AUG 30: Online Stock Trading Account

by David Jenyns on August 30, 2006

Making an online stock trading account may be a good idea because you will not only have access to the market but you will benefit of other services that could help you increase your profits.

Scottrade

Scottrade offers one flat rate for online market AND limit orders no matter what the trade frequency, the number of transaction shares or account balance happen to be. Stocks under $1 are just $7 plus 1/2% of principal. Also, you can link together all the account you have with them so when you login into one account you can view the details of all.

You will enjoy real-time account balance updates that will allow you to know your cash balance, purchasing power and margin balance immediately following a trade.

Complementary Dow Jones News is also included with our online stock trading account which provides high-quality, extensive coverage of companies, events and market, and includes company announcements, stock market news, economic indicators, international, regional and industry news and credit market news. The deposit to open an account is $500 ($2,000 for a margin account).

You will not have to pay termination fees, setup fees or annual fees and to help plan your financial future you can choose from 850 no-transaction fee mutual funds.

For the active trader, Scottrade provides an advanced trading platform which includes advanced charting, streaming Nasdaq Level II quotes, integrated online stock trading account management tools and integrated trading tools for options and stocks.

NobleTrading

This company offers online trading, day trading and direct access trading services for navigating today’s fast-moving stock markets. They are offering you five different trading software platforms that include The Shield, E-Signal, RealTick and the NobleTrader Level2 platform. You can choose to route your orders through Archipelago, INET, the NYSE DOT System, SuperMontage or you can let their software to route your orders.

TurboTrade

They offer to institutional traders offshore accounts including offshore mutual funds, offshore hedge funds, offshore banks, offshore brokerages and offshore brokers. Also, with their TurboTrader software, traditional online investors and active traders can directly execute orders to the exchanges and ECN’s. They provide the best price and executions because they use smart order routing technology.

Tips to Protect Your Online Stock Trading Account

First, never share your password information, and try to create passwords that are counterintuitive and unpredictable. For different accounts, don’t use the same password and you should change it regularly. Avoid accessing you account from other computer besides your own and beware when using public computers.

Be very careful with the security of your online stock trading account – if compromised it could be as severe (or worse) than handing someone your credit card information.

Also, take your time to choose the right stock trading service – the money is not always the issue here as sometimes the real value is in the account services you receive, which may help you make a lot more money!

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