Online Brokers Need to be Unique
Want to know which stock broker is the best? Find out in the following article where I talk about the more popular options out there. Hopefully, you can find the one you are looking for below.
Etrade used to be my brokerage of choice but the mortgage mess really spooked me. Add to the fact that there are cheaper alternatives out there and I'm in the process of switching to different broker accounts.
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 has been taking share ever since Etrade blew up with its mortgage business. It's sad to see Etrade doing so bad but at least they came up with the Etrade baby. Charles Schwab also has a neat 2% reward credit card which is great if you use them as your brokerage.
TradeKing is a smaller player in the space but it's solid. In fact, it's won many awards from the likes of Barons and Smart Money for its interface, customer support and fast execution.
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.
I was looking forward to SogoTrade until I can't seem to find a way to trade options. Huh? The stock trade is cheap at $3 per trade but your cash earn no interest (yes, 0%). Protection seems to be good though with up to $5 million protected but still, probably not my cup of tea.
Wells Fargo offers free trades for those that have at least $25k with them. This is the good news. The interface isn't so great but it works. Can't complain when it's free right?
Bank of America also offers free trades and the details are almost exactly the same as WellsTrade. To me, it's essentially the same but since BofA acquired Merrill Lynch, there may be a better future path when your net worth increases.
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). - 23167
Etrade used to be my brokerage of choice but the mortgage mess really spooked me. Add to the fact that there are cheaper alternatives out there and I'm in the process of switching to different broker accounts.
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 has been taking share ever since Etrade blew up with its mortgage business. It's sad to see Etrade doing so bad but at least they came up with the Etrade baby. Charles Schwab also has a neat 2% reward credit card which is great if you use them as your brokerage.
TradeKing is a smaller player in the space but it's solid. In fact, it's won many awards from the likes of Barons and Smart Money for its interface, customer support and fast execution.
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.
I was looking forward to SogoTrade until I can't seem to find a way to trade options. Huh? The stock trade is cheap at $3 per trade but your cash earn no interest (yes, 0%). Protection seems to be good though with up to $5 million protected but still, probably not my cup of tea.
Wells Fargo offers free trades for those that have at least $25k with them. This is the good news. The interface isn't so great but it works. Can't complain when it's free right?
Bank of America also offers free trades and the details are almost exactly the same as WellsTrade. To me, it's essentially the same but since BofA acquired Merrill Lynch, there may be a better future path when your net worth increases.
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). - 23167
About the Author:
Brokerage companies are very important in our lives because a good one can help us build wealth while a bad one can ruin our financial life. Pick carefully but if you don't have time, get a good comparison at Stock Trading Brokers.
posted by X - Men @ 1:44 AM
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