There are two types of brokers: full-service and discount. Full-service brokers tailor recommendations and charge higher fees, service charges, and commissions. Most investors are willing to pay these higher fees because of the research and resources these companies provide. With a discount broker, the majority of research falls on the investor; they just provide a platform to perform trades and customer support when needed. Newer investors can benefit from the resources provided by full-service brokers, while frequent traders and experienced investors who perform their own research may lean towards platforms with no commission fee.
TD Ameritrade was ranked #1 Online Broker 2020 by*. TD Ameritrade charges $0 for regular stock and ETF trades and is best known for its trading platform, thinkorswim, alongside its outstanding learning center for beginners. Alongside #1 Overall, TD Ameritrade received top awards for its trading tools, mobile apps, research, customer service, and education. Full review.
What would make me sell: Sometimes there are good reasons to split up. For this part of your journal, compose an investing prenup that spells out what would drive you to sell the stock. We’re not talking about stock price movement, especially not short term, but fundamental changes to the business that affect its ability to grow over the long term. Some examples: The company loses a major customer, the CEO’s successor starts taking the business in a different direction, a major viable competitor emerges, or your investing thesis doesn’t pan out after a reasonable period of time.