Barron's Ranks On-line Brokers

GDFLS · 03-04-2006, 04:47 PM

I know a lot of threads get started about what broker to use and which is better and so on.

Well in the March 6, 2006 issue of Barron's there is a great spread of all the top online brokers and they evaluate and rank them. They have nice charts showing what each provide and the costs.

I would say it is worth picking up if you are looking into picking an online broker or want to compare others with your current one, its a pretty good read.

mhertz · 03-04-2006, 08:53 PM

would you care to briefly share with us?

GDFLS · 03-04-2006, 09:21 PM

Lets see if I can break out a few of the highlights. All are based on a 5 star ranking.

Best web Based Systems

OptionsExpress 4.5 stars
thinkorswim 4.5
Muriel Siebert & Co 4.0
Ameritrade Apex 4.0
Fidelity Investmets 4.0
E Trade Serious Investor 4.0
TD Waterhouse Trade Central 4.0
Scottrade 4.0
TradeKing 3.5
Schwab 3.5
Ameritrade Izone 3.5
Wall Street Elecronica 3.5
TD Waterhouse 3.0
Firsttrade 3.0

Software based Systems

MB Trading 4.5
thinkorswim 4.5
Trade Station 4.5
Interactive brokers 4.5
Terra Nova Trading 4.0
Rush Trade 4.0
Choice Trade 4.0
Fidelity Active Trader 4.0
Prefered Trade 4.0
Cybertrader 3.5
E TRade - Power E Trade 3.5
Scottrade Elite 3.5
AB Waterley 3.0

Looks like they, the 400 people who tested the systems, really like thinkorswim, great customer service as well, when you call you get a human on the phone within a few rings and if you go to chat help someone helps you within 15 seconds.
Looks like thinkorswim charges 7.50 market or limit and 12.95 for options and no account maintenance fees. they also have smart order and customer direct routing. I have never heard of them but may check it out.

Hope this helps a little bit, there is a lot of info in there

InvestingMoron · 03-04-2006, 09:44 PM

I notice ShareBuilder isn't on there. Must have earned a negative mark!

mhertz · 03-04-2006, 10:03 PM

i just transferred my ameritrade to optionsxpress -- should begin trading with optionsxpress later this week. i heard lots of good comments about them (including from cramer).

GDFLS · 03-04-2006, 10:44 PM

I didn't see Sharebuilder mention, that must not have been tested.

Let us know how you like optionsexpress, I was thinking of switching from Scottrade. While I like Scottrade they denied my application to trade options LOL and I would hve done so wel if I could have purchased SLW options!

the_menace · 03-05-2006, 12:01 AM

Quote:

Originally Posted by GDFLS

Looks like thinkorswim charges 7.50 market or limit and 12.95 for options and no account maintenance fees. they also have smart order and customer direct routing...

Coming from their website...
http://www.thinkorswim.com/tos/displ...AndCommissions

Flat Fee Trading** - $9.95 per trade (market or limit orders; 5,000 shares maximum)

But check out their promotions...
https://www.thinkorswim.com/tos/myAc...Promotions.tos

Its funny that optionsxpress didn't mention Scottrade for comparison cause they got beat..
http://www.optionsxpress.com/welcome...spx?sessionid=

GDFLS · 03-05-2006, 12:13 AM

Thanks for the links! I wonder where Barron's came up with that price for thinkorswim...and I ay just stick with Scottrade, they work OK for me and the pricing is good.

Did I read right, thinkorswim has a 5000 share limit? Would't be able to do some of the penny plays if that is the case!

the_menace · 03-05-2006, 12:24 AM

Quote:

Originally Posted by GDFLS

Did I read right, thinkorswim has a 5000 share limit? Would't be able to do some of the penny plays if that is the case!

Anytime there's a share limit, I kinda see it as a future potential problem. Unless thinkorswim has a high-end system worth switching for, Scottrade is good enough.

03-04-2006, 04:47 PM	#1
GDFLS valued contributor weekly challenge winner Join Date: Jan 2006 Location: Philadelphia, PA Posts: 494	Barron's Ranks On-line Brokers I know a lot of threads get started about what broker to use and which is better and so on. Well in the March 6, 2006 issue of Barron's there is a great spread of all the top online brokers and they evaluate and rank them. They have nice charts showing what each provide and the costs. I would say it is worth picking up if you are looking into picking an online broker or want to compare others with your current one, its a pretty good read. __________________ Eric "Please pack your knives and go."

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03-04-2006, 08:53 PM	#2
mhertz valued contributor Join Date: Oct 2005 Posts: 632	would you care to briefly share with us?

03-04-2006, 09:21 PM	#3
GDFLS valued contributor weekly challenge winner Join Date: Jan 2006 Location: Philadelphia, PA Posts: 494	Lets see if I can break out a few of the highlights. All are based on a 5 star ranking. Best web Based Systems OptionsExpress 4.5 stars thinkorswim 4.5 Muriel Siebert & Co 4.0 Ameritrade Apex 4.0 Fidelity Investmets 4.0 E Trade Serious Investor 4.0 TD Waterhouse Trade Central 4.0 Scottrade 4.0 TradeKing 3.5 Schwab 3.5 Ameritrade Izone 3.5 Wall Street Elecronica 3.5 TD Waterhouse 3.0 Firsttrade 3.0 Software based Systems MB Trading 4.5 thinkorswim 4.5 Trade Station 4.5 Interactive brokers 4.5 Terra Nova Trading 4.0 Rush Trade 4.0 Choice Trade 4.0 Fidelity Active Trader 4.0 Prefered Trade 4.0 Cybertrader 3.5 E TRade - Power E Trade 3.5 Scottrade Elite 3.5 AB Waterley 3.0 Looks like they, the 400 people who tested the systems, really like thinkorswim, great customer service as well, when you call you get a human on the phone within a few rings and if you go to chat help someone helps you within 15 seconds. Looks like thinkorswim charges 7.50 market or limit and 12.95 for options and no account maintenance fees. they also have smart order and customer direct routing. I have never heard of them but may check it out. Hope this helps a little bit, there is a lot of info in there

03-04-2006, 09:44 PM	#4
InvestingMoron valued contributor weekly challenge winner 2x Join Date: Jan 2006 Location: CSA Posts: 629	I notice ShareBuilder isn't on there. Must have earned a negative mark!

03-04-2006, 10:03 PM	#5
mhertz valued contributor Join Date: Oct 2005 Posts: 632	i just transferred my ameritrade to optionsxpress -- should begin trading with optionsxpress later this week. i heard lots of good comments about them (including from cramer).

03-04-2006, 10:44 PM	#6
GDFLS valued contributor weekly challenge winner Join Date: Jan 2006 Location: Philadelphia, PA Posts: 494	I didn't see Sharebuilder mention, that must not have been tested. Let us know how you like optionsexpress, I was thinking of switching from Scottrade. While I like Scottrade they denied my application to trade options LOL and I would hve done so wel if I could have purchased SLW options!

03-05-2006, 12:13 AM	#8
GDFLS valued contributor weekly challenge winner Join Date: Jan 2006 Location: Philadelphia, PA Posts: 494	Thanks for the links! I wonder where Barron's came up with that price for thinkorswim...and I ay just stick with Scottrade, they work OK for me and the pricing is good. Did I read right, thinkorswim has a 5000 share limit? Would't be able to do some of the penny plays if that is the case!