Recomend a Brokerage

[Tommouse]

Hey Everybody!! /Dr. Nick

I have a few stocks that I want to grab up. VMWare is splitting from EMC and I want to grab onto that before it takes off, as I bet it will. Problem is I just graduated College and I don't have too much to invest but I want to get started. So I'm looking for a discount brokerage, as I don't need advice or anything like that, I just need a window into the market. All I know of is eTrade, and I assume ATOT will know of many more places to check out, so here I am typing this post.

I have a couple G's to invest, so a low start limit is needed as well.

TIA :beer:

 

[LS20]

zecco is completely free
2.5g to open
all ordering options (limits , vtso, etc etc).. pretty fast executions

 

[Tommouse]

bumpy

 

[blipblop]

I can suggest to you either TDameritrade or SogoInvest/SogoElite. Check their websites out. I have an account over at Sogo.

 

[Pliablemoose]

Smart Money's 07' survey

I use eTrade, but they're really not a slim, trim discount broker any longer.

 

[Tommouse]

TradeKing is looking pretty good to me. Anyone have experience with them?

 

[compnovice]

Originally posted by: LS20
zecco is completely free
2.5g to open
all ordering options (limits , vtso, etc etc).. pretty fast executions

zecco is $0 min balance now...

 

[ppdes]

I started with Zecco 3 months ago and it has been problem free. Tough to beat free. I'm up 17.5% as well. Never realized how much the banks were ripping people off.

 

[sjwaste]

Originally posted by: Tommouse
Hey Everybody!! /Dr. Nick

I have a few stocks that I want to grab up. VMWare is splitting from EMC and I want to grab onto that before it takes off, as I bet it will. Problem is I just graduated College and I don't have too much to invest but I want to get started. So I'm looking for a discount brokerage, as I don't need advice or anything like that, I just need a window into the market. All I know of is eTrade, and I assume ATOT will know of many more places to check out, so here I am typing this post.

I have a couple G's to invest, so a low start limit is needed as well.

TIA :beer:

Be careful with the "picking up a few stocks" strategy. That's about the riskiest way to start, completely undiversified. But if you're just putting in a few bucks that you can afford to lose to learn how to play the game, go for it, that's definitely how I learned (and lost!)

Commissions will eat you alive with low dollar amounts. Since we don't know what you plan on putting up, I'll assume its small, so a full service brokerage is out of the question. I personally use Scottrade ($7 trades) and have for years. They're fairly barebones, but they'll buy/sell what you want when you want.

Other brokerages have popped up that are free/really low commission, like Zecco and Sogoinvest. I have no experience with either, but here are some of their claims. Zecco gives you free trades, up to 10/day or 40/mo, with no minimum (the $2000 someone else quoted is a margin minimum). Sogoinvest is $3/trade with $2500 minimum starting balance.

I might give Zecco a try myself, and if it works out, use it until they start charging commissions for all orders.

 

[DaWhim]

Originally posted by: Tommouse
TradeKing is looking pretty good to me. Anyone have experience with them?

I got my sister to sign up with it when they had the $100 bonus.

 

[wedi42]

if you have $3500 to open an account
check out: thinkorswim.com
they offer some really nice desktop software for free (you can even try it out with out an account)
competitive commissions, they will also match some others rates

 

[dr150]

I'm happy with First Trade's extremely competitive Commission Structure and service (they always answer the phone within 2 minutes). I have been with them for 9 years.

Solid all around.



I'd be wary of the Free/Super low fee "brokerages" that have popped up recently. As with any new business and a dangerously lean balance sheet, they ultimately will undergo growing pains....and at your expense when the sh!t hits the fan.

I'd go with an established broker that has worked its kinks out and has a well established customer service rep. I wouldn't put my hard earned cash with a too good to be true "Johnny Come-Lately" broker.

You pay what you get for.....If it's too good to be true, it probably is.....Buyer beware.

 

[erwin1978]

When zecco says $2000 minimum to open an account does that mean you can't use the initial $2000 to invest and must maintain a balance equal or greater than that? Let's say you invested and lost some money when you sold your stocks and now you have less than $2000 in the account - does zecco charge you fees or do you have to fund the account so it meets the minimum balance requirement?

 

[DaveSimmons]

> does zecco charge you fees or do you have to fund the account so it meets the minimum balance requirement

You'll have to read their fine print, but at other brokerages the choice is yours, fund or pay some low balance fee every month or quarter.