Best Online Brokers
Before you open an online trading account and begin trading, the first step you should follow is choosing an online stock broker that is right for you. There are many different brokers and they all offer their own special services and features. So how do you go about choosing the best one for you?
Commission fees are NOT the only thing that you must look for when you do your research. Other factors also play significant roles in your decision such as account minimums, trading tools, customer service, account security, and speed. There are also many other factors that may play a role in your decision making.
After thorough research and personal experiences, here are our top recommendation for traders:
Ally is well known for low cost trading commissions and quality customer service.
There is no minimum amount required to open an account. The trading commission is a flat fee of $4.95 for stocks and ETFs. Option trades are just $4.95 plus $0.65 per contract.
Ally offers a trading platform with free screening tools, customizable stock charting, research and real-time data. The trading platform is web-based so no downloads is required.
Research and Trading tools
This is where Ally shines as they offer access to professional financial advisors without paying a premium. Ally's tools are rated among the "Best for Options Traders" by Barron’s. Tools include Probability Calculator, Profit + Loss Calculator, Stock and Option Screeners, Technical Analysis Tools, and much more.
Ally has a community where traders and investors can exchange ideas, share trading strategies, and get insights from others.
Click here to visit Ally
OptionsHouse is well known for low commission rates for both stocks and options trading, free virtual trading account, and proprietary trading tools.
OptionsHouse is one of the best and cheapest online stock brokers. The transaction cost per stock trade is $4.95 flat rate and options contracts costs a $4.95 base plus $0.50 per option contract.
OptionsHouse is named a Barron’s top broker and "Best for Options Traders" in the 2016 Best Online Broker Ranking. OptionsHouse has been awarded “Best for Options Traders” — 4.5 by Barron’s six years running: 2016, 2015, 2014, 2013, 2012, and 2011.
Virtual Trading with OptionsHouse
OptionsHouse offers a great virtual trading platform to test your stock and options trades. Learn to trade or test your strategies before you trade or invest. The system is built and tested by professional traders with more than a decade of experience, their virtual trading platform delivers the same professional-level tools, data and functionality as their live platform.
Proprietary Trading Tools
OptionsHouse trading tools include streaming charts and news, volatility charts, a probability calculator, and an options hotlist, to name a few. Many of these tools were created by the options-trading pros at PEAK6, who continue to use the prototypes to generate and test option trading ideas.
OptionsHouse is the perfect online broker for active traders (swing traders & day traders) and investors who want low cost trades with advanced trading tools. OptionsHouse sets itself apart from other online stock brokers with their research tools and proprietary trading platform.
OptionsHouse is offering Commission-free trading for 60 days When you open and fund a new account.
Click here to visit OptionsHouse