The search for the right broker can be a confusing one for many traders. How do you make the right decision? Where do you begin? And what dimensions should you factor into your considerations?
The place where most traders begin is to investigate the price. A quick exploration quickly reveals that price varies with the volume of transactions and some brokers charge fees if account minimums are not met, others charge obscure fees based on wire transfers and inactivity among other things.
Soon after delving into the price comparison features of brokers, a next important consideration is to investigate execution speeds. Some brokers will have very simple user navigation platforms while others will have extensive tools that can be customized to perform specific scans and alerts.
Depending on how scientific you are, you will find a depth and breadth of tools that will seem empowering or intimidating. So where do you begin? A great resource for comparing brokers is a website called www.TradeComparison.com
There, you can easily perform price comparisons for a wide range of options. For example, you can quickly scan for optimal priced brokers depending on whether you typically trade ten, one hundred or ten thousand shares! And for options traders, an easy price comparison exists depending on whether single-leg or multi-leg contracts are traded based on volumes of 10 contracts, 50 contracts or as many as 1,000 contracts.
The Price Comparison section provides an easy to understand visual display to compare brokers and instantly conveys to you, the trader, the value proposition offered by a wide range of brokers. So, if you’ve been confused in the past, this tool offers you a helpful resource that you can use to instantly compare brokers, and fast-track your decision-making process.
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