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Discount Broker Rating Reviews

While there is general agreement on the top discount broker ratings, the following discount brokers were identified by either the 2010 SmartMoney review or the 2011 Barron's review.

Since the offerings are not consistent across all platforms, it will require some analysis on your part to see if they are adequate for your needs. Just because they do not meet the needs of Barrons or SmartMoney doesn't mean they wouldn't work for you.

In alphabetical order, additional discount brokers are:

• Bank of America: Trading costs are tied to deposits. Reviewed by SmartMoney.
• Firstrade: Site offers screeners and reasonable fees. Chinese language versions of the site are available.
• Just2Trade: Looks like the lowest cost per trade of the group. Stock screener focus is technical, not fundamental.
• Muriel Siebert: Not sure why this would be worth US $14.95 per trade but clearly some people feel it is.
• optionsXpress: As the name suggests, their strength is options. In April 2011, they announced a merger with Charles Schwab. I have been satisfied with this broker and look forward to seeing what the merger brings to the table.
• ShareBuilder: An offering of Ing Direct. Primarily a way to build a portfolio over time with incremental investments and purchases.
• SoGoTrade: Low cost broker with free screener. We were able to create a version of the Tiny Titans screen and save it with the guest login. Chinese language versions of the site are available.
• USAA: This is a comprehensive organization offering discount services to current and former members of the US Armed Services. The standard rates are competitive and can be lowered with some trading activity (25 trades per rolling 90 day period).
• WellsTrade: Part of Wells Fargo banking. Their description of their commission structure is probably why some many online brokers thrive. Simple it is not.
• Zecco: Low cost broker. A free screener is available even if you do not have an account.

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