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What are some tips for finding reliable broker ratings?

A:

Quick Answer

It is possible to find reliable broker ratings through reputable analyst firms such as J.D. Power and Associates, Barron's and Kiplinger, according to the company websites. Along with ratings, these firms also provide explanations for the methodologies underlying their assessments. Reviewers consider criteria such as trading capabilities, depth of investment tools, security and social media features to arrive at their conclusions, according to Barron's, who chose Interactive Brokers and OptionsHouse as the best online brokers of 2015.

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Full Answer

When ranking online brokers, Barron's considers aspects such as availability, stability, speed and intuitiveness of websites and other trading platforms. It also take into account costs, security and quality of mobile trading and account data, explains the firm's website. The analyst firm also evaluates the nature of customer service, the quality of portfolio analyses and reports, the type of trading technology, and the accessibility of research quotes and charting. By these and other criteria, the additional best online brokers of 2015 include TradeStation, Fidelity and Merrill Edge.

To come up with its customer satisfaction ratings for full service broker firms, J.D. Powers evaluates aspects that include nature and range of product offerings, investment performance, fees and availability, and usability of company websites, notes its website. By these and other criteria, the full-service broker firms that clients found the most satisfying in 2015 included Fidelity Investments, Edward Jones, Charles Schwab and Company, Stifel, Nicolaus and Company and Ameriprise Financial.

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