Comparing stock brokers starts with figuring out what your priorities are and the different criteria.The main features that you need to be looking at are customer service, trading tools, research options, real-time ticker streaming options, volume-based discounts among others.
You must also take note that each online stockbroker has specializations or niches.Ex: TradeKing is ideal for traders who primarily use the online tools and Scottrade is for those who like to drop by the local branches.
Your choices vary depending on your needs without worrying what other people want. Or better yet, you can always maintain accounts with the different online stockbrokers to fulfill your various trading needs!
TradeKing
When it comes to TradeKing, there is no minimum balance requirement. The $4.95 lowest transaction fee is very reasonable although it must be emphasized that an additional fee of 0.01per share is imposed on stocks valued under a dollar.
The upside is that TradeKing offers broker-assisted trades at $4.95 for every trade executed.You will like the savings because you wont be charged inactivity fees.
Scottrade
As previously mentioned, Scottrade are for traders who want the option of local offices for personalized service. Its lowest transaction fee of $7 is offset by the fact that a $500 minimum deposit is required.
Scottrade deals in Pink Sheets, too, although said trades must be broker-assisted with additional fees on the Penny Stocks priced below $1.IVR Touchstone trades are charged at $17/transaction.Thank goodness, there arent extra fees levied.
Charles Schwab brokerage
Considered the granddaddy of discount brokerage houses, Charles Schwab is surprisingly on the expensive side.Unlike TradeKing & Zecco, you have to maintain a balance of $2500 or $2000 for IRAs with this broker.
Extra fees of $12 will also be charged.50 per quarter on accounts that fall below the minimum. Indeed, when you start to compare stock brokers, keep in mind that Charles Schwab firm takes plenty of money to use.
TD Ameritrade firm
A top-rated online stockbroker for many industry organizations, TD Ameritrade firm requires a minimum deposit of $2,000 although IRA accounts require half of that amount.Although IVR trades are charged $34, there is no other minimum deposit required.$99 per trade.
Its $44.$99 fees on broker-assited trades is definitely on the higher side in the world of brokerages. You should also take note that additional charges on mail statements and trade confirmations in the US will be charged $2-$5 each.
Zecco
If you dont trade too frequently then Zecco will be just fine for you.Not only does Tradeking not have a minimum balance requirement it sometimes waives fees on certain types of transactions.
Dont forget,. You must trade for 25 times per month, of which the first 10 trades are free.After the previously mention free trades, the flat charge is $4.50 per trade is levied. This is equally true if you maintain a $25,000 balance.
When you compare stock brokers, you will begin to see small and large differences in the fees, services and fine print by all these firms. Be sure to check these differences to secure the most value for your money. In the end, you want an ally in your side when building your wealth as a stock trader and investor.
Whether you are looking for an online stock broker comparison or want to invest for a slightly longer period, it all starts with good but cheap stock broker.
