5 Top Online Stock Brokers
Investors should know the best online stock brokers to trade with. The following top online brokers offer traders the most value for their investment portfolios.
Some online stock brokers are known for their award winning customer service while others are known for inexpensive or even free stock trades. This review will highlight some of the best stock brokers available based on trading fees.
1. Zecco
Zecco with its offering of free stock trades has become a very competitive discount broker as far as pricing.
The site is home to the ZeccoShare Community of over 150,000 investors and recently announced was Zecco forex trading which is now available for all clients.
Breakdown below:
Commissions = 10 free trades each month with $25,000 or 25 trades, otherwise $4.50 per trade and $.50 per option contract.
Known For = $0 Stock Trades.
2. TradeKing
TradeKing offers investors fantastic customer service and extremely competitive trade commissions. All trades are $4.95 and $.65 per option contract.
TradeKing is also home to the Trader Network with over 150,000 members all sharing trade ideas, research, and market analysis.
Breakdown below:
Commissions = $4.95 trades and $.65 per option contract.
Known For = Outstanding Customer Service and Discounted Trades.
Recent Awards = 4 out of 5 Stars Barron’s 2009.
Special Offers = Receive $150 when you switch to TradeKing.
3. Etrade
Etrade is another online broker ranked in the elite. Commonly seen on TV with its Etrade baby commercials investors can trade for as low as $7.99.
Etrade offers trading anytime, anywhere with its Etrade Mobile Pro service available on both the BlackBerry and iPhone. Day traders and active traders can take advantage of Power Etrade Pro which is its elite trading platform. Banking services are also available.
Breakdown below:
Commissions = $7.99 trades and $.75 per option contract for qualified investors.
Known For = Great Broker for Active Traders, Cutting Edge Account Security.
Recent Awards = #1 Online Broker & Best Banking Services Smart Money 2008.
Special Offers = Receive 100 Free Trades with your new account. Open a new account and receive a free BlackBerry.
4. OptionsXpress
OptionsXpress offers investors an all inclusive quality service for a competitive price. OptionsXpress is one of the only brokers that allows investors to trade stocks, etfs, mutual funds, options, bonds, and even futures all under one brokerage account.
Recently OptionsXpress acquired Optionetics to expand its options educational offering to clients. Virtual trading is offered to clients alongside support for international investing.
Breakdown below:
Commissions = $9.95 trades and $1.25 per option contract for qualified investors.
Known For = Trade Execution, International Investing, Competitive Options Broker
Special Offers = Practice trading with a Free Virtual Trading Account.
–> Open A OptionsXpress Account.
5. TD Ameritrade
TD Ameritrade offers a strong combination of competitive trade prices, customer service, and research tools. TD Ameritrade offers branch services throughout the United States and is commonly seen on TV Commercials and throughout the web via its strong online advertising campaign. Breakdown below:
Commissions = $9.99 trades and $.75 per option contract.
Known For = Being a well-rounded stock broker.
Special Offers = Receive free stock trades with a new account.
Other Notes
Honorable mention goes to Scottrade which is well known for their customer service and flat fee $7 stock trades. Scottrade has a $500 minimum to open an account.
Free trading can also be attained through Bank of America and Wells Fargo with a minimum of $25k alongside other requirements. For the simplicity of this review both brokers were not included. Furthermore, brokers that do not have flat rates and instead charge per share (Interactive Brokers, Thinkorswim, etc.) were also not included.
Read Also, 12 Ways to Compare Your Online Broker and explore our Stock Broker Forum.