One important part of stock picking is choosing a stock broker. A stock broker or stockbroker is a professional broker who buys and sells shares through market makers or Agency Only Firms on behalf of investors. You should pick a stock broker based on your trading style. We will list below the top stock brokers to use for our style of trading. There are specific things you will want to consider when you are choosing a stock broker. The cost of commissions, ease of site use, flexibility of the trade platform, access to research, and quality trade execution are a few.
Interactive Brokers
These guys are the Number 1 Discount Stock Broker. We use these guys, and we have used them all. Our Style of trading is buying usually 100 to 300 shares for each of our stock picks. They charge .005 cent a share. That’s right only 1/2 a penny per share. So when we buy 200 shares of a stock it cost us $1. Compare that to other brokers like etrade and ameritrade. No comparison. Their stock trader workstation (where you buy and sell your stocks is very easy to use once you get used to it. We are not going to lie, it takes a little while to get used to, but once you do it is very easy to use. You wont find a cheaper stock broker.
- They offer great execution
- Only $005 per share | minimum per order $1
- NASDAQ quotes are free providing that you trade at least $30USD/mo worth of commissions. Otherwise they are $10/mo, level II quotes are $20/month
- EFT deposits are FREE, along with the first monthly withdrawal. Fees apply after first withdrawal.
- Requires $5,000 initial deposit.
# 1
OptionsHouse
Only $3.95 per Trade no stock limit. Optionshouse offers lots of trading tools like risk viewer, streaming charts and news, volatility charts, a probability calculator, Put and Call spread investigators and alot more. All tools are customizable, fast and easy to use. The OptionsHouse iPhone App allows customers to access and manage their account in real time, regardless of where they are.
- Efficient trading tools
- Only $3.95 per stock trade
- No account minimums. Minimum initial funding size is $1,000 for a cash account and $2,000 for a margin account
- No volume requirements, maintenance and inactivity fees.
- No fee IRA accounts
# 2
Zecco Trading
Zecco’s trading system uses simple web interface. You can easily enter and cancel orders. Zecco’s trading tools don’t offer some of the more advanced features used by very active trades.
Zecco is big on security — before placing new order customer will have to enter security key. The firm introduced new Firefox plugin, Zap Trade, which is a toolbar that stays visible on all pages and allows fast access to trading from customer account. There is also a new iPhone App which got four stars rating in Apple Store and provides convenient access to Zecco’s account but with no ability to trade.
- Stocks Trades $4.95 no limit
- Minimum to open account: $0
- Free dividend reinvestment
- Great online community
- No surcharge for large orders
# 3
TRADEKING
$4.95 per stock trade – no limit. TradeKing offers professional trading tools for stocks, options, ETFs, mutual funds and fixed income securities. This Stock Broker received a 5-star rating on its trading platform by Barron’s magazine. Some of the tools they include are MarketGrader Research Reports, Maxit Tax Manager, Probability Calculator, Profit and Loss Calculator, Stock and Option Screeners, Technical Analysis Tools and others.
- No minimums, maintenance or hidden fees
- Free real time quotes
- The greatest investor community
- Extensive educational resources
- Minimum to open account: $0
# 4
Choice Trade
At $0.005 per share, Choicetrade is a no brainer. ChoiceTrade provides two choices for trading: website-based and stand-alone, professional, advanced trading platform developed for day-traders. Both platforms are well-designed and provide just about everything you need as well as lots of advanced features most investors will never use.
- Very low flat-rate commissions – $0.005 per share
- No account minimum, maintenance or inactivity fees
- Investor community
- Powerful trading tools
# 5
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