| Finding the best online stock broker is a big decision | | | | - Commission (or cost) per trade - Beginning |
| for you to make right at the beginning of your online | | | | investors are likely to invest in small amounts until |
| trading activities. The one you choose will be very | | | | they gain experience and start making consistent |
| important to your overall success as a trader. Luckily, | | | | profits. For them, it is important to have cheap online |
| there are a several high-quality brokers out there for | | | | trading. Among discount brokers, costs range from |
| you to choose from. | | | | free to $12.99 depending on certain conditions. |
| If you keep your comparison to well-known online | | | | - Minimum account balance - A beginner is likely to |
| stock trading services, you should have all the tools | | | | start small, not wanting to deposit too much money |
| and support you need as a beginning trader. And you | | | | in their account. Within this group, the limits range |
| can always move your account from one to another | | | | from none at all to $2,000. |
| with relative ease if you want to. | | | | - Introductory offer - Most online brokers have a |
| I suggest that beginners choose from the group | | | | special offer to entice new subscribers. These can be |
| known as "discount" brokers. This includes big names | | | | helpful, but shouldn't determine your decision. |
| like E-Trade, TD Ameritrade, Scottrade, TradeKing | | | | - Account cancellation fee - At some point in the |
| and Zecco. More experienced investors will choose | | | | future, you may want to cancel your account and |
| from services like Fidelity, Schwab and Vanguard. | | | | move to another online broker who is a better fit for |
| These brokers target investors with a large portfolio | | | | your trading style. You should know what that is |
| (like $50,000) who are doing more than just stock | | | | going to cost you beforehand. There are many ways |
| trading, but also move around large sums in mutual | | | | to compare online trading brokers. For beginners, it is |
| funds, managing their own retirement accounts and | | | | recommended that you focus on the discount broker |
| making other, large investments. | | | | category. This can be your first step to getting your |
| A beginning trader should compare online trading | | | | online trading started right. |
| brokers for the following: | | | | |