The Best Stockbrokers - What Do They Have In Common?

For both novice and veteran stock investors and traders

, the stock broker plays a very crucial role in the moneymaking venture. After all, the speed with which your stock broker carries out your order for execution or the way your accounts are managed by full service stock brokers can mean the difference between losing and profiting on the market trends.

It is very important to find the best stock broker for your needs. Take note that the emphasis is on the best for your needs precisely because your investment and trading goals, objectives and strategies are as unique as your personality. There are certain criteria that can serve your ends well. These points to consider can be applied no matter your goals, objectives and strategies.

First, your stockbroker should charge brokerage rates and accounts within your budget. You do not want to pay for charges that take out a big fraction of whatever profits are obtained from a single trade.

Second, one of the most important criteria of choosing the best stock broker is that he should provide easy access through phone and he must give easy access to your own money. For one thing, you want to be protected from Internet shutdowns so phone access must be present at all times. For another thing, you want options to access your money accounts preferably as a linked account.

Third, you must look at the extra benefits offered by the stock broker. Look at free reports, free bonuses and free brokerage fees, to name a few extras. The following are five of the best brokers as ranked by both brokers and consumers:

* ThinkOrSwim is consistently rated as the number one online stockbroker in 2009 and 2010 by Barron's for good reasons. You are provided with 24/7 customer support, flexible commission plans, useful educational tools and the opportunity to try out the trading platform for free.

* Etrade is also ranked number one in 2009 although by SmartMoney. With its Mobile Pro service, you can trade anywhere and anytime using an iPhone or a BlackBerry.

* TradeKing offers a big community of over 150,000 investors sharing trade research, ideas and analysis, which is very useful for both first-time and veteran traders.

* Scottrade provides for a flat fee of $7 for all trades as well as premium trading tools. When it comes to customer loyalty, Scottrade is number one in many books.

* Zecco is one of the best brokers when it comes to offering discount trades.

by: Mike Singh

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