Online Brokerage Reviews

Online Trading has reached to new levels in the past few years with many people switching over from full-service brokers to discount online brokers to manage or build their portfolio. The benefits of online brokerages are notable: less fees, more control, faster execution, and personal observance. In addition to being able to control your portfolio, online brokerages allow oneself to trade wherever internet is available.

The following are the top five online brokerages found online and who should use them.

1. OptionsXpress

Options is the best discount online brokerage found online. It has all the tools needed from the beginning to advanced trader, including beginning investing guides to detailed scalping techniques.

OptionsXpress trades all investment products from stocks to ETF's and Futures. However, it does not deal with the Forex exchange. In addition, OptionsXpress includes software for active traders similar to that of eTrades's active trading software.

More:

• No Minimum Balance
• No account maintenance fee
• Rated #1 by Barron

2. eTtrade

eTrade is one of the best online brokerages found online. They are the most famous and most advertised brokerage on television and deliver what they promise. Moreover, eTrade offers a one stop shop for all your investment needs and offers education on almost every topic including investing, retirement accounts, and active trading.

Its active trading platform is similar to that of OptionsXpress but its customer service is something not to boast about.

• Minimum Balance: $500
• Monthly Service Charge

3. Scottrade

As a leading online brokerage firm, Scottrade offers a full line of investment products, online trading platforms and market research tools to help investors take control of their financial future. They offer $7 dollar trades, software, and training to all its customers. It is one of the nations premier trading companies and has a long and reliable reputation. In addition, Scottrade has mobile banking, active trading, and Market Level II quotes as well.

• Minimum Balance $500
• More than 400 branches

4. Think or Swim

Think or Swim, formed in 1999, offers expert an expert trading platform and a very simple to use website. It has been rated #1 by Baron's and is geared to those who trade options frequently. They offer powerful software and is a top choice for any investor.

Visit their website to learn more.

5. Trade Station

TradeStation combines the ability to create, test and automate or manually execute custom trading strategies with the speed of direct-access execution to major ECNs, exchanges and electronic futures markets.

This unique combination of advanced technology and award-winning brokerage services provides serious traders with a complete, seamlessly integrated trading solution.

No matter which markets you trade—stocks, options, futures or forex—TradeStation lets you trade by the only rules that matter: your rules.

Tradestation's Platform:

Whether you trade stocks, options, futures or Forex, TradeStation offers uniquely powerful strategy creation and testing tools, customizable analytics and fully automated trading technology in a single trading platform. With TradeStation, one can:

• Create an unlimited number of custom trading strategies
• Back-test and optimize your strategies before you trade, using the industry’s largest and most extensive historical market
• Monitor multiple markets and automatically execute your trading strategies based on your own custom buy and sell rules.

This is highly recommend if you are an active trader with more than $5,000 ready to invest.