Technology has brought us into a new era of investing, including the ability to make trades online from either your home computer or mobile device. You can do this in real time, and often for little to no commission. This technology has resulted in tons of stock broker platforms on the internet, available as web-based programs or apps. How can you identify the best stock broker companies from that bad ones?
The best companies and services are the ones that offer consumer-friendly features, good customer service, and inexpensive fees that most traders should be able to afford. Online trading fees have been getting lower and lower in recent years. You shouldn’t have to pay any unnecessary fees either, such as “account inactivity”.
Whether you’re a beginner to online stock trades or somewhat experienced, here are some of the best stock broker companies to look into:
TD Ameritrade
This is an excellent one for beginners since it comes with all of the information new investors need to help guide them into the world of investments. There is no shortage of educational material offered by this platform, such as hundreds of tutorials, instruction videos, and more.
Note: TD Ameritrade has been approved to be acquired by Charles Schwab, and the two have plans to merge once the deal is finalized.
E*Trade
This one definitely deserves a spot in the “best stock broker companies” list. It’s been around since 1982 – long before the internet ever became mainstream. There are a variety of investment options available, including EFTs, Options, Stock, Futures, Bonds, CDs, and more. Stocks, Options, and EFTs cost $0.00 fees. There is also a large knowledge base to help every type of investor.
Merrill Edge
You can get the same services of a full broker with this platform, but at a discount price. Among its strong attributes include in-house research, responsive customer support, and the “MarketPro” trading platform. users can create watchlists, set trade alerts, monitor your portfolio in real-time, and so forth. The interface is easy to use than what you might think. Merrill Edge is probably ideal for medium-level traders.
Zacks Trade
If you consider yourself to be either a somewhat experienced trader, or an active day trader, then Zacks Trade is probably the best of the best stock broker companies for you. It offers global access, and is by far the most diverse offering. Its Interactive Brokers app offers trading solutions for over 20 countries as well as 130+ market centers. Expect absolutely 0 inactivity fees, $0.01 commission per share (on stocks and EFTs that are greater than $1 per share), and margin rates that start at 3.55% or lower, depending on your balance.