Choosing an online broker isn't as easy as it was when the only brokers out there were affiliated with just the Big Four. The number of brokers is growing and competition is intense - which is good news for you as there are some excellent deals out there.
Your Money Magazine compared online brokerages based on an investor who would make a relatively low level of transactions(2-3 per month).
The Award winners, as featured in Issue 2 of Your Money Magazine:
Best Discount Brokerage -
Best for Investors who don't want many features or require much guidance and are prepared to do their own stock research.
For market-leading brokerage fees that enable a low volume start-up investor to make 30 trades per year (average trade size $3000) for under $500.
Best Premium Brokerage -
Best for Investors who like a bit of direction, access to all the latest tools and research to help with their share market decisions.
For its highly competitive brokerage structure, including a low ongoing platform fee, that's combined with access to a comprehensive range of useful features and services without additional charges.