I’m sure you know by now, but you are only as successful as your tools. This is true in all areas of our lives.
It’s especially true when it comes to our finances. Where you invest matters. How you invest matters. How often you invest matters. It’s critical to your long term success that you choose tools that work for you instead of against you.
Part of this philosophy ties back into the belief that you should not be paying more when there is an alterantive option. The same applies for discount brokers. There is a reason the word “discount” is in the name discount broker. You’re receiving the same service but at a much lower cost.
Costs become especially important when you are trading and investing on a regular basis. You want to avoid costs every chance you have because every time you have to pay a fee, you’re eating into your personal wealth.
Thankfully, I’ve done all the work for you. I’ve had accounts with many online brokers, and only a few are real winners. I’m hoping this can be a great resource for you and help you on the way to financial freedom.
And feel free to comment below this page with your experience with these brokers!
Betterment
Everyone knows that they need to start thinking about saving and investing at some point, but who has the time? Let alone, the investment savvy to stay on top of what could be life changing decisions. Betterment.com is made for smart, busy individuals who want to be proactive with their investment future, without dropping their active lives for it! Based on the simplicity of an online bank account, Betterment doesn’t run on commissions or balance fees, and clients usually wind up paying less than half of what they’d pay elsewhere each year. To keep your investment portfolio as busy as you are, Betterment is a better investment.
Here’s my take:
I really like Betterment because of the simplicity of their platform. You literally never have to worry about managing your money because they do it for you. Fees are charged on an annual basis and are comparable to other top brokers. Also, they’re offering a $25 bonus just for signing up.
TradeMonster
Are you ready to start trading options with tradeMONSTER? They offer a user-intuitive trading platform with real time streaming data, built-in educational resources, and much more. With the ability to practice day trading, tradeMONSTER sets itself apart from the rest. Also, with options for retirement accounts, tradeMONSTER is ranked as one of the best discount brokers for retirement savings locations. Stock trades are $7.50 each. Sign up is easy.
Here’s my take:
If you’re an active trader, tradeMONSTER will be your new best friend. It will greatly benefit you if you spend any amount of time trading options. I love their virtual trading platform and a feature called the “Exit Strategy” where you are notified at certain profit targets. This is a great broker for anyone wanting to go at it alone and purchase multiple trades throughout the day!
Zecco
For everything investing turn to Zecco, where you’ll find great customer service, free stock trades, powerful investment tools, and a groundbreaking financial community. At Zecco, you get 10 free stock trades every month when you maintain a $25,000 balance or execute 25 trades each month. Otherwise, it’s just $4.95 per trade. There’s no catch! Plus, your money is safe with Zecco. Their fully licensed brokerage is a member of SIPC, covered by Lloyds of London insurance and secured through Verisign. Since its launch in 2006, Zecco has welcomed over 100,000 trading customers.
Here’s my take:
Zecco offers a combination of low trading costs and an absence of hidden fees. What you see is what you get with Zecco. Zecco is great for an investor who wants to go solo and doesn’t need educational information. One of the best offerings with Zecco is their online community. It’s active and traders share information with each other and is a source of encouragement.
Disclaimer: Offer no longer available.
Options Express
Are you interested in learning more about trading, but are afraid of losing money in the process? The Virtual Trade tool from OptionsXpress allows you to practice trading stocks, options and futures in real-time without the risk of losing money. Virtual Trade is a practice environment that simulates real market conditions. Here, you can try out strategies using virtual money and analyze your virtual performance. Stock trades are $9.95 a trade. OptionsXpress also offers an Education Center, where you can learn and review trading terms and concepts.
Here’s my take:
I like OptionsXpress because of their stellar customer service. If customer service is a hot button issue for you, go with these guys. You won;t need cash to open a new account and they offer awesome perks like broker assisted trading and instructor lead online classes. You will also receive a $100 bonus for signing up. OptionsXpress is a great “all around” discounted broker.
Disclaimer: Offer no longer available.
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