Buy Stocks Online

Price Wars With Online Stock Brokers

If you watch enough TV, you’ll see everyone of the discount online brokers advertisements. Each of them stating that they have the best price for trading stocks online as well as claiming they have the best customer service, quickest trade time. If you haven’t started to trade stocks and you’re looking to open an account with one of these major online brokers, don’t get caught in the hype of their sales pitch. You need to research which one is right for you.

I’ve been with TD Ameritrade for years now and I plan on staying with them for the rest of my trading years. You can read about my thoughts and review of TD Ameritrade to see what I mean. That doesn’t mean that you have to do the same thing and only deal with TD Ameritrade. I suggest you look into each of the other competitors to see which one works for you. I have a friend who doesn’t like my broker and he uses E-Trade.

E-Trade is a good reliable broker and also takes good care of their customers. Their prices for regular trades vary a little. If you do less than 150 trades per quarter (three months), your trade fee will be $9.99 per trade, however if you do more than that in the same time period, the fee is only $7.99 per trade. So if you don’t expect to make that many trades in one quarter, it’s something to think about. E-Trade’s option fees are work the same way, at the same pricing plus $0.75 per contract. I feel E-trade is not for a beginner or for someone who isn’t so active in trading on a daily basis.

Scottrade is probably the most known out of all the online brokers. Scottrade is more reasonable when it comes to their stock trades and their option pricing. They charge $7 per trade for wither stocks or options. The price is only for online trades. If you call into their automated trade desk, the fee is $17 per trade and if you call a representative to make a trade, it wil be considered a broker-assisted trade and you’ll be charged $27 per trade. Scottrade does have many different fees involved with each service you may need, but remember that you get what you pay for, They have been know to be the best at customer service within the online discount brokers.

What about the new kid on the block, Zecco? To be quite honest I’ve never used them since they are relatively new to the game. I will say that they do offer the lowest prices when it comes to making a trade. Zecco will give you ten free trades every month and charge you $4.50 per trade afterwards. Remember that you must maintain a balance of $25,000 or make at least twenty-five trades per month or you will be charged the $4.50 for each and every trade. As for their option trades, it’s the same price as stock trades plus $0.50 per contract. I have not used Zecco, but I will say that I’ve talked to a few people who do use them and they all pretty much say the same thing when it comes to customer service. They don’t care about it. These traders I’ve talked to don’t use Zecco for their customer service, they are just in it because they do their own research and due diligence that the only thing they care about is the low fee per trade.

So whichever one you want to use, you need to think about which one will be best for your needs. After all, it’s your portfolio and not anyone else’s you worry about.

© 2010 Buy Stocks Online
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Buy Stocks Online: E*TRADE

E*TRADE is a financial corporation that offers online discount brokerage services to investors that allow them to buy or trade stocks, bonds, mutual funds, and other securities online. The company paved the way for a lot of other online stock brokers that exist today. It also expanded its financial services that offer banking, certificate of deposits, retirement, and money market accounts to the public. Today E*TRADE is one of the biggest and more popular places to buy stocks online and you can expect their company continues to flourish.

When choosing an online broker for trading stocks, you must sit down and evaluate all the pros and cons of each company out there. After all, E*TRADE created a trend of other online companies attempting to provide similar services. Therefore E*TRADE must have something that differentiates them from the rest of the pack, besides the fact that they were one of the first companies to provide discount brokerage services. Year after year, E*TRADE continues to get great reviews from SmartMoney and Barron. They continue to expand their online packages, which makes it intriguing for one to go online and create an  etrade account. It only takes a couple of minutes to create a life changing impact that can impact your life in a positive way. 

With a highly competitive market, there are other online brokers that offer cheaper brokerage services around. There are others that offer a cheaper price per trade, an annual fee that is lower, and other monetary dynamics that may effect a person’s decision when evaluating this broker firm. Some say their customer service isn’t the best, it’s difficult to take money or close the account if needed, and the prices are higher in some categories compared to others out there. The process of a trade going through may not be as quick as some people prefer. Their minimum balance on an etrade  account is also higher then other brokers, such as Scott Trade.

However one must look at the value you’re getting rather then the cost your paying when making a decision on whether to go with E*TRADE or another firm for investing online. The good thing about E*TRADE is the diversity of services they offer as they continue their expansion. They are well known for their market analysis, which is probably their greatest strength. With this analysis of the market, it creates credible stock market tips to utilize, especially with the current state of our economy being in a recession. The website and tools that E*TRADE provides is user friendly which allows the account holder to make better and smarter decisions when trading. Mobile etrade applications have also received recognition as our technology in pocket pc smart phones continues to evolve in a market where today’s hottest product will soon be yesterday’s old news.

In conclusion, E*TRADE still stands at the top of the list in online brokers. As they continue to successfully market their products and services, they will maintain their competitive edge against rival companies as long as they continue to strengthen their research and development areas. With all the attractive monetary accounts available, it is easy for a potential client to be in awe of the diversified products that they offer.

© 2010 Buy Stocks Online
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Best Stocks To Buy Online

In order to purchase stocks from an online stock broker (also called discount brokers, reason being that they charge considerably lower than a normal stock broker) you need to sign up or register with an account. As part of the registration process, you would have to give personal information such as Social Security Number, Driver’s License and Photo I.D. The registration process will take a couple of hours. There is a minimum deposit limit that has to be paid and this can be done from your bank account.

Once you have got an account, it is necessary to pay per transaction for the purpose of buying or selling shares. How do you find reliable place to buy stocks online? When selecting an online broker, the first important thing that you should consider is the broker rate. This is the rate that you will be charged when you buy or sell stocks. The more units you buy, the lesser the broker rate. Compare rates of different brokers to buy one that meets your buying style.

One of the most important things to check out is the hidden fees. Read the fine print in contracts so that you avoid unnecessary hidden fees so that you can learn about, privacy policy, stock broker agreements, terms and conditions and waivers. Select a broker who offers incentives for opening an account, something like a limited free brokerage period or give a bonus that will help in establishing an account.

Do not opt for any services. Many people get into the problem of taking services from an unlicensed broker and the result is that they end up getting scammed. If you want to check up on a broker’s reputation, use the BrokerCheck tool. This tool looks through the Central Registration Depository Database to find information on brokers. In order to obtain a license, it is necessary for the broker to pass the General Securities Registered Representatives Examination. In addition to this, it is mandatory by law to pass certain exams also.

You can opt for brokerage service from large banks such as BMO Nesbitt Burns and TD Waterhouse. Other options are optionsXpress, Questrade, TradeKing and Firstrade. Most people prefer to take up services from ETrade Financial, Schwab and Ameritrade because their approach is very systematic and they offer sound advice on investment choices based on financial soundness of the investor and the best stocks to buy. They also offer many different stock market courses for their clients.

© 2010 Buy Stocks Online
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