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.

[BamaPete]

My main broker for past several years is MBTrading, $1/100 shares up to 500 shares, then .50 extra for each 100 shares over 500, i.e. $1/100 shares, $4/400 shares, $7.50/1000 shares. MB is direct acess, super fast with many fills better than limit entered. NO extra fee for phone orders, no long menus when calling, always a live rep fast. I could go on and on. MB also integrates with my trading platform QuoteTracker (which also works with Ameritrade, my backup broker). A couple years ago Barron's Magazine rated MB as THE fastest and most reliable of all the online brokers. FWIW.

[Pearlpam]

Hello traders
It is really very important part that to select a best broker which provide an discount.I am a hands on investor so I prefer to do things myself. This is not to say I want to handle every single minute detail, but I personally don’t need the services of an expensive account adviser for investment decisions. That’s why I prefer to go with more affordable online discount brokers over their more expensive full service cousins.

[stockpicker321]

I use Zecco because they offer 10 free trades if you make 25 transactions per month or maintain a $25,000 balance. Normally, their commission is still only $4.50. I've used Zecco for years and I'm very satisfied.