What broker do you use?

[Fan-Man]

I used to use TradeKing. They are great if you plan on doing research apart from your broker and want CHEAP. I have since switched to TD Ameritrade and so far I really like the company. Trades are $10. The website works great and you get great research ... it's even better if you are an Apex member.

negatives so far: the money market doesn't yield much....I think E-Trade's money market is the highest...not a big problem just do an electronic transfer or wire your money from another higher yielding money market account.

[Jane]

I have just started researching online brokers. Since I want to start small, I am looking for a small minimum investment and the lowest per trade fee. I plan to use research tools on other sites for now; so that is not a major concern for me.

I found zecco.com and they offer 4.50/trade fees with no minimum or 10 free trades/month with a $2500 minimum account. Has anyone used zecco?

[Gunnski]

ShareBuilder now with ING Direct is good with their trade commission ($4.00 I believe), But, their cheap rate is good only on Tue. trades. The rest of the trading week they are a little pricey. Plus, they charged me $50.00 to transfer a ROTH acct. to Scottrade.

If someone wanted to dollar cost average into a position(s), or simply buy into mutual funds or ETF's and can wait until TUE. You cannot beat a $4.00 trade. Waiting for Tue. can be a hassle to cut your costs & you give up the benefit of being nimble with your trades.

I know there are some good posts re: this subject on this board. You may want to take a look at some of the older posts.

I would really look into things like costs, tools, easy of use, record keeping, trade execution, etc. before you pull the trigger. Otherwise you'll be in & out of different brokers & it can be a pain getting your funds transfered & you may incure unnecessary fees. Like this knucklehead!

Also, I would check to see if you can transfer funds via checking or savings via linked to your trade acct. via ACH.



This may help: (http://www.fidelity.com)

>> Where to buy Best online broker overall.Fidelity gets the highest scores for its excellent research tools, even though its commissions are higher than some other online brokers. Its website is easy to use, with a wide range of investment tools and calculators. Its customer service scores are also among the best in the business. Fidelity's base commission rates are $19.95 per market order, but there are no handling or maintenance fees. Although that's higher than a lot of online brokers, rates drop for those with high account balances or for very active traders. Fidelity has a minimum opening balance of $2,500. It also offers numerous branch offices throughout the country where clients can speak with a trained professional.
• TD Ameritrade
(Online Trading - TD AMERITRADE - Online Stock Trading and Investing)

>> Where to buy Best discount broker.When TD Ameritrade was formed from the merger of TD Waterhouse and Ameritrade in 2005, reviewers said that the new company was off to a rocky start. With time, ratings have improved, and now Barron's rates TD Ameritrade the number one web-based broker, saying that the firm has adopted the best parts of its two companies, combining the great research tools of TD Waterhouse with improved trading from Ameritrade. In customer satisfaction surveys, TD Ameritrade ranks as one of several firms that performs above the industry average. Commissions are a flat-rate $9.99 for any amount of shares, and there is no minimum investment to open an account.
• Scottrade
(Online Stock Trading, Discount Brokerage Firm, Investment Accounts, Stock Research, Online Broker, Retirement Investing, IRA - Scottrade)

>> Where to buy No-frills online broker.Reviews say that Scottrade offers excellent value for the money for those who don't need a lot of handholding. Trades are fast, customer service is good and costs are low. The minimum opening investment is $500, and market orders are only $7, with no inactivity or maintenance fees. However, Scottrade offers less in the way of research or additional services, so it's best for those who don't need much extra help. Scottrade has opened nearly 300 branch offices, which allow clients to talk to an advisor.
• ShareBuilder
(ShareBuilder from ING DIRECT: Buy Stocks Online and invest your money at ShareBuilder)

>> Where to buy Best online broker for novices.With ShareBuilder, reviews say new users can expect plentiful investment strategy primers, ranging from dollar cost averaging to diversification, and the company has no minimum balance requirements. This is one of the few sites that allows customers to set up automatic investments for stock trades, which only cost $4 each. Regular market orders will cost you $15.95, however. Although ShareBuilder doesn't get the best scores in any one area, it fills a niche for those who want low-cost automatic investments. Note that ShareBuilder is now part of ING Direct.

I am very happy with Scottrade!

Hope this helps a little shortening your learning curve.

[desertfox]

I use Zecco trading. 10 Free trades per month as long as you have at least $2,500 in your account. And, this amount is also including the value of your purchased stocks that you own.
If you don't have that much money to start with the trading fees are $4.50 per trade.

[pjwidener]

Just for reference, there is another great site out there called Think or Swim. thinkorswim Home - Stock Option Investing - Stock Option Trading - Online Trading Stocks and Options

It's a great online trading site. It was voted the "Best software-based online broker" by Barrons last year. Just some information if anyone is having a tough time deciding who to go with.

[Stockowner]

Interesting. So technically if you keep below 10 trades a month (which I think 90 percent of us here do), you will never pay a cent to the online brokerage?

[pjwidener]

That is precisely correct...not too bad huh?