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What do individual investors and professional traders consider when seeking the best stock trading websites to use?
Based on an extensive keyword search analysis that we performed using Google, Bing, Yahoo!, Ask.com, AOL, and other search mediums, AdvisoryHQ News determined that price per trade, low account maintenance fees, promotions, and fast trade execution were key factors for traders and investors.
A. Price Per Trade
Price per trade is the first and also the biggest factor for individual investors and professional traders who seek the best online trading platform. As you are most likely aware, price per trade is how much you’ll pay each time you trade like buy and sell stocks, options, futures, bonds, or other financial products. If you trade or invest often, you’ll find out very quickly how beneficial it is to go with a a top online trading platform that offers a low price per trade.
B. Low Monthly Fees
Paying little to no, service fees i.e., 0 dollars inactivity fees and no maintenance fees is another key factor for investors and traders when they are conducting online stock trading reviews to find the top online stock broker and the best trading platform that fits their needs. Going with an online stock trading website that offers little to zero account maintenance fees increases your overall trading and investing returns.
C. Fast Execution
Opening a trading account with the best stock trading site that provides the fastest trade execution is another top priority for online traders and investors and is a factor that you should definitely consider before making your selection. When trading or investing in fast-moving markets, sometimes the difference between gaining and losing thousands of dollars comes down to a few milliseconds. 0.001 vs. 0.01 seconds can make or lose you a ton of money. Hence, extremely fast trade execution should be a top priority.
D. Don’t Forget Added Value
In addition to the factors outlined in the section above, you’ll also want to consider added value or perks as important factors when searching for and selecting the best online stock trading platform. For example, some investors consider value promotions e.g., receiving up to 1,000 when you open an account, 24X7 customer service, complimentary research tools, and highly advanced stock trading platforms as key criteria when finding the best stock trading site that meets their needs.
Review of the Best Online Stock Trading Sites
1.Fidelity
Fidelity Investments received 4.5 out of 5 stars in our 2016 Review, including being awarded Best in Class for eleven categories. They also took home No 1 for Order Execution, International Trading, and Email Support. Take advantage of their investment advising services at over 180 retail locations.
2.TD Ameritrade
Rated No 1 Online Broker Overall in Online Reviews, TD Ameritrade offers one of the largest varieties of trade tools through its desktop based Thinkorswim and web based Trade Architect platforms. The broker also boasts Best in Class ratings for numerous categories including Research and Customer Service.
3. ETRADE
ETRADE was voted the No 1 Online Broker in Online Reviews, finishing in third overall with 4.5 stars in 2016. ETRADE Mobile is rated the No 1 mobile trading app today and the broker offers great access to quality research, trade tools, education, and more.
4. Charles Schwab
In Online Reviews, they were rated 4.5 Stars Overall and No 1 Retirement Services and No 1 Client Dashboard. Extensive research access along with solid costumer service and banking services, a great full service brokerage. Charles Schwab will not disappoint.
5. Merrill Edge
Finishing No 5 Overall with 4 stars, Merrill Edge was also awarded No one for Banking Services. They provide a well rounded option for clients and Bank of America accounts are directly link-able. Best in Class for Research, Customer Service, Investor Education, and Banking.
6. TradeKing
Rated as the 4.5 Stars for Offering of Investments. Their online investor community, the Trader Network, is home to over 500,000 traders sharing ideas and research. For investors looking for discounted stock trades and fantastic customer service, TradeKing is a great match.
7. OptionsHouse
Awarded 4 out of 5 stars overall in Online Reviews, OptionsHouse offers discounted 4.95 dollars flat fee stock trades and options trades are 0.50 dollars per contract + 4.95 dollars base. Received No 1 for Options Trading and the Top most Web Based Platform accolade.
8. Scottrade
Offers its clients 7 dollars flat fee trades and over 500 local branch offices. Scottrade is an easy to use broker that makes the client experience fantastic as clients have access to live representative assistance throughout the day. The broker also offers real-time streaming watch lists alongside a variety of other tools and research.
9. TradeStation
Advanced trading platform for the active trader, having been awarded Best Platform Technology in Online Reviews, TradeStation finished Best in Class for Active Trading, Options Trading, and Platforms & Tools. Their proprietary EasyLanguage has created numerous apps in their TradingApp Store.
10. Capital One Investing
Known for their automatic investment plans, Capital One Investing, is a good fit for casual investors and 360 clients. Their discounted automatic trade commission is only 4 dollars, less expensive than many of the larger brokerages. Awarded No 1 Portfolio Builder in Online Reviews. When looking for any new online stock broker it is important to make sure to meet your most important needs as an investor. Are low cost trade commissions most important? What about customer service, the trade platform, mobile trading, active trading, or a community to trade alongside? With many brokers specializing in different areas comparing all the possibilities is key.
What online stock trading platform features matter and why
Investment Products
Investment Products is a category made up of the markets that an online stock broker makes available for someone to trade. Investment Products includes simple choices, like stocks and mutual funds and more advanced choices, like access to futures, forex, and international markets. Investment Products is an important category, especially for those who are selecting a broker based on a desire to trade a specific investment product.
