The Insider Info on Stock Brokers
Want to know which stock broker is the best? Find out in the following article where I talk about the more popular options out there. Hopefully, you can find the one you are looking for below.
Etrade Financial really messed up with its mortgage division. During the past 2 years, the brokerage have been posting consecutive quarters of losses and it doesn't even have anything to do with its brokerage firm. It's really letting Charles Schwab and TD Ameritrade take its share and it's just going downhill slowly.
TD Waterhouse acquired Ameritrade to make TD Ameritrade. They also changed it to green but that's about all the changes they made. The online user interface still looks like it's from the 1990s when everything was based on command lines. I would recommend other options over this one any day.
Charles Schwab is a full fledge solution like Etrade (they offer a bank, client services as well as credit cards along with their trading platform). Ever since Etrade went into trouble with its mortgage business, Charles Schwab have been on fire, taking market share and everything else.
TradeKing is the stock broker that I use after years with Etrade. While I've made a lot of money with Etrade, I just don't want any problems with it going bankrupt. TradeKing also offers commissions at half the cost of Etrade.
Zecco used to offer free trades (actually it still does with restrictions) and their marketing just sucks. They actually changed the commission structure like 3-4 times in the past few years and many people are just pissed at how everything is handled.
I was looking forward to SogoTrade until I can't seem to find a way to trade options. Huh? The stock trade is cheap at $3 per trade but your cash earn no interest (yes, 0%). Protection seems to be good though with up to $5 million protected but still, probably not my cup of tea.
Wells Fargo offers free trades for those that have at least $25k with them. This is the good news. The interface isn't so great but it works. Can't complain when it's free right?
Bank of America also offers free trades and the details are almost exactly the same as WellsTrade. To me, it's essentially the same but since BofA acquired Merrill Lynch, there may be a better future path when your net worth increases.
OptionsXpress is less known in the retail investor realm but it's very popular for frequent traders who love options. They have the best tools for options trading and they also charge three different prices for options commissions (as opposed to pricing based on the exact number of contracts). - 23222
Etrade Financial really messed up with its mortgage division. During the past 2 years, the brokerage have been posting consecutive quarters of losses and it doesn't even have anything to do with its brokerage firm. It's really letting Charles Schwab and TD Ameritrade take its share and it's just going downhill slowly.
TD Waterhouse acquired Ameritrade to make TD Ameritrade. They also changed it to green but that's about all the changes they made. The online user interface still looks like it's from the 1990s when everything was based on command lines. I would recommend other options over this one any day.
Charles Schwab is a full fledge solution like Etrade (they offer a bank, client services as well as credit cards along with their trading platform). Ever since Etrade went into trouble with its mortgage business, Charles Schwab have been on fire, taking market share and everything else.
TradeKing is the stock broker that I use after years with Etrade. While I've made a lot of money with Etrade, I just don't want any problems with it going bankrupt. TradeKing also offers commissions at half the cost of Etrade.
Zecco used to offer free trades (actually it still does with restrictions) and their marketing just sucks. They actually changed the commission structure like 3-4 times in the past few years and many people are just pissed at how everything is handled.
I was looking forward to SogoTrade until I can't seem to find a way to trade options. Huh? The stock trade is cheap at $3 per trade but your cash earn no interest (yes, 0%). Protection seems to be good though with up to $5 million protected but still, probably not my cup of tea.
Wells Fargo offers free trades for those that have at least $25k with them. This is the good news. The interface isn't so great but it works. Can't complain when it's free right?
Bank of America also offers free trades and the details are almost exactly the same as WellsTrade. To me, it's essentially the same but since BofA acquired Merrill Lynch, there may be a better future path when your net worth increases.
OptionsXpress is less known in the retail investor realm but it's very popular for frequent traders who love options. They have the best tools for options trading and they also charge three different prices for options commissions (as opposed to pricing based on the exact number of contracts). - 23222
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There are lots of online brokers out there so which one is really the best? Zecco may not have the best marketing team but it is certainly one of them.
posted by X - Men @ 4:42 AM
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