Comparing Stock Brokers – Aren’t They All the Same?

compare stock broker

There are numerous factors that come into play to compare stock brokers. You need to look at features like commission on stock and option trades, buyer service, trade tools and research, trading community and trading options, to cite a couple.

Compare Stock Brokers

Your choice relies upon your trading wants not anyone else’s wants. Or even better you can always maintain accounts with the different online brokers to satisfy your various trading wants. These are some stock brokers worth taking a look at :

TradeKing

With TradeKing, you needn’t maintain a minimum balance. The $4.95 lowest exchange charge is fair though it’s got to be emphasised that a further charge of $0.01 per share is imposed on stocks valued under a dollar.

Scottrade

As formerly mentioned, Scottrade are for traders who want the choice of local offices for individualized service. Its lowest exchange charge of $7 is counterbalanced by the undeniable fact that a $500 minimum deposit is necessary. Scottrade deals in Pink Sheets, too, though claimed trades must be broker-assisted with extra charges on the penny stocks priced below $1. Touchstone IVR trades are set at $17 per trade.

Charles Schwab

Considered the granddaddy of discount brokerage homes, Charles Schwab is shockingly on the dear side. You have got to maintain a minimum balance of $2,500 or $2,000 for IRAs, which is against this with the 0 policy of TradeKing and Zecco. You’ll also shoulder extra costs adding up to $12.50 per quarter on accounts that fall below the minimum. Indeed, when you start to compare stock brokers, remember that Charles Schwab takes lots of money to use.

TD Ameritrade

A top-rated online broker for many industry setups, TD Ameritrade needs a minimum deposit of $2,000 although IRA accounts need half that amount. There’s no catch to the minimum deposit though phone IVR trades are charged a set rate of $34.99 per trade. Its $44.99 charge on broker-assisted trades is one of the highest in the industry.

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