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Smart Money Best Brokers 2012
Posted By Jim On 10/04/2012 @ 7:15 am In Investing | 4 Comments
Every year, Smart Money puts out their list of the best and worst brokers. We’ve taken a look at that each of the last four years (2008 , 2009 , 2010 , 2011 ) and this year the list doesn’t look that much different from the ones in year’s past.
Here is the list of the top ten, along with the remarks (here’s the chart ):
It’s important to note that the list was released in May of this year, so we’re a little slow in getting to it, and a few things may have changed. For example, TradeKing acquired Zecco so we won’t be seeing Zecco appear on any future lists.
One thing worth noting, everyone on the list offered stock trades for less than $10 a piece.
Smart Money went even deeper and listed the best and worst in some categories:
Poor WellsTrade… listed worst in a variety of things and got only four stars in the Banking Services category, which makes sense since they’re associated with Wells Fargo.
I’m curious by Vanguard wasn’t included, especially when other mutual fund companies like Fidelity and Charles Schwab were included. I’m thinking it might be the fee structure? It’s $7 for the first 25 trades each year, $20 for subsequent trades, if your balance is below $50,000. Or perhaps they don’t consider them a broker? I’d be interested to see where they stacked up considering I’ve been a big fan of Vanguard for many years.
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 2008: http://www.bargaineering.com/articles/smartmoneys-2008-best-discount-brokers.html
 2009: http://www.bargaineering.com/articles/smart-money-2009-best-online-brokers.html
 2010: http://www.bargaineering.com/articles/smart-money-2010-best-online-brokers.html
 2011: http://www.bargaineering.com/articles/smartmoney-2011-broker-survey.html
 chart: http://online.wsj.com/media/smbrokersurvey0612.gif
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