Investment Brokerage Firms That You Should Consider

With each passing day, the number of options available for investors is increasing exponentially, when it comes to brokerage firms. Small and large brokers, new entrants or old dogs, everyone has an opportunity to choose from a wide variety of investment companies which could meet all their needs and requirements. However, given the extremely competitive market environment, it is the responsibility of the brokerage firms to be able to maximize profits while also cutting down costs wherever possible. In this race of firms, the most chosen firms that a large population stands by are as follows:

  • TD Ameritrade:

A charge of about $6.95 is placed on the trading stocks and ETF. This company is known to offer more than 100 commission-free ETFs from about 13 different providers. Investors are offered both government and corporate debt access. Trade can be placed by the automated phone system at $34.99 and with the help of a live broker at $44.99. An extra of 0.75$ is charged for options, per contract.

  • Ally Invest:

This company formerly known as TradeKing is known to charge about $4.95 per trade on stocks. An extra of $0.65 is charged for options per each contract. The company has introduced lower commissions for active traders and investors with a high net worth. On making either 30 or more trades in the prior quarter of the calendar or maintaining a daily average balance of over $100,000 in the prior calendar quarter, the customer can avail a stock trade at only $3.95. The company also does not charge for automated phone trades, unlike other companies.

  • Firstrade:

The pricing commission of stock and ETF was recently lowered to $2.95 from $4.95. An extra of only 50 cents is charged for options, per each contract. Mutual funds with loads are free to purchase, while $9.95 is charged for no-loads fund per each transaction. Depending on the type of product, an extra fee is charged to avail the option of placing a trade with the help of a live representative.

Leave a Reply

Your email address will not be published. Required fields are marked *