discount brokers

[nvrgivup]

Hi everyone, i hope these questions are not overdone,but here it goes.Does anyone have good expirences with certain discount brokers,I'd like to know which ones and why you like them. I've been looking at some and trying to compare them. I know the best one for me might not be the best one for you, thats one of the reasons im seeking advice.( trying to cut thru all the bull)I plan on only investing 1 to 2 thousand dollars to start so one that has low min. would be good. i also dont plan on trading to often ( im a novice so I'll be going slow)so inactivity fee's would hurt.Just wondering how other people are liking there brokers and who and why they picked them. Thanks in advance ,Tony

[dczech09]

I have used Scottrade as my discount broker. They give you all the resources that you need and are reasonably priced. I will actually be closing my account with Scottrade probably within a year and open an account with Fidelity. I am looking at this because I am beginning to realize that investing is single stocks really does not work too well for me and I would be better off using ETFs; Fidelity offers ETF trading with $0 commissions which is extremely enticing.

If you're looking at doing some individual stock investing, Scottrade is a good bet. However, be aware that the average person who trades single stocks through a discount broker makes about 8% return per year (on average). That number will be much lower if you trade a lot because the commissions will eat your returns.

[disneysteve]

I plan on only investing 1 to 2 thousand dollars to start so one that has low min. would be good. i also dont plan on trading to often ( im a novice so I'll be going slow)

I'm also with Scottrade and happy with them.

I'm curious about your situation, though. Where will this money fit in your investment portfolio? It sounds like you may be just starting out. Do you have your emergency fund? Are you contributing to your retirement plan? Dabbling in stocks is fine but only once your foundation is built.

[Slug]

I'm with Ameritrade (formerly Datek). They have good customer service and I like being able to buy corporate bonds, stock, and options all in one place. I also have a Schwab account because of the free ETF trading mentioned earlier regarding Fidelity.

[tulog]

I like Lightspeed.

For most trades (except for stocks under $1) it is much cheaper.
100 shares of a stock at Lightspeed is usually 40 cents, compared to $4.50-7.50+ commissions elsewhere.

There are two options for trading at Lightspeed, Web Trader (for anyone), and Lightspeed Trading (a near-professional platform).

[gambler2075]

I have both Etrade and Bofa. Bofa has 5$ commissions for me, although it may depend on account balance. Etrade has the Power ETrade Pro platform that I like, and is for more serious traders than Bofa.

Etrade has more delayed fills on penny and sub-penny stocks, but I do prefer it for more hardcore daytrading... I just looked and I have actually spent 30,125$ in commissions with them this year, so I guess they like me, lol...

g