optionsXpress offers discount brokerage services including free tools, research and education for online stocks and options investors.
www.optionsXpress.com
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Commission free trades for 30 days. No maintenance fees. Sign up now.
TDAMERITRADE.com
A Variety of Products & Services to Fit Your Investment Strategy!
www.Scottrade.com
$4.95 Trades + $.65 per contract, SmartMoney Top Discount Broker 2007
www.TradeKing.com
Personal service & a huge rebate. Broker with 10 years of experience.
www.onepercentbroker.com
Get our Free Report reviewing the Biggest Discount Brokers.
www.BrokerAdviser.com/
Brokerage Offering No Acct. Min. No Inactivity Fees. Start Today!
www.ShareBuilder.com
A wholly owned subsidiary of 1st Internet Financial Services, Inc. (1IFS), 1db.com provides full service and discount brokerage services to individuals and institutions.
www.1st-discount.com
Based in Dallas, Texas. Securities offered through 1st Global Capital Corporation, member NASD, SIPC.
www.1stglobal.com
Acts as a discount broker in stocks and options for qualified clients who make their own decisions. Subsidiary of JP Morgan Chase.
www.brownco.com
Chinese brokerage with offices in Hong Kong, Taiwan and the US. Site offers trading, investment ideas, quotes & news as well as customer service.
www.dashin.com
Discount broker for individual investors, also providing online trading services.
www.discountbroker.com
Located Cedar Rapids, Iowa, Frontier serves a national and international client base of individual and institutional traders and hedgers.
www.ffutures.com
Based in the UK and serves as an execution discount service and does not provide any investment advice.
www.financial-discounts.co.uk
Providing investors service and commitment at discounted commission rates. Offers customers two different investment account alternatives: Internet (HIL Online Account) or (HIL Conventional Account) or both.
www.harrisinvestorline.com
With InvestEXpress On-Line clients can place trades, obtain quotes, view positions, money balances and executed orders.
www.investexpress.com
The deep discount electronic stock brokerage division of Regal Discount Securities. Charges one flat rate for electronic stock trade executions, with no limit on size.
www.investrade.com
Privately owned and independent brokerage operating in the UK. The firm has no minimum portfolio or transaction size.
www.killik.co.uk
Located in Springfield, Missouri, MDB is a National Association of Securities Dealers registered Broker/Dealer with a focal interest in stock, bond, mutual fund and variable insurance products.
www.mdbi.com
Brokerage house headquartered in Greece. The site only offers information and execution in Greek.
www.naseco.gr
Offers traditional brokerage services and discount brokerage services. Site includes information in the form of research, investment articles and book reviews as well as product information.
www.nestlerode.com
Fully disclosed, registered broker/dealer providing many of the same benefits as a full service brokerage firm. Traders may get high speed execution and access to all markets at lower commission rates.
www.nextrend.com
Service of Banc One Securities Corporation. An account with OneInvest gives access to free real-time quotes, free news, and online trading of mutual funds, bonds, stocks, and options.
www.oneinvest.com.my
optionsXpress offers discount brokerage services including free tools, research and education for online stocks and options investors.
www.optionsXpress.com
Clients receive direct access to traders, services with discounted commissions, news articles, and earnings reports, by fax or mail service.
www.otcstocks.com
Online trading site of Scottsdale Securities, Inc. offering investment services in stocks, options, mutual funds, listed coporate bonds, treasury issues, and retirement accounts.
www.scottrade.com
Canadian discount brokerage service. Online features include quote services, order entries, account enquiries, links, news items, stock alerts, multiple searches, glossary and support line.
www.sdbi.com
Online trading, portfolio analysis, stock, options and mutual fund quotes, graphs, charts, tickers and company news. Does not offer brokerage services to residents of New Hampshire and Puerto Rico.
www.supertradeusa.com
Full service discount brokerage firm and an affiliate of Josephthal & Co., Inc.
www.trade-well.com
Servicing the needs of global investors, independent financial advisors, brokers, banks. All positions and funds in the client accounts are held in custody by Herzog Heine Geduld.
www.wallstreete.com
Located in New York, New York. Strives to offer premium brokerage services at discount prices for the sophisticated trader and believe premium service means great executions.
www.wsaccess.com
Located in New York, New York. Clients can use a broker, the Internet or touch tone telephone as well as trade equities, mutual funds, options, corporate & municipal bonds, and foreign securities.
www.wsdc.com
Independently owned and operated deep discount brokerage firm. WSE is registered in all states and territories of the U.S. with the exception of Wisconsin and Hawaii.
www.wsei.com
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Commission free trades for 30 days. No maintenance fees. Sign up now.
TDAMERITRADE.com
A Variety of Products & Services to Fit Your Investment Strategy!
www.Scottrade.com
Guide to Discount Brokers
How to find a good discount broker who suits your investment styleFor a young investor starting out with a small pool of capital, discount brokers are usually the way to go because the savings over a full service broker are significant. Furthermore, many online discount brokerage firms offer a lot of useful information that can take the place of one-on-one advice. Investing on your own is a good way to learn about the market so that you become a smart, disciplined investor.
There is no magic-bullet solution for choosing the right discount brokerage firm for you. To do it well, you need to take your investment style into consideration, then navigate your way through a myriad of pricing structures and service options.
1. Identify your investment style.
2. Choose a pricing structure that compliments your trading habits.
3. Choose a discount and a deep discount brokerage firm. Discount brokers won't have local branches, but many do put out materials to help their investors. This is different from a deep discount brokerage firm that executes trades only.
Action Steps
The best contacts and resources to help you get it done
Start comparing discount brokers
Yes, it's a drag, but savvy investors know that there's no way around the task of comparing brokers. Put on your reading glasses and start scrolling through commission schedules and account minimums.
I recommend:
The Motley Fool offers a breakdown of reputable online discount brokerage firms. Remember that this information represents an overview of comparable fees and services. See Investopedia's breakdown of common fees and how to avoid them.
Get the skinny from customers and experts
If you think you've found that special discount brokerage firm to be your investment partner, make sure exactly what they're about before you trust them with your money.
I recommend:
Rate brokers at a glance by checking out Smart Money's chart of broker ratings. Be sure to search for your firm at FINRA, a national non-government securities regulator.
Learn the lingo
Striking out on your own with a discount or deep discount brokerage firm means that you're taking responsibility for making smart investing decisions. Take the time to learn about the market and stay on top of current conditions.
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Investopedia lists a number of free newsletters delivered straight to your inbox. Sign up to receive an investment term of the day, or keep track of what Warren Buffet was up to this week.
Find online discount brokers
Online discount brokers are the way to go for busy professionals who work long hours. This is your best bet if you don't want a lot of frills or extra charges for the full-service treatment you may not need.
I recommend:
Fidelity, TD Ameritrade, Scottrade and ShareBuilder got high marks from Consumer Reviews for the best online discount brokers. Consumer Reviews also offers expert analysis and customer evaluation surveys from sources like Forbes, Barron's and J.D. Power and Associates.
Tips & Tactics
Helpful advice for making the most of this Guide- If you're an investor who likes to trade, choose a discount broker who charges a low fee for buying and selling. If you like to hold onto your stocks, avoid monthly inactivity fees. Of course, most investors are somewhere in between; if this is you, find a smart compromise.
- Discount brokerages who do business online are cheaper than discount brokerages that let you trade over the phone. However, make sure you can talk to a broker in case of an emergency.
- If you think you might want individualized help from time to time, choose a brokerage firm that gives you the option of speaking with an expert. Usually, you'll be charged on a per-transaction basis for this service.
