Online Broker Reviews
By Jayme Hanson

Online broker reviews can be split into full-service brokers, premium brokers and discount brokers. Each type of broker will cater differently to different types of investors. Online broker reviews should also take into account trade execution, cost, customer service and online information.

Fidelity is rated very high as an overall broker. They provide excellent research tools, investment tools and calculators and their website is easy to use. Fidelity’s commissions are higher than some other online brokers, but they don’t charge handling or maintenance fees. Fidelity will drop their commission rates for very active traders. Fidelity requires a minimum opening account balance of $2,500.00. Fidelity provides trained professionals throughout the United States to assist their clients.

Some online broker reviews has listed TD Ameritrade as the best discount broker. This company was established in 2005 when TD Waterhouse and Ameritrade merged. TD Ameritrade ranks higher than most web-based companies in customer satisfaction. They have a flat-rate

commission of $9.99 for any amount of shares and there is no minimum requirement for opening an account.

Online broker reviews say that Scottrade offers excellent value for those who don’t need a lot of advice or in other words for the more experienced trader. The trades are fast, customer service is good and costs are low. Scottrade has a minimum opening investment requirement of $500.00 and market orders are only $7.00, with no inactivity or maintenance fees. Scottrade does not offer as much research or additional services as some of the other online brokers, so this broker is for individuals who don’t need much extra help to make their trades.

ShareBuilder, online broker reviews say provides a number of investment strategy primers, ranging from dollar cost averaging to diversification and the company has no minimum balance requirements. You can also set up automatic investments for stock trades with this company for $4.00 each. However, regular market orders will cost you $15.95 per trade which is more expensive than most online brokers.