Best Online Brokers: SmartMoney’s Picks for 2009
Tip It!Not quite a year ago, I highlighted SmartMoney’s rating of the best online brokers. Today, I thought I’d take a closer look at the results of their 2009 survey.
As you skim through the list (reproduced below), you’ll notice that it’s quite similar to last year’s version. There are, however, some differences. Here’s a quick rundown of their most notable findings:
- E*Trade retained the top spot, excelling in all categories across the board.
- TradeKing slipped one spot for third to fourth, though they still shines in terms of trading tools and customer service, and their commissions are still significantly far lower than their nearest competition.
- Zecco is still hanging on near the bottom of the list. They have barebones offerings, but also offer free trades if you meet their balance requirements.
- ShareBuilder climbed a few spots from the bottom of the list, primarily because they added 300 new mutual funds to their offerings.
The best brokers of 2009
Here’s a full rundown of SmartMoney’s list:
- E*Trade
- Fidelity
- Charles Schwab
- TradeKing
- TD Ameritrade
- Muriel Siebert
- Scottrade
- Firstrade
- OptionsXpress
- Banc of America
- Just2Trade
- WellsTrade
- ShareBuilder
- Wall Street*E
- Zecco Trading
- SogoTrade
Interestingly, none of Consumer Reports’ best broker picks made it onto SmartMoney’s list.
Published on June 22nd, 2009 - 2 Comments
Filed under: Reviews, Saving & Investing
About the author: Nickel is the founder and editor-in-chief of this site. He's a thirty-something family man who has been writing about personal finance since 2005, and guess what? He's on Twitter!
Related articles...
» SmartMoney’s Top Online Broker for 2008» SmartMoney’s Best and Worst Brokers
» Which Online Broker is Your Favorite?
» The Best Brokers in the Land
» Kiplinger’s Top Discount Brokers
» 401(k) Limits to Decrease in 2010?
» Best Online Discount Brokers (Updated!)
» TradeKing $50 Bonus Reminder
Was this article useful? Please sign up to receive our content via e-mail:
2 Responses to “Best Online Brokers: SmartMoney’s Picks for 2009”
Leave a Reply
Top Cards by Category
Earn $200 Bonus Cash Back after you make $500 in purchases in your first 3 months. 5% Cash Back on up to $1,500 spent in bonus categories each quarter.
Earn up to 20,000 bonus miles with your first purchase 10,000 of which count as Medallion(R) Qualification Miles. Earn up to 5,000 bonus miles when you add two additional cards to your account with initial application.
Earn 25,000 Membership Rewards(R) bonus points when you spend $1,000 in your first three months of Card membership.
Earn up to 5% cash back* in categories that change and enjoy a 0% introductory rate for 15 months on Balance Transfers and 15 months on Purchases.
Enjoy no balance transfer fee for a limited time. 0% introductory rate on Balance Transfers and Purchases. Earn up to 5% Cashback Bonus in categories that change like gas, restaurants, department stores and more. Limitations apply*
Enjoy no balance transfer fee for a limited time. 0% introductory rate on Balance Transfers and Purchases. Earn up to 5% Cashback Bonus in categories that change like gas, restaurants, department stores and more. Limitations apply*
Enjoy amenities for you and your business, like: complimentary airport club access, including American Airlines Admirals Club(R) lounges.
5% Cashback Bonus in categories that change like gas, restaurants, department stores and more. Limitations apply*. Up to 1% unlimited Cashback Bonus on everything else. No annual fee
Earn 3X points on airfare, 2X points on gas and groceries, and 1X points on everything else.
Reports to 3 major credit bureaus monthly and acceptance at millions of locations worldwide, including website purchases and reservations.
- How to Become a Millionaire
- How to Get Out of Debt
- The Best Dollars I've Ever Spent
- How Our Estate Plan is Structured
- How We Paid Our Mortgage In Less than 10 Years
- Money Making Ideas
- How to Manage Your Asset Allocation with Multiple Accounts
- Consumption Smoothing - Save While the Saving's Good
- How to Save on Groceries
- How Much Life Insurance Do You Need?
- Eleven Great Books About Money
- Dave Ramsey is Bad at Math
- Dish Network Customer Service SUCKS
- $8,000 Homebuyer Tax Credit
- Pay Off Mortgage Early or Invest?
- How to Claim the First-Time Homebuyer Tax Credit
- Reduced Credit Limits? Share Your Experience
- $15,000 Homebuyer Tax Credit
- Ethanol Blended Gas = Lower Mileage?
- Termite Control: Sentricon vs. Termidor
- How Much Should You Pay a Babysitter?
- Federal Income Tax Rates Went Down but Your Federal Tax Withholding Increased. Here's Why...
- Would the "Fair Tax" Gut the Economy?
How to save money on insurance
- Why Do Cell Phone Companies Charge Activation Fees?
- Double-Check Your Ally CDs
- Stocks are Not Bonds, CDs, or Savings Accounts
- The Best Values in Colleges - 2012 Edition
- Five Myths About Renter's Insurance
- Own Your Investments, Rent Your Fun
- Citibank to Issue Credit Cards in China
- Heartstrings and Pursestrings
- Saving Money at the Grocery Store: Store Brand Pricing on the Rise
- Missing Tax Paperwork?
June 22nd, 2009 at 9:19 am
Surprising that thinkorswim didn’t make it despite their low brokerage rates, 3 free MF trades a month and fast service.
June 27th, 2009 at 12:01 pm
insane that Etrade is top spot.. they are terrible.. fidelity deserves the 2nd but TD ameritrade should be #1 with their free 500 trades on first month and $9.99 thereafter