If you are looking to succeed in the world of finance, you will first need to find a qualified online broker. Generally speaking, your online broker will play as much of a role in your investment expenses as the stocks in which you invest in. Here are the 5 best online brokers for trading stocks.
1. OptionsHouse
If customer service is something that you value, OptionsHouse is an attractive option. If an issue arises, there is no need to feel discouraged as OptionsHouse will resolve any issues as soon as possible. With a commission rate of $4.95 for stocks, OptionsHouse is considered to be one of the best online brokers in the world of finance. Additionally, OptionsHouse offers a variety of investment opportunities, including mutual funds, exchange-traded funds, bonds, and equities. But wait, it gets better! OptionsHouse does not require an account balance minimum.
2.Ameritrade
Similar to OptionsHouse, Ameritrade has excellent customer service. However, they also offer their clients various tools and platforms that are made readily available on their PC or mobile phone. Ranked number one by Barron’s for best long-term functions of an online broker, Ameritrade does not require a minimum account balance. However, the downside of Ameritrade is that there is a commission rate is $9.99 per trade.
3.Trade-King
If you are looking for an online broker that offers low costs, you might want to consider TradeKing as an option. TradeKing not only offers a $0 account minimum, they also charge a commission rate of $4.95 per trade. Additionally, TradeKing offers powerful tools such as quotes from companies and accessible research archives.
4.Interactive Brokers
Interactive Brokers is a viable option for those looking for a broker who is offering cheap commission rates. By offering low costs, clients of Interactive Brokers are able to maximize their profits. Their commission strategy is as followed; you are charged a minimum of $1 and a maximum of 0.5% of the trade value for every share. With that in mind, Interactive Brokers require a minimum account balance of $10,000. If you have an individual retirement account, the minimum is $5,000. Despite having one of the cheapest commissions available, you still have to maintain your account balance if you want to trade with this broker.
5.Charles Schwab
If you need help spending your money wisely, Charles Schwab offers one-on-one financial advice. If, however, you prefer working face-to-face with someone, you can go to a Charles Schwab branch and speak with someone directly. Keep in mind that this will cost you extra. As one of the bigger names in the brokering business, Charles Schwab offers its customers a variety of tools, such as real-time charts, watch lists, and analysis from Schwab. Despite having numerous tools available to the public, Schwab only charges a commission rate of $8.95 per trade. However, they do require an account minimum of $1,000.
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