Investing your money can be one of the most important decisions you make in your life. Choosing the right stockbroker for the job is an essential part of that decision. To help you pick the right broker, we provide this guide to the 11 best online stockbrokers of 2023.
Since each works a little bit differently, you should be able to find the right broker for your investment style and preferences.
The table below summarizes all 11 brokers, including what each is best for and its primary features. Scan the table, then scroll down to the detailed description of each broker below.
Table of Contents
- Our Picks for 11 Best Online Stock Brokers
- Best Online Stock Brokers – Reviews
- Online Stock Broker Guide
- How to Choose the Right Online Stock Broker
- Things to Keep in Mind
- How We Found the Best Online Stock Brokers
- Summary of the 11 Best Online Stock Brokers of 2023
- The Bottom Line – 11 Best Online Stock Brokers of 2023
Our Picks for 11 Best Online Stock Brokers
Below is our list of the 11 best stockbrokers of 2023:
- Charles Schwab: Best All-Around
- Fidelity: Best All-Around Runner-up
- M1 Finance: Best for Automated Account Management
- E*TRADE: Best for Tools for Beginners
- Firstrade: Best for Options Trading
- TD Ameritrade: Best Trading Platform
- Robinhood: Best for Fast Trades & Crypto
- Zacks Trade: Best for Active Investors
- USAA: Best for Military Personnel
- Acorns: Best for Account Funding for Beginners
- Stash: Best for Account Funding for Beginners, Runner-up
Best Online Stock Brokers – Reviews
Minimum Investment: $0
Investments Offered: Stocks, bonds, ETFs, mutual funds, options, futures, and CDs
Available Accounts: Joint and individual accounts; traditional, Roth, rollover, SEP, and SIMPLE IRAs; Solo 401(k)’s; trusts and custodial accounts
Fees: $0 for stocks, options, and ETFs; over 4,000 commission-free mutual funds
Though it started out as one of the original discount brokerage firms, Charles Schwab has grown to be the largest retail investment broker in the world. And it’s not hard to see why.
Not only do they charge no fees for investing in stocks, options, and ETFs, but they also offer plenty of other benefits for investors.
That includes 24/7 customer service, their own robo-advisor, and one of the best trading platforms in the industry. The company is consistently voted one of the top investment brokerages for customer service. Schwab is perfect for investors at all levels, from beginners to advanced traders.
Minimum Investment: $0
Investments Offered: Stocks, bonds, mutual funds, ETFs, options, and other securities.
Available Accounts: Joint and individual accounts; traditional, Roth, rollover, SEP, and SIMPLE IRAs; Solo 401(k)s; trusts and custodial accounts
Fees: $0 for stocks, options, and ETFs; more than 3,000 commission-free mutual funds
It’s really a toss-up whether Schwab or Fidelity is truly the best all-around investment brokerage. The two match each other in almost every category, including investments offered, available accounts, and fee structure.
Like Schwab, Fidelity also offers its own robo-advisor and is one of the largest mutual fund families in the world. And again, like Schwab, Fidelity offers outstanding customer service.
Though it won’t affect you unless you have your 401(k) held through Fidelity, the company is now offering Bitcoin for plan participants.
It may be that crypto in 401(k) plans is just the beginning, and the company will eventually roll them out to individual retirement and brokerage accounts.
Minimum Investment: $100 ($500 minimum for retirement accounts)
Investments Offered: Individual stocks and ETFs
Available Accounts: Individual and joint taxable investment accounts; traditional, Roth, rollover, and SEP IRAs
Fees: 0%; $95 per year for M1 Plus (with 3-month promotion)
There’s a lot to like about M1 Finance, even though it’s anything but a traditional investment broker. Instead, it’s a robo-advisor that lets you choose your own investments and provides automated management for your portfolio.
That includes dividend reinvesting and periodic rebalancing.
M1 Finance works on a system they refer to as “pies.” Each pie can hold up to 100 securities, and there’s no limit to the number of pies you can hold in your account. You can choose from hundreds of ETFs and thousands of individual stocks to hold in your pies.
And perhaps best of all, M1 Finance charges no fees to manage your pies, and no fees to purchase the securities in them.
Minimum Investment: $0
Investments Offered: Stocks, bonds, ETFs, mutual funds, options, currencies, and futures
Available Accounts: Individual and joint investment accounts; traditional, Roth, and rollover IRAs
Fees: $0 stocks, ETFs, and options (+ $0.65 per contract fee); more than 4,000 no-transaction-fee mutual funds
E*TRADE isn’t one of the bigger investment brokers, but they make up for their lack of size with the quality of their service.
They match the industry with commission-free trading, provide all types of brokerage and retirement accounts, and offer one of the better trading platforms in the industry. That includes their Power E*TRADE platform, which is particularly helpful for options traders.
E*TRADE offers one of the best new account bonus programs in the industry, paying as much as $3,500 to open a new account.
Minimum Investment: $0
Investments Offered: Stocks, bonds, ETFs, mutual funds & options
Available Accounts: Individual and joint accounts; traditional, Roth and rollover IRAs
Fees: $0 for stocks, ETFs, and mutual funds; no commissions or contract fees on options
Firstrade takes first place in the industry for options trading. For starters, they charge no commission or contract fees on options trades. That will enable you to keep more of the profits on your trading activity.
But they also offer one of the best training platforms in the industry. It includes investor tools and research resources, as well as one of the most comprehensive sources of investment news in the industry.
Firstrade may also be the best trading platform for mutual funds. They offer more than 11,000, which may be the largest selection available in the industry. What’s more, they charge no commissions for trades on those funds.
Minimum Investment: $0
Investments Offered: Stocks, bonds, ETFs, mutual funds, options, FOREX, and futures
Available Accounts: Individual and joint taxable accounts; traditional, Roth, and rollover IRAs
Fees: $0 for stocks, ETFs, and options (+ $0.65 per contract fee); $49.99 per trade on no-load mutual funds
Much like E*TRADE, TD Ameritrade is a smaller version of the bigger trading platforms. There’s no required minimum investment, and they offer all common investment securities and a full range of brokerage and retirement accounts.
The company also offers a zero commission on trading most common securities.
But the real strength of TD Ameritrade may be its trading platform. Their award-winning trading platform, thinkorswim, provides professional-level trading for serious traders.
That includes advanced tools to perform analysis and test strategies, as well as idea generation with market trends and the ability to analyze the risk and reward of trades. The platform is fully customizable.
Investors should be aware that TD Ameritrade is scheduled to be merged with Charles Schwab sometime in 2023. That shouldn’t be a problem, since Schwab is our choice for the best all-around investment broker in the industry.
Minimum Investment: $0
Investments Offered: Stocks, ETFs, options, and cryptocurrencies
Available Accounts: Individual taxable investment accounts only
Fees: $0.000145 per share (equity sells); no greater than $7.27 per trade$0.00244 per contract (options sells)
Robinhood may be THE simplest investment broker in the industry. That’s because it was designed specifically to be a trading app for new investors. It’s easily one of the best investment apps available.
They were the first brokers to introduce commission-free trades, forcing the rest of the industry to follow suit. The simplicity of the platform makes for very fast trades.
But they have spread their product wings, and now offer all kinds of investing, including options. One of the most unique is cryptocurrencies.
You can now buy and sell numerous cryptos on the platform, alongside your more conventional holdings in stocks, ETFs, and options. And like trades in other securities, crypto can be traded commission-free.
Minimum Investment: $2,500
Investments Offered: Individual and joint accounts; traditional, Roth, rollover, and SEP IRAs; trusts, and limited partnerships
Available Accounts: Stocks, penny stocks, bonds, ETFs, options, mutual funds, and Forex
Fees: $0.01 per share ($1 min. per trade) on stocks & ETFs greater than $1 per share; 1% of value on stocks & ETFs less than $1 per share, with $1 minimum per trade; options, $1 for the first contract, then $0.75 per additional contract; $27.50 for mutual funds
In the investment universe, Zacks is synonymous with advanced investment information.
The company started out as an investment research firm, Zacks Investment Research, which is widely used and quoted throughout the industry. But they have since added a brokerage capacity, and it’s a good one.
Zacks offers three different trading platforms, the most advanced of which is Zacks Trade Pro. It offers a fully customizable interface, as well as abundant tools and resources to keep you at the top of your trading game.
For example, it offers more than 120 technical indicators to help you evaluate stocks.
Minimum Investment: $0
Investments Offered: Stocks, bonds, mutual funds, ETFs, options, and CDs
Available Accounts: Joint and individual accounts; traditional, Roth, rollover, SEP, and SIMPLE IRAs; Solo 401(k)’s; trusts and custodial accounts
Fees: $0 for stocks, options, and ETFs; over 4,000 commission-free mutual funds
USAA started back in the 1920s, primarily offering insurance products. However, they have since expanded their product menu to include banking, investing, retirement, financial advice, and other services.
But USAA is unique on this list because you must be either a veteran or an active member of the U.S. military or a family member, to be eligible to open an account.
USAA offers its investment services through Charles Schwab, so available accounts, investments, and fees are identical to those of Schwab.
But USAA is nonetheless an excellent choice for qualified military families who want to invest while taking advantage of the many other financial services offered by the company.
Minimum Investment: $0 to open, $5 to invest
Investments Offered: ETFs invested in U.S. and foreign stocks and bonds, real estate investment trust index fund, and Bitcoin
Available Accounts: Individual & joint investment accounts; traditional, Roth, rollover, and SEP IRAs
Fees: $3/mo. Personal plan; $5/mo. Family plan
Acorns is one of the most innovative investment platforms in the industry. They function primarily as a robo-advisor, providing automated investment management for a portfolio of ETFs, a REIT fund index, and now Bitcoin.
But it’s how they go about providing that service that sets them apart from the competition.
Acorns recognizes that one of the biggest obstacles for new investors is obtaining the money to begin investing. They get around that problem through their “Round Ups” program.
That’s where investors connect the Acorns app to their primary spending account, and then have their purchases rounded up to the nearest dollar.
The change is held until it reaches $5 and is then transferred over to the investment account. That gives investors an opportunity to both invest and accumulate the money to invest, using the same service.
Minimum Investment: $0 to open, $5 to invest
Investments Offered: Stocks and ETFs
Available Accounts: Individual brokerage accounts, traditional and Roth IRAs, and custodial accounts
Fees: $1/mo. Beginner plan; $3/mo. Growth plan (incl. Retirement); $9/mo. for Family plan
Stash works much the way Acorns does in that it provides you with a way to accumulate the funds to invest, in addition to investing itself. You can contribute a flat amount to your account at regular intervals, like $5 per week.
That enables you to build up your portfolio over the long term and without a lot of financial sacrifice.
They also offer their Stock-Back Card, which is a debit card that allows you to earn stock every time you spend using the card.
Stash offers three different pricing plans. Beginner provides a personal portfolio, investing advice, bank access, and $1000 in life insurance for a monthly fee of $1.
Growth offers everything in the Beginner plan but also provides personal financial advice, and access to their Smart Portfolio and a retirement account. Growth is available for $3 per month.
Finally, Stash+ offers all the features of the other two plans but also provides family advice, market insights, custodial accounts for two children, banking access, and $10,000 in life insurance.
Online Stock Broker Guide
What Is an Online Stock Broker?
In the simplest terms, an online stock broker is one that facilitates online investing. That means you can perform all investment activities online from your home computer, work computer, or even your mobile device.
There’ll be no need to visit your broker’s office and only the occasional need to make a phone call.
The industry has advanced to the point where a typical online stock broker can provide all the information and services brick-and-mortar offices used to offer. In fact, you can typically obtain more information through an online account than you can at a broker’s office.
How to Choose the Right Online Stock Broker
Perhaps a more basic question is: what is a brokerage account? A top-of-the-line online stockbroker should be able to provide all the services you would normally obtain at a broker’s office.
There are many factors that go into that arrangement. First and foremost is the ease of use of the platform. It should be simple enough that you’re able to execute trades with relative ease after making the first two or three transactions.
Next, look at the availability of investor tools and research resources. This varies greatly from one platform to the next. Some provide advanced charting and technical indicators, while others are mostly about executing trades. You’ll need to determine which platform will work best for you.
You should also consider customer service, even if you don’t use it very often. It can often be comforting to have 24/7 access to live customer service, even if you don’t use it very often. In fact, some investors prefer brokers that also have local branches.
This is an area where both Charles Schwab and Fidelity stand out, each having hundreds of branches across the country.
Finally, are you able to move funds into and out of the account quickly and easily? This is true of most online brokers today, but check their latest funds transfer guidelines. Also, be aware that there are sometimes fees associated with funds transfers, especially outgoing transactions.
Things to Keep in Mind
The investment process isn’t necessarily as simple as opening a brokerage account and then starting investing. You need to understand what it is you’re doing and create a strategy to reach your investment goals.
Invest Now
One of the foundational realities of investing is knowing why you must start investing now. Some people approach investing casually—I’ll get to it later, but I have more pressing concerns now.
While it can make sense at the time, there’s a strong connection between investment success and when you begin.
The sooner you begin investing, the more time your investments will have to grow. That’s why it’s important to begin as soon as possible.
Understand What You’re Investing In
Generally speaking, the safest investment choice for new investors is investing in funds. That includes mutual funds and exchange-traded funds (ETFs). But you may also want to build your knowledge base on how to start investing in stocks.
At some point, you may want to try your hand at individual stocks, and you’ll need to fully understand what it is you’re getting into. The same is true with any other investment type you want to dive into.
Choose the Right Investment Broker
That’s what this guide is all about. Make sure the online broker is one that fits your personal style and preferences.
But it should also accommodate various account types, like taxable brokerage accounts, retirement accounts, and even custodial accounts if you have children. That’ll avoid the need to maintain accounts with multiple brokers.
Fees Matter!
We’ve included low- and no-fee brokers for exactly that reason. Fees reduce your investment returns and increase investment losses. In the grand scheme of investing, fees should represent either a tiny percentage of your investment gains or—better yet—be completely invisible. It is possible.
Diversify
This step is often overlooked by new investors looking to “make a killing.” Despite what you may hear on social media, investing is not about making a killing. It’s about earning consistent returns while not taking on undue risks.
One of the best ways to make that happen is by diversifying your portfolio across multiple asset classes.
But it may help to move beyond the basic mix of stocks and bonds. For example, real estate is an excellent diversification for stocks. Check out Jeff’s My Fundrise Returns article to see how he is using this crowdfunding platform to include real estate in his portfolio.
Still, another diversification, the one that should occupy the smallest slice of your portfolio, is cryptocurrency. Spend some time researching how to invest in Bitcoin. It’s the largest and most popular crypto and may be worth holding a small position as speculation.
How We Found the Best Online Stock Brokers
To determine what we consider to be the best online stockbrokers, we relied heavily on the following criteria:
- Minimum Investment: In most cases, we’ve favored brokers with no minimum initial investment required. That allows the greatest number of investors to participate, including new investors.
- Investments Offered: This is an important category because even if you only intend to invest in funds, the day may come when you want to spread your wings into individual stocks and other investment.
- Available Accounts: Though it isn’t the case with all the brokers on our list, we prefer those that offer individual and joint brokerage accounts, as well as the widest range of retirement accounts. That can enable you to hold multiple accounts with the same broker.
- Fees: In choosing any service to work with, fees are always a factor, especially for brokers. Fees represent a reduction in your investment returns. That’s why we’ve emphasized brokers that offer commission-free trading on the most common investment types.
Finally, we considered what each broker specializes in. For the most part, there’s no one-size-fits-all when it comes to investment brokers.
If you’re an active trader, you may prefer Zacks Trade. If you like trading options, you’ll like Firstrade. If you prefer a managed portfolio option, M1 Finance will be an excellent choice.
Summary of the 11 Best Online Stock Brokers of 2023
But one last look at our lineup of the 11 best online stockbrokers of 2023:
- Charles Schwab: Best All-Around
- Fidelity: Best All-Around Runner-up
- M1 Finance: Best for Automated Account Management
- E*TRADE: Best for Tools for Beginners
- Firstrade: Best for Options Trading
- TD Ameritrade: Best Trading Platform
- Robinhood: Best for Fast Trades & Crypto
- Zacks Trade: Best for Active Investors
- USAA: Best for Military Personnel
- Acorns: Best for Account Funding for Beginners
- Stash: Best for Account Funding for Beginners, Runner-up
It can be somewhat complicated to decide which among the 11 brokers will work best for you. But decide what your investment preferences are and see which platform best matches those. That should make your choice easier.
But the single most important investment ingredient is just getting started! That being the case, choosing an investment broker—and beginning your investment journey as soon as possible—is at least as important as deciding on the right broker.
The Bottom Line – 11 Best Online Stock Brokers of 2023
The landscape of online brokerage platforms has evolved tremendously, offering a plethora of options for investors, whether they are novices or seasoned traders.
These platforms have successfully migrated the comprehensive services traditionally found in brick-and-mortar brokerage offices to the digital realm, facilitating ease of access, a suite of investor tools, and diverse investment opportunities right at the fingertips of investors.
The assortment of online brokers now caters to a broad spectrum of preferences and requirements, ranging from automated account management to active trading.
This piece illuminates the tailored features of various platforms, aiding individuals in making an informed decision when selecting an online broker that aligns with their investment strategy and goals.
Moreover, the emphasis on beginning the investment journey sooner rather than later, understanding the nuances of investment choices, and the criticality of diversification underscore the foundational principles for achieving sustained investment success.
Through the detailed breakdown and insightful recommendations, investors are better positioned to navigate the digital brokerage realm, making strides towards financial growth with a broker that resonates with their investing ethos.
I, as most regular folks, don’t have alot of money. I’m retired army but can manage to same a little in hopes of earning a better return that a savings account. All of the above companies look, sound exciting, but in the end who knows. I guess calling each one and deciding later. Thanks for the info.
hi thanks for the information
You’re welcome!
Hi Jeff thanks for valuable info, it seems though that most organisation here are focused on US citizen, any updates on non Americans or for Europeans?. thx Stephen
Hi Stephen – Try Googling brokers in your home country, or looking for reviews of brokers in your country. I focus on the US market and I’m not aware of which brokers are available in different countries.
I was looking for the way to open a brokerage account for a long time. Finally, with
your free information, I got it. I am grateful. May God bless you!
You’re welcome Koffivi!
That’s a pretty good list. Couple comments. First, beginners should do a lot of research before they bother with trading online. Most of the conventional information about trading is worthless…trading is much more difficult than what it appears. Secondly, I like Schwab among the discounters as well. But, for the really experienced trader, TradeStation is worth a mention due to its strategy testing platform. With all that said, you’ve got a great blog!
I won $10K and want to “circulate” them in a small investment that hopefully will grow them. I would really appreciate someone’s professional advice, especially because I haven’t invested in anything yet and not sure what and how-to. I have a work in the healthcare industry and have steady income with 403(b) from Principle Financing Group. Planning on buying a new home in 2-3 years from now, and major goal is to grow the mentioned money, so I can have extra confidence in my downpayment. However, I’d love to think about ROTH IRA, mutual funds and etf’s, but really need someone to guide me thru the whole process, at least in the beginning. Thank you so much in advance.
Hi Emil – Since you’re a new investor, you might want to go with Betterment if you’d like to have someone else manage your investments for you – they’ll take care of everything. If you want to get into various investments, you might want to go with a low cost broker like Trade King. Either can help you set up a Roth if that’s what you want to do. But please discuss your options with someone who knows your financial situation better. I’m just a guy on the web who doesn’t know you personally 😉
It is really amazing that people don’t ever even need to leave their houses or go to a broker to start investing. Of course, I know I would still appreciate the professional advice, especially because I haven’t invested in anything yet. I really like that some firms have the option for trading using mobile devices. I do most of my banking on my phone, so this would be ideal for me.
Hi I opened an online trading account several years ago and forgot about it. It was called Mysavings or something like that. You could start my investing in mutual funds for $5. Although I have my log in info I can’t find the company anywhere online? Any ideas?!
Hi Tiffany – You might go back and check bank and credit card records (or did you fund it with payroll deductions???) and see if you have any leads there. Also, check your emails from around the time you started the account. You probably just need the name of the company, and you can go from there.
I use three brokerage accounts: Fidelity, Interactive Brokers, and Capital One/Sharebuilder. Each is excellent in its own way. Fidelity has simple to understand research and no-fee IRAs and a reasonable $7.95 trading fee. Interactive, well they have unbelievably low margin rates (well below the prime rate), a trading fee of . . . get this . . . $1.00 for 200 shares . . . and a simple method of assigning lots to sales prior to settlement (great for minimizing taxes on gains.) Capital One/Sharebuilder has a reasonable $6.95 trading fee and you can choose automatic reinvestment of dividends at no fee. Why have just one broker?
Any opinions on the brokers offering no-fee trades, like Robinhood? I read in their FAQ that they offer free basic trades and hope/intend to make money off their optional margin accounts, and it seems legit. Wondered if there was anything I was missing.
Hi Joe – I can’t confirm anything on those services, but I will say that technology is changing the game. Investment platforms are popping up that allow very low cost or even free trades. Rest assured they’re making money one way or another. One thing to keep an eye on though is that some of them are being funded by investors who are providing the operating capital while the platform builds up its business. Presumably the investors will make back their investment as the platform grows and becomes profitable. We’ll have to wait and see.
We use Schwab and Fidelity at the registered investment advisory firm that I work at. I love both. Before working as a financial planner, I used TradeKing because it is so cheap! The biggest thing to watch out for is the fees. As long as you get the lowest fees, then you’re in good shape at most places.
Thanks for the great info. I tried to sign up for Betterment but they require a US mailing address. What are the best online brokers for beginners who aren’t US citizens and live outside of the U.S?
Thanks!
@ Teddy That’s a great question. Unfortunately, I’m only familiar with US online brokers.
Thanks for this Jeff. One of the challenges I have is looking beyond the face to face, knee to knee, mindset of having our financial planner right there in front of us. Everything in our life is online, virtual, and via text/email. However, I can’t seem to let go of that in-person advisor that we have had since our mid 20s. What do you think? Are we using archaic methods and overpaying when we no longer need to be? I’d love to hear your thoughts 🙂
@Chris That’s a tough one! One way I can relate is the CPA I’ve been using for the past 10 years. I know he charges me a bit more for his services, but I also know he knows our situation more so than anyone else. That’s worth the extra cost, IMHO.
I’m not sure the financial arrangement with your advisor, but if you’ve been a client for a considerable time and and are under the AUM model (fee %) then asking for a discount isn’t wrong of you. Plus it never hurts to ask. 🙂
I live in the UK. Obviously we don’t have IRSs and mutual funds in the UK. You mention everything in dollars. Can I still access these online brokers and mutual funds from the UK at the same costs ? Or is there a higher fee for those out of the US?
Good job man!
No mention of Vanguard. Why????
@ Edward Vanguard is another solid choice. I didn’t mention them here since they require $1,000 minimum on their target date funds, $3,000 for most of their other funds and $10K on their Admiral series. I wanted to highlight online brokers that a new investor with only $50/month could get started.
In other words fund my new account. I dont have a bank account. Never had one. So most trade co. Want 500 to 2 thou. To start. Is anyone cheaper than 250.00 to fund account for the 1st time? I believe ameritrade will for 50 bucks but im not sure. I just need to get started some how. Can anyone help guid me in the right direction?
Im new and this 500 cash start up is way over my head. Where can I start trades for 50 deposit like ameritrade?
Is Gorilla trade a good place to begin as a new investor. I have four specific stocks that I want to limit my investing to at this time.
Thanks for listing my options, Jeff. I am short on cash, so no investing for me until I get my income up. But once I do, Betterment seems like the easiet option to get my feet wet. And thanks for the warning. I always recommend you don’t buy anything you don’t understand, and that goes for investing as well. Taking time to do some basic research on a stock can save thousands in the long run.
@Jacob I thought Betterment had a neat concept when they first came out, but the fees were a bit on the high side. Ever since their price reduction, it’s hard not to recognize what they offer. Even if you did it yourself, what you save is pittance in exchange of constantly monitoring your portfolio and making the appropriate changes.
I was with Betterment for 6+ months if i remember it correctly. Even though the market was volatile around that time even with a portfolio of 70% stocks + 30% bonds, i kept losing money. Obviously with a 90+10 mix i lost even more. I’m not a pro trader but still i could sense their portfolio selection is not great for the end investor, maybe good for their own pocket. I had a Wisebanyan account around the same time with similar portfolio distribution and there my losses were quite limited and when the market was up, it did earn me money. After few trial and error, withdrew all my money from Betterment and put in Wisebanyan.
P.S: I’m not affiliated to Wisebanyan in any way other than investing through them. Just wanted to give my experience (though i know mileage would vary across different people) for anyone who might be wondering if Betterment is a good choice.
Jeff,
Great article. I come across quite a few people that cannot necessarily become clients, but need some direction for opening their first Roth IRA or finding a place to park some extra savings and earn some interest (that’s better than a bank!).
Like most of your posts, this a great plain-English summary of some of the better services out there. I’ve bookmarked this for future use.
Thanks.
Thanks, Robert. This is why I started to do more of these posts, too. Many young or beginning investors are intimidated in sitting down with a financial advisor. If they can get their feet wet using an inexpensive online broker, at least they are getting started which is more than half the battle.
I am a novice also. I am signed up with Optionshouse. The display is very complicated. The good news is that they let you play with $100,000.00 paper money to get acquainted with the site, which is what I am doing now before I ever fund the account.
Great summary Jeff. I went with Sharebuilder because I liked the low cost when you set up automatic investments. I have it set up with monthly purchases with dividends reinvested so it is pretty cool to just watch it grow all on its own.
@ Mike Dividend investing is fun especially if you’ve got a few years under your belt to see how dividends can actually grow your account.
I have also heard of OptionsHouse. Have you heard anything or have experience with them? I’m looking to start investing and read on one site that they are very good and have cheap trades. I have since forgotten what site I got that info from so I can’t go back and see what reasons were given other than that.
Great article and thank you for your review! It is true that investing in mutual funds is a way to go because stocks are mostly used by speculators and their prices are highly manipulated. Let professional do the trades by investing in a mutual fund. These guys can make a decent profit every year.
@ Chelle I’m not really that familiar with OptionsHouse. Money Crashers has a pretty good review of them that might help you: http://www.moneycrashers.com/optionshouse-review-discount-broker-options-traders/
I am a novice also. I am signed up with Optionshouse. The display is very complicated. The good news is that they let you play with $100,000.00 paper money to get acquainted with the site, which is what I am doing now before I ever fund the account.