Online Discount Broker
Another way to go though is with an online discount broker, and the lists of brokerage houses online are endless. So, let's go onto scenario number two: 2) I've been day trading for a while and know what I'm doing. I need an online broker who can place my orders with minimal fees, and who provides excellent investment software. In short, you are ready for an online discount broker. There are tons of online discount brokers, and the trick is to find the house that is best for you. In the next coming weeks we will review a number of brokerage houses in this area. There are many factors to pay attention to: international markets covered by the brokerage house, commission fees, customer service, minimum account balance, and more. Today we are going to review the top no frills online discount broker. Yes, you guessed it. We are talking about the bare boned Scottrade. Scottrade is perfect for the investor that knows what he / she is doing and does not need any hand holding along the way. For professional day traders, Scottrade is often a perfect match. The commission at Scottrade is low, at only $7 a trade, and the opening investment is only $500. With a little cash, you can already start moving. In addition there are no maintenance or inactivity fees and with 294 branch offices, those of you in the United States have local professional ready to take your calls. Newbies may not want to start with Scottrade however, because there is less attention paid to research tools and additional services.