Discount options brokers

DoughRoller receives compensation from some companies issuing financial products, like credit cards and bank accounts, that appear on this site.

Unless a post is clearly marked "Sponsored", however, products mentioned in editorial articles and reviews are based on the author's subjective assessment of their value to readers, not compensation.

Compensation may impact how and where products appear on non-editorial pages e. That said, our standard is that we will never accept advertising from a product which we wouldn't use ourselves. Note that I have accounts at each of these firms and have personally tested their trading platforms, research, and other tools. First, there are a lot of them. For example, not all of them offer the same account types. And the stock trading tools available to you vary from one discount broker to the next.

Scottrade is high on my list of potential discount brokers for my IRA account. It offers a number of account types, including IRAs and other retirement accounts. And with a Scottrade IRA account, there are no opening, closing, annual or custodian fees. I also like the look-and-feel of the site. Scottrade has one other feature that I like; physical locations. Among discount online brokers, Scottrade has the largest network of branch offices.

You can get more information in our Scottrade review or open an account by visiting Scottrade. With OptionsHouse, you can trade stocks, options or spreads. There are no maintenance fees or monthly minimums, either. According to OptionsHouse, it offers a professional-grade trading platform backed by TradeMonster. It is from this platform that OptionsHouse offers an array of professional trading tools.

To give you an idea of the look-and-feel of the OptionsHouse trading platform, here is a screen shot of its online design:. Now you might be a bit confused by the screenshot above because the URL shown is www. For more information check out our OptionsHouse review or visit OptionsHouse. And there is no additional cost for broker-assisted trades. In this category, TradeKing reigns. We were speaking with a friendly representative within 20 seconds when we called on a busy Monday morning for the stock market.

Our e-mail asking a question about our account balance was returned in 7 minutes. Through the Trader Network, you can connect with other traders, share strategies and trading tips, and see the hottest trades of the day. To get more information check out our TradeKing review , or to open an account, visit TradeKing. Again, TD Ameritrade decided to cater to both casual and advanced investors by creating two separate mobile apps. For more information check out our TD Ameritrade review or visit TD Ameritrade.

All of the firms make a point to advertise how much you pay to buy or sell stocks, mutual funds, options, or other equities. The key to remember, however, is that many of these firms charge additional fees, depending on how you use your account. Because these fees vary among discount brokers, the starting point is to understand how you will use your stock trading account.

Will you trade frequently or just once or twice a month or quarter? Do you want to set up an automatic investment plan?

Best Options Trading Brokers and Platforms - NerdWallet

Will you be buying stocks and mutual funds, or do you also plan to trade options? The answers to these questions will help you narrow the selection and ultimately pick the best broker for you investing needs. But just like most anything we buy, the cost is just one of many factors to consider. And the same is true when selecting a discount broker. So what are the factors besides cost that we should consider when selecting a discount stock broker? There are several, and they include ease of use, customer service, types of accounts offered, investing tools, type of investments you intend to buy, and account minimums.

For example, account minimums may be a non-issue for you if you plan to invest a significant amount of money. Likewise, if you are looking for a specific account time like an IRA , you can quickly eliminate those discount stock brokers that do not offer that account type.

Our Day Money Challenge will help you get out of debt, save more, and take back control of your life. You'll also get instant access to my interview of a husband and father who retired at the ripe old age of.

What others are saying: I'm at Day 26 in your 31 day money challenge podcast. Thank you, thank you, thank you! I've been looking for a comprehensive guide to all-things-money and this has been so informative. Would you please provide a recommendation of a discount broker that facilitates stock trades on foreign exchanges, specifically Toronto, Australia, and Hong Kong?

Bill, there are several alternatives for discount brokers that enable you to buy stocks on foreign exchanges.

Still, the cost of the discount brokers is relatively low, depending on your trading volume. Scottrade has foreign exchange trades and offer separate commission schedules for Canadian Orders versus other foreign stocks. Etrade offers a global trading platform that covers exchanges in Canada, France, Germany, Hong Kong, Japan and the UK. Check out Interactive brokers, excellent tools, extremely low priced. Wonder why they arent on this list of brokers. THEY GIVE GREAT FILLS AND ONLY CHARGE 1 PER TRADE.

You can trade in most international markets. They have great options and futures capability but seem to exist out of the spot light. There are two things I look for that are hard to find in a discount or any broker. Scottrade is good in this respect. They break up your cash among several banks, if necessary, to keep full FDIC coverage. Brokerage houses that trade bonds on a principal basis are generally ripping you off. Others have been very disappointing.

Thanks for the great reviews. When I did my research, I also chose Scottrade as my top choice for both an IRA and trading account. You need to know the exchanges, symbols, etc. Of all the brokerages i have checked.. Thanks for the tips. I use a comsec account to trade about once a month. I think SOGOTRADE is pretty good. They have good online and phone support, quick execution and a good inventory of shares that you can short!

You also get free trades when you open your account. For Toeser, I use Scottrade, and am looking for cheaper but with good support. They are real brokers, and give advice if nec. It was cheaper to buy from them. Scottrade had to buy through a bond-broker, and charged extra fees. Sue, thanks for the comment. You hit on the main problem, however. The Think or Swim platform is really designed for very sophisticated traders.

For those of us that trade less frequently and take a more passive approach to investing, there are better options for online discount brokers.

Interesting insight on bonds. I assume you are buying individual bonds. What criteria are you using to define them as pioneers? What this analysis completely ignores is margin interest rates. Sogo is reasonable but the rest of them charge exorbitant rates. For low rates and reasonable commissions, look at investrade.

You may pay literally a few dollars more per trade but you will save many thousands on interest. Thank you, so-o MUCH!!! They have a great desktop platform and the data feeds are free with your trading account. If you are trading options, seriously consider thinkorswim. Hi, I am kind a professional, but I stick to the equities. I am from Europe and interesting for Toronto and Germany.

I like to day-trade, sell short, I want to skip additional cost like custodian fees. If you trade with futures, could you trade them intraday and could you do that each day? I have been with them for over 10 years with out any troubles at all. If you would like to try them out you can get 3 free trades just to see if you like them They have a good streamer..

They are all anybody would ever need. Bill, TDAmeritrade is one of the best on-line discount brokers. One feature that makes them high on the list is their no fee list of ETFs where you can purchase as little as one share for no cost. They also have the longest list of ETFs with this feature. My husband and I are in T.

I am retired 60 , and my husband will retire in august. Marilyn, increasing domestic value stock seems like an odd suggestion. Do you have more details you can provide. I have managed to save pretty well, and the thought of investing have stayed on the back burner for some time.

Now, the flash crash. Yet again, our SEC stands and hears, and sees nothing. Yes, there are bad people and bad investments on Wall Street. But there are also great businesses with great management that make excellent investments.

Thanks for sharing such a vast wealth of information. Would you rate those company the same way today. Are there any new companies you would like to add to the list? K, Robinhood does offer free trades.

That might be ideal for an active trader.

Best Discount Brokers - NerdWallet

For those who trade at most occasionally, however, the trading costs are not the most important factor. Click here to cancel reply. Email will not be published required. This site may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. The credit card offers that appear on this site are from credit card companies from which doughroller.

This compensation may impact how and where products appear on this site including, for example, the order in which they appear. This content is not provided or commissioned by the bank, credit card issuer, or other advertiser. Opinions expressed here are author's alone, not those of the bank, credit card issuer, or other advertiser, and have not been reviewed, approved or otherwise endorsed by the advertiser. This site may be compensated through the bank, credit card issuer, or other advertiser Affiliate Program.

The content on this site is for informational and educational purposes only and should not be construed as professional financial advice. Should you need such advice, consult a licensed financial or tax advisor. References to products, offers, and rates from third party sites often change. While we do our best to keep these updated, numbers stated on our site may differ from actual numbers.

User Generated Content Disclaimer: The comments below each article are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. You can explore the site through our archives dating back to Best Online Discount Brokers for Summary Of The Best Online Discount Brokers Scottrade — Best Broker with Physical Offices Scottrade is high on my list of potential discount brokers for my IRA account.

To give you an idea of the look-and-feel of the OptionsHouse trading platform, here is a screen shot of its online design: None Sign up Bonus: How Much Will You Pay To Buy And Sell Equities Online All of the firms make a point to advertise how much you pay to buy or sell stocks, mutual funds, options, or other equities.

Factors To Consider Other Than Cost But just like most anything we buy, the cost is just one of many factors to consider. Take the Day Money Challenge Our Day Money Challenge will help you get out of debt, save more, and take back control of your life. Start the day money challenge! We hate spam as much as you do. Bill August 28, August 28, at 4: DR September 27, September 27, at 2: T August 28, August 28, at 5: WILLIAM PEERY August 28, August 28, at 6: Wendi Thiessen August 28, August 28, at Toeser August 29, August 29, at In the Money August 31, August 31, at 8: MSG September 16, September 16, at 6: October 21, at 7: Rich October 21, October 21, at 5: Jen October 30, October 30, at 8: Jeremy December 14, December 14, at Sue December 28, December 28, at 3: DR December 28, December 28, at 6: Stephen February 12, February 12, at 3: December 7, at 4: Don Griswold May 20, May 20, at Size Trader June 2, June 2, at 5: Gail Balcaen July 28, July 28, at 4: Chris M November 7, November 7, at 2: Ivan Basic May 12, May 12, at 8: Lyn June 10, June 10, at 2: Rob Berger January 13, January 13, at 6: Randall August 8, August 8, at 7: Marilyn May 6, May 6, at 9: Rob Berger May 7, May 7, at 1: Dale Harp April 24, April 24, at Rob Berger April 25, April 25, at 8: Jenny Johnson August 22, August 22, at Rob Berger August 22, August 22, at 7: K October 20, October 20, at 8: Rob Berger October 20, October 20, at 5: Take Control of Your Money Join over 23, who get our free weekly newsletter.

Get our free weekly newsletter packed with Links to our latest articles Money saving tips Tools, resources, and guides to improve your finances. We respect your privacy. And Why You Need To Gold Delta SkyMiles Credit Card from American Express 60, Bonus Miles Review. Bank Rates Best Interest Rates --June Best Online Banks Best CD Rates Bank Account Promotions, Deals and Bonuses Today's Mortgage Rates.

Credit Card Rewards Best Credit Cards of Best Balance Transfer Cards Best Cash Back Credit Cards Best Travel Rewards Cards Best Business Credit Cards Today's Credit Card Bonuses Best Credit Cards for Poor Credit Free Prepaid Debit Cards.

Money Toolbox Free Financial Dashboard Best Online Brokers Best Robo Advisors Free Credit Score Reports Best Tax Software. Podcast Insurance Taxes Retirement Personal Finance.