The Top online Broker and Trading Platforms
If you’re an active trader looking to try your hand at beating the market, you probably have a good idea of what you want in a brokerage: low costs, premium research, innovative strategy tools and a comprehensive trading platform. Below, we’ve selected the best online brokers.
Investors should know the best online stock brokers to trade with. The following top stock brokers offer investors the most value for their portfolios. Some online stock brokers are known for their award winning customer service while others are known for inexpensive stock trades or powerful trading tools. This guide will highlight some of the best stock brokers available today with tips and advice for selecting a new broker.
TD Ameritrade was ranked #1 Online Broker 2012 – 2015 by StockBrokers.com* even with its $9.99 stock trades. Its platforms thinkorswim (ranked “#1 Desktop Platform” 2016) and Trade Architect are loaded with tools and features. Add to that TD Ameritrade’s education, robust research, mobile apps, etc and what you pay for is what you get.
TD Ameritrade Offer: Trade free for 60 days + Get up to $600
BDswiss trading platform is web based and is powered by SpotOption. The platform is easy to use and comes with a Pro Trader mode which gives traders access to a wide range of tools and indicators that they can use for trading. The BDSwiss platform is one of the best in the industry because it is innovative, intuitive and with user friendly interface. There is a wide range of trading options also available including One Touch, Long Term, Pairs, Ladders and 30/60 Seconds Options. BDSwiss also offer a great selection of tradable assets such as commodities, forex, indices and stocks.
Sign Up – process takes up to about 3 minutes. To complete the free sign up process, all you have to do is fill out your name, phone number and email address in the fields provided on the form.
Execute Trades – To start trading, you can add a minimum of $100 into your trading account.
Make a Withdrawal – When you have earned profits on your investments, you can make use of the easy and convenient withdrawal methods offered by the broker to get your money.
easyMarkets is an online market maker established in 2003 under the trade name of “easy-forex”. In December 2015, it rebranded and it now offers traders access to global markets with a wide choice of markets from one simple trading account. easyMarkets is domiciled in Limassol, Cyprus, is regulated by CySec and is licensed in Europe by MiFid and in Australia by ASIC. easyMarkets maintains offices in London, Sydney and Warsaw.
It boasts $1.5 trillion in turnover and over 100,000 active traders.
There is one standard trading account at easyMarkets and the minimum trade is only $25.00.
An Islamic account is available whereby traders extend their day-trading deals to the next day, and there is no rolling fee charged. The maximum duration offered for day-trading deals is limited (usually 1 month but it can also be shorter or longer depending on the currency pair traded).
There is a rolling charge for trading currencies depending how long the trade is held. Since commodities and indices are traded as CFDs they have a fixed expiry date and no rolling fee. However gold, silver, palladium and platinum are traded as spot trades and rolling fees are charged. There are no rolling fees on options.
The account holder has the ability to receive 1:400 in leverage and when using the proprietary platform, a free life-long demo account is available. This is the first broker I have ever reviewed that offers this type of demo account.
In addition, a personal analyst is available to all those who update their accounts to a VIP account. This analyst is there to help traders by providing them with expert trading tips, 24/7 availability and over the phone trading capabilities.
easyMarkets is ahead of its time when it comes to promotions and allows clients to choose which bonus they wish to receive. At the time of this review, the choice was a$25 welcome bonus, a tradable bonus up to 50%/$2000 based on the first deposit amount, or a type of Refer-a-Friend program whereby traders can earn up to $2,500 by bringing in new clients. Traders are able to use all means of social media–Facebook, Twitter, YouTube, Forums, Email and Blogs to share the easyMarkets link.
E*TRADE shines for its mobile apps and all-around offering. E*TRADE was rated #1 for Mobile Trading in the StockBrokers.com 2016 Review* and provides customers research tools similar to TD Ameritrade and Scottrade. Like TD Ameritrade, E*TRADE charges $9.99 per trade but offsets high cost with a positive customer experience.
E*TRADE Offer: Trade Free for 60 Days & Get Up to $600
Plus500 is one of the most popular online brokers worldwide. It is licensed by the UK Financial Conduct Authority and is authorized to offer Contracts for Difference (CFDs) in the country. The service is offered for more than 2000 instruments, including a huge variety of currency pairs, which means you can basically use the company’s CFD service on almost every currency pair or other asset imaginable. Its CFD service is more suitable for experienced traders. Beginners are advised to train their trading skills in the company’s unlimited Demo account until they feel confident enough to trade for real money.
There’s another thing that makes this broker unique: Plus500 offers a $25 welcome bonus for every new account that is created. A lot of people don’t believe it but this bonus is for real. Once you opened an account and verified it, $25 will be credited to your account and are ready to use. This way you can make your first trades and start gathering experience. You obviously can’t simply withdraw the funds. In case you lose the funds they are simply gone and nothing else. Plus500 won’t send you a bill or anything. It’s just a marketing gag you should make use of. Validate phone to qualify for bonus, and specified minimum volume of trading prior to being able to withdraw it. T&Cs apply and general bonus requirements apply.
OptionsHouse is the perfect marriage of discounted trade commissions fantastic options trading tools. OptionsHouse has been rated #1 for Options Trading the past five years and #1 for Commissions & Fees. OptionsHouse offers $4.95 flat fee stock trades alongside options trades for $4.95 + $.50 per contract. Read More…
24 Option uses the Tech Financials turnkey platform. The Tech Financial platform is a breakthrough in financial trading technology as it allows easy, stress free trading through a web platform and associated mobile apps for Apple and Android phones. It is a general and secured trading platform that all traders would enjoy using.
The company offers the following trade types:
⦁ High/Low: In this trade type, a trader purchases a call option if he feels the future price of the asset would exceed the strike price or purchases a put if he believes the price would fall below the strike price.
⦁ Up/Down: 24 Options offer Up/Down trades. In an up trade, a trader makes a proposition that the market would close on a higher note while on a down trade, the trader makes a proposition that the market would move down on its current rate at the end of the day’s trading.
⦁ One Touch Binary Trade: 24 Options offer Touch/No touch option where a trader makes a prediction on whether the price path of an asset would reach a certain price point at any time of the trade period.
⦁ Short Term Binary Trade: 24 Options offer short term binary trade of 30 seconds, 60 seconds up to 5 minutes allowing traders get quick results and returns on their trading ideas.
TradeKing offers investors competitive $4.95 stock trades, quality customer service, and research tools that are better than its discount broker peers. TradeKing merged with Zecco in 2012, acquired MB Trading in 2015, and continues to expand its reach with new tools like TradeKing LIVE, the broker’s mobile friendly trading platform. Read More…
TradeKing Offer: Trade commission free up to $1,000.
Scottrade has over 500 local branch offices which is the largest network out of any of the online brokers. Known for its customer service, Scottrade has been awarded #1 Overall Client Experience the past five years. Regular stock trades are $7 each which is less than competitors TD Ameritrade and E*TRADE but more than OptionsHouse and TradeKing.
Comparing Stock Brokers
When choosing your online broker, here are some great tips to remember to help you decide:
1. Narrow down a list of what is most important to you – Just like when shopping for a new home, making a focus list of wants will help you separate choices to ultimately make a decision. For an investor that travels often for example, mobile trading will be more important than the cost of placing trades.
2. Choose a broker with high acclaim and that is well known – Larger, established online brokers almost always offer more features, trade tools, better customer service, etc. Multiple brokers have millions of clients and these are the ones that almost always deliver a high quality experience for clients.
3. Be aware of miscellaneous fees – Be conscious of what fees the broker is charging. I do not recommend any smaller niche brokers on this site specifically for this reason. There are usually many hidden fees that are only found by digging through the broker website.