Many who are new to the world of stock trading often ask: what is the best stock trading site?
There are probably a thousand sites out there promoting that they are the best, however only a handful will actually deliver what you really need.
The elements that make up the best stock trading site for a beginner are:
• Low-cost brokerage in operations
• Experienced traders offering insight into market conditions in blogs and posts.
• Easy to understand instructions on how to trade through the site
• Clean navigation that is easy to follow
• Easy-to-use market analysis tools that a beginner can quickly master
Many stock trading sites will charge a monthly subscription fee. The best stock trading site that provides the tools and advice you need to learn your own trading will ensure that this is a sound investment.
Having access to the best online trading courses where experienced traders offer their wisdom and experience is another item to look for. Learning from an experienced trader is probably the best investment of your time and in some cases money you could earn.
If you follow the forums, blog sites, and talk pages where passionate traders share their thoughts, you’ll see a pattern of recommendations. I visited a few and the most common sites that came up were:
1. Scottish
2. OptionsXpress
3. Advantageous trade
4. Financial electronic commerce
5. Trade
6. Fidelity
7. Carlos Schwab
8.TD Ameritrade
9. Home Options
10. First degree
These sites are often said to offer good value for money on transactions, great tools that you can access, and forums where experienced traders share their knowledge.
Other services offered through these sites include:
• Good support and customer service
• No account maintenance fees (except Fidelity and E*Trade Financial)
• Mobile tools (except Firstrade) so you can monitor your trades on the go
• Free phone support
• Email support – so you can get written instructions and refer back to them if needed.
If you are just starting out and just understanding how the market works, then the best stock trading site for you would be:
• CNN Business Pages
•Wall Street Journal
• Forbes business pages
These are great free sources of market information where you can start to understand what influences prices, who influences market sentiment, and start monitoring how the media influences a stock’s price.
The best stock trading site comes down to several factors, many of them personal. The sites I have mentioned above are simply a small sampling of the best stock trading sites right now. The sites listed above have a long history and are well established as leaders in this space.
Always read the terms and conditions of a site. Pay close attention to the brokerage’s fee structure and commissions charged, and try some with a demo account. Several of these sites will offer a free introductory period, or a series of free brokerage trades when you first sign up.
Above all: do your own research. The best investment when it comes to stock trading is actually in research and your own education. Make sure you make solid investments in both before executing your first trade.