Which firm for a beginner?

Discussion in 'Retail Brokers' started by JPDG, Mar 25, 2010.

  1. JPDG


    Hey all,

    My name is Jay and I'm looking to start trading this summer when I get a little more free time. These past few months has been a lot of reading forums and books. I'll soon be starting on a simulator and then jumping in for some trading a bit later on. I was curious though, which brokers are good for beginners in regard to low fees? I won't have much starting capitol, which means I'll have to primarily swing trade, but I know that fees can really add up when trading. Starting capitol is around $5k to $7.5k.

    Thanks! -JPDG
  2. i use tradeking fees are 4.95 per trade, quantity doesnt matter. i searched allot through various review sites before i started my account with them, ive been trading pretty much everyday for the last 8 months and havent tried any other brokers so i cant really say good or bad for any other brokers. however they do rape you if you try and trade penny stocks. (which i have learned to stay away from regardless of the fees) which i was doing with blockbuster when it was trading around a $1. I pretty much what i do is swing trading also. another thing, if you place more then 25 trades a month they give you streaming 1min charts an quotes. im just getting into options so not sure if their price for options is better or worse then other brokers. ive thought about going to a more expensive broker for advanced software but just havent looked into it yet. one other nice thing is they offer live chat all day with a rep which is nice for all the questions you will have when your a newbie. you should post who ever you do go with though, im curious about what others offer
    your lucky you found this site, i searched for a site like this for a while anjust found it a week ago, theres a huge amount you can learn from past threads