#1
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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. |
#2
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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). |
#3
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Re: Best Online Broker?
zecco has $0 trades which is nice
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#4
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Re: Best Online Broker?
[ 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. |
#5
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Re: Best Online Broker?
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#6
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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. |
#7
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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. |
#8
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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. |
#9
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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.
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#10
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Re: Best Online Broker?
Scottrade has made some really nice improvements to their site of the past few months.
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