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Does Your Online Broker Really Want You?

Keep in mind that many online brokers are really targeting just one type of investor, say the active investor or the options trader.

These tend to be the brokers that advertise super low commissions.

Those low commissions attract all investors (hey, everyone wants a good deal), but cheap commissions are meaningless if you're a buy-and-hold investor and you have to pay a $50 annual inactivity fee or a $30 IRA custodial fee to trade 3–4 times a year.

If that's the case for you, switching is the right move.

Or say you're an active options trader, but you were lured to a discount broker who advertised ultra-low commissions.

Problem is... those commissions don't apply to you, because you trade options, and this broker has a totally different commission structure for options. Again, it's time to switch.

Need an options broker? Find one here.

NEXT: Is Your Online Broker Living Up to His or Her Promise