Ok, being a new trader I finally realized how much commissions hurt. I'm looking to switch to a good brokerage with good comission prices. Currently, I hold an account at www.murielsiebert.com (http://www.murielsiebert.com). Their commissions are $15 dollars. Also, they restrict the amount of shares that you can buy. This is another thing that I do not like. Could some share with me your experiences with your brokers so I can get an idea of who I want switch my account to? Thanks.
Justin,
Great posts first off ;D.
Secondly...use the search feature on this sight ::),(right underneath your user info) to search for brokers...you'll get this thread:
http://www.3stocksonfire.org/trading/index.php?topic=230.0
search works really well.
-g
Justin check out ........www.lowtrades.com
I think they have trades for 5 bucks, limit or market
and penny stocks are not treated different. 8)
SCOTTRADE if you want quality.
MB Trading if you want value.
I use Ameritrade $10.99 each way regardless of volume or if OTC etc. There is a trade off between super cheap and good quality (by that I mean speed of execution / fills, tools, etc). Ameritrade provide me a lot of tools and resource for free which I utilise. My opinion is that a $21.98 roundtrip trading cost is a very low effective business expense.
There is a ton of choice out there.
Mike
I use http://www.interactivebrokers.com. Unbeatable data quality and execution speed (IMHO). Different trading platforms, 50+ markets. Nothing is for free, but price is reasonable. Also works perfectly with TA software like Medved Quotetracker, Amibroker etc.
Fully agree poiss,
i checked a couple of brokers and finally landed at IB. There may be others which are a cent cheaper, but the price/service ratio seems to be best at IB.
I can recommend IB without doubts.
Regards
andyman
Scottrade charges a premium for stocks under $1.00. Keep that in mind with Scottrade. I am currently opening a lowtrades account for the penny's, but Scottrade is only 7 per trade above $1.00.