Review Of The Best Online Brokerage Sites
Reviews of online stock brokerages
You don’t need to be a veteran stock broker or savvy trader to make money online in the stock market. All you really need is some knowledge of how to buy and sell stocks, and a self-directed account at an online stock brokerage.
With these two conditions met, you’ll be able to save lots of money that you now pay to brokers or advisors to buy and sell stocks on your behalf. You’ll be able to Do It Yourself (DIY)! The question though is: Which online stock brokerages are best for you?
Before you go rushing to open an account, read our reviews of online stock brokerages below first, and then select the one that provides you the best value for your money.
OUR TOP PICKS
TradeKing has been in the business since 2005, and has emerged as a powerful and highly respected player in the online brokerage industry:
- Since 2005, the company has been consistently earning accolades, receiving awards and being recognized by industry watchers and critics alike, including Financial Communications Forum, Webby, Barron’s, Kiplinger, SmartMoney, StockBrokers.Com, NerdWallet and many more
- The site offers ground-breaking tools and an easy-to-use trading platform that helps DIY investors and traders like you manage your account, Track your portfolio, and Maintain accurate records
- Their flat-fee structure means you don’t need to worry about what other hidden charges you’ll be hit with
- And if your portfolio grows too big for you to manage, you can always switch to a managed portfolio service from TradeKing’s affiliated sister company – TradeKing Advisors
If you are looking for a single online stock brokerage platform that provides you an integrated range of services, much beyond buying and selling stocks and bonds, then Scottrade may be worth looking into:
- The company has been helping individual investors and traders for over 35 years now, and is an established player in the discount brokerage arena
- You have access to a full suite of online trading, online investing, retirement planning and online banking tools and services – all through a single platform
- Professionally trained Investment Consultants can review your investments and guide you with a strategy to meet your trading and investing goals
- When you feel you need more than just an online experience, you can tap into Scottrade’s nationwide network of branches to discuss your needs in-person
With E*Trade, you’ll receive a broad range of value-added benefits, including Free analysts reports, Web Seminars, Market Commentaries, Online Portfolio advisor to help with your asset allocation, and loads of other complimentary resources.
Additional reasons that E*Trade made it into our list of reviews of online stock brokerages includes:
- Broad range of investment choices, from Stocks and Mutual Funds and ETFs and Options
- You can open both non-retirement as well as retirement accounts in one place
- You can trade for a flat fee of $9.99 or less
- Their mobile platform, website tools and advisory services have been applauded by many industry watchers, including in Kiplinger’s ‘Best Of Online Brokers” survey
MAKING YOUR CHOICE
Before you rush in and open an account at an online stock brokerage, make a list of what you are looking for first. For instance, if a site that offers Retirement accounts, Mutual Funds, Options, ETFs and more, charges you $10 per trade; and another one offers only trading in Stocks for $4.95, then ask yourself questions like:
- Am I going to trade Options?
- Do I want to buy/sell Mutual Funds?
- Am I opening the account to trade or to invest for my retirement?
The answers to such questions are the foundation to making the right decision on which online stock brokerage best meets your needs.