Home / Finance / 5 Best Online Brokerage Companies To Choose From
Finance

5 best online brokerage companies to choose from

Online broking is simply buying assets through a brokerage firm that has an internet-based trading platform. The late 90s witnessed the evolution of the high-speed internet. This enabled online trading of stocks, bonds, mutual funds, and exchange-traded funds (ETFs), which gave rise to online brokerage companies. These companies help investors trade their money in different investment options. Online trading is also referred to as e-trading or self-directed investment.

Based on factors like affordability, platform versatility, and customer service, here are some of the best online brokerage companies that you should consider for trading your investments.

5 best online brokerage companies to choose from

Vanguard
It is one of the top brokerage firms, which is popular among low-cost investors. It is mostly utilized by retired and buy-and-hold investors who have a high account balance. Long-term investors should consider using this online broking company as it has a low expense ratio of ETFs and index funds.

It is one of those online brokerage companies that list the safest trading options, promising a long-term growth. Vanguard offers around $7 trades for accounts worth $50,000. The same trades cost $2 for accounts with $500,000. The trades become free once the account reaches a million dollar. Investors who frequently trade (for at least 25 times a year) might be charged with a nominal fee.

Ally Invest
If you are a seasoned investor, you should consider Ally Invest. The online trading company offers forex trading and automated portfolio management. Although there are no minimums, the commissions on trades are around $4.95. Frequent investors who trade for 30 times or more within three months are required to pay only $3.95 for their trade.

Ally Invest has a versatile PC and smartphone platform. You can make your own customized dashboard with a diverse set of trading tools. Some other useful features are a profit and loss calculator to evaluate your earnings. It also has Maxit tax manager, which informs the investors about changes in the taxes based on the trades. The probability calculator tells the likelihood of the desired target for each share.   

TD Ameritrade
This is one of the best online brokerage companies. This is because it has some of the best resources for both, beginners and advanced investors. The company offers portfolio-building advice, more than a hundred ETFs, and a trading platform for both mobile and PC. TD Ameritrade has online programs for beginner traders called “web platform” where it helps investors build a balanced portfolio including ETFs, mutual funds, stocks, and bonds. TD Ameritrade also provides free resources if you like to do your own research.

You can also communicate with a panel of specialists with whom you can chat personally and get advice on the best investment options.

Scottrade
The online brokerage company has about 500 offices across the country, where investors can visit and consult a knowledgeable investor. Scottrade has more than 1000 consultants for all your investment-related queries. They do not have an account minimum as you have to pay around $6.95 as a commission for a single trade. Scottrade offers 50 commission-free trades on depositing $10,000 in the Scottrade account.

They have also lowered their contract fee from to $1.25 to $0.70 in the recent years. Another factor that makes Scottrade one of the best online brokerage companies is that it only costs around $17 to sell and buy no-load funds. The number of such transaction fee-free funds is a whopping 2600.

Robinhood
The online brokerage companies are best for commission-free stocks and ETF trades. The investors don’t have to pay the account minimum. They can immediately trade $1000 to invest in various stock options. A free upgrade enables investors to sell stocks and ETFs and buy the same elsewhere.

The online brokerage company has a great mobile app that saves you from the hassle of switching to your PC to track your stock earnings. It allows you to transfer your money automatically to your bank account and vice versa, whenever you want.

Disclaimer:
The information available on this website is a compilation of research, available data, expert advice, and statistics. However, the information in the articles may vary depending on what specific individuals or financial institutions will have to offer. The information on the website may not remain relevant due to changing financial scenarios; and so, we would like to inform readers that we are not accountable for varying opinions or inaccuracies. The ideas and suggestions covered on the website are solely those of the website teams, and it is recommended that advice from a financial professional be considered before making any decisions.

Most Recommended Blogs

Identification And Treatment Of Kidney Stones
Health & Wellness

Identification And Treatment Of Kidney Stones

Identification and treatment of kidney stones A kidney stone is formed when there is a gradual buildup of material in the kidney through substances in the urine. It has a plethora of causes and can affect any part of the urinary tract from the kidneys to the bladder. The stones can be as small as grains of sand or as big as pearls.
How Can You Control The Symptoms Of Liver Damage
Health & Wellness

How Can You Control The Symptoms Of Liver Damage

How can you control the symptoms of liver damage? The liver is an integral part of a human body. It is located just under the rib cage on the right side of the abdomen. The liver helps in digestion and removes toxins from the body. It filters out all the blood coming out of the digestive tract before it goes to the rest of the body.
Helicobacter Pylori (H. Pylori) Infection – An Overview
Health & Wellness

Helicobacter Pylori (H. Pylori) Infection – An Overview

Helicobacter pylori (H. pylori) infection – An overview H. pylori can be described as a common bacteria found in the human digestive tract. These have the tendency of attacking the lining of the stomach. These bacteria are the main reason for stomach infections. Typically speaking, H. pylori infections do not tend to be harmful, but they are responsible for ulcers in the small intestine and the stomach.
Everything You Need To Know About The Flu
Health & Wellness

Everything You Need To Know About The Flu

Everything you need to know about the flu Flu is a common viral infection that can affect anyone. In some cases, the flu can be deadly. It is often mistaken as other health conditions because of the symptoms it exhibits. Flu is contagious. Every person is affected by the flu at least once in their life.
Head And Neck Cancer Treatment Options In The Country
Health & Wellness

Head And Neck Cancer Treatment Options In The Country

Head and neck cancer treatment options in the country Most cancers of the head and neck are curable if they are caught at an early stage. Apart from eliminating cancer, which is the primary goal, preserving the functionalities of the nearby organs, nerves, tissues, and glands are also very important.
An Overview Of Frequent Urination- Causes, Symptoms, And Treatment
Health & Wellness

An Overview Of Frequent Urination- Causes, Symptoms, And Treatment

An overview of frequent urination- Causes, symptoms, and treatment Frequent urination, as the name suggests, is the recurrent urge to pass urine more often than usual. An individual’s everyday normal routine and sleep cycle can be disrupted by this condition. Frequent urination may be a sign of an underlying medical condition.
Things To Consider Before Going For Head And Neck Cancer Treatment
Health & Wellness

Things To Consider Before Going For Head And Neck Cancer Treatment

Things to consider before going for head and neck cancer treatment The head and neck are the most vital and fragile parts of the body. If diagnosed with head and neck cancer, there are a lot of things that should be kept in mind before starting the treatment. One should know how long the treatment would take and what are the chances of them defeating it.
Everything You Need To Know About Frequent Urination
Health & Wellness

Everything You Need To Know About Frequent Urination

Everything you need to know about frequent urination Frequent urination is called polyuria in medical terminology. Also called frequency, it is a condition many people live with and do not seek medical assistance as they consider it to be a normal thing. Frequent urination means a desire to pass urine more often than what is normal for them.
Best Detox Drinks That Can Help You Lose Weight
Health & Wellness

Best Detox Drinks That Can Help You Lose Weight

Best Detox drinks that can help you lose weight If you have tried a lot of methods to lose weight and still are unable to shed those extra pounds then detox water and other healthy drinks might be the answer for you. Drinking detox water helps the body in many ways.
Low Calorie Health Drink Ideas For Winners
Health & Wellness

Low Calorie Health Drink Ideas For Winners

Low-calorie health drink ideas for winners Low-calorie health drinks are becoming more and more popular with every passing day, as people start to realize the number of health benefits these drinks bring to the table. Healthy drinks not only have low-calorie content but also contain varying amounts of nutrients and antioxidants.
Signs And Symptoms Of Internal Hemorrhoids
Health & Wellness

Signs And Symptoms Of Internal Hemorrhoids

Signs and symptoms of internal hemorrhoids Hemorrhoids, also known as piles are of two types: internal & external. They are essentially swollen veins found in your anus or lower rectum and consist of blood vessels, elastic fibers, and multiple tissues. It is a common medical condition and found among most US citizens before they touch the age of 50.
Treatment Options For The Prolapsed Bladder Condition
Health & Wellness

Treatment Options For The Prolapsed Bladder Condition

Treatment options for the prolapsed bladder condition The bladder is a muscular sac located just behind the pubic bone, which stores urine. The front wall of the vagina supports the bladder in women, and it weakens or loosens with age. If it continues to deteriorate, it can lead to a prolapsed bladder or fallen bladder condition.
Everything You Should Know About Treating Gas Problems
Health & Wellness

Everything You Should Know About Treating Gas Problems

Everything you should know about treating gas problems Gas can be quite embarrassing to deal with, to say the least. However, the problem of a gassy stomach extends far beyond just embarrassment and can actually be a very painful experience indeed. Also known as flatulence, a gassy stomach is characterized by the excessive buildup of gas inside the digestive tract.
An Overview Of Fibromyalgia Pain
Health & Wellness

An Overview Of Fibromyalgia Pain

An overview of fibromyalgia pain Fibromyalgia is a condition that causes pain, stiffness, and tenderness in muscles, tendons, and joints throughout the body. People experience fibromyalgia pain differently, and its triggers vary from one person to another. The condition can affect anyone, but it is seen more often in women.
Remedies And Treatment For The Helicobacter Pylori (H. Pylori) Infection
Health & Wellness

Remedies And Treatment For The Helicobacter Pylori (H. Pylori) Infection

How to manage and treat the symptoms of Helicobacter pylori (H. pylori) infection? Helicobacter pylori (H. pylori) are bacteria that enter our body and live in the digestive tract. They are usually harmless and infect the stomachs of roughly 60 percent of the world’s population. The spiral-shaped bacteria usually don’t cause any symptoms but have a tendency to attack the stomach lining, leading to diseases, including peptic ulcers and an inflammatory stomach condition known as gastritis.
Factors Triggering Fibromyalgia Pain And Ways To Alleviate It
Health & Wellness

Factors Triggering Fibromyalgia Pain And Ways To Alleviate It

Factors triggering fibromyalgia pain and ways to alleviate it Generally, when a person is injured or hurt, the signal travels all the way from the injury point to the brain and the brain comprehends this as pain. The brain signals the body to respond accordingly. Slowly, the pain lessens with time and treatment and finally goes away.