Best Stock Brokerage For New Traders

August 2009 | Categorized in Brokerage Education

If you are new to trading, then trying to find the perfect stock brokerage can be hard to do. Honestly, there is no such thing as the perfect brokerage, so the key is to find something that meets most of your needs and remember that at any time you can easily close your account and move elsewhere.

The one constant in trading the financial markets is that you need a brokerage to do it. Whether you buy long, day trade, or short, you need a stock brokerage to do it. Usually the hardest move to start trading stocks, is to open an account.

Which brokerage has what I need? Is the price structuring fair? Does it have the tools needed to help facilitate my trading as well as any growth? The answer to these questions is what ultimately determine if a stock brokerage is good for you or not.

The brokerages in the list below all have low account minimums, great tools and support, and the ability to grow with you.

The following is a chart of the best online discount stock brokerages for new stock traders.

Broker	Commissions (stocks/options)	Acct. Minimum	Best For
TradeKing	$4.95 / $4.95+.65 per contract	$0	Everybody
Zecco	$4.95 / $4.95+.50 per contract	$0	Everybody
TD Ameritrade	$9.99 / $9.99+.75 per contract	$0	New, Long-term
OptionsHouse	$2.95 / $9.95	$1000	Everybody
thinkorswim	$9.95/stock trade (5000 shares max) or $.015/share (500 min)	$500	Everybody
E*Trade	$12.99/$12.99+.75 per contract.	$0	New, Long-term
Scottrade	$7/$7+1.25 per contract.	$500	Everybody