Because of the internet boom of the late 90’s and the huge role the internet plays in our everyday lives millions of investors have started moving to online brokers. Thanks to today’s technology, these online brokers are able to offer low commission trades (many less than $10 per trade) for the average Joe which can be completed in less than a minute.

There are over 100 well known discount online brokerage firms which offer online trading to anyone with internet access and funding. Included in the dozens of online firms are major brokerages such as Charles Schwab and Waterhouse who have launched separate branches dedicated to online trading. Additionally, new companies have pooped up whose sole purpose and functionality is online trading, among these are: Ameritrade and eTrade.

One common misconception when looking to start online trading is the idea that all online brokers are the same aside from their commission fees. This is quite the opposite. There are dozens of differences in online brokerages, and taking a look at these differences is crucial to running a successful and comfortable online portfolio. Some brokerages offer better research and analysis of investments than others do, while those others may have a better chance of getting you in on the ground level of that hot new IPO. The following are some important points which you should consider when choosing an online broker:

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