A brokerage account entitles you to transact business by buying and selling stocks.That is why a beginner investor should search for the best brokerage companies that can service his financial goals and aspirations. If you have the best brokerage accounts with full service brokerage firms, expect a stiff rate from them since they consider their financial advise and gurus as the top of the line in the industry. They spare no expense on their research teams whose job functions are to look for financial investments. With this kind of services, every time you trade through their company, you would be charged with a high commission rate.
They also offer other services besides stocks such as bonds, annuities, and insurance. Transacting with these full service brokerage firms means you need to invest a hefty sum with them otherwise you could just open a best brokerage account with the leading discount brokerage firms.
You can opt to look at the best discount brokerages and open accounts with them. Recently, they have offered range of services without raising their fees. Before their services are very limited but now they offer research materials, banking services, mutual funds, etc. There are a lot of best brokerage accounts that take into account the needs of the small investors.To give you a clearer idea, here are some firms that have been considered as the best brokerage account holders.
Fidelity ranks as one of the best brokerage accounts since it is among the brokers that offer a full range of financial services and they are geared for buy and hold investors. They are known for giving sound financial advise, top of the line trading tools and exceptional banking services. To open an account with them, you need to leave a minimum initial deposit of $2,500 and after that, they would just charge you $7.95 per online trade with no inactivity fees, handling or maintenance fees.
Another company that has high ranking for the best brokerage accounts is Charles Schwab. They also offer different services and they have lowered their charges and fees by simplifying their commission structure. They charge $8.95 per equity trade but they have a $1,000 required minimum deposit before you can start trading. Investors who want advice may contact someone via the website free of charge.
Among the upper echelons that is worth mentioning regarding best brokerage accounts is TD Ameritrade. OptionsXpress and Vanguard also garnered fabulous reviews.
