Top 10 Online Trade Brokers
The proliferation of the Internet through the 2000s enabled traders and investors to participate directly in the financial industry in a way never before possible. Many online trading brokers appeared to satisfy this demand. The result is a large field of online brokers from which to choose when considering an account. Fortunately, many consistently stand out from the crowd to help make the selection easier.
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ETrade
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ETrade was one of the first online brokers, and offers many perks that competitors do not. Access to international stock exchanges and the added functionality of a full-service bank account help characterize the ETrade experience. The service has earned a Silver Star from Star Reviews.
OptionsXpress
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In the late 2000s, interest in stock option trading significantly escalated. OptionsXpress is one of many online brokers that cater to the option trading community while still offering standard stock investing. The broker earned the top spot in the 2010 Top Ten Online Stock Trading Comparisons by Top Ten Reviews.
TradeKing
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Another broker which specializes in stock option trading, TradeKing offers some of the lowest commissions in the industry. But TradeKing particularly stands apart with its powerful set of online tools for analyzing option contracts and their complex pricing structure.
Zecco Trading
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For some customers, the online broker experience is almost entirely dictated by commission prices. Zecco offers one of the lowest commissions in the online broker industry, at only $4.50 for most trades. But their customer service and easy interface also helped Zecco take the top spot at Star Reviews, earning the Gold Star for online brokers.
Fidelity
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Some online brokers were born out of older full-service brokerage firms that wanted to develop platforms to satisfy investors with the willingness to completely control their own portfolios. Fidelity is one such firm, and is frequently cited in industry lists for the best online brokers.
ThinkOrSwim
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Day traders in particular require features and trade execution speed that exceed the standard online experience. ThinkOrSwim offers a state-of-the-art trading platform to accompany its online website. The software contains all the features of active trading while also having specialized tools for options traders. The platform is free to all ThinkOrSwim account holders.
TD Ameritrade
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Few brokers receive the widespread notice that TD Ameritrade enjoys. The firm's ranking tied with ETrade in the Star Reviews for online brokers, while also making the top 10 companies in the 2010 Online Stock Broker comparisons by Top Ten Reviews.
Schwab
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Charles Schwab is another full-service brokerage firm offering online accounts. Star Reviews highlighted the zero service fee policy at Schwab in their comprehensive review. The firm was also listed in the top 10 online brokers of 2010 by Top Ten Reviews.
Scottrade
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Scottrade enjoys a unique place in the online broker industry, as it is generally not classified as a discount broker, despite the fact that it offers some of the lowest commissions in the industry. The firm also has an excellent reputation for customer service and fast execution speed.
Firsttrade
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Perhaps not as well known as other online brokers, Firstrade nonetheless earned sixth place in the Top Ten Reviews for 2010 online brokers. The firm offers no-fee IRA accounts, and 10,000 mutual funds which are fee-exempt on positions held over six months.
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Comments
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