Making a wise decision when choosing a broker can return substantial amounts of cash to your pocket that could otherwise disappear in fees and commissions, so it is worth knowing what you want before selecting a trading platform.
Below is our high-level selection methodology, followed by a high ranking comparison table of these selected trading sites.
The broker selection table is followed by a more detailed online stock trading review of each of these selected stock brokerages. AdvisoryHQ News started out with a comprehensive list of online and full-service trading websites.
If you are only trading stocks and just starting out, the $0 minimum balance to open an account will be very appealing.
In addition to providing powerful trading tools to experienced traders, it is clear that TD Ameritrade has positioned itself to be the broker for new and beginning investors, and they are prone to spending large amounts of money on advertising at large sporting events. They have a suite of other investment options that are accessible to you should you decide to explore them, including international stock markets. Basically, they are the Spirit Airlines of online stock brokers; however, for most active traders, TradeKing is perfect for their stock trading needs. However, note that you will pay an additional 1 cent per each stock under $2, and if your account is under $2500 and you don't make a trade for 12 months, you will be slammed with a $50 inactivity fee. Our third top ranked online stock broker is a low-cost choice, and if you do your research on the extra fees to avoid any nasty surprises, you will save a stack of money with TradeKing.
Fidelity is a full-service brokerage that is competing effectively in the online discount trading field.
As a regular winner of the Smart Money best online broker award, Fidelity is a great choice for your online stock broker – if you have a US social security number and at least $2500 for an initial investment. As one of the best-priced brokers with access to stock markets outside of the US, Scottrade takes the fifth-ranking spot in our analysis of the top 5 online stock brokers. Ultimately, you, as the investor, have to determine the best stock trading site that is the right fit for your specific needs and requirements.
The list, reviews, and online broker rankings above have been provided as a first step in your research for the best online stock brokers.
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