Best Online Brokers: SmartMoney’s Picks for 2009

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:

  1. E*Trade
  2. Fidelity
  3. Charles Schwab
  4. TradeKing
  5. TD Ameritrade
  6. Muriel Siebert
  7. Scottrade
  8. Firstrade
  9. OptionsXpress
  10. Banc of America
  11. Just2Trade
  12. WellsTrade
  13. ShareBuilder
  14. Wall Street*E
  15. Zecco Trading
  16. SogoTrade

Interestingly, none of Consumer Reports’ best broker picks made it onto SmartMoney’s list.

2 Responses to “Best Online Brokers: SmartMoney’s Picks for 2009”

  1. Anonymous

    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

Leave a Reply