Picking the Best Online Trading Broker For Cost and Quality

Whether you are just beginning online trading, or you are a more experienced investor, picking the right online broker is a very important part of your success as a trader. When you are just starting stock investing, you should weigh the cost factors more heavily. As you gain more experience, you will learn what features are important to you, like trading tools, customer support, live broker assistance or the availability of branch offices that you can visit.

As a new trader, look at the category of discount brokers. Don't let the term "discount" scare you. There are some very big names in this category that have built a solid reputation for serving the needs of individual traders. Names like E*Trade, TD Ameritrade, TradeKing and Scottrade.

But can you get quality along with your choice for a cheap online broker? The answer is a resounding YES! Here are some of the quality awards and recognitions for these brokers:

E*Trade - Rated the #1 Online Broker by SmartMoney - The Wall Street Journal Magazine and received 4 out of 5 stars by Barron's annual ranking of the best online brokers.

TradeKing - Rated #3 among all online brokers in 2008 and "Best" in Customer Service by SmartMoney - The Wall Street Journal Magazine as well as their #1 Discount Broker in 2006 and 2007. Also top-rated among web-based brokers by Barron's.

TD Ameritrade - Rated #4 overall in 2008 by SmartMoney magazine and ranked "Best" in quality of trading tools.

Scottrade - In the current survey (October, 2007), Scottrade was ranked Highest in Investor Satisfaction with Online Investing Services by J.D. Power and Associates for the seventh time.

So there it is, you have several good choices for a low-cost and high-quality online trading broker as measured by independent industry experts.

Download my free guide, "7 Steps to Online Trading Profits" for the full cost comparison of these online brokers at http://www.beginningonlinetrader.com/

Daniel B. Johnson is vice-president of a wireless communications company based in Dallas. He maintains a successful online trading career on a part-time basis to earn an additional income stream.

Article Source: http://EzineArticles.com/?expert=Daniel_B._Johnson