The Best Low Cost Online Brokers For IRA, Stocks and Options Trading – Reviews and Commissions

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If you are thinking of investing in the stock market or just looking to start an IRA then you need an online broker. In today’s online world there are lots of good choices, but the key things to look for are cost, convenience and customer support. Here’s a summary of leading online brokers that excel in this criteria from which you should be able find at least one that meets your trading needs.

Broker	Commission Structure and Best Features	Special Deals
OptionsHouse^	Lowest brokerage rate of $3.95 per stock trade;  $5 for up to 5 option contracts Among the lowest cost brokers, with a sophisticated trading platform for stock and option traders.	Get 100 commission free trades. Enter promo code FREE100 and your 100 commission-free trades will be automatically applied to your new account Learn More »
TD Ameritrade*^	$9.99 stock and option trades; +75¢ per option contract #1 rated stock broker in 2011 according to Barron’s and Kiplingers 2011 broker study. Has a range of trading tools. Great for educational resources and research. Solid support for all brokerage services ranging from stock and fund trading to options, forex and futures trading.	Trade Free for 60 Days & Get Up to $600 Learn More »
E*TRADE*^	$7.99-$9.99 trades; +75¢ per option contract Pioneers in online investing for over 20 years, E*TRADE provides a full range of investment choices at exceptional value as well as professional investment and retirement guidance. E*TRADE offers clear competitive pricing with stock and options trades at $9.99 or less.	Open an account today and get up to $500, plus 60 days of free trades. Learn More »

* Good for new or beginner investors; ^ Recommended for IRA and Roth IRA Accounts

Opening an Account Online – things you should know:

• It only takes 10-12 minutes to apply online at the above brokers. You will need to complete an application form and in some cases fax/mail in to verify certain financial and identity information.  There should be no costs for opening an account.
• You will need to provide your U.S. Permanent Residential Address, Date of Birth, Social Security number or Tax ID number, employer name and address. If opening an IRA, you will need your beneficiary’s (e.g. spouse) Social Security Number, address and date of birth.
• Funding the account. There are generally 4 standard ways to fund your new acccount : Wire transfer, ACH bank transfer from your existing account (best option), transfer cash or securities from an outside financial institution, mail a check.
• All of the above have an online chat or a support line which you can use if you get stuck or have questions during the application process.