Online Broker Ratings
By Jayme Hanson

As a general rule of thumb, online broker ratings indicate the level of satisfaction and customer service with that particular online brokerage firm. There are several sources that provide online broker ratings and each source may have its own set of criteria, therefore you could find different ratings for the same online broker. You need to also remember that online broker ratings are not regulated. If you are planning on investing with an online broker, remember that just because they have a high rating for customer service does not mean they have a better chance of making you money.

One of the basic categories for online broker ratings is special deals. Does the broker offer free trades for a short period of time after you sign up or do they provide a break in the cost per trade if you are an active trader?

Commission schedules are another important are for

online broker ratings. There could be a difference in the cost for placing a trade as a market order versus a limit order. If the broker provides different types of trading methods such as online, phone or broker assisted trades, find out if there are additional costs to use each of these services.

If you are a beginning trader, you will want to know the online broker ratings for account minimums. This is the minimum dollar amount that you will need in order to open your account with the broker. Account minimums can range from a few hundred dollars to over tens of thousands of dollars.

Online broker ratings should include the types of research, testing and executing tools that are provided. These tools can range from being very user friendly to trading strategies that should only be used by someone who has an in depth knowledge and experience with trading.