Book Review > Getting started in ONLINE BROKERS

In March 2001, I reviewed "Getting started in ONLINE BROKERS" The first chapter distinguishes between broker�s cash and margin accounts, types of trade orders, and an understandable description of selling long and short. The Strategy and Money Management chapter gives the kind of �feet on the ground" advice we all need to refer to regularly. The "right broker for you" is covered by asking three basic questions: How much help do you need? Are you confident of placing orders? How much execution speed do you need? Brokerage profiles are ranked, in tables comprising brokerage \$costs, & minimum deposit \$costs.

Over half of this book is taken up with comparing all the current US brokerage company profiles detailed in considerable depth; ie each broker Company is described by:

Brokerage type, mailing address, web address, e-mail address, phone, fax, market order costs, Limit orders, Option trade \$costs, Telephone trade \$costs, after hours trading, products available, average execution time, minimum deposit, additional fees, fee services and financial links, real-time quotes, localities registered in, Mutual funds offered, payment for order flow, banking services offered, company background, and include Customer service ratings, and some have Gomez (benchmarking) ratings and Forester (research) PowerRankings™

This is "the" book for comparing and choosing an on-line broker currently operating in the USA. As such it succeeds by shear wealth of detailed information presented in a format that enables easy comparison.

I classify this as more of a reference text. I believe however it will "date" and a 2nd edition may need to be released in 18 months time to reflect changes to \$costs and range of services in the competitive environment of on-line broking. Selling a new CD version released periodically could do this. Even better would be to have this text up on a Website, taking regular update feeds from on-line Brokerage companies. Such a web site would then always reflect current \$costs and services.

I recommend this reference text to all investors looking for a US on-line Broker to suit their wallet and their service needs.