xpress | $9.95-$14.95 | $1.50 / Contract ($14.95 Min.) | Yes | Yes | None |
| Muriel Siebert Brokerage | $14.95 | $34 minimum | Yes | Yes | None |
| TD Ameritrade | $9.99 | $9.99 + $0.75 | Yes | Yes | None |
| Think Or Swim | $9.95 | $9.95 + $1.50-$2.95 | Yes | Yes | None |
| Bank of America Brokerage | $14.00 (Free with $25k in deposit accounts) | $19.95 + $1.50 | Yes | Yes | $50 semi-annual |
