The first step in online stock trading is to pick the IC Markets Review online stock broker for your money. It’s very important because once you signed up with your online stockbroker, you will most likely stay for years to come. So picking the right online stock broker is crucial to stock investing success.
7 angles you must look at:
Brokerage rates: The rates you are charged for buying and selling stocks in your online account. And how much they charge you are based on a sliding scale. The more units you trade the less “cost-per-unit” you will have to pay. Choose the one that suits your buying and selling approach.
Account fees: Make sure to read the terms and conditions page. Sometimes they will charge you hidden fees that you don’t know about until you find out you’re charged $20 when you transfer your money out. All the fees should be disclosed, choose the one that doesn’t hide fees from you.
Alternative access to your account: This is vitally important because online stock broker website could go down for hours in peak business time. You must have an alternative way to access your account like phone access, or local offices.
Discount broker: Don’t compromise stock broker quality over low prices. Some discount brokers don’t offer trading advices, so for beginners, go for full-service brokers.
Site usability: You will be using your broker’s website a lot. It’s very important that you feel comfortable navigating your online account. If it’s confusing for you, you might make critical mistakes that you lose your money. Pick the one with better site navigation.
Site performance: The sites must be able to load fast during peak hours with minimal downtimes. Go to the sites during business hours to see if it performs well. Choose the one that’s faster.
Reputation: It’s usually always the safe bet to go for online trading services with big names. Because of its high reputation, you will less likely to be scammed. Pick the online broker that is credited by several online stock broker reviews.