Whats the best online stock broker?

Question

I have Scottrade right now but it takes three business days to made a trade or transaction. I want somthing faster and better. What do you use?

Answer 1

As others have stated, the three day rule applies regardless of broker. Margin accounts will help you resolve some of your issue. Having the larger acct (> $25K will help as well and will give you larger intraday trading capital).

Now as for brokerages, there are a lot of good brokerages depending on what you like and how you trade.

Barron's has a great article on brokerages that they publish each year. (Latest one was in March 6, 2006). Kiplinger does one too.

Here’s the link to the Barron’s article.
http://webreprints.djreprints.com/1550280182488.html

Here’s the link to the Kiplinger’s July 2006 article which isn’t bad either.
http://www.kiplinger.com/magazine/archives/2006/07/brokers.html


For basic stuff, E*Trade, Ameritrade, and Scottrade are sufficient. For more complex trades, I'd recommend Optionsxpress, ThinkorSwim, or interactivebrokers.

Based on what you put in your question, I'd recommend one of the first three, but all are very good. Cheapest probably is scottrade (of the larger online firms). Yes there are cheaper like interactivebrokers, but you'll have to get used to their software based platform (which is doable). They're only about $1/contract on options!

Brokerages like Fidelity are horrible for anyone with any decent experience.

So, decide what's important to you as a trader and compare the brokers! You can use the article, or go to each website as they all seem to have comparison charts! But as I said, for settlement, that shouldn't change by changing brokers.

And if there are particular things that are most important to you (such as executions, cust svc, cheapest trade, flexibility on allowing you to do certain types of trades, stop and stop limit orders, contingent orders, great graphing, what if scenarios, training, etc), I'll be glad to help discuss this with you too!

If you have any questions, let me know.

Hope that helps!

Answer 2

It relies upon on your desires. Interactive brokers is quite sturdy. lower priced expenditures, and the better quantity you commerce (extra stocks) over a era of time, it receives more lower priced. you actually have the alternative to position in orders on to the exchanges, and also you will get rebates each now and then (including liquidity on the nasdaq) which will pay you money for setting up a bid or an grant, which will both make your commerce more lower priced, loose, or perhaps make you some money on it! some brokers might want to correctly be extra useful, it relies upon on once you've different varieties of desires. inspite of you do although, do no bypass with a economic corporation, eg. TD Waterhouse, their expenditures are criminal. i wish this allows, sturdy luck.

Answer 3

I don't know why it would take 3 days to do a transaction if you are doing it online. I use http://sogoinvest.excellentabc.com since they have the cheapest rates around. The most I pay per trade is $3. I just checked the site and wish I waited to sign up since they are doing a promo where you pay $1 per trade for 90 days.

Hope that helps you and good luck trading.

Answer 4

The 3 day hold rule applies to any broker when you trade in cash. If you want to execute unlimited trades per day, then you need to trade on margin.

Of course, this requires at least $25,000 in equity at all times and you would be borrowing money - so you had better choose wisely.

Answer 5

e trade is one of the high ranking stock brokers on line.not the cheapest,but the most recommended.

Answer 6

You need to open a margin account (You need at least $2,000.00 USD)