2011 Broker Bowl |
Investing - Investing Articles | |||
Written by Hugh McManus | |||
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2011 BROKER BOWLThe discount brokerage landscape has been surveyed for the past four or so years. Each December, on New Year's Eve, a new national champion is crowned. The award is given to the broker that provides the best value for the long-term investor; which means, it's the broker that has the lowest, overall transaction cost. Here's a line-up of the National Champions. 2011 Lightspeed Trading Here are the standings for 2012; these results are current as of January 31.
Lightspeed Trading dropped out of the top spot after it announced an increase in its commission rate of $1 per trade to $3, giving it a rate on par with eOption and SoGoTrade. The tie among eOption, Lightspeed and SoGoTrade was broken based on the ease of use of the website and the fee for options. OptionsHouse and Marsco round out the top six with its flat rate of $3.95. TradeKing, Zecco and MB Trading all offer a flat-rate commission at $4.95. The companies were ordered using the same criteria described above. Scottrade rounds out the top ten. *While Zecco offers a commission rate which is competitive with many other shallow discount brokers, there appear to be recurring instabilities in the trading platform. Zecco is a D rather than C rated broker as a result of these problems.
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