If you hope to invest online, you will require an online broker.
Traditionally, you may think of a broker as a person on Wall Street who will place your order for your chosen stocks or index funds you wish to invest in.
This method of taking orders is dying out, but the traditional route is still available if you want to go.
Folioinvesting offers a variety of pricing plans so that investors can choose which one works best.
Folioinvesting provides a basic plan that lets you trade stocks for a low price of four dollars as long as you’re okay if the trades are executed right away.
Instead, during two windows during the day, if you like your trades to go through right away, you will be charged $10.
You also pay a $15 maintenance fee per quarter if you place less than three trades in the quarter.
If you spend $290 a year subscription fee, you get free delay trades and a discount of three dollars to have trades go through right away.
RobinHood offers the ultimate lure-free commissions.
It differs from other brokerages in that it focuses entirely on mobile devices.
Instead of providing a website for investors to log into and place trades, Robin Hood focuses on apps for smartphones and tablets.
You won’t find the rich data services available on the websites of other brokerages, but you won’t be paying for them either.
SogoTrade $4.88 a trade is appealing not just for the low price; if you plan to be a serious trader Sogo Trade lets you download software to your computer similar to that provided by more expensive online brokers, which helps you track the market daily movements.
You must open an account with at least $500, but you do not need to maintain a minimum balance in the future. The commission also drops to 3 dollars if you trade 150 times or more quarters.
Ally invests aims to give investors a few more bank-like niceties than other deep discounters, such as the ability to store cash balances in high-yield savings accounts.
Ally Invest also offers access to some company news and research reports and a straightforward flat fee commission of $4.95.
The brokerage is a capable complement to what was primarily an online bank but is most appealing to existing bank customers.
This broker isn’t for advanced traders.
No minimum account balance is required, but you’ll be charged a $50 a year fee if you have less than $2500 in your account and don’t trade at least once a year.