Thanks for the response Patrick, found this...
(A summery of several ratings done by Consumer Search:)
1. Best online broker overall - Fidelity
Fidelity gets the highest scores for its excellent research tools, even though its commissions are higher than some other online brokers. Its website is easy to use, with a wide range of investment tools and calculators. Its customer service scores are also among the best in the business. Fidelity's base commission rates are $19.95 per market order, but there are no handling or maintenance fees. Although that's higher than a lot of online brokers, rates drop for those with high account balances or for very active traders. Fidelity has a minimum opening balance of $2,500. It also offers numerous branch offices throughout the country where clients can speak with a trained professional.
2. Best discount broker - TD Ameritrade.
When TD Ameritrade was formed from the merger of TD Waterhouse and Ameritrade in 2005, reviewers said that the new company was off to a rocky start. With time, ratings have improved, and now Barron's rates TD Ameritrade the number one web-based broker, saying that the firm has adopted the best parts of its two companies, combining the great research tools of TD Waterhouse with improved trading from Ameritrade. In customer satisfaction surveys, TD Ameritrade ranks as one of several firms that performs above the industry average. Commissions are a flat-rate $9.99 for any amount of shares, and there is no minimum investment to open an account.
3. No-frills online broker - Scottrade.
Reviews say that Scottrade offers excellent value for the money for those who don't need a lot of handholding. Trades are fast, customer service is good and costs are low. The minimum opening investment is $500, and market orders are only $7, with no inactivity or maintenance fees. However, Scottrade offers less in the way of research or additional services, so it's best for those who don't need much extra help. Scottrade has opened nearly 300 branch offices, which allow clients to talk to an advisor.
4. Best online broker for novices - ShareBuilder.
With ShareBuilder, reviews say new users can expect plentiful investment strategy primers, ranging from dollar cost averaging to diversification, and the company has no minimum balance requirements. This is one of the few sites that allows customers to set up automatic investments for stock trades, which only cost $4 each. Regular market orders will cost you $15.95, however. Although ShareBuilder doesn't get the best scores in any one area, it fills a niche for those who want low-cost automatic investments. Note that ShareBuilder is now part of ING Direct. |
