Which Stock Broker Coupon Code is Best?
With so many stock brokers online, how do you know which stock broker coupon code to chose? In this article we want to help you narrow down the choices by reviewing the top 5 online stock brokers.
#1 Review of Etrade
We will start with the good.
· Etrade has some excellent trading tools. IRA accounts have no minimums with electronic statements.
· It costs $1,000 to open a cash account and $2,000 for margins
· They have penny stocks
· Extended trading hours
· They offer checking, savings, money market accounts, CDs and credit cards
The bad side of Etrade
· The margin rates are high and so are the commissions on investment products
· A large number of customer service complaints
#2 Review of Fidelity Investment
The good news about Fidelity
· The Fidelity mutual funds are low-cost
· The largest selection of research tools online
· No additional surcharges (except a very modest $0.0192 per $1,000 on sell orders)
The negative news for Fidelity
· The non-Fidelity mutual funds have a very high commission rate
· They have a $75 fee for mutual funds sold in less than 180 days after purchase
· High margin rates
· Foreign currency wires have a 3% principal rate
#3 Review of OptionsHouse
Good things about OptionsHouse
· OptionsHouse has the lowest commissions
· Streaming quotes
· While you need an initial $1,000 to start a cash account and $2,000 for margins accounts, there are no account minimums.
· No fee on IRA accounts
· No inactivity fees
· Check writing privileges
Not so good with OptionsHouse
· The trading hours are not extended. They close at 5pm EST
· International investors are not accepted
· Stocks under $2 are not available for options and have a $0.005 per share for the order.
#4 Review of Scottrade
Scottrade’s positives
· No IRA fees
· Large community of online users
· No inactivity, account maintenance or hidden fees
· High customer satisfaction rating
· Streaming Quotes
Scottrade’s negatives
· For stocks under $1, Scottrade adds a 0.5% principal value commission
· No electronic withdrawals
#5 Review of TradeKing
What we like about TradeKing
· Real time quotes are free
· Customer service rate is among the best rated in the business
· Free IRAs
· Their trading tools have won awards
· The commission system is great
· Low margin rates
What we don’t like about TradeKing
· They charge $50 as an inactivity fee
· The charge a penny per share on an any order of stocks less than $2
· They do not accept international investors
Final Thoughts on Online Stock Brokers
Choosing an online stock broker is a very personal decision. You will need to decide which type of stocks you plan on trading and how much you plan on investing. After you do your due diligence, you can choose a stock broker coupon code here to make your initial investment.
