Best Online Broker?

Scruffey · #1 03-13-2007, 09:11 PM

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.

Uglyowl · #2 03-14-2007, 01:30 AM

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).

mtgordon · #3 03-14-2007, 02:15 AM

zecco has $0 trades which is nice

Chrisman886 · #4 03-14-2007, 02:25 AM

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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.

Preem · #5 03-14-2007, 02:37 AM

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

The Right Broker for You

gull · #6 03-14-2007, 02:50 AM

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.

pig4bill · #7 03-14-2007, 03:43 AM

[ 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.

Chrisman886 · #8 03-14-2007, 03:56 AM

[ 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.

Scruffey · #9 03-14-2007, 04:11 AM

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.

hlacheen · #10 03-14-2007, 08:34 PM

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