Recommend a Discount Broker..

[johnymac]

Hey all,

I am new to trading. Please recommend the best discount broker. Following are my goals/needs:

- Study the market and trade after 1 - 5 weeks.
- Do not need too extensive research from my broker.
- Friendly online interface.
- and the CHEAPEST one - no account opening fee, and minimum trading (transaction) fee.

Hope to interact with you all.

Thank you!!!!

[Airelon]

First of all johnymac .... welcome to the forums ....

I'm pretty hesitant about 'recommending' anything. When I recommend ... I don't know. When it comes to other peoples money I'm very leery. I hear a lot of good things about "ThinkorSwim" but I have yet to move my accounts over there. I personally use Sharebuilder, optionsXpress and Scottrade. I used to use Zecco, but closed my account there.

[rhinodude47]

Welcome, Scottrade all the way. $7 flat fee trades, read Blain's speed review and you will be sold.

EDIT: Forgot link,

http://www.stocktradingtogo.com/2008...-speed-review/

[Airelon]

Although I'm with Scottrade, the only thing I don't like about them, is the inability to take advantage of DRIP’s for longer term buys. If you’re going to hold onto a stock for a couple of years, and it pays dividends, it’s almost like losing money by not being able to be enrolled in DRIP

[HappyT90]

The cheapest broker usually does not offer a user friendly interface. For example, Interactive Brokers, which offers one of the cheapest rates, is known for it's hard to use website. Zecco, which offers 10 free trades per month, is rated as having the worst customer service.

I currently use Firstrade. They have a similar pricing structure, maybe slightly cheaper, as Scottrade. I like them over Scottrade because they offer free DRIPs, which Scottrade, as mentioned before, doesn't. I don't know if I want to recommend a specific brokerage firm to you but I do know that I would definitely recommend that you take a look at a lot of brokers before choosing the right one for you.