Best online stock brokers for cheap trading 2018 pt money power kinetic energy

Nowadays, you can find dozens of online stock brokers, each claiming to be the best at what they do. But just how many of them can offer cheap trading, expert customer service, lightning fast execution and cutting edge technology? Let’s take a look. The Best Online Stock Brokers

Ally Invest fits right at the top of our list as it seems to do everything very well. Ally Invest has a low per-trade commission of $4.95, which does not change if you utilize a broker over the phone and options trading has the same $4.95 cost, plus a $0.65 fee per contract. If you follow SmartMoney, Barron’s and other graders of online stock brokers, you’ll find Ally Invest (formerly TradeKing) winning awards almost every time they are handed out. Ally Invest offers 24/7 customer support. Finally, Ally Invest is a leader in educating customers and you’ll find hundreds of resources to help both amateur and professional investors. See our full review of Ally Invest.

Scottrade currently offers fee-free IRA accounts and has fantastic customer service. In my 5 years of trading with Scottrade, I have never encountered a single delay, problem or inconvenience. Sure $7 per trade ($32 for broker assisted trades) is more expensive than the $4.95 or even $2.95 that other online stock brokers charge. While many other brokers offer similar services for cheap stock trading, I’ve found one that has been nothing short of fantastic. I’m not about to risk having problems for a dollar here or dollar there. In order to trade with Scottrade, you’ll need a minimum balance of $2500. They will reimburse your transfer fees up to $150 and their iPhone or Android app can be used to access your account and make trades.

Fidelity isn’t your normal online stock broker. They have a very powerful brand behind them, produce quality, low-cost funds, and over the past several years have received major credibility as a “discount broker”. Currently, Fidelity offers stock and ETF trades for a $4.95 commission. This is down from $7.95. To trade options, you’ll pay $4.95 + $0.65 per contract. You’re required to make a minimum deposit of $2,500 to fund your brokerage account. Fidelity offers live chat and 24/7 phone support – It’s free, very fast, and simple to use (I’ve tried it myself). Most mobile devices are compatible with Fidelity. With hundreds of webinars to educate investors, Fidelity is a great place to begin your investing career.

E*Trade is the only online stock broker I can think of that advertises on television, making them the most well known on this list. E*Trade is also one of the more expensive, as they charge $6.95 per trade and an additional $25 if you use a broker to execute the trade. E*Trade is currently offering free trades for the first 60 days of opening your account, but you will have to fund it with at least $10,000 (and of course other restrictions apply). E*Trade’s technology and platform are like no other and for experienced investors, E*Trade by far is your best option. However, for the casual investor, it may be a better idea to go with one of the other brokers, to save money on fees.

Capital One Investing (formerly Sharebuilder) is an excellent trading platform that allows users to make trades online at a price of $6.95. In addition, Capital One Investing now also offers managed portfolios. One of the premier benefits of having an account with Capital One Investing is that it can be connected with your Capital One 360 account, making transactions to and from the bank a snap. There is no minimum required to open an account and they are offering a variety of bonuses based on the amount of your initial deposit. While you need to deposit at least $200,000 to receive $600, you only need to start with $5,000 to earn $50.

ChoiceTrade isn’t your everyday online stock broker and if you visit their website, you’ll know that right away. Rated four-star broker by Barron’s for the last six years, ChoiceTrade offers $5 online trades with NO penny stock surcharge (very hard to find). However, the mail drawback to using ChoiceTrade is their platform. If you’re looking for good technology, you will have to pay for it. Their basic online streaming platform costs $14.95 per month and their premium platform is $135 per month. ChoiceTrade does feature an in-depth investor community where you can ask thousands of fellow users your questions. Also, you can sign up for a virtual account with a $100,000 balance to try out their services.

thinkorswim has been around since 1999, and is now owned by TD Ameritrade. thinkorswim is known as one of the best places to trade options because of their superior technology, as well as a hub for options educational information. In 2017, they were ranked #1 for long-term investing by Barron’s and #1 overall broker by StockBrokers.com. You can trade stocks for a flat fee rate for $6.95 – with no account balance requirement or limit on how often you can make trades. Broker-assisted trades will cost you $44.99. TD Ameritrade is currently offering 60 days of commission-free trading when you fund an account with at least $3,000, and higher initial deposits will earn you an additional cash bonus. They offer 24/7 customer support and they don’t charge any fees for access to the trading platform or other data. TD Ameritrade offers “Paper Money” accounts, to try out different strategies with no real money involved.

SogoTrade is one of the quieter online stock brokers and unless you’ve already signed up an account with them, this may be the first time you’ve heard of them. SogoTrade is one of the leaders in cheap stock trading with a $3 rate for those who make at least 150 trades per quarter (otherwise the fee is $5). With their four unique trading platforms and an app (available for Apple or Android devices), SogoTrade continues to implement game-changing technology. All of their platforms provide customers up-to-the-second data to help them make the well-informed trades. There are no account maintenance fees and the initial required deposit is only $500. SogoTrade protects customer account funds up to $500,000.