Discount Options Brokers: My Two Favorites
Let me preface this article by saying that people look for different things when it comes to choosing a discount options broker.
Some people want a broker that offers superior customer service, and they usually don't mind paying a bit extra in commissions to get it.
Some people want a stable and reliable platform that is extremely customizable.
Some people are primarily interested in low commission costs and fees.
Here are my two favorite discount options brokers, accompanied by some commentary on each company:
OptionsXpress - This company does many things right. I enjoy their trading platform and my experience with them from a customer service standpoint has been positive so far.
They allow you the opportunity to test out their software before actually committing to opening an account.
Their account opening and funding process is extremely streamlined, and you will be up and running in no time if you decide to open an account with them.
OptionsXpress is a publicly traded company that has been in business for years.
The only downside to OptionsXpress? Their commissions tend to be a bit high compared to the competition.
Click Here To Open An Account at OptionsXpress
ThinkorSwim - I really like ThinkorSwim, however I am a bit worried about their impending merger with Ameritrade.
Will the ThinkorSwim that I know (and love) cease to exist?
Will Ameritrade ruin the things that I love about ThinkorSwim?
I loved Thinkorswim as an independent entity, however I am hesitant to recommend them just before they hop into the waiting arms of Ameritrade.
Great trading platforms have been ruined and obliterated into the past after being acquired by larger companies - will the same happen here?
Let me tell you what I love about Thinkorswim - competitive commissions, an extremely helpful and knowledgeable customer service staff, a great trading platform and a management that actually listens to their customers.
In its current form, I love Thinkorswim. Will this change going forward? I don't know.
Click here to Open an Account at Thinkorswim
Filed under: Company Reviews