Which Are The Best Online Stock Trading Companies?
When it comes to stock trading, most people would probably come up with the names of only two or three trading companies, but did you know that there actually fifty (50) online stock brokerages where you can create account and start trading stocks?
Of course, as you can expect, not all of them are created alike and there are brokerages that are better than others by a mile. In this article, we’re going to give you a rundown on the best online stock trading companies based on the following criteria: Trading tools and technology, beginner to advanced trading platforms, mobile trading features, and educational resources.
* TD Ameritrade
Experienced traders praise TD Ameritrade as the best online stock trading company all-around. It’s not the best trading company for everyone but it is the best platform for most people – beginners and advance traders will learn a lot from their TD Ameritrade accounts. While the cost per trade is more expensive here, you do get what you pay for in terms of learning resources and trading tools.
You can trade on your mobile phone or tablet by installing the TD Ameritrade Mobile Trader and TD Ameritrade Mobile applications. Aside from stocks, TD Ameritrade also offers access to bonds, mutual funds, penny stocks, forex and ETF.
Scottrade is well-known in the industry for its great customer service. They actually have account managers that build relationships with the clients, which is rare these days. Although it’s rather behind TD Ameritrade in terms of technology, they compensate by not charging as much per trade.
In a study conducted by J.D. Power and Associates, Scottrade was ranked the best online stock trading company because of its customer service, account information, trading fees and charges, and overall satisfaction.
OptionsHouse is a discount broker that gives you the best deals on stocks and options. It has one of the lowest fees and the most affordable trading prices in the industry. Unlike TD Ameritrade, it’s not a full-service broker. They don’t offer access to all investment products and you won’t be able to find comprehensive financial information on their website, however, you will find unique tools for stock trading and options trading.
TD Ameritrade, Scottrade and OptionsHouse are only three of the fifty online brokerages that are licensed to operate in the United States. If you want to do stock trading, you can open an account with any of them.
Stock trading is one of the easiest ways that you can earn money, however, it can also be the most difficult and the riskiest. People have compared it to gambling. This is true, but only if you don’t know what you’re doing.
When trading stocks, stay disciplined, have a plan, and don’t get greedy, that is, take your emotions out of the trading. Pick your entry and exit prices and stick to them, even if it seems like the price of a stock will only get higher and higher. Start with a demo account so you will learn trading strategies without investing a dime.