Best Discount Broker of 2015

TL;DR

Award-winning discount brokers for various investor types.

Transcript

Alison Southwick: A great deal of thanks goes to discount brokers who made it easier and cheaper for all of us to invest in the stock (pause) market. But they aren't all created equally. To present the Loofie for best discount broker, Dayana Yochim! Yay! Dayana Yochim: Alright. The nominees for beginning investors: Charles Schwab. This is like the ... Read More

Key Insights

• 😘 Charles Schwab offers a solid foundation for beginners with comprehensive resources and low fees.
• 🥶 Robinhood stands out for its free trading options, appealing to cost-conscious investors.
• 🤱 OptionsHouse caters to active traders with sophisticated tools and no inactivity fees.
• ⚾ Charles Schwab, Robinhood, and OptionsHouse each target different segments of investors based on their needs and preferences.
• 👋 OptionsHouse's recognition by NerdWallet as one of the best overall discount brokers for 2016 underscores its appeal and performance.
• 🧡 The diverse range of discount brokers mentioned highlights the importance of selecting a broker tailored to an individual investor's goals and trading style.

Questions & Answers

Q: What qualities make Charles Schwab a good choice for beginning investors?

Charles Schwab is renowned for its educational resources, low commissions, excellent customer service, and a wide range of commission-free ETFs and mutual funds, making it a safe bet for beginners entering the stock market.

Q: What unique features set Robinhood apart from other brokers?

Robinhood stands out for its completely free trading of over 5,000 equities and ETFs, making it an attractive option for budget-conscious investors. However, it does not support Roth IRAs and lacks extensive research tools.

Q: Why was OptionsHouse selected as the best discount broker for active traders?

OptionsHouse excels in catering to active traders with a robust trading platform, fast execution, and a range of investment options. Its merger with TradeMONSTER enhanced its capabilities, earning it recognition and praise for its performance.

Q: What key factors contribute to OptionsHouse's appeal to a wide range of investors?

OptionsHouse's accessibility, with no minimum account balance requirements and low trading fees of $4.95 per trade, make it an attractive choice for individuals looking to start investing immediately without breaking the bank.

Summary & Key Takeaways

• Charles Schwab: Reliable for beginners with educational content and low commissions.

• Robinhood: Ideal for budget investors with free trading of equities and ETFs.

• OptionsHouse: Perfect for active traders with sophisticated tools and no inactivity fees.