Online brokers are a simple solution for do-it-yourself investors who would rather manage their own portfolios than pay someone else to do it for them. These days, investors can buy and sell stocks and other assets on their own with the click of a button, and they can also avoid many of the costly commissions money managers charge. However, with dozens of online brokers out there, knowing what to look for is an important first step in choosing the right online broker. Here are eight things to consider when choosing an online broker.
- Research
The good news for today’s investors is that there has never been more information available about financial markets. The bad news is that tracking down useful, timely information can be difficult and/or expensive. Most online brokers provide some form of market research for free, including stock and ETF reports from reputable Wall Street firms. However, the quality and quantity of that research varies from broker to broker. Experienced investors may already have preferred third-party research sources that meet their needs. However, inexperienced investors need…
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