2008 Online Brokerage Rankings

Welcome to my 2008 Online Broker Ratings. All of the major online brokerages are ranked across 6 categories; Overall Trading Experience, Web Site Functionality, Trading Costs and Fees, Customer Service, Research & Investing Tools and Perks. There is also a detailed review link for each if you want to read an article that summarizes all of my findings about your favorite brokerage.

Why in the world would I put so much time and energy into this article? I was looking for a new brokerage. Sadly, all of my research convinced me to stick with my current broker which made this an exercise in futility. However, I gathered a TON of information so hopefully this will help you if you’re currently looking for a great online brokerage or trying to avoid a bad one. Enjoy!
~ Odd

Link to In-Depth Review Specialty Overall Trading Experience Rank Web Site Function-ality Rank Trading Costs and Fees Rank Customer Service Rank Research/ Investing Tools Rank Perks Rank
Ameritrade Inexpensive trading combined with the most powerful Research & Investing Tools in the Industry. 3 6 3 4 1 6
E*Trade The first to offer Global Trading. Buy foreign stocks on foreign exchanges with foreign currency. 5 7 4 5 5 4
Fidelity Best overall trading experience in the industry. Groundbreaking trading tools like Wealth-Lab Pro. 1 3 7 2 2 2
Firstrade Best value. Lowest trading expenses in the industry among all brokers that offer a full line of products. 7 5 1 8 9 8
Merrill Lynch Direct All clients have access to market leading global research. Be the first to learn about new emerging markets. 10 10 11 10 7 7
OptionsXpress Best Options site on the web plus a full suite of products. Great prices, education resources and trading tools. 4 1 5 9 3 3
Schwab.com More no-fee no-load funds than any competitor. Mutual Fund traders can basically trade for free at Schwab. 2 2 6* 1 4 5
Scottrade Scottrade offers an exceptional training and trading experience for new online investors at deeply discounted prices. 6 4 2 3 8 10
SoGoTrade At $1.50 per trade, SoGoTrade offers the lowest stock trading prices in the industry. 9 8 9* 6 10 9
Vanguard Vanguard rewards loyalty like no other. Long-Standing account holders gain access to ultra-low cost Admiral Shares. 8 9 10 7 6 1
Zecco Trading 10 Free Trades per month and a growing social community. Participate in forums or create your own Zecco Blog. 11 11 8* 11 11 11

 

 

 

 

 

 

 

 

 

 

 

 

 

 

* Schwab was awarded a bonus in the Trading Costs category for having the most No-Fee & No-Load Mutual Funds available
* SoGoTrade was penalized in the expense category for not offering any Mutual Funds, Options, Bonds, Treasuries or CDs
* Zecco was penalized in the expense category for charging for basic services such as Charts ($5 per mo), Stock Screeners ($5 per mo), and Streaming Quotes ($8 per mo)

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