How Do You Choose an Online Broker?
May 18, 2010
Choosing an online discount broker isn’t a simple task if you’re anything like me. There are many companies to choose from, each of which has different strengths and weaknesses and you want to be sure to choose the best one for you. Just like picking a bank, insurance company, mortagage lender, or other financial service company you probably go back and forth over the decision because the one you choose will have an impact on whether your money is put to good use.
Discount Broker Reviews
Luckily for us, SmartMoney magazine conducts an annual broker survey where they evaluate the online brokerages on a number of criteria and come up with a list of the worst and best online brokers.
The survey rates each discount broker from one to five stars in each category to come up with category winners; and also picks an overall winner. This year’s survey is coming out in the latest edition of SmartMoney so we don’t know quite yet who the best are in each category.
I’m curious which aspects matter the most to you when choosing an online broker. Here are the categories that the survey rates:
- Commissions & Fees
- Investment Products & Mutual Funds
- Customer Service
- Trading Tools
- Banking Services
Which of these are most important to you?
All posts by Ben Edwards