Online Brokers

[siccmadeinc]

Which one do you use? Why?

[Colin]

Never just go for one. Always have a back up.

You didn't specific what market your broker needs to support, so for the record all the brokers I list are forex specific.

I use FX Solutions as my main broker. I opened an account due to the fact that they allowed for micro lots, as they were one of the first brokers to offer that feature. I've stuck with them as I've found their software to be robust and pretty useable.

I have Oanda and EFX Group as my backups.

[reuben]

As far as fx is concerned i would recommend Oanda since they allow to open tiny acccounts (even a few USD).

[Vanessa]

My preference is for web-based brokers. I use OptionsXpress. I've been with them about two years and am happy with their customer service and trading tools.

But I will probably be switching to ThinkorSwim, which has lower commissions, in the next year. From my last three months of using them, ThinkorSwim has a steeper learning curve. I think they are geared towards intermediate options traders. I am happy with their features, free educational material, different platforms(web-based, desktop based and mobile) and real time quotes and support.

For software based equity brokers, I'd checking out MBTrading or InteractiveBrokers.

[wdmny]

If you are looking for a good general stock broker, I would go with Scottrade. You can place orders online or by phone. Online orders carry only a flat $7 comission.

There really is no reason to have multiple brokerage accounts "as a backup." These types of services are pretty reliable and I've never had a problem with Scottrade being down or not working.

[reuben]

Originally Posted by wdmny

There really is no reason to have multiple brokerage accounts "as a backup." These types of services are pretty reliable and I've never had a problem with Scottrade being down or not working.

I suggest that you google refco (go for the wikipedia article). There is a very good reason to diversify

[mustard76]

Scottrade is great if you want to buy individual stocks ($7 trades) but their mutual fund selection is poor (think high fees). If you want to buy funds, I suggest you choose the funds first and then open your brokerage account with a firm that carries the funds you want.

[coollikeme]

scottrade 7 dollar trades and there tools are easy to use. I started with 800 dollars with scottrade the other brokers you need at least 1000 or more. They also are very helpful. Good luck!!

[TheBull]

I would second the Scottrade recommendation. I use it for two accounts and it is quite easy to use. I don't really use it for research stuff, only placing orders so I can't speak to that aspect of it.

[siccmadeinc]

Free Trading – The Zecco Offer

Pricelist
Please acquaint yourself with the only fees you’ll ever encounter at Zecco Trading. Our prices are not introductory, nor are there any hidden fees after your account is established. By the way, Zecco Trading will credit an interest rate of 1% annually (1% APR) on cash balances held in all accounts. 1% APR paid monthly based on average monthly cash balance.

Stock & ETF Transactions Trade Unlimited Shares
Online Market Orders Zero Commission
Online Limit Orders Zero Commission
Online ETF Orders Zero Commission

You can make up to 10 trades in any one day up to a total of 40 trades a month at no cost, and after that you only have to pay a paltry $3.50 per stock trade.

Please keep in mind that only the first account of any account type is eligible for our Free Trading program. Any multiple accounts of the same type with the same registration are not eligible for the free trading program.