Question:

Do you know of any day trading online that is free or no commission?

by | earlier

i'm looking for an online way to do some day trading(stock market) without dealing with a company that charges commission. are there any websites for this?

Tags:

Report

Answer The Question I've Same Question Too

Follow Question

4 ANSWERS

Sort By: Date | Rating

Check out Zecco (http://www.zecco.com). 10 free trades a month if you keep your account balance at $2,500.00. Also Scottrade has a referral program for free trades if you have a bunch of buddies who want to open up accounts (3 free trades per referral)
Report (0) (0) | earlier
Nothing in life is free, especially in the brokerage business.

You can try Zecco,com, but you're going to get what you pay for

Brokerage firms have large operating expenses, so they are not about to do business for nothing. How do you think they pay for the equipment it takes to run their websites and the line feeds they have to pay, or the insurance mandated by law, or the staff to clear transactions.

You should look at things a little more realistic, who would go into an expensive business and give away their services??
Report (0) (0) | earlier
If you are going to do day-trading, you will need more resources than a free broker will provide.  Things like streaming quotes are essential.    Zecco will provide them for an additional fee.  But why not go to a broker that includes everything you need up front?

Also, be aware that if you make 4 or more day trades within any 5 consecutive  business days you will be labeled a pattern day trader.  At that point you must maintain a margin account with a minimum balance of $25,000.00.
Report (0) (0) |   earlier
If you are going to be a serious trader, you need to worry about the broker's platform and the execution they will provide you, not the 2.99 vs 4.99 per trade. One bad fill on a MKT order will destroy a months worth of penny pinching. So save yourself the hassle and just get an account with Interactive Brokers. For one dollar per trade ($30 minimum per month) you will get piece of mind which in this business is priceless.

If you are looking to literally "play" a little with stocks, than Zecco will do just fine.
Report (0) (0) | earlier