If you want to participate in any type of investment, especially the stock market, then it is a good idea these days to go through an online brokerage firm. Since they don’t offer a full service, their fees are usually lower than what the average broker charges. Discount firms offer recommendations on low-cost stocks and other affordable investment opportunities and won’t charge a fortune for trading fees. Here are some of the best discount brokerage firms for you to check out:
This is a very solid option for the more advanced and frequent traders. New operators may not like downtime fees and high balance requirements, so only consider this discount company if you already have a bit of experience. The fees are just $ 0.005 per share and clients can trade more than 20 currencies in 120 markets in more than 30 countries. The marketplace is searchable and connects users to a variety of services, including hedge funds, advisers, business developers, research analysts, and more.
The way this discount brokerage company works is that clients do not have to pay any trade commission. Instead, you would have to pay a monthly fee up front for the “Gold Service”. This gives you access to a large number of margin loans. To ensure you get the best possible price, orders are not shipped. Both the mobile app and the website are very easy to use, even for beginners.
Speed of light
This is one of the best discount brokerage firms for high volume traders who have some experience. It is not uncommon for Lightspeed traders to trade more than 1000 times a year. It also allows its clients to trade through its internal and third-party trading platforms. However, the Lightspeed Trader platform costs $ 100 each month for the software fee. The commission expense is applied to this monthly fee.
This is a versatile trading platform for everyone from beginners to active traders. It has higher than average commissions compared to the other best discount brokerage firms, but to make up for it, it provides superior research and tools to help increase your chances of success. The service team is second to none too. Experienced and licensed representatives are available via email, chat, phone, and in person to provide assistance.
If there is one company that truly deserves to be among the “best discount brokerages,” it is Zacks Trade. The firm offers competitive rates and innovative platforms. Allows members to find EFT stocks and trades starting at $ 3 (1 cent per share). If you switch to this company, you will even pay the transfer fee (up to $ 150) on full account transfers ($ 5000 minimum). You’ll also get versatile trading options and a feature-rich workstation to optimize trading efficiency and speed.