Best online broker

TD Ameritrade

Pros
  • Online trade community
  • 126 local branch offices
  • Exellent educational resources
  • Paper trading account for self education
Cons
  • $9.99 per trade

Overview

TD Ameritrade , and particularly the ThinkOrSwim trading platform is hands down the most powerful trading platform available today, but, with all of the features, it can be a bit cumbersome to use, and I believe the charts look ugly, but if you take the time to learn about it’s features, it is really a pretty incredible piece of software. I personally use it to trade my own money, but especially for the ThinkorSwim paper account. It’s essentially a play account with play money that you can use to trade stocks or bonds with. The only drawback is that it is 20 minutes behind the market, so learning day trading on it is not really feasible, and sometimes even when you think you have made a profit, or bought at a good price (if you really are looking at what is going on real-time in the market), the 20 minute delay will lead to some disappointing paper trades. But never fear. While you can sign up for ThinkorSwim paper account for free, if you actually fund your real TD Ameritrade account with a minimum of $3500, they will make your paper account real-time.

This is in my opinion one of the most powerful training tools available in the stock world today. To be able to learn how to trade risk free with a $100,000 paper account is an extremely valuable resource that no other stock broker today provides. This is why TD Ameritrade is my pick for the top online broker. They are a solid company with an amazing platform, and a free paper account.

Steve White

Online Stock Broker Researcher

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