So we just reviewed some of the more popular online stock brokers, and we have had a lot of information thrown at us. While it seems overwhelming, for the most part, finding out which one is right for you is really not that hard.
All the ones we have gone over this week have no fees or other guidelines other than just funding your money, so if you find out you don’t like a certain broker, then it really doesn’t take much to switch. Most of the time your next broker is willing to fund some if not all your transfer fees.
All you really need to look at are the commissions and support. Tools and resources can be important to you, but with all the free services and information floating around the internet, it really is not that big of a deal as it used to be.
Below is a chart the briefing summarizes the price structure and minimums you may need to fill:
|
Broker
|
Commissions
(stocks/options) |
Acct.
Minimum |
Best
For |
| Zecco | $4.95 / $4.95+.50 per contract |
$0 | Everybody |
| TD Ameritrade |
$9.99 / $9.99+.75 per contract |
$0 | Long-term |
| OptionsHouse | $2.95 / $9.95 | $1000 | Active |
| TradeKing | $4.95 / $4.95+.65 per contract |
$0 | Everybody |
| ShareBuilder | $4-$9.95 / $9.95+1.50 per contract |
$0 | Long-term/Beginner |
If you would like a broker to be reviewed in our next batch, then leave a comment or use the contact form.
For those looking to enter the stock market, also take a second to download my free guide to entering the stock market.