Ten Things to Look for in an Online Brokerage

Choosing the right online brokerage for your investments is just as important as choosing the correct stocks to invest in. If you want a broker you can count on, look for the following features and services before creating a new account. 1. Excellent Customer ServicernA great customer service department is perhaps the most important quality that any online brokerage can offer. Your broker should have a staff that is readily available, knowledgeable and eager to help. Look for companies that offer live online help or a phone line with extended hours. You'll have a better trading experience when you work with a broker that is dedicated to keeping you satisfied. 2. Affordable Stock, Option and Mutual Fund TradesrnIt's also important to choose an online broker with competitive pricing on stock, option and mutual fund trades. With lower rates on trades, you can buy and sell more often without spending a fortune. The company you choose should have a plan that meets your budget while also offering you value for your money. 3. Flexibility and ControlrnOne of the greatest benefits of working with an online broker is that you have greater flexibility and control over your investments. Your broker should offer a system that makes it easy for you to manage your stocks and receive updates on their performance. Of course, a high-quality broker will also be able to offer you assistance along the way when you run into questions. Choose a broker that gives you control without being distant. 4. Additional Banking OptionsrnIf you want to simplify your finances, you can look for a broker that offers combined banking options. Many online brokers offer debit cards, checking accounts and online bill-pay systems that allow you to manage all your finances from one place. This is a good way to save time and money without expending any additional effort. 5. On the Go Account ManagementrnWhen you invest with an online brokerage, you should be able to monitor your stocks easily from anywhere. Some of the best online brokers offer mobile applications and automatic email updates that make it extremely simple to keep track of your stock performance no matter where you are. 6. Introductory OffersrnBefore choosing a broker, be sure to look for any special introductory offers that might be available. Some businesses feature a number of initial free stock trades or free money transfers. You could be eligible for some of these special savings, so be sure to do your research before opening an account. 7. Convenient Stock TrackingrnWhen you're trading through an online broker, you should be able to receive the latest updates and most current information about the market and stock prices. Find a broker that is connected with all the major markets and that prominently displays information in an easy-to-read format. 8. Reliable ReputationrnAs you make your decision, it might be helpful to look for reviews and opinions from other customers. You'll feel more comfortable trusting an online brokerage with a reputation for continued service. A reputable company will also insure your money, providing you greater peace of mind as you trade. 9. Resources, Tips and ToolsrnWhether you've been trading for three weeks or three years, you can always benefit from expert tips and tools. Many online brokers offer extensive educational resources that help you solve problems and keep you informed as you trade. Quality companies have experience in the stock market and can offer their expertise whenever you have questions. 10. Easy-to-Use SystemrnFinally, your online brokerage should have an intuitive system that makes it easy for you to find information right away. With a simple navigation and well-developed user interface, you'll be able to track your stocks and manage your account quickly in just a few clicks. Because it saves you time, energy and money, an efficient system is a true mark of a quality broker.