Posted by forex at 12:46 AM
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1. Evaluate the commission structure. Most online brokerages charge a "per trade" transaction fee. If you're going to trade a lot, choose a brokerage firm that charges less per trade. Check for extra fees as well; the best online firms won't charge you for maintenance, inactivity or order handling.
2. Compare the features that each brokerage offers. You're going to be researching yourself, so make sure the brokerage firm offers quality investing tools and information. If you have a smartphone, check to see if the firm offers free apps. Make sure you're getting the most out of your investment dollar.
3. Check to see if a minimum balance is needed to open an account. Some brokerages require you to deposit a sum of money into your account before you can begin trading. This can be as high as $2,500. Investing is a risk, so make sure you can afford to lose the minimum balance amount (at least) before you open an account.
4. Read user reviews and make sure your broker offers quality service and customer support. Some brokerages are online-only, so you won't be able to get in-person investment advice. A simple Internet search should tell you all you need to know about your chosen brokerage.