| How to compare online stock brokers yourself is a | | | | conduct an annual survey of online stock brokers |
| question many online traders ask themselves. But | | | | performance. Th survey lists rankings for basic and |
| first they should decide what kind of traders they | | | | discount brokers as well as full services brokers. |
| are or want to be before comparing online stock | | | | provides another annual survey although there is a |
| brokers. | | | | subscription fee to pay. |
| Before looking at which online stock broker to | | | | periodically reviews brokers but again a subscription |
| choose a trader should make a list of their financial | | | | fee is required. |
| objectives, the types of trading they are going to do | | | | You can also check out the disciplinary histories of |
| and what services they will need. An infrequent, | | | | the brokers via their regulatory bodies, FINRA in the |
| independent trader will probably best be served by a | | | | US and the FSA in the UK. Make sure you understand |
| discount broker. Someone requiring advice on their | | | | whether they have any potential bias or conflicts of |
| trading strategies will be better suited with a full | | | | interest, particularly if you intend to use their |
| service broker. | | | | research services. Above all, make sure they are fully |
| Whatever type of stock trader you are though you | | | | licensed. Dealing with an unlicensed broker will result in |
| are bound to look for independent advice when it | | | | you having little or no recourse should things go |
| comes picking your broker. I definitely recommend | | | | wrong. |
| you do so and the best place to start is with other | | | | Comparing online stock brokers is an important early |
| traders. Check out some trading forums, most have | | | | step for the online trader and should be given the |
| threads and comment already on this topic. | | | | same level of importance as when comparing stocks |
| If you prefer your advice a bit more 'official' you can | | | | to invest in. |
| also check out the following:- | | | | |