With so many brokerages out there, both physical and online, it is difficult these days to determine the best brokerage to use when you start investing. We decided to make it easier by giving you a rundown of our top 6 brokerages.
it has no set-up, maintenance or annual fees (unlike some other brokerage companies), its fee for each transaction is only $7.00, and it gives you access to individual stock reports from the rating agency Standard & Poors.
Personally, I prefer TD Ameritrade because it offers free dividend reinvestment for all stocks (Scottrade limits it to the FRIP program as shown below) and the free dollar-cost averaging for a large range of mutual/index funds.
Comparison of 6 Brokerages
|Dollar-Cost Averaging||Yes ($2 per trade)||Yes||Yes||Destiny||No||Yes (Most $4 per trade)|
Do you have a different favorite brokerage firm? Let us know in the comments!