Charles Schwab
Provides tools for equity trading and research, ability to research investments, trade reliability, customer service, educational resources, detailed portfolio analysis, ETF choices, help with tax preparation, a platform for options trading, mobile platform and mobile trading ability. Since the time of publication Charles Schwab now owns OptionsXpress.
Fidelity
Provides tools for equity trading and research, ability to research investments, trade reliability, customer service, educational resources, detailed portfolio analysis, help with tax preparation, a platform for options trading, mobile platform and mobile trading ability
TD Ameritrade
Provides tools for equity trading and research, ability to research investments, educational resources, detailed portfolio analysis, ETF choices, help with tax preparation, a platform for options trading, mobile platform and mobile trading ability
USAA Brokerage
Provides tools for equity trading and research, ability to research investments, educational resources, detailed portfolio analysis, ETF choices, help with tax preparation, a platform for options trading, mobile platform and mobile trading ability
TradeStation
Provides tools for equity trading and research, trade reliability, educational resources, detailed portfolio analysis, ETF choices, options trading platform
Low Commissions/Fees
Depending on your account balance, typical transaction size and trading frequency, there are options out there for you to keep your brokers low-cost and in some cases, free. This is to your advantage as online brokers compete intensely on price. However, you might pay more for other amenities like a cash management account or margin trades.
- Interactive Brokers
- TradeKing
- Vanguard Brokerage
- Scottstrade
- Merrill Edge
Equity Trading Tools
This is a preference-based entry. What do you like to see when you open your interface? Remember, this is your connection to the stock market, so it has to work for you. Do you prefer a broker that shows you how much you have invested and how much is on margin? Or maybe a broker that shows you buy-and-sell entries.
- TradeStation
- Charles Schwab
- TD Ameritrade
- Fidelity
- Interactive Brokers
Customer Service
We recognize good customer service nowadays as a helpful representative on the phone with short hold times, but with online brokers, it means much more. Great customer service in the online brokerage world also includes the ability to chat online with a live representative who is responsive and knowledgeable.
- USAA Brokerage
- Charles Schwab
- Fidelity
- Scottstrade
- Vanguard Brokerage
Research Tools
With these online brokers, pursue those companies you are interested in, but have the ability to do your own extensive research first. Use the tools provided by these brokers to match the fundamental characteristics you are seeking. Also have the ability to research mutual funds, ETFs, bonds, and other investments.
- Charles Schwab
- Fidelity
- TD Ameritrade
- TradeStation
Investment Research
In the constant battle for customers, online brokers are continuously improving their research offerings. For these brokers to have that help them win new customers and retain current ones. These companies provide stock reports, Wall Street buy and sell ratings, financial forecasts, research on mutual funds, ETFs, options, and other investments.
- Fidelity
- Charles Schwab
- TD Ameritrade
- USAA Brokerage
- Scottstrade
Portfolio Analysis/Reports
Common sense says that investors will want as much information as possible to help them manage their money. This means the ability to see how the allocation of your assets have changed as your investments advance or how your investments are doing this year vs. the broad market. These brokers help customers analyze their porfolios and stay on top of their investments.
- Fidelity
- Charles Schwab
- TD Ameritrade
- TradeStation
Mobile Platform/Trading
Today, it’s much easier to perform tasks on the go via smartphone or tablet. Some brokers provide real-time quotes, streaming charts, stock research reports, and technical analysis with a handy app. These online brokers have mobile platforms that are so easy to use that many prefer making trades on them rather than their PCs.
- Charles Schwab
- USAA Brokerage
- E-Trade
- TD Ameritrade
- Fidelity
Educational Resources
Online brokers provide resources like Web tools, downloadable software, or online videos that help investors further their education in the market. Some brokers even have one-on-one consultantations with financial advisors available to qualified customers.
- Fidelity
- TD Ameritrade
- TradeStation
- Charles Schwab
Options Trading Platform
It is no secret that options are different from most investments; far more complicated than stocks. Education and knowing what you’re doing becomes very important when dealing with options. According to investors, these brokers are considered sophisticated, offer high-tech trading platforms, and place an emphasis on educating customers.
- TD Ameritrade
- Interactive Brokers
- Charles Schwab
- TradeStation
ETF Choices
ETF providers and online brokers are coming together to offer free trading of their funds, but it is very important to examine the details. When dealing with brokers who offer free trading, there is typically a limited number of funds, account requirements are different, and may charge fees for frequent or short-term trading
- Charles Schwab
- Interactive Brokers
- Vanguard Brokerage
- TD Ameritrade
- TradeStation
*The Midas Legacy is not affiliated with these brokers. It is your responsibility to research a broker to decide it they are the best for you.
