Which Broker is Best for Me?

[Baker 10]

i cant decide which broker to use. i only have $1000 that ill be trading with and i plan on trading stocks that are $10 or less per share. ive been looking at scottrade and ameritrade, but im not sure which to go for. the $10 transaction cost is going to be rough on me, but from what i understand there are more stocks that can be traded through ameritrade?

[Obsidian 10]

did you check this section? Brokers and Data Feeds - Traders Laboratory

[Baker 10]

did you check this section? Brokers and Data Feeds - Traders Laboratory

i did not. sorry about that, will do.

[Patuca 13]

Check out Lowtrades.com and Just2Trade.com. The former charges $4.95 comm and the latter $2.50. There is no min amount to open a cash account for Lowtrades. For a margin account you will need 2000.00. For Just2trade I think you need a min of 2000.00 or 2500 to open a margin account but comm are 5.00 roundtrip. I trade futures and stocks and have maintained my stock accounts with both Lowtrades and Just2trade for years. Both are branches or depts of Successtrade.com.

 

So here you got 3 choices: Lowtrades, Just2trade, or Successtrade.

[Baker 10]

do all brokers have access to all stocks on the NYSE and NASDAQ? i was under the imrpession that some brokerages dont allow you to trade some penny stocks.

[khamore1 10]

You cannot trade on margin if a stock is valued under $5. I’m not sure if it is a brokerage regulatory or government

 

I cannot advice you which broker to get but I strongly advice you against using AMP

[Patuca 13]

do all brokers have access to all stocks on the NYSE and NASDAQ? i was under the imrpession that some brokerages dont allow you to trade some penny stocks.

with lowtrades and just2trade you can trade penny stocks under 1.00 share up to 100,000 shares I believe it is for the same comm fee. You are allowed to for instance to buy 10,000 shares of XXX company in the morning and sell it the same day and the next day your funds will be available to you again for trading (in a margin account under 25,000). What you cannot do is make multiple buy and sell of the same company, the same day, unless you maintain over 25,000 in your account. both brokerage have nasdaq and NYSE stocks. If you have a cash account then you cannot have the funds av ailable for trading the next day as mentioned above. You have to wait the entire time until settlement date. I have found no other broker that allows you to trade the amount of penny stocks for the fees Just2trade/lowtrades charges. if trading pennies is what you wish to do then I would suggest considering either of them.

[ElizGordon 10]

my broker is aaafx..low slippage, low spreads and totally fast exacution

EU regulated as well :cool:

[samuel23 10]

This is an interesting question as we need to know our broker well before setting up an account. From my part, i would advise to check well if this broker is really reliable. For instant you can check out the customer support dept and bombard them with questions concerning the platform. It is important to know where we are placing our money and this is why we look for the best broker. There are indeed good broker but you will have to find it yourself instead of taking someone else broker as yours!!