No two stock brokers are the same and there are quite a few choices for you to look at.  You should look at features like commission on stock and option trades, customer service, trade tools and research, trading community and trading options, to name a few considerations.

You must also take note that each online stockbroker has specializations or niches.  For example, TradeKing is best for online traders while Scottrade offers the option of local offices.

Your choice depends on your trading needs, not anybody else’s wants. Of course, you can keep accounts with different brokers to satisfy your different trading needs!

TradeKing

When it comes to TradeKing, there is no minimum balance requirement.  The $4.95 lowest transaction fee is very reasonable although it must be emphasized that an additional fee of 0.01per share is imposed on stocks valued under a dollar.

On the bright side, TradeKing does give you the option of broker-assisted trades for $4.95 for every trade executed.The savings due to no extra inactivity fees will be to your liking.

Scottrade

As previously mentioned, Scottrade are for traders who want the option of local offices for personalized service.  Its lowest transaction fee of $7 is offset by the fact that a $500 minimum deposit is required.

This brokerage deals with Pink Sheets too but the trades need to be executed with the help of a broker and the fees would be greater if the stock price is under $1.IVR Touchstone trades are charged at $17/transaction.Thank goodness, there arent extra fees levied.

Charles Schwab

Considered the granddaddy of discount brokerage houses, Charles Schwab firm is surprisingly on the expensive side.Though TradeKing and Zecco let you get away with a no minimums, this broker requires a $2500 or $2000 balance for IRAs.

Extra fees of $12 will also be charged.50 per quarter on accounts that fall below the minimum.  Indeed, when you start to compare stock brokers, keep in mind that Charles Schwab brokerage takes plenty of money to use.

TDAmeritrade

A top-rated online stockbroker for many industry organizations, TD Ameritrade firm requires a minimum deposit of $2,000 although IRA accounts require half of that amount.  There is no catch to the minimum deposit although telephone IVR trades are charged a flat fee of $34.99 per trade.

Its $44.$99 fees on broker-assited trades is definitely on the higher side in the world of brokerages.Additional charges on statements and trade confirmations in the US will be billed at $2-5 each.

Zecco

If you are an infrequent long-term trader, then Zecco is the right choice.With the broker Tradking, you dont have to maintain a minimum balance and there are transactions that dont have any fees associated with them.

Dont forget,.There is a minimum trade volume of 25 monthly, out of which the first 10 are free.Once you have used up your free trade options, you will be charged a flat rate of $4.50 per trade is imposed.  This is equally true if you maintain a $25,000 balance.

When you compare stock brokers, you will begin to see small and large differences in the fees, services and fine print by all these firms.Make it a point to check the differences to get the best bang for your buck.  In the end, you want an ally in your side when building your wealth as a stock trader and investor.

Whether you are looking for discount stock brokers or want to invest for a slightly longer period, it all starts with the best penny stock broker.