Posted by forex at 8:34 AM
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Instructions On Rating Online Brokerages
1. Compare the commissions charged by each online brokerage firm. See how much you have to trade in order to get the best commission rates. Also check to to see if the lowest rates are only good for a period of time.
2. Decide how much research you will need or if you can do your investment research on your own. Many online brokerage firms offer different levels of research and advice. The more research you will need the higher commissions you can expect to pay.
3. Look at the all the different products each online brokerage firm offers. Some will have more variety and other will specialize in a certain area such as option trading. Look for a firm which will have the best selection of products you will be investing in.
4. Examine the level of customer service each firm has. Are you able to reach someone on the phone when you need assistance? Do they respond promptly to email questions? Decide on the acceptable level of customer service you will need.
5. Look at the banking services each online brokerage offers. Many online brokerage firms will offer banking services such as credit card and ATM cards. Of course these services comes with an additional cost so determine if you need these services and are willing to pay for it.