While these brokers are some of the more popular, there are a number
of other online brokers you should also consider.
If you are in the market for more complex investments or are a frequent trader, though,
other online brokers offer better options for you.
I have been a client for 5 years and like the model of a designated account manager they offer — something that is now copied
by other online brokers.
TradeKing sets itself apart
from other online brokers by putting the customer first and providing a lot of free tools and services that other brokerages don't.
However, it seems that after initial purchasing of a stock, subsequent trades are only $ 4.95 which seems lower than ScottTrade and
most other online brokers (around $ 7).
The mobile app launched in April 2017, and while it trails industry leaders such as Wealthfront and Betterment, it is a winner in my books, especially compared to
other online broker robos such as Fidelity Go, E * TRADE, and Merrill Edge Guided Investing.
ShareOwner is just
like other online brokers in that it's a member of both the Canadian Investor Protection Fund, which protects portfolios for up to $ 1 - million in case of broker insolvency, and the Investment Industry Regulatory Organization of Canada.
Other online brokers offer $ 9.95 stock trades but you usually have to have a minimum balance of $ 50,000, so for beginners I definitely recommend Questrade since they have the lowest fees on the market.
Minimum investment requirement: The $ 10,000 minimum investment requirement is steeper than at
many other online brokers, which brings Interactive Brokers» rating down a notch.
Learn the pros and cons and see comparisons with
other online brokers in this in - depth review... Read full review
They also pioneered the flat rate pricing structure that many of
the other online brokers use today.
And compared to
other online brokers, E * TRADE is about a third the size of TD AMERITRADE (NASDAQ: AMTD), and just a fifth the size of Charles Schwab (NYSE: SCHW).
Prices go up when you trade other options, but they're still quite reasonable compared to the cost of using
other online brokers.
Today, with nearly half a million clients, we facilitate more trades than
any other online broker.
Account Fees: $ 75 to transfer a brokerage account to another robo - advisor or online broker; $ 95 to transfer IRA to another robo - advisor or other online broker
While I do appreciate that QT offers the Canadian investor the opportunity to save a lot of money on trading costs, especially the investor who doesn't have $ 100k to qualify for TDW's and
other online brokers» discounted rates, the fact remains that customer service remains an issue.
If you check out our post on the latest discount broker survey by SmartMoney, you'll see how well OptionsXpress ranks among
all other online brokers.
Reviewed against 16
other online brokers, TD Ameritrade was recognized as a leader in Platforms & Tools, Customer Service, Education, and New Investors — helping us earn the top spot with an overall rating of 4 1/2 stars.
Other online brokers offer free retirement accounts.
The Downsides The fee structure for trades is a bit higher than
some other online brokers, especially if you are purchasing no load mutual funds, where you'll pay $ 49.99 per transaction.
Fidelity offers very limited currency trading compared to
the other online brokers in our list, with only 13 currencies available for exchange.
For full web functionality, you must meet a 36 trade minimum in a rolling 12 month period.Fidelity's focus is narrower than that of
some other online brokers - it doesn't support futures or forex trading.