Stock market trading wouldn't be possible without trading companies to facilitate our trades. Reliable trading companies can help you make successful and smart trades. A trading company is something we take for granted because we just expect it. However, that wasn't always the case.
Computers and the internet have revolutionized the way we trade. In fact, we're able to trade on our own without having to call a broker to do it for us. It's all right at our fingertips. It used to be that you'd have to look at the newspaper for tickers. However, you couldn't map out support and resistance or look at candlesticks and patterns.
Instead, you saw a ticker symbol you were interested in and you called a broker to place the trade for you. Now we the ability to do it on our own. As a result, we have to be knowledgeable on patterns, candlesticks and technical analysis.
Without a good trading company however, we wouldn't have access to charts, scans and the tools we need to make profitable trades. Some companies offer more than others. You have to determine what you want your trading company to offer and if it fits your trading style.
TD Ameritrade is a trading company that we are big fans of. They offer a ton of great value and their services are excellent. Their ThinkorSwim platform is a powerhouse that offers a superior tools and features.
Their charting and real time data is unmatched. They offer custom stock scanners, many indicators, news, text and email alerts as well as webinars. On top of all that, their customer service is unmatched. One of our favorite aspects of ThinkorSwim is their simulated trading platform. It's is hands down the best simulated trading platform we've come across.
With it you have access to everything listed above and more. As a result, you can trade just as you would be using real money without accruing loss. As a new trader, that's incredibly necessary.
In order to get real time data you do need to open and fund an account. However, you don't need put a lot of money into the account. You'll thank us later though. Having real time data in a simulated account allows you to trade like you're doing it live.
If you're a part of our live streams in our trade rooms or watch our YouTube videos, you'll notice our charts are all from the ThinkorSwim platform. Again their platform is unmatched in efficiency and ease. Check out our trading service.
They also have a mobile app that works great. You can trade straight from the app and their charts pair with what you've already mapped out on your computer.
Take our ThinkorSwim tutorial in order to learn how to use the features available. We take a step by step look on how to set up your account, charting, order entry and scanners. We also go over trading stocks and options in this trading company. Also, check out our ThinkorSwim Review.
Interactive Brokers is one of the trading companies that we like because of their shorting ability. This is a platform for the more serious trader as they do require an account minimum of $2,000 and $10,000. However, their commission fees are inexpensive.
They have access to international markets which is an attractive feature. Their charting software isn't as streamlined at TOS so it can take some getting used to. However, they also offer a great paper trading feature. We recommend all new traders start out in a simulated account before going live.
As a result, having a trading company that offers simulated trading is always a plus. Especially when their simulated trading is top notch. Paper trading in their simulated account allows you to get used to and comfortable with their charting and platform.
One of the best features for IB is their hot keys. They allow their hot keys to be edited. As a result, you can set them to your specifications. Hot keys are great if you're day trading. You can capitalize on those super quick moves.
They also have a mobile app. It's clean, easy to use and has fast trade executions. They don't have as many indicators on the mobile app but you don't want to weight down your charts.
One of the biggest assets that sets Interactive Brokers apart from other trading companies is their shorting ability. Their ability to locate shares to short is unmatched. They have a shorting tool that displays in real time the amount of shares available to short on stocks.
Read our Interactive Brokers Review to learn how to set up and use their platform.
They are one of the oldest online brokers around. It has a reputation for great customer service because they put quite an emphasis on it. In fact, their reliance on customer service reps and advisers give it the human touch. As a result, many comments on this trading company are positive.
It houses three trading platforms. E-Trade Web is a browser based platform geared for the less active trader. You can track your accounts, make watch lists, stream market data and analysis as well as execute trades on this browser based platform.
However, if you're into active stock trading, they acquired OptionsHouse a few years ago. Don't let the name throw you off though. This platform has more than just options trading on it. However, that's what it's best known for. Although they also offer stocks, futures, index's and bitcoin. It is a well rounded platform in spite of its name.
The pro platform is available to the most advanced traders. This platform does require you to maintain an account of $250,000. As a result, traders who are quite active and place high volume trades find this particular platform more to their liking.
E-Trade is one of those trading companies that is easy to use with a lot of financial tools at your disposal. However, they don't offer paper trading. Read our E-Trade review to learn more.
Fidelity is an investment firm that has been established since the 1940s. As a result, they have become one of the most trusted trading companies around. They don't require an account minimum unless you plan to trade on margin.
As a result, this can be a great trading company for those who want to start out small. They have many commission free ETF's that can be quite attractive to traders and investors alike.
The online platform is set up like a website. You can't customize the platform like other trading companies but you do have access to many tools. For example, quotes, charts, news and analysis are all readily available to you.
Their Active Trader Pro is their platform that really shines. It has good charting as well as a multi-ticket order that can house up to 50 potential trades for you. They have many tools and studies available for you to take advantage of. However, they don't make this platform accessible to all traders.
Instead you must make 36 or more trades a year. If you're an active trader than that's nothing and probably won't be a drawback. They also have a mobile platform. However it's much simpler than any of their other platforms. Although it gets the job done. Read our Fidelity Review to learn more about its other features.
SpeedTrader is a trading company designed for very active traders. They have quick order executions and routing, low commissions and great trading platforms. However, they do charge a software fee and don't have the ability to trade Forex and Futures.
The account minimum is $30,000. Hence why this platform is recommended for only extremely active traders. They do have the ability to short stocks which makes this one of the better shorting trading companies.
SpeedTrader offers three platform types; SpeedTrader Pro, ActiveWeb, and their mobile app. SpeedTrader Pro runs through the Das trader platform. Each platform offers its own unique tools available.
SpeedTrader caters to hedge funds and other large trading companies. Hence the ability to decide how your trade is routed. Read our SpeedTrader review to learn more about the different features of this trading company.
CenterPoint Securities is a broker that caters to active day traders. Their ability to find shares to short is unmatched. They can even find the most difficult of shares. Hence their attractiveness to experienced day traders.
They also allow you to customize the way your orders are routed. If you place high volume orders, this is a great feature to have. You're in control of how quickly your trades fill. In fact, CenterPoint prefers large volume orders. Their prices and commissions reflect that.
CenterPoint has many trading platforms to choose from. They aren't free however. You will be paying monthly to use their software. However, with their platforms, you'll have access to many different tools as well as their fantastic shorting library.
Read our CenterPoint Securities review to learn more about their platforms, pricing and tools they have to offer.
CMEG is a trading company most popular for allowing you to bypass the PDT rule. This is a trading company located offshore hence the ability to bypass the PDT rule. They are registered with the IRS and insured so they're safe.
They've been around since 2013 and shouldn't be confused with CME Group. One is a trading company (CMEG) and one is a trading exchange (CME Group). Their commission fees are inexpensive and they stack up against other trading companies.
They offer editable hot keys and fast order execution. As a day trader, these are necessary tools. Especially for traders who trade volatile low float stocks. Since this is an overseas broker, make sure you have a bank that supports overseas wire transfers.
Read our CMEG review to learn more about what this company offers.