The stock markets have been making a comeback over the last couple months and the time to buy stocks at a large discount may be nearing the end. If you have a desire to trade your own stocks then take a look at discount brokerages, which often offer professional quality tools and services at a very reasonable price.
I previously reviewed several brokerages, including Zecco, Sharebuilder, and TradeKing. Each of those brokerages brings something different to the table, as do the discount brokerages reviewed in this article. In my opinion, they all offer a solid product, so be sure to choose your brokerage based on your needs.
Scottrade is one of the top brokerage companies, offering customers over 25 years of experience in the stock brokerage industry. In addition to high quality rankings and a great reputation, Scottrade sets itself apart from other online brokerages because they also have local brokerages where you can meet with brokers and discuss your options in a face to face setting.
- $7 online trades.
- No inactivity or account maintenance fees.
- Free online workshops and access to Scottrade community.
- Free Gainskeeper tax tracking. Many brokers charge for this service.
- Local brokers. Over 450 brokerage offices makes it easy to ask questions in person.
- Additional services, including No-Fee IRAs, no transaction fee mutual funds, CDs and more.
- Voted Best Overall Experience in JD Power’s 2008 Self-Directed Investor Satisfaction Study.
For more information or to open an account, visit: http://www.scottrade.com/
OptionsHouse is a relatively new brokerage that is turning heads with their low prices and professional grade trading platform. OptionsHouse offers all customers a flat rate of $2.95 for limit orders. These low rates also apply to broker assisted trades (most brokerages charge a substantial fee for this type of service).
- $2.95 Stock Trades, $14.95 Spreads, Two tier options pricing (see review link below for more details).
- No Maintenance Fees, Volume Requirements, Monthly Minimums, Connection Charges, or additional charges for broker assisted trades.
- Ability to trade stocks, ETFs, mutual funds, US Treasuries, and other investments.
- Free educational resources, seminars and webinars.
- $100 Transfer Fee Reimbursement to transfer your brokerage account to OptionsHouse.
- Full OptionsHouse review.
For more information or to open an account, visit: http://www.optionshouse.com/
tradeMONSTER is one of the newest online discount brokerage houses, having opened their doors at the end of 2008. tradeMONSTER’s prices and services are middle of the pack compared to some other discount brokerage houses, but they do have features that set them apart. One feature is their award winning user interface, which is fully customizable and features streaming information, removing the need to constantly refresh the page for current prices, news and trends.
- $7.50 stock trades, $0.50 Options Contracts.
- Open IRAs, taxable trading accounts, & more.
- Trade Stocks, Options, ETFs, Mutual Funds and Bonds.
- Customizable user interface, spread trading, fund tools, performance and account analysis.
- $250 Transfer Fee Reimbursement to transfer your brokerage account to tradeMONSTER.
For more information or to open an account, visit: https://www.trademonster.com/
Discount brokerage options
There are many high quality discount brokerages, so be sure to do your research and choose the brokerage that best meets your needs.