Review of Stock Brokers: Option House Vs Zecco Vs Choice Trade Vs TradeKing
StocksNewbie has rated the following online discount stock brokers based on their customer service and usability.
These brokers are primarily chosen for amateur traders, newbies and people with low bank balance.
The commission charged by these brokers is $5 or less, therefore they are ideal for small time investor. These brokers also do not require any minimum balance to open an account and there are no maintenance fees.
Review of the best online discount brokers: Zecco Vs OptionHouse Vs TradeKing Vs ChoiceTrade:
| Company/Broker |
Price Per Trade |
Barron’s Rating |
StocksNewbie Rating |
Open Account |
| Zecco | $4.50 + 10 Free |
3 Stars |
9 out of 10 |
|
| $4.95 | 4 Stars | 9.5 out of 10 | ||
| Choice Trade | $5.00 | 3.5 Stars | 8.5 out of 10 | |
| Option House |
$2.95 |
4 Stars |
9.5 out of 10 |
|
For traders with less than $25,000 in their trading account, I recommend that you open account with at least two of these brokers. That way, you do not have to worry about the limitation of “Day Trading” ( It is the buying and selling of stocks/options within the same trading day such that all positions are closed before the market closes that day). When you have more than one account, you can switch to a different broker before you hit your day-trading limitation.