Have you ever considered online trading? Trading through an Online Discount Broker is not a daunting task but it sure has its share of ups and downs. You are not a driven stock trader, agreed but you should consider opening an online account considering the recent developments in the online trading arena. Many online trading firms have reduced their fees as well as their responsibilities considering and are offering many low-cost financial services.
The Consumer Reports Money Lab broker Rating
According to the Consumer Reports Money Lab, around 19 online brokers are using a standard web browser such as Internet Explorer and Firefox. The ratings were done on the basis of cost and scope of the services offered by the companies. Eight companies among these 19 companies offered stock trades less than $ 10 while 6 companies reduced the orders to below $ 10 if the investors met their account size needs or trading activity. Some of the firms charged flat fees of $ 5.
Growing list of services offered by the company
Many online brokers are introducing new services to their existing portfolio. These include free stock research, free checking, ATM access, and automatic bill paying.
If you are venturing in the online stock trading market for the first time, check out a couple of online trading sites. Compare discount stockbrokers deals available on the various sites to select the cheapest online stock trading deal. Trade online and when you have gained confidence, invest in the larger stocks.
A prudent move that helps most of the investors is to compare the offers and services of these online brokerage firms. Although the deals look similar on the surface, most of the companies try to individualize their offers and services as much as possible. The commission rates vary from company to company and are often a deciding factor for the investor.
Online stock trading can be a thrilling experience if you learn to play it well and within your self defined limits. Start with small investments and slowly and steadily as you mature as a player, can try your luck at 'no holds barred' online trading game.