FAQs


Q: What is the best online trading site for me?

I’m an 18 year old guy trying to learn a bit more about the stock market and trying to make a little extra pocket cash with $1000. What do you think would be the best online account (minimal fees and small/no required initial amount) for me to use? $15 per trade will eat away at that $1000 fairly quickly so any suggestions would be greatly appreciated. Thanks for your input!

A: There are several possibilities . . .

I’ve been looking for a while, and I came across 4 that are very good:

Scottrade
Sogotrade
Zecco
Optionshouse

Scottrade has branch locations around most major cities but their commissions are higher than many other brokers. Sogotrade offers a better commission except their tools especially the screener could use substantial improvements. My account is under Zecco. They offer 10 free trades a month with 25 trades, $4.50 otherwise. My trading skills have skyrocketedsince I began trading through them because of theironline trading community. Its easy for anyone to find the most recent picks from the best traders, just look up the highest ranked players and click on their profile. If you choose Zecco, they pay you $75 for every person you refer. Optionshouse is another discount broker at 2.95 per trade, but they don’t offer an online community.

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