If you want to get involved in any type of investment – especially in the stock market – it is a good idea to go to an online brokerage company these days. Since they are not full-service, their rates are usually lower than what the average broker charges. Discount companies make recommendations on low-priced stocks and other affordable investment opportunities and will not charge a fortune for commissions on deals. Here are some of the best discount brokerage companies to look for:
This is a very strong option for more advanced, frequent traders. New traders will not really like the inactivity fees and high balance requirements, so consider this discount firm only if you already have a little experience. The fee is only 00 0.005 per share and customers can trade in more than 20 currencies in 120 markets in 30+ countries. Marketplace is searchable and connects users with a variety of services, including hedge funds, advisors, business developers, research analysts and more.
The way this discount brokerage company works is that customers do not have to pay any trading commission. Instead, you will have to pay the next monthly fee for the “Gold Service”. This gives you access to many margin loans. To ensure you get the best possible price, orders are not routed. Both the mobile app and the website are very easy to use – even for beginners.
This is one of the best discount brokerage firms for high-volume traders with some experience. It is not uncommon for lightspeed traders to trade more than 1,000 times per year. It also allows its customers to trade through both its third party and in-house trading platforms. However, the LightSpeed Trader platform costs $ 100 per month for software fees. Commission costs apply to this monthly fee.
This is a versatile trading platform for everyone from beginners to active traders. It has higher than average commissions compared to other best discount brokerage firms, but to compensate for that, it offers some of the best research and tools to help increase your chances of success. The service team is also second to none. There are knowledgeable, licensed representatives who are available for support via email, chat, phone and in person.
If there is one company that really deserves to be among the “best discount brokerage firms”, it is Zax Trade. The firm offers competitive rates and innovative platforms. It allows members to search stocks and EFT trades for 3 (1 percent per share). If you switch to this firm, it will also pay the transfer fee (up to $ 150) on full account transfer (5000 minimum). You will also find workstations rich in versatile trading options and features to optimize efficiency and speed in trading.