Best Online Broker?
 

So, I know a pretty decent amount about investing and playing the stock market but I am pretty young and haven't started yet. I know a decent amount, except where to start. I am looking for a trusted online broker that is optimal for young investors who are interested in risking fairly small amounts. I am hoping to find one with low commissions and hopefully no monthly fees. There seems to be a few good ones that I have found (sharebuilder, tdameritrade, etc) but I was looking for some feedback on the best one for young investors.

Also, I am not sure if it is optimal to use the online investing options through the bank in which you have a checking account?? (chase, wellsfargo, etc.) Any feedback would be great.

Re: Best Online Broker?
 

Scottrade.

Read up on Sharebuilder and see if it is right for how you plan on investing (i.e. Higher sales cost, once per week trade, fair research).

Re: Best Online Broker?
 

zecco has $0 trades which is nice

Re: Best Online Broker?
 

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zecco has $0 trades which is nice

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I'm sure slippage on a site that has $0 commission will be terrible. I'd stick with a well known online broker that is cheap. Like Ameritrade, Ameritrade Izone, Schwab, or Scottrade.

Re: Best Online Broker?
 

Here's a survey article in SmartMoney magazine that might help.

The Right Broker for You

Re: Best Online Broker?
 

In my opinion, it doesn't make a huge difference. The important thing is choose one and get started. That is way, way more important than saving $2 per trade.

That being said...

Zecco is cheapest. $0 trades and $30/year for IRAs.

SogoInvest is cheap. $3 trades and $0/year for IRAs (once IRAs are implemented).

Scottrade is good. $7 trades and $0/year for IRAs. Scottrade has many branch offices in case you want to talk to real people.



If you want a scottrade referral, I can send you one. We'd each get three free trades.

Re: Best Online Broker?
 

[ QUOTE ]
[ QUOTE ]
zecco has $0 trades which is nice

[/ QUOTE ]

I'm sure slippage on a site that has $0 commission will be terrible. I'd stick with a well known online broker that is cheap. Like Ameritrade, Ameritrade Izone, Schwab, or Scottrade.

[/ QUOTE ]

Slippage? Everything on small orders is electronic now. I doubt there would be any noticeable slippage difference from any other decent broker.

Re: Best Online Broker?
 

[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
zecco has $0 trades which is nice

[/ QUOTE ]

I'm sure slippage on a site that has $0 commission will be terrible. I'd stick with a well known online broker that is cheap. Like Ameritrade, Ameritrade Izone, Schwab, or Scottrade.

[/ QUOTE ]

Slippage? Everything on small orders is electronic now. I doubt there would be any noticeable slippage difference from any other decent broker.

[/ QUOTE ]

You don't trade much, do you?

SOES works well on the NASDAQ, but, even with regulation NMS inacted, NYSE fills still blow. AMEX fills are the most disgusting on a regular basis because of all the floor regulation and order selling.

If you plan to only place limit orders then most of this doesn't matter.

Re: Best Online Broker?
 

after some research i think i am going to go with scottrade. gull- that sounds like a good deal. i'm happy to use you as my reference. i will probably not be starting with scottrade for about a month and a half though. just message me if you see this.

Re: Best Online Broker?
 

Scottrade has made some really nice improvements to their site of the past few months.