2008 Online Brokerage Rankings
Welcome to my 2008 Online Broker Ratings. All of the major online brokerages are ranked across 6 categories; Overall Trading Experience, Web Site Functionality, Trading Costs and Fees, Customer Service, Research & Investing Tools and Perks. There is also a detailed review link for each if you want to read an article that summarizes all of my findings about your favorite brokerage.
Why in the world would I put so much time and energy into this article? I was looking for a new brokerage. Sadly, all of my research convinced me to stick with my current broker which made this an exercise in futility. However, I gathered a TON of information so hopefully this will help you if you’re currently looking for a great online brokerage or trying to avoid a bad one. Enjoy!
~ Odd
| Link to In-Depth Review | Specialty | Overall Trading Experience Rank | Web Site Function-ality Rank | Trading Costs and Fees Rank | Customer Service Rank | Research/ Investing Tools Rank | Perks Rank |
| Ameritrade | Inexpensive trading combined with the most powerful Research & Investing Tools in the Industry. | 3 | 6 | 3 | 4 | 1 | 6 |
| E*Trade | The first to offer Global Trading. Buy foreign stocks on foreign exchanges with foreign currency. | 5 | 7 | 4 | 5 | 5 | 4 |
| Fidelity | Best overall trading experience in the industry. Groundbreaking trading tools like Wealth-Lab Pro. | 1 | 3 | 7 | 2 | 2 | 2 |
| Firstrade | Best value. Lowest trading expenses in the industry among all brokers that offer a full line of products. | 7 | 5 | 1 | 8 | 9 | 8 |
| Merrill Lynch Direct | All clients have access to market leading global research. Be the first to learn about new emerging markets. | 10 | 10 | 11 | 10 | 7 | 7 |
| OptionsXpress | Best Options site on the web plus a full suite of products. Great prices, education resources and trading tools. | 4 | 1 | 5 | 9 | 3 | 3 |
| Schwab.com | More no-fee no-load funds than any competitor. Mutual Fund traders can basically trade for free at Schwab. | 2 | 2 | 6* | 1 | 4 | 5 |
| Scottrade | Scottrade offers an exceptional training and trading experience for new online investors at deeply discounted prices. | 6 | 4 | 2 | 3 | 8 | 10 |
| SoGoTrade | At $1.50 per trade, SoGoTrade offers the lowest stock trading prices in the industry. | 9 | 8 | 9* | 6 | 10 | 9 |
| Vanguard | Vanguard rewards loyalty like no other. Long-Standing account holders gain access to ultra-low cost Admiral Shares. | 8 | 9 | 10 | 7 | 6 | 1 |
| Zecco Trading | 10 Free Trades per month and a growing social community. Participate in forums or create your own Zecco Blog. | 11 | 11 | 8* | 11 | 11 | 11 |
* Schwab was awarded a bonus in the Trading Costs category for having the most No-Fee & No-Load Mutual Funds available
* SoGoTrade was penalized in the expense category for not offering any Mutual Funds, Options, Bonds, Treasuries or CDs
* Zecco was penalized in the expense category for charging for basic services such as Charts ($5 per mo), Stock Screeners ($5 per mo), and Streaming Quotes ($8 per mo)
- Investing Principle #4 - Manage Expenses
- Investing Principle #5 - Compare to an Appropriate Benchmark
- to Money-and-Investing.com Main Site
- Investing Principle #2 - Diversify
- Investing Principle #8 - Keep it Simple, Invest in What You Know
I disagree with your take on Firstrade’s customer service, which I feel is excellent. I also believe that Firstrade should definitely deserve a higher rating than Scottrade because Firstrade not only offers everything Scottrade does at a cheaper rate, but it also offers additional features such as DRIPs, which Scottrade doesn’t.
Comment by HappyT90 — July 10, 2008 @ 4:03 pm
Ameritrade Online Trading…
Thank you so much!…
Trackback by Ameritrade Online Trading — September 21, 2008 @ 6:10 pm