Online Brokerage Firms
There are plenty of online brokerage firms out there but, like investing and trading itself, individuals should do their own research to see what will be most beneficial for their bottom line. It’s always good to look into fees, commission rates, minimum funding amounts and, of course, the trading tools, features and restrictions that may be associated with buying and trading stocks through online brokerage firms.
Zecco is an online discount broker that offers low price stock and options trading. Zecco offers 10 free stock trades every month when you maintain a ,000 balance or execute 25 stock trades each month. Otherwise, this service allows you to buy stocks for as low as .50 per trade, which is one of the lowest commissions of all major online brokerage firms. Zecco is popular among many traders for purchasing stocks online, especially because traders are given access to ZeccoShare online stock forums, where you can learn about stock and options trading, share stock research and exchange trading ideas and stock picks with other active traders online.
We’re sure you’ve heard of Scottrade, as it’s one of the most reputable brokerage firms that allows you to buy stocks online. Scottrade offers users the ability to trade both stocks and options. Of course, fees and commissions vary depending on the price of the stocks you plan on purchasing and trading. Online market and limit equity orders are priced at each for stocks over . This online stock trading resource offers a low margin interest rate. In fact, Scottrade’s margin interest rates are among the lowest of national online brokers. Not unlike a lot of online brokerage firms, an initial deposit of 0 is required to open an account, while a minimum of ,000 is necessary for a margin account, which is useful for traders who want to make multiple trades in a shorter period of time. Scottrade is also a popular online trading resource because it offers market information and research tools, whether you’re an active, experienced trader of just getting started. For the savvy, on-the-go trader, Scottrade allows users to monitor their accounts, perform research and even trade from their iPhone, BlackBerry and other internet-enabled mobiles devices.
Another brokerage firm that allows you to buy and trade stocks online is TD Ameritrade. This online broker offers a low, flat rate of .99 commissions on every internet equity trade, regardless of how much money you have in your account and how many shares you buy. Additionally, TD Ameritrade does not charge users maintenance of inactivity feeds. One particular element that makes TD Ameritrade appealing for online stock traders is the research and tools available to its account holders. This includes research from industry leaders, such as S&P, MorningStar and ResearchTeam, and easy-to-use tools, which also includes educational workshops. TD Ameritrade also offers a mobile trading application for iPhone, iPod touch, BlackBerry, Android and Windows phones.
ChoiceTrade has gained a pretty good reputation with online traders for a number of reasons. ChoiceTrade offers web-based and software based trading platforms and, not unlike Scottrade and TD Ameritrade, a mobile trading platform compatible with BlackBerry, iPhone and iPod Touch, and several phones using Windows Mobile. It may come as no surprise that ChoiceTrade offers online stock traders a variety of choices, with monthly base fees ranging from “free” to 6 for the more advanced ChoiceTrader Select with eSignal, which includes Level 2 quotes for NASDAQ stocks. If you’re interesting in trading penny stocks, ChoiceTrade may be of particular interest, as there is no surcharge on penny stocks for purchases of up to 500,000 shares. ChoiceTrade offers a Market News section, which pulls in news feeds from M2 Presswire, United Press International, SinoCast and several other resources. Last, but certainly not least, ChoiceTrade providers traders with an online community that allows you to create a personal profile, meet and communicate with other members, form investment clubs and, for experienced traders, even start of blog of your own.
SogoTrade is another popular online brokerage firm. One particular reason for this resource’s increasing popularity is online equity trades. Broker-assisted trades, of course, are more expensive. Whether you use a broker to assist you in your online trades or not, SogoTrade does not put a limit on the number of shares you can purchase. SogoTrade also does not charge users inactivity or maintenance fees. Additionally, there is no monthly subscription fee and you can get started trading stocks online with a deposit of just 0. Once traders get started, they will be able to utilizing SogoTrade’s one-click trading center, free streaming quotes, stock news and historical charts, and, if so desired, the ETF Research Center. Whether you’re interesting in trading sub penny stocks or are looking for large cap stocks, SogoTrade offers its members powerful trading technology built “by traders, for traders.”
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