Reviewers note that unlike before online brokers cannot be separated into categories anymore, such as premium and discount brokers or web-based and software-based brokers. The terms of the cost of trades or the research and trading tools on their websites are so similar that it is difficult to set them apart from each other.
Experts suggest considering the following when choosing an online broker:
Many financial writers suggest that you may not even need a broker. They believe that it is virtually impossible for an individual investor to beat the stock market, so they recommend buying and holding low-fee no-load index mutual funds purchased directly from a mutual fund company to form the core of a personal investment portfolio.
Experts also suggest opening multiple accounts because different accounts offer different kinds of specials. For example TradeMonster rates for Options Trading is exceptional, on the other hand TradeKing offers one of the cheapest rates for Stocks trading. Incidentally both of them have specials going on currently for new accounts. Please check Special Offers sections for further details.
Refer your friends to OptionsHouse and get your choice of $150 or 30 commission-free trades.