Best Online Broker
By: Anne Durrell
According to Consumer Research.com the brokerage that came out ahead was the Charles Schwab Company. They ranked highest due to their extensive range of various investment products, as well as their exceedingly easy to use trading and research tools presented on their website. Further they received high marks regarding overall customer satisfaction as well as good customer service.
Another research company lists the following as "best online broker": Zecco, TradeKing, E-trade, ShareBuilder/ING Direct, OptionsXpress, Scottrade, Fidelity, Vanguard, and TD Ameritrade as well as Charles Schwab.
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Barron's listed their best online broker such Web-based brokers as TD AMERITRADE, OptionsXpress, Fidelity Investments, Muriel Siebert, TradeKing, E*TRADE, Charles Schwab, OptionsHouse, Scottrade, Firstrade, Wells Trade, SogoInvest.com, Banc of America, Just2Trade.com, and finally Zecco.
Kiplinger's listed the following as best online broker, Muriel Siebert & Co., Fidelity Brokerage, FirstTrade, OptionsXpress, FirstTrade, T. Rowe Price, Charles Schwab, TD Americatrade, TradeKing, Vanguard, and Wells Fargo.
SmartMoney listed as best online broker, E*Trade, Fidelity, Charles Schwab, Banc of America, TD Americatrade, WellsTrade, and Vanguard.
USA Today, rather than grading the various online brokers report that newer online brokerage houses as Zecco as well as the more aggressive banks such as Bank of America and Wells Fargo are offering free online trades. This will, of course, take away business from Scottrade, Charles Schwab, TD Ameritrade and E*Trade.
If after you've done your homework and read up on each of the online brokers that each has listed, you wish to look more closely at different online brokerages, finding the best online broker will be made easier if you investigate such things as free trades, or even deeply discounted trades.
If you only purchase or invest in one trade a year, that won't make a big difference in your investment portfolio, however even if you are a long-term investor, you may have avoided an investment in exchange-traded funds due to the commissions, then this actually may make it much more interesting for you to invest in such, without the high commission penalty.
You'll also choose your best online broker, as mentioned earlier, by assessing their good customer service as well as their overall customer satisfaction. You may also be swayed by the minimum opening balance stated by each brokerage.
Other post you may be interested in reading: online discount brokers and future trading system
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