I have 00 that I would like to trade with on the stock market as a "start", until I get better at it. Which broker is the best and why?. My plan is to do an average of one trade per week. I am afraid that the fees are going to eat up any money I make (if I do make money at all?). What’s your recommendation?.
Thanks
The 00 is meant to be a start until I gain some experience. I am planning to gradually increase it to ,000 in 6 months. A friend of mine is advising me to use fedility (he has been trading for 13 years). I guess becuase they have the research tools.
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5 Comments on “Which online stock broker is the best in your opinion?”
Dippin Dots of East Lansing 9th March 2010
I can tell you because I have used alot of them.
Scottrade is good for executing trades at a cheap cost ($7), but lacks market research.
Etrade is also a good price ($9.99), and has really good market reseach. They also allow you to trade in other Countries.
TD-Ameritrade is awesome… they’re prices very between ($10-12) but have the best streamers and market research available.
Sharebuilder.com – Great way to build shares monthly – $4 trades but not real time.
Zecco.com – 10 free trades per day or 40 trades per month. – Not alot of research available. Confusing site layout.
Hope this helps
jeff410 9th March 2010
I have used several over the years. I like Scottrade the best. Cheap trades. Prompt executions. Great customer service, when I need it. Very few problems with the website. No extra fees. Good for an average trader.
Serge M 9th March 2010
With $5,000 it is hard to do a trade a week. E*Trade has low commissions and they accept small accounts. there are others, but I’m not familiar with them.
Dave M 9th March 2010
I use my bank’s discount brokerage division. Most large banks have them. Talk to your bank about it. I trade a bit so I pay 6.95 per trade via Wachovia, my bank. If I only traded once per week, it would cost 19.95 per trade.
The nice thing about trading with my bank is that the money doesn’t have to travel far to get back into my checking account. I just call my broker, who almost always immediately answers the phone (no lengthy automated message voice crap). And I ask him to transfer funds from my brokerage account to my checking account or vice versa! I love it!
What comes with it is a "real time" portfolio tracker as large as I wish, or as many as I wish, along with tons of other useful info I can read on almost any stock in the world, such as financials, fundamentals, company news, earnings, etc….
chicagobrokerguru 9th March 2010
Either tradeking.com or thinkorswim.com. I had a bad experience with Etrade. They sold off all of my stock to pay for my fees I accumulated as a penalty for not trading stocks for a couple years.