Which online stock broker (i.e. scotttrade, etrade, etc. is the best with cheapest fees?

Question

i want to diversify my investments and would like to start buying stock. but, i've heard that there are certain brokers that require a minimum of $2,000 just to get started. that, obvioulsy, digs into what i would like to invest.

Answer 1

What type of investments are you thinking about?

Answer 2

it wouldn't dig into it.. it just means you have to have that much in your account with that broker instead of splitting it between two brokers.

but each broker site has their ups and downs.  I went to each website and wrote down all their minimums/account fees/transaction fees/included features etc and compared them on a spreadsheet.  I suggest you do the same and see which will be what YOU need since it varies by each investor.

Answer 3

I like TD Ameritrade. No minimums, low fees, lots of trading tools and free investment research.

http://www.tdameritrade.com/welcome1.htm...

Answer 4

The world's cheapest stock broker

SogoTrade( http://www.sogotrade.com )offers cheap stock trading at $1.50 - $3.00.

Some of the features this brokerage offers:

1. $1.50 - $3.00 Online Equity Trades

2. Fast Order Execution

3. Excellent Customer Service

4. Scheduled Investments and Fractional Shares

5. 3 Great Trading Platforms: SogoTrade, SogoElite, Laser

6. Enhanced Online Security and SIPC Protection

7. Powerful Trading Technology

8. No Account Inactivity or Account Maintenance Fees

9. Free Dividend Reinvestments Service

10. Complementary Stock News and Stock Charts

Check out the below urls:

Answer 5

Mostly all brokerage firms provide their clients with on-line services, including trading platforms, latest market & financial news and research.

Customer need to select the site that is best for them.  Traders have requirements in a site, while investors have other requirements.  

Although most sites are geared to general securities and commodities, however customers may have special needs for the types of products they trade, and the markets in which they trade.

It seems that the most popular firms for on-line investing all of which provide excellent platforms and services are; Scottrade; Chas.Schwab; TDAmeritrade; Fidelity; E-Trade and Thinkorswim.

If you have to worry about $2,000 as a minimum, you could select any firm, and don't worry about charges/fees.  Just go invest/trade and make some money

Answer 6

If you are investing less than $2000 total, you either really need to know what you are doing, or you will get slapped silly by the markets.  If a trade fee is $5-7, each time you would buy and sell a stock it would cost you $10-14.

It would be hard to diversify with such a small amount.  And if you are not familiar with how the markets move up, and down, you could easily get shaken out and find your nestegg dwindling.

If you have not paper traded yet (on a website, or write down buy and sell price when you would buy/sell on paper), that might be a good start until you have more of a pot built up.  And factor in the trade fee to make it more realistic.  Although, that will not quite prepare you for when your own money is on the line.

It is not uncommon for stocks that look great with great earnings suddenly drop 30-50% after they have gotten overextended.