Comparing Stock Brokers

When choosing your online broker, here are some great tips to remember to help you decide:

1. Narrow down a list of what is most important to you – Just like when shopping for a new home, making a focus list of wants will help you separate choices to ultimately make a decision. For an investor that travels often for example, mobile trading will be more important than the cost of placing trades.

2. Choose a broker with high acclaim and that is well known – Larger, established online brokers almost always offer more features, trade tools, better customer service, etc. Multiple brokers have millions of clients and these are the ones that almost always deliver a high quality experience for clients.

3. Be aware of miscellaneous fees – Be conscious of what fees the broker is charging. I do not recommend any smaller niche brokers on this site specifically for this reason. There are usually many hidden fees that are only found by digging through the broker website.

Scottrade

Overview

Scottrade offers self-direct investors the tools they need to succeed, and for investors seeking guidance, Scottrade’s massive branch office network, which offers reliable and personable relationships, is an easy win.

 Likes

More than 500 local branch offices; FRIP (Flexible Reinvestment Program), a great spin on DRIP; Streaming Quotes; updated Scottrade ELITE platform.

 Dislikes

ScottradeELITE access requires $25,000 minimum; Limited in-house options capabilities; outdated website.

TradeKing

Overview

TradeKing offers clients a well-rounded package at a competitive price, and has a positive foundation for the future with its TradeKing LIVE responsive platform.

 Likes

TradeKing LIVE responsive platform; quality educational resources; research offering strong compared to other discount brokers.

 Dislikes

Current website’s triple-level navigation frustrating; site in limbo as new TradeKing Live responsive website awaits full rollout; constantly appearing security questions during login.

OptionsHouse

Overview

The uniting of OptionsHouse and TradeMONSTER in 2014 under the OptionsHouse name was a fantastic marriage for current and new clients. OptionsHouse’s platform is top notch and commission rates are extremely competitive.

 Likes

Industry leading commissions schedule; fantastic tools for option trading; Trigger Alerts functionality; easy-to-use platform that’s great for beginners and seasoned veterans alike.

 Dislikes

Noticeable usability disadvantages in mobile experience due to HTML 5 core; few studies available for charting; poor customer service; weak educational offering.

ETRADE

Overview

While ETRADE may not have the cheapest trades, the broker provides an easy-to-use website, a high quality mobile experience, and excellent research that will satisfy both casual and active investors.

 Likes

Mobile apps still lead the industry; Revamped Complete View page and Retirement Center both serve as great examples of a high-quality customer experience; Investor Education Center content organization is fantastic.

 Dislikes

ETRADE Pro platform requires 30 trades per quarter or $250,000 in assets for access; $9.99 trades pricier than most; ETRADE Pro lacks depth in charting and alerts capabilities.

TD Ameritrade

Overview
TD Ameritrade charges more than its competitors, but delivers with fantastic platforms, mobile apps, education, and strong customer service. The all-around experience is absolutely worth the higher price per trade.


Likes
Fantastic platforms thinkorswim and Trade Architect; rich research and education offerings; reliable customer service; easy-to-use website; Mobile Trader iPad app best in industry.


Dislikes
Pricey stock and options commissions; short-term trading fee charged if a commission-free ETF is sold within 30 days of purchase; no customizable dashboard for iOS mobile apps.

Online Stock Brokers

Investors should know the best online stock brokers to trade with. The following top stock brokers offer investors the most value for their portfolios. Some online stock brokers are known for their award winning customer service while others are known for inexpensive stock trades or powerful trading tools. This guide will highlight some of the best stock brokers available today with tips and advice for selecting a new broker.

1. TD Ameritrade

TD Ameritrade was ranked #1 Online Broker 2012 – 2015 by StockBrokers.com* even with its $9.99 stock trades. Its platforms thinkorswim (ranked “#1 Desktop Platform” 2016) and Trade Architect are loaded with tools and features. Add to that TD Ameritrade’s education, robust research, mobile apps, etc and what you pay for is what you get.

TD Ameritrade Offer: Trade free for 60 days + Get up to $600 with any new account.

2. ETRADE

ETRADE shines for its mobile apps and all-around offering. ETRADE was rated #1 for Mobile Trading in the StockBrokers.com 2016 Review* and provides customers research tools similar to TD Ameritrade and Scottrade. Like TD Ameritrade, ETRADE charges $9.99 per trade but offsets high cost with a positive customer experience. 

ETRADE Offer: Trade free for 60 days + Get up to $600 with any new account.

3. OptionsHouse

OptionsHouse is the perfect marriage of discounted trade commissions fantastic options trading tools. OptionsHouse has been rated #1 for Options Trading the past five years and #1 for Commissions & Fees. OptionsHouse offers $4.95 flat fee stock trades alongside options trades for $4.95 + $.50 per contract. 

OptionsHouse Offer: Trade Free for 60 Days. 

4. TradeKing

TradeKing offers investors competitive $4.95 stock trades, quality customer service, and research tools that are better than its discount broker peers. TradeKing merged with Zecco in 2012, acquired MB Trading in 2015, and continues to expand its reach with new tools like TradeKing LIVE, the broker’s mobile friendly trading platform. 

TradeKing Offer: Get $100 in Free Trade Commissions.

5. Scottrade

Scottrade has over 500 local branch offices which is the largest network out of any of the online brokers. Known for its customer service, Scottrade has been awarded #1 Overall Client Experience the past five years. Regular stock trades are $7 each which is less than competitors TD Ameritrade and ETRADE but more than OptionsHouse and TradeKing. 

Scottrade Offer: $2,000 in Cash Bonus and 50 Free Trades.