Looking for a cheap broker for a small-time trader

Discussion in 'Retail Brokers' started by spdracer22, Jun 1, 2006.

  1. I currently have an account with Firstrade that I was able to open with just a couple hundred $$ to start learning about the stock market. A year later, I have more cash, and I can make some bigger purchases, but I'm still only trading 25-40 share blocks in sub $10 stocks. My problem is that even though the commission is relatively low compared to some other places (it's $6.95 per trade, so $13.90 to buy and sell), even on a block of 40 shares, it takes a move of $0.35 to become profitable.

    I'm looking for a broker that I can open an account with with a minimum deposit of less than $2000 that has either a really low or a per share commission. I checked out MB Trading, and they require a minimum income of $50k/year, min net/liquid worth of $50k, etc, and being a college student, I don't meet those requirements. (I would just check the box anyway, but I don't know what the legal ramnifications would be if someone was able to find out...???)

    So...does anyone have any suggestions??
  2. Thanks, mods, for moving this for me.