Online stock trading can be an exciting and profitable hobby. Sitting in front of your screen, watching all the action in real-time, buying and selling stocks with the push of a button. With the right broker this dream becomes reality for little monthly costs.
We are all dreaming of making a fortune quickly with no work at all. The stock market always had this fascination to many of us. Today it is possible to buy and sell stocks within seconds. Stock trading has become fully electronic and the stock exchange is just an Internet connection away.
Twenty years ago you had to have a big pocket and a phone broker to place a trade. You did call your broker and you were lucky to get the shares the same day. Today you can sit on your computer and for less than a few bucks a month you have real-time access to all relevant information and order routing options.
There are so many online brokers today that choosing one has become a true challenge. Here are a few tips:
1. Choose an online broker who is in the game since three years or more already. You do not want to beta test a buggy new trading platform.
2. Go with an discount broker if you want to trade from home and make your own investment decisions. Going with a full service broker is a waste of money if you do not need advice.
3. If you want to place more than five trades a day then pick a day trading broker who offers direct access trading platforms at reasonable costs (less than $100 a month)
4. Check if the broker offers a good phone backup service. If the platform goes down you need to easily reach the broker by phone. Test the phone service first when the market is very active.
5. If you plan to go short (and you should), choose a broker who has a big shorting list. There is nothing more annoying when you want to short a stock but your broker does not have it available.
Online Stock Brokers
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