Making an online trading comparison is an important step for your success in the stock market. This is critical because finding the right broker or brokers is the same as finding a good business partner to work with. Here are a few things that are important when making your selection.
Transaction costs -- Although most brokers offer good discount trading accounts it's still a good idea to compare them to find the lowest possible commissions. This is especially critical for those who trade with a high frequency such as stock daytraders.
Online trading platform -- The learning curve and ease-of-use of your broker's platform is extremely important. It needs to have all the technical analysis tools that you need right there at your fingertips. The platform security and speed are also important considerations.
Minimum account size -- To make certain that you are comparing apples to apples it's important to look at the various brokers based upon the amount of money you will use to open your account. It is possible that some "special commission rates" may only be available to customers at a certain level of account balance.
Customer service -- You will definitely need a broker that offers exceptional customer service. You can search the Web for customer reviews. When looking for reviews please keep in mind that you may find reviews from several biased angles. Some glowing reviews may be from those who are actually promoting the broker services. There may be other negative reviews from customers who were simply unhappy with their own trading results which may have nothing to do with the stockbroker.
Keep in mind that you don't have to select just one broker. When doing your online trading comparison you can select the top two and open accounts with both of them if your available capital permits this. Remember that you don't have to rush into this and that you can take your time and properly research several choices.
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