The Story of the Stock Brokers
There are tons of stock brokers on the market but who's the best? Here's a summary of the more popular options and what I think of them.
Etrade is one of the earlier players in the discount brokerage and practically invented online brokerages. The user interface is amazing and the commissions are on the higher side in this day and age.
TD Ameritrade is also an early player and it's main competition is Charles Schwab and Etrade. They have good advertising but the interface isn't great and support is okay mediocre. However, they do have a solid following and trades are $9.99 no matter how much you trade or have with them.
Charles Schwab is a full fledge solution like Etrade (they offer a bank, client services as well as credit cards along with their trading platform). Ever since Etrade went into trouble with its mortgage business, Charles Schwab have been on fire, taking market share and everything else.
TradeKing is a deep discount broker and trades are only $4.95 (half of the higher end ones). It offers a great trading community where you can find out what others are trading and executions are quite. In fact, it's won many awards and it's highly recommended.
Zecco used to offer free trades (actually it still does with restrictions) and their marketing just sucks. They actually changed the commission structure like 3-4 times in the past few years and many people are just pissed at how everything is handled.
Sogotrade is a relatively new player and it plays the angle of cheap trades. With $3 per trade, it's hard to beat unless everything is just free. Sogotrade also ensures trading accounts for up to $5 million.
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).
Article Source: FxTradingStock.com
About the Author
Stock Trading is one of the fastest way to make money but it's also the most dangerous. It is important to spend some time testing different stock brokerages to see which one you like the most.
by: Trading Mechanic
Total views: 53
Word Count: 414
Date: Tue, 5 May 2009
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