Of all the important features of an online broker to consider your choice of investments to make is your most important decision followed by your choice of brokers as a close second. Comparing online brokers is essential to making the best choice for traders and proves to be instrumental in enjoying a 30% yearly profit or no profit at all.
This review of the seven top online brokers is a good place to start your research. We have compared a few of the essential elements such as commissions, costs and fees and balance requirements. A list of the services offered and contact information are also included. We recommend whether the online broker is new-trader friendly or geared toward the more experienced trader.
OptionsHouse
OptionsHouse is considered by many traders to be the best discount broker online. Their reduced prices on option trades or stocks are very hard to beat. Their low costs and fees are attractive to beginning and experienced traders alike.
Costs and Fees: Stock trades cost $4.95 for traders. The cost of option trades is $4.95 while an options contract is $0.50. Futures contract cost is not available. Margin rates are 2%-6.5% with no minimum balance required.
OptionsHouse is not a full-service broker and as a result they don't offer every service type of investment nor do they include other financial resources such as banking or education. This online brokerage caters to those who only want to invest in options and are looking for the cheapest prices.
OptionsHouse is a great online brokerage for options traders who tend to trade frequently and love a deal. OptionsHouse contact number: 877-653-500 Web address: www.optionshouse.com.
TradeStation
TradeStation makes a good choice for traders who appreciate the convenience of being able to trade stocks, ETFs, options and forex currency pairs on one platform. OTCBB and Pink Sheet stocks, T-Bills, Mutual Funds and bonds represent other financial instruments available.
Traders can access all these instruments through a software download, a website, or a mobile app. TradeStation provides a full range of trader education that even experienced traders will appreciate. A huge historical market database assists in backtesting strategies and TradeStation supports automated trading systems.
Fundamental and technical analysis tools are extensive. Many other features, including comprehensive charting tools and one of the fastest order execution systems anywhere help traders to make good decisions and fill orders at the desired price.
Stock traders have the choice of per-share pricing or flat-fee per trade. Options for as low as $1.00 per contract or $4.99 per trade plus $0.20 per contract and futures for as low as $0.25 are based on trading volume. Currency traders can choose from accounts with no commissions and very competitive spreads.
Fourteen different account types offer a choice for every trader. The account size/ margin requirement for Day Trading accounts is $30,000. For non-day-trading accounts, the amount is $5,000.
Web address: www.tradestation.com.
Other links
Here are some resources about the Best Online Brokers for non-U.S. Residents :
Best Online Forex Brokers — The best online forex trading websites
Binäre Optionen Online — The best online binary options trading websites in German
Other resources about online gambling:
Legal US Gambling Websites — The guide for legal online gambling in the United States
Legal Online Casinos in Deutschland — The same guide for Germany