Look at Broker Sites for the Best Online Trading
The best online trading sites for trading both stocks and Forex currency pairs is conjecture, but as an MBA graduate with years of experience in commodities and Forex investment trading, I hope to provide you helpful information.
The best online trading sites for stocks are usually broker sites. The broker you use depends greatly upon how much “hand holding” you need in your trading, as you may require a lot of assistance with trading or very little. If you perform your own research, trade with practice or demo accounts before live trading, have a proven system that you follow without fail, and can control your emotions and exactly follow the rules of your system, then a discount broker may be prudent for you. This well allow you to take advantage of the best online trading sites.
Best Online Trading Sites for Stocks
Some of the best online trading brokers include:
Scottrade
This is one of the best online trading portals, and for good reasons. The commissions are extremely low and surveys show customer satisfaction is high. This is, of course, a discount broker, so you will need to know what you are doing.
Fidelity
Not only a leader and powerhouse in mutual fund investing, Fidelity continues to please customers by providing some of the best online trading services and prices. Using this company will provide you the security of knowing that your funds are with a reputable and secure institution with years of experience. Fidelity is well-known as one of the best online trading companies.
Charles Schwab
A great competitor to Scottrade for the discount brokerage business, Charles Schwab has been one of the best traditional investment companies for years, and is now greatly expanding and is a top pick for the best online trading company. Charles Schwab has both discount and managed accounts services depending upon the knowledge of the investor.
Best Online Trading Sites for Forex
Some of the best Forex brokers:
AC Markets (ACM Forex Broker)
Voted the best broker in Switzerland by the World Finance Banking Awards in 2010, ACM brings both quality products and high customer service to the Forex currency investing industry. In 2009, as a top pick as the best online trading site for currency trading, ACM was awarded both the best Forex Broker and the best Forex trading platform and the Banker Middle East awards held in Dubai.
MB Trading
Awarded the Top Broker Rating by Barron’s for 2010, MB Trading is a true ECN Broker (direct electronic trading to the exchanges with no Forex dealing desk), and I’ve used them for years without problems. Their MBT Desktop program, while taking a few days to learn, is robust and highly informative. MBT offers many types of trade orders not offered by most other Forex brokers. Also, MB Trading now offers a Metatrader 4 platform that allows the use of indicators and EA software previously only with “market maker – deal desk” type brokers. We continue to be impressed with this company, and clearly is one of our top selections as the best online trading company.
Use Demo Account for the Best Online Trading!!
Before funding any trading account, first practice for several months using a “demo account” (virtual money). The best online trading account, in my opinion, is the demo or virtual trading account that allows you to practice your trading system for months before risking real money. Get as much information you can about the trading sites before making a decision. The best online trading website for one person may not be the best for another, depending on the time frames they like to trade in and their risk aversion levels. For example, some brokers allow the fast and risky scalping method of trading, and others don’t. If you can accept the risk, you may want your account at a broker that allows scalping. There are independent broker reviews sites that provide much more of an objective evaluation of a trading site, such as ForexPeaceArmy.com, Forex-TSD.com, and TradingTalk.com.
Among the best online trading sites, in my estimation, include Scottrade.com, MBtrading.com, and ACM Forex broker (AC Markets). Some brokers allow on stock trades, and some allow trading in both stocks and the Forex investment markets.