There are many competitors in online forex broker industry striving to provide low cost services. These brokers are designed to provide their customers simply low cost solution. However, there exist such brokers which do not do this fairly. As they have to take care of other costs they try covering it by use of hidden fees and certain costs that user realizes after doing some research.
LightSpeed was considered the best online forex broker this year. It offers two types of commission plans: one for regular traders and one for professional traders who are looking for direct access. The LightSpeed Web Platform offers as low as $3 commission per trader for order size of up to 50 thousand shares. Expert traders choose LightSpeed as it offers $0.0045 rate per share or $4.50 for each trade flat plus/minus applicable fees. The last year’s best online forex broker, OptionsHouse, still earned very high points because of its simple structure of trade. However, it missed some points and could not get the first position because of raise in their base rates per trade from $2.95 to 3.95.
When it comes to user-friendliness, some large online forex brokers who offer great choices of trade tools, research and other things are also providing some best trading platforms and websites. Small brokers and large brokers both have their advantages as small brokers have less content and large brokers have experienced customer care managers and web developers. According to our ratings, the best brokers in this field are Avafx, Hotforex, Etoro, OptionsHouse, ShareBuilder, TD Ameritrade, Scottrade and ETRADE.
You can easily search and navigate through the simple and efficient website. ShareBuilder realized that it is very important to keep their users happy as mostly users have retirement account of their own and are looking for automatic investments. It’s simple yet enjoyable to register and use the automatic investment option provided by ShareBuilder. You can manage your account and portfolio on many types of mobile platforms easily.
Platform and Features
Almost all online forex brokers, whether their application is desktop or web based, offer stand-alone platform for trading but it’s not that simple to be the best product. The credit goes to skilled and hard-working coding and designing teams who dedicatedly devote themselves to provide clients best environment. The whole forex broker industry has realized that value lies in offering best platform.
If you notice the winner of this year, TD Ameritrade, you will clearly see how good their platform offering are which bring it to top. TD Ameritrade has offered two types of platforms for both web and desktop i.e. Trade Architect and thinkorswim respectively. Both these platforms won awards for best platforms this year.
“Active traders” is a term used for a special group of traders who want the best services from the broker they choose in things they are interested in. For example, some traders will be interested in the platform for their success and some will take the ordering system more important. The average trader will consider it satisfying if he clicks “buy” and respective stocks are shown on his portfolio page. On the other side, it will be more difficult to handle professional traders who will have more expectations and will demand complete target entry. Fulfilling their needs is very important for success.
Interactive Brokers is a popular online broker with exciting discounted commissions and quick trade executions. The broker offers access to up to 19 market exchanges and allows almost all kinds of trading including stocks, futures, forex, options, bonds and many more. This is the reason this year it has gained the “Best Broker for International Trading” title. TradeStation is another broker which is well-known because of its excellent platform which supports multiple customizations and auto trading. It is by far the only broker which allows programmers to customize tools according to their choice using the broker’s own programming language i.e. EasyLanguage.
5 Best Online Stock Brokers
If you are looking forward to make investments in online forex brokers, you must know the best ones of them. In the following lines, some of the most profitable brokers will be discussed. Some of these brokers are popular for their excellent customer relationship services and some are known for their leading trading environment. Following are some of the leading stock brokers and some advices for choosing the best broker online.
According to the rankings of StockBrokers.com of year 2011, the number 1 online broker is ETRADE which offers highly excellent trading tools with choice of trading from anywhere using various mobile devices like Power ETRADE Pro and ETRADE Mobile Pro. Known for their baby commercials, ETRADE offers complete investment guide from experienced representatives.
ETRADE currently offers up to $500 amount in new accounts and free trade (up to 500 trades) for sixty days.
TD Ameritrade won the first position in StockBrokers.com 2012 rankings because of its thinkorswin platform and architect and best web services. It also offers no account charge, third party research-reports and a range of other services for users.
TD Ameritrade currently offers up to $600 in new account and free trade for sixty days.
TradeKing is a huge broker website which offers excellent trade commissions, supreme customer care services and a portal where up to 200,000 investors share their trade knowledge, ideas, market analysis and research.
TradeKing currently offers $150 payback of transfer fees.
OptionHouse received 5 stars in both “Ease-of-Use” and “Fees and Commissions” categories in Broker Review by StockBrokers.com in 2012. It offers flat fee of $3.95 per trade and flexible options for trading rates: $5 for 5contracts or $8.95+$0.15 for each contract.
OptionHouse currently offers 100 trades free for each new account.
Because of excellent customer support services, Scottrade received Best Overall Client Experience award for year 2012.
There are over five hundred branch offices of Scottrade for customer service. It offers flat fee of $7 for stock trades. Users can also get benefits from the finest trading tools with platforms of OptionsFirst and Scottrade Elite.
Tips for Choosing Right Broker
You must keep in mind these basic tips and advices while choosing broker for your investments:
1. You should make a list of things most important to you then you can focus on narrowing the choices according to your needs which will help you making decision. Traders are more interested in mobile trading as you will be able to trade from anywhere.
2. You should choose a well-known and high acclaim broker as it will be enriched with more trading tools, high customer service and other features. The more the number of clients a broker has the more excellent services it will provide.
3. Give attention to the miscellaneous fees put up by online brokers. It is recommended to go for larger brokers for this reason. The smaller brokers usually put many hidden fees which users do not realize in beginning. For this, you must read current and valid reviews to get full information about the brokers. Recommended reviews on StockBrokers.com include reviews on TD Ameritrade, Etrade, OptionsHouse, Scottrade and TradeKing.