Choosing a new stock broker is easier said than done, there are so many different parameters that need to be taken into account, from your level of experience to the kinds of products you’ll be trading and that’s before you start to think about price.
It is always a good idea to compare stock brokers before making a decision, because there are there are so many out there, you want to be sure you are getting the best possible deal for your money.
To make life easier for you, we have put together an indepth list of brokers and compared them all against each other. This should make the task of finding the best broker much easier for you.
There are also more detailed reviews if you feel you would like to further look into a particular broker.
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| Broker | E*TRADE | OptionsHouse | OptionsXpress | TradeKing | TradeMonster | Zecco | TD Ameritrade | SpeedTrader | Firstrade | Scottrade |
| Open Account | Join Now | Join Now | Join Now | Join Now | Join Now | Join Now | Join Now | Join Now | Join Now | Join Now |
| Current Offers | 100 Free Trades | 100 Free Trades | Save $150 Transfer Fee | Trade Free for 60 Days | 250 Free Trades | |||||
| Full Review | Full Review | Full Review | Full Review | Full Review | Full Review | Full Review | Full Review | Full Review | Full Review | Full Review |
| Fees & Commissions |
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| Stocks and ETFs | $9.99 | $3.95 | $9.95 | $4.95 | $7.50 | $4.95 | $9.99 | $6.95 | $6.95 | $7.00 |
| Options Base Price | $9.99 | $8.50 | $0.00 | $4.95 | $0.00 | $4.95 | $9.99 | $0.00 | $6.95 | $7.00 |
| Options Contract | $0.75 | $0.15 | $1.25 | $0.65 | $0.50 | $0.65 | $0.75 | $1.00 | $0.75 | $1.25 |
| Broker Assisted | $45.00 | $3.95 | $9.95 | $5.00 | $15.00 | $19.95 | $44.99 | $6.95 | $26.95 | $27.00 |
| IRA Annual Fee | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $30.00 | $0.00 | $35.00 | $0.00 | $0.00 |
| Minimum Deposit | $1000 | $0.00 | $0.00 | $0.00 | $2000 | $0.00 | $1000 | $0.00 | $0.00 | $500 |
| Ratings |
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| Recommended For | ||||||||||
| Beginners or Light Traders |  |
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| Frequent Traders | |
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| Discounted Trading | |
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| Options Traders | |
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| Virtual Trading | |
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| Forex Trading | |
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| Open Account | ||||||||||
| Broker | E*TRADE | OptionsHouse | OptionsXpress | TradeKing | TradeMonster | Zecco | TD Ameritrade | SpeedTrader | Firstrade | Scottrade |
| Open Account | Join Now | Join Now | Join Now | Join Now | Join Now | Join Now | Join Now | Join Now | Join Now | Join Now |
5 Things to Look Out For
Here are five things to look out for when comparing stock brokers, run through the list and then check out the table below. Use it to build a list of potential partners and then read the individual reviews of each broker. Comparing brokers has never been so easy.
1. Training & Education
Most stock brokers aim their services at specific kinds of traders. You don’t want to be joining a broker that’s aimed towards intermediate and experienced traders if you’re just a starting out. The training they provide will likely go right over your head and you’ll be trying to trade sophisticated options strategies before you’ve got a handle on the basics.
2. Platform & Tools
This is what differentiates most brokers; again the platform will be aimed at the kind of trading the broker specializes in. You don’t want to join a broker that specializes in day trading if you’re looking to manage your IRA for example or you’ll end up paying expensive platform fees for tools that you’ll never use.
3. Products & Services
It might seem obvious but not all brokers offer the same kinds of products and services. If you’re looking to trade Forex for example you might want to look for a broker that has an integrated Forex trading platform. Otherwise you’ll have to open multiple platforms from multiple brokers to manage your investments.
4. Support
It’s all very well offering cheap fees but what if you have a problem, the last thing you want if your trading screen freezes at a vital moment is a recorded message on the other end of the line. It’s a good idea to make sure their support lines are staffed by real people, preferably based in the US, that way you won’t have any nasty surprises.
5. Fees & Commissions
Last but not least you should look at the levels of commission. Larger brokers always seem to be on the expensive side but it’s more than possible to get the same level of service from one of the smaller brokers. Just make sure they offer all the services you need before you commit yourself.