Welcome to Earl’s step-by-step guide to selecting an online brokerage firm! In this multi-part tutorial, I’ll demystify the process of choosing among the many online discount brokers available, in a simple and systematic way according to your personal investment strategy and financial situation. But, let’s be honest: if it were as easy as typing “best online brokerage firms”, or “cheapest online brokers” (or perhaps even “bestest cheapest online discount brokers”) into a search engine bar and clicking on the top result, then you wouldn’t be reading this guide.
You work hard for your money! At least eight hours a day (five days a week) you’re out there paying your dues and making a contribution to society — just trying to carve out that well deserved slice. Even more than that: you’reresponsible. You aren’t drowning in debt, and every payday you squirrel away a percentage of your earnings. As a result, you have a tidy sum lying around collecting dust — maybe in a separate savings account at the bank (earning abysmal returns), or maybe even stuffed inside your mattress (earning zero returns).