Online Brokerages
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[edit] Deciding on a brokerage
In choosing a brokerage, it is not enough to know what the commissions are. It is also important to know what it is that you want out it, as not all brokerages are the same. Aside from cost of buying and selling stock, what kind of research is being made available. What other services exist?
If all you want is to buy and sell and nothing else, then going for the lowest commission rate is best. On the other hand, maybe you could use better access to research. For example, would you like access to Standard & Poors Research? You could go directly to Standard & Poor and pay them upfront. Or alternatively you could choose to use one of the Brokerages that provide their research as part of their own research package.
Once you know what you looking for in a brokerage, you can more effectively select one for your own use.
[edit] Comparison Chart
| Brokerage | Website | Commission | News | Charts | Screening | Alerts | Min. Funding |
|---|---|---|---|---|---|---|---|
| A.B.Watley Direct | http://www.abwatley.com | 9.95 | Yes | Yes | Yes | ? | |
| Accutrade | http://www.ameritrade.com | 29.95 | Yes | Yes | Yes | ? | |
| Barry Murphy & Company | http://www.barrymurphy.com | 29.95 | Yes | Yes | No | ? | |
| Cambridge Discount Brokerage | http://www.cambridge-discount.com | 15.00 | No | No | No | ? | |
| Charles Schwab | http://www.schwab.com | 12.95 | Yes | Yes | Yes | Yes | |
| Cutter & Co. Brokerage | http://www.cutterco.com | 25.00 | Yes | Yes | Yes | ? | |
| Cybertrader | http://www.cybertrader.com | 9.95 | Yes | Yes | Yes | ? | |
| Downstate Securities Group | http://www.downstate.com | 20.00 | Yes | Yes | Yes | ? | |
| Fidelity Brokerage Services | http://www.fidelity.com | ? | Yes | Yes | Yes | ? | |
| First Discount Brokerage | http://www.1db.com | 19.75 | Yes | Yes | No | ? | |
| First Trade Securities | http://www.firsttrade.com | 6.95 | Yes | Yes | Yes | ? | |
| Freedom Investments | http://www.freedominvestments.com | 15.00 | Yes | Yes | No | ? | |
| Geared Trading | http://www.gearedtrading.co.za | 5.00 | Yes | Yes | No | Yes | ZAR20k |
| Gorilla Trades | http://www.gorillatrades.com | 5.00 | Yes | Yes | Yes | ? | |
| Investrade Discount Securities | http://www.investrade.com | 7.95 | Yes | Yes | No | ? | |
| Interactive Brokers | http://www.interactivebrokers.com | 1.00 | ? | ? | ? | ? | USD5k |
| Mercantile Brokerage Services | http://www.mercbrokerage.com | 18.00 | Yes | Yes | Yes | ? | |
| Muriel Siebert & Company | http://www.siebertnet.com | 14.95 | Yes | Yes | Yes | ? | |
| Mytrack | http://www.mytrack.com | 12.95 | Yes | Yes | Yes | ? | |
| Netvest | http://www.netvest.com | 14.00 | Yes | Yes | Yes | ? | |
| Online Brokerage Services | http://www.mytradz.com | 7.95 | Yes | Yes | Yes | ? | |
| Regal Discount | http://www.eregal.com | 11.95 | Yes | Yes | No | ? | |
| Scottrade | http://www.scottrade.com | 7.00 | Yes | Yes | Yes | ? | |
| Seaport Securities | http://www.seaportsecurities.com | 14.95 | Yes | Yes | Yes | ? | |
| Securities Research | http://www.securitiesresearch.com | 35.00 | Yes | Yes | Yes | ? | |
| Sloan Securities Corp | http://www.sloansecurities.com | 19.95 | Yes | Yes | Yes | ? | |
| Stockcross Financial Services | http://www.stockcross.com | 20.30 | Yes | Yes | No | ? | |
| TD Ameritrade | http://www.tdameritrade.com | 9.95 | Yes | Yes | Yes | ? | |
| Vanguard Brokerage Services | http://www.vanguard.com | 25.00 | Yes | Yes | Yes | ? | |
| Well Fargo Investments | http://www.wellsfargo.com | 19.95 | Yes | Yes | Yes | ? |
[edit] Schwab
Besides the website, Charles Schwab can be access via phone or at one it many offices located across the country. Plus you can trade in Bonds, Mutual Funds, Options, and Futures.
[edit] Scottrade
Besides the website, Scottrade can be access via phone or at one it many offices located across the country. Plus you can trade in Bonds, Mutual Funds, and Options.
