Best Stock Brokers?

Question

Hi, what's the best stock broker out there? In terms of fees and reliability. Also is there a difference between online brokers and bank brokers? Do the brokers in banks execute orders faster?

Oh sorry, I meant like Brokerage firms like Etrade, etc..

Answer 1

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 though the 2007 article “just” came out). Kiplinger does one too.

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

New Barrons – Best online Brokers 3/5/07
http://online.barrons.com/public/article/SB117288684364425609-wsYkdd74F9ukYSQgQJifDpHYwsY_20070402.html?mod=mktw


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!

And if there are particular things that you want to mention as being 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!

P.S. I just found a link to a review of reviews as well! Here it is:
http://www.consumersearch.com/www/internet/online-brokers/reviews.html

Answer 2

1. Stay away from banks when looking for a broker.
2. Do you want;
Full Service
Discount
Deep Discount

If you're new stay away from deep discount. I use Scottrade, but I wouldn't suggest them for a "newbe".

I also use Schwab. Any of the following "discount" brokers are worth considering;
Fidelity
TDAmeritrade
Schwab

For full service........ You need to be concerned about the broker more than the brokerage. Don't take recommendations unless you fully understand what & why they're being suggested. I'd say about 80% of the brokers have your best interest in mind..... just watch out for the other 20%.

Answer 3

Are you asking for the Best Stock Brokerage companies, or the Best stockbrokers (such as the name of a particular Stockbroker, at a particular Brokerage firm?)

Answer 4

The broking service works in an place of work and takes money from shoppers to purchase stocks. The broking service then contacts a dealer in his organisation, to come across a broking. when it comes to the NYSE, the dealer is going on the procuring and promoting floor and looks for a dealer who has that inventory to promote. At NASDAQ, it really is all executed electronically.

Answer 5

a good stock broker is useless unless you have a lot of money...the less money you have the less attention (little to none) they give to your account..ask a friend for their stockbroker..

as to the second part of your question.. again..the bigger the commission the faster they'll execute your order...

Answer 6

It's not the name brand, it's the person doin the business for you... get recommendations from people you know. You need to find someone who knows what he's doin, regardless of the firm!

Answer 7

The best stocker is you. Just do your own homework and you will do well. See http://ibooyah.com for investment ideas.