Best Reviews TopConsumerReviews.com Best Online Stock Brokers Best Reviews
Best Reviews
      July 4, 2020

Home  >  Online Stock Brokers  >  Firstrade vs Speedtrader

Best Online

Stock Brokers

  1. Firstrade
  2. Fidelity
  3. Charles Schwab
  4. E Trade
  5. Merrill Edge
  6. Trade Station
  7. Speedtrader
  8. Robinhood
  9. Sogo Trade

Your Information Is Secure
7 Ways to Lose Money in the Stock Market Newsletter

Compare Products

  • Select any 2 companies in our reviews to compare them head-to-head!

Latest Reviews

Credit Counseling

Feather Pillows

GMAT Test Prep

GRE Test Prep

Homeschool Supplies

Investment Newsletters

LSAT Test Prep

MCAT Test Prep

Senior Care

Thyroid Health

 

Individual Reviews

TD Ameritrade

Firstrade

Fidelity

Charles Schwab

E Trade

Merrill Edge

Trade Station

Speedtrader

Robinhood

Sogo Trade

 

Our professional reviewers evaluate products and services independently, but Top Consumer Reviews may earn money when you click on the links on our pages. Learn more.

Better Business Bureau Reliability Seal

Firstrade vs Speedtrader

Best Online Stock Brokers

To help you find the Best Online Stock Brokers, TopConsumerReviews.com provides you with an in-depth comparison of Firstrade and Speedtrader.

To see ALL of our reviews for the Best Online Stock Brokers, please Click Here

Who is the Best Online Stock Broker? Whether you consider yourself an avid investor or a beginner just starting to look into the stock market, it's easy to get overwhelmed by all of the stock trading options. Although some people still use traditional stock brokers, many people have found they can save a lot of money by trading stocks themselves.

Besides significant cost savings, another great advantage to executing your own transactions is that you can avoid the time and energy necessary to deal with "professional" stock brokers. Many of these individuals try to convince you to buy or sell stocks, because they earn a commission every time you make a transaction. With online stock brokers, you never have to talk to any salesmen.

Continue reading below reviews

Best Reviews

2020

Online Stock Broker Reviews

4.5 stars
Firstrade

FIRSTRADE

Visit Site

Cost:

$0 for all online trades

$19.95 (+ $.50/contract) for all broker-assisted trades

Minimum Deposit:

None

Since 1985, Firstrade has been a leading brokerage firm offering a complete line of investment tools and products for every level of investor. This stock broker was one of the very first to get online, and they've received plenty of industry awards - Forbes, Smart Money, and Barron's have frequently named Firstrade among their top choices for online brokers, especially when it comes to commissions and fees.

You'll soon see why: Firstrade doesn't require any minimum deposits, and in August 2018 the firm eliminated all commissions for stocks, ETFs, options, and mutual funds. That's right: you won't pay anything in fees for most transactions completed through the broker's online platform. Ever.

That means that you can trade using your dashboard, online or via mobile app, at no cost other than the price of the stocks themselves. Some of the newest features added to the Firstrade app at the time of our review were advanced charts, equity ratings, and an improved trading/research interface.

You'll also have access to a wealth of information once you open an account. Click on the Research & Tools heading to see what you can expect from Firstrade, including video commentary from trusted independent analysts, Market Heatmap, Morningstar ratings and research reports, and much more.

The only drawback to using Firstrade that we could find is the lack of advisor help, either automatic or with an investment professional. Most online stock brokers offer at last one, if not both. In other words, if you need some hand-holding while buying and selling stocks and strategizing your approach, Firstrade might not be your top pick. Otherwise, if you're comfortable doing the research using the educational resources this stock broker does offer online, you'll probably be very pleased with your experience.

Firstrade jumped almost to the top of the industry when it announced their fee-free trading structure, making them an excellent choice for most investors looking for an affordable online stock broker.

Visit Site
3 stars
Speedtrader

SPEEDTRADER

Visit Site

Cost:

$4.99/trade

$0.0044/share

$0.40/contract on options

Monthly software fees based on platform chosen

Minimum Deposit:

$30,000

SpeedTrader is a division of Mint Global Markets, Inc. and has been serving active day traders since 1999. They give their traders direct market access, allowing for better fills and faster executions through 25+ routing options.

SpeedTrader focuses on two-day trading platforms: Pro and Elite. We strongly recommend that you take advantage of their free platform demo before making your decision. You can also use ActiveWeb and Mobile Trading; those demos are also available under the Platforms tab. Expect monthly fees ranging from $25 to $120 month, depending on which platform you choose; these fees are often waived for clients who generate at least $199 in monthly commissions.

When buying or selling, pricing choices include per-trade, per-share, and per-contract for options.

We also really like that SpeedTrader offers a free, virtual practice account. You'll have to email or call them to set it up, but once you've been given the green light you can download their online trading software and use your "virtual buying power" to make sure you understand how both their platform and active trading work.

What SpeedTrader does - active day trading - it does very well, with numerous options for platforms and pricing. However, for the average investor looking to manage a retirement account or invest in the market for personal reasons, SpeedTrader will not be an appropriate choice.

Visit Site

Continued from above

And, of course, with fluctuations in the economy, and subsequent rises and falls in stock prices, some people panic and pull out significant investments - leaving the door wide open for others to take advantage of big opportunities to buy low and hopefully sell high later.

Of course, the best online stock brokers do have the option to work with a consultant if you choose. Especially if you're just starting to learn about investments, you may feel more comfortable knowing you can access an expert if the need arises. These services may be included, or you may have to pay for them a la carte.

So, when choosing the right online stock broker for your needs, how do you know which one is best? Before you jump in and start buying up your shares in Apple or Coca-Cola, here are some factors to keep in mind:

  • Information. From beginners to experts, having up-to-date information on the stock market is critical. What resources does the online stock broker have available to guide you in your decision-making?
  • Fees. When purchasing your stocks, will you be charged a percentage of your total buy or a flat fee? When the time comes to sell, what will you pay?
  • Reputation. What do other investors say about their experience buying and selling with the online stock broker? Have they had positive interactions with the broker when they've needed help? How many investors have chosen this particular broker's services?

TopConsumerReviews.com has reviewed and ranked the best online stock brokers available today. We hope this information helps you choose the right broker for your stock buying and trading needs!

Lemonade Stock Soars Over 100% On First Day Of Trading, But When Will It Post A Profit?

Shares of Lemonade, an online insurance company backed by SoftBank, have surged more than 100% since the company went public on Thursday, pricing its IPO at $29 per share. The stock, trading under the ...

Published:  Thu, 02 Jul 2020 13:48:00 GMT



Shopify Stock Is Trading in Record Territory. One Analyst Says the Rally Will Continue.

Baird analyst Colin Sebastian repeated his Outperform rating on Shopify stock, and lifted his target price to $1,100 from $820. Shares of the provider of e-commerce software have already surged by ...

Published:  Thu, 02 Jul 2020 10:01:00 GMT



"Insurtech' Lemonade Stock More Than Doubles on First Day of Trading

The strong performance comes after Lemonade raised $319 million late Wednesday. The company sold 11 million shares at $29 each, above its $26-$28 price range.

Published:  Thu, 02 Jul 2020 09:42:00 GMT



Stock market live Thursday: S&P up 4% for the week, Nasdaq new record, blowout jobs number

Stocks moved higher on the final trading day of the holiday-shortened week, fueled by better-than-expected jobs data. The Nasdaq Composite hit a new all-time intraday high, although all the major ...

Published:  Thu, 02 Jul 2020 18:25:00 GMT



New Preferred Stock IPOs - June 2020

Thirteen new preferred stocks were introduced during June, offering an average annual coupon of 6.8 percent. There are currently 126 high quality preferred stoc ...

Published:  Thu, 02 Jul 2020 06:12:00 GMT



FedEx stock soars as online shopping sprees boost company's quarterly results

FedEx Corp. stock rallied after the deliveries and logistics company reported late Tuesday better-than-expected adjusted profit and sales in its fiscal fourth quarter, as the surge in online buying ...

Published:  Wed, 01 Jul 2020 05:02:00 GMT



Dave Portnoy Kicked Off Stock Trading Platform After Rant About $220K Loss

Barstool Sports founder Dave Portnoy said Thursday that he had been prohibited from using the online stock trading platform E-Trade. Portnoy sold a majority of stock in his company to Penn National ...

Published:  Thu, 25 Jun 2020 16:31:00 GMT



Is the stock market closed Friday? For July 4, here's everything investors need to know about trading hours and closures

The New York Stock Exchange and Nasdaq will be shuttered at the conclusion of regular trade Thursday, while the bond market will close an hour early, at 2 p.m. Eastern on Thursday, and will remain ...

Published:  Wed, 01 Jul 2020 20:00:00 GMT



European Stock Markets Retreat On Virus Concerns

Analysts said that concern over a potential resurgence of COVID-19 cases had weighed on European markets, which did not receive support from New York later in the day because US markets were closed ...

Published:  Fri, 03 Jul 2020 09:41:00 GMT



Stock market live Wednesday: Nasdaq-100 hits new record, S&P 500 rises, Pfizer vaccine shows promise

The Nasdaq and S&P 500 rose moderately on Wednesday, but the Dow faltered. Positive coronavirus vaccine data from Pfizer and a strong private payrolls report boosted sentiment. Stocks are coming off ...

Published:  Wed, 01 Jul 2020 18:40:00 GMT



Share Us!   

Home      About Us      Terms & Conditions      Privacy Policy      Contact Us      Disclosure