Click Links Below to Read the Corresponding Review of the Best Brokerage Firms
Who are the best brokerage firms? This is a question everyone asks themselves when they start out. The internet and the invention of computers have revolutionized the way we trade.
We're able to learn stock trading on our own. We can trade all without having to call a broker to place the trade for us. We used to look the newspaper for tickers but we couldn't read charts.
Brokers are one of the most important aspects of becoming a good trader. Yes, support and resistance and patterns are essential but the best brokerage firms allow you to put your training into action. Just think about it.
If you hated your broker or it was cumbersome and not easy to use, you're probably going the be less successful than you would be with having access to the best brokerage firms.
Therefore, we decided to take a look at the brokers out there and find the best brokerage firms. As a result, you can take a look at the different options to you and decide what broker meets the needs of your trading style.
TD Ameritrade is one of the most well known brokers out there. They have so many great features and amenities. In fact, if you googled best brokerage firms, you'd probably see TD Ameritrade within the top three if not number one.
Their charting and real time data is the best. They offer custom stock scanners, news and alerts, technical indicators and chat rooms. Their ThinkorSwim platform has one of the best simulated trading platforms available.
As a result, you have the ability trade like you would using real money without taking a loss. As a new trader, that's so necessary.
In order to get real time data in your paper trading account you do need to open and fund an account. However, you don't need put in a lot of money. $50 is just fine.
You'll thank us for doing that. When the data is live, it's like trading with real money. You're not fifteen minutes behind other traders; which is quite helpful if you're participating in live trading rooms.
TD Ameritrade's customer service is unmatched. That's a really important aspect of the best brokerage firms and one that's slightly underrated. When you're having an order issue, you'll be thankful for great customer service (learn how to invest in stocks).
Interactive Brokers is one of the best brokerage firms for short selling. The market isn't always bullish. Therefore, you want to be able to take bearish plays and make some money.
Unfortunately, not all the best brokerage firms have shorting capabilities. That's where Interactive Brokers comes in. You can find just about any stock to short with them.
They're an international broker so anyone can use them no matter what country you live in. They're platform isn't as streamlined as TOS so you may need to play around on it. However, we always recommend practice trading before going live and they have paper trading.
The best brokerage firms are ones that offer paper trading. Therefore, IB has you covered there. You're able to work out any kinks a platform might have before going live.
If you're day trading, check out IB's hotkeys. They have some of the best in the business. As a result, you can get in and out of trades at lightening fast speeds. Which means you can lock in your profits that much quicker.
Excellent resource for trading insight. Thanks to the owners and operators of Bullish Bears.Jeff H.
The best brokerage firms also have mobile apps. Smart phones have revolutionized how we live our day to day lives. We don't need a computer much anymore. As a result, out lives our on our phones.
Brokers have been keeping up with that. Many of the brokers we look at also include mobile trading. As a result, you're able to trade from anywhere.
As time passes, the apps get better. You're not sacrificing indicators any longer. In fact, many times you're mobile charts aren't missing any of the tools you'd use on your computer.
There are a lot of brokers out there nowadays. As a result, we're going to take a look at some of the best brokerage firms out there and help to narrow down the selection.
There are many different trading styles. Therefore, you'll want your broker to offer futures, Forex, options and anything else you're into trading. Let's take a look at some of the most popular stock trading companies below.
SpeedTrader is a great broker for active day traders. You do need to have a larger account to use SpeedTrader. As a result, it may be a broker to work up to if you're building a small account.
This is one of the best brokerage firms for ECN trading. ECN or electronic communications networks are known for lowering commissions because it gives you control of your order routing.
SpeedTrader uses the Das trading platform. Which is the same platform Interactive Brokers use. Therefore, thats two of the best brokerage firms who use the same software.
Read our SpeedTrader review to learn more about the different features this company offers.
CenterPoint securities is another great broker for short selling. They even provide a free demo trial for anyone who wants to try them out ahead of time.
Not even the best brokerage firms can claim they do that. Because brokers are such a vital part of trading, it's great that you're able to try them out ahead of time.
They're also known for their customer service. There's not automated system. You get a live person every time you call. This broker doesn't have to follow the PDT rule because they require $30,000 to open an account.
That's a bit steep for many new traders. However, it's a great choice if you work your way up to the $30,000 and want to get into shorting as well as going long.
Read our CenterPoint Securities review to learn more about them.
CMEG is one of the best brokerage firms at getting around the PDT rule without having to have a large account. They're an offshore broker. Therefore, they're not subject to the US PDT rule.
They are registered with the IRS and Lloyds of London if you're worried about putting your money into an offshore broker. They also have inexpensive commission fees.
Since you can trade as much as you'd like with them, the cheaper the commissions the better. They're also known as one of the best brokerage firms for hotkeys. As a result, if you're a day trader who gets in and out at lightening speeds, you'll love this broker.
Read our CMEG review to learn more about this company.
E-Trade is one of the oldest brokerage firms out there. You might remember their talking baby ads that played during the Super Bowl years ago.
They have a great platform for basic trading. However, they don't simulated trading. As a result, you can't practice trading before you use them. They do allow you to make watch lists, place trades and stream market data.
If you're into active stock market trading this can be a great broker. Their commission fees may seem a bit higher than most but the more you trade, the commission does go down. You'd have the trade quite a but however.
They do offer stocks, options futures and bitcoin. Since bitcoin has become quite popular, this may be an attractive feature.
They also offer a pro platform to the most advanced traders. This platform does require you to keep your account at least at $250,000. As result, their pro platform isn't for most every day traders.
E-Trade is one of the best brokerage firms for ease of use with a lot of tools at your disposal. Read our E-Trade review to learn more.
If we're talking about the bests brokerage firms we can't leave out Fidelity. They're consistently in the running for best broker if they're not winning the award.
They lowered their commission fees and as a result, have become even more popular. They have great tools and research capabilities.
They're great for investing with ETFs and mutual funds. Therefore, their multifaceted which can be a great thing because as you know, diversification is key.
Read our Fidelity Review to learn more about the other features they offer.
If you watch us on our live streams each day in our trade rooms or watch our watch list YouTube videos, you'll notice our charts are all from ThinkorSwim. Their charting platform is awesome.
Our live streams show you how to use the best brokerage firms in real time. Not only do you see how charting platforms but you see us teach in real time.
It's like have a two hour class in trading every day. And you can go back and re watch it later if you missed it or want to see it again. Check out our trading service to see what else we offer.
We also trade alerts that couple with our watch lists. These are key support and resistance levels to pay attention to and not buy signals. We want you to be aware of key levels but make the decision to place the trade.
You can trade our watch list and alerts on the best brokerage firms of your choice. You'll notice that at times the alerts trigger and then fall. As a result, you could lose money just buying at the level.
However, if you're in charge of your trades, you can the bearish or bullish side of things. We also offer real time stock alerts for higher priced stocks and options.
Those have entries and exits given because they can't be pumped. Because we're not a stock pumping service, we feel much more comfortable giving entries and exits on stocks that can't be pumped.
They here to help. Excellent info. I highly recommend.Lenny S.
Great information, fantastic YouTube videos for anyone new to stock trading.Theodore v.
Click Links Below to Read the Corresponding Review of the Best Brokerage Firms