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1. Zecco
Zecco is one of the best discount online stock brokers around. It is possible to not pay any commissions at all using this broker. They offer 10 free trades a month with an investment of $25,000 or more. If you go over the 10 free trades a month or simply cannot open up an account with $25,000 or more it is just $4.5 a trade which is still pretty cheap.
2. Thinkorswim
I use Thinkorswim for my trading. They offer an excellent service for stock trading and are very inexpensive when it comes to trading options. Stock trades can get as low as $5 and as high as $7.5 depending on the number of shares you buy. Option trades can get as low as $1.50 which makes this broker beloved by many options traders.
3. Scottrade
Scottrade definitely has a large advertising budget as you can see their commercials and advertising all over the place. And they do offer a pretty cheap brokerage service, $7 a trade. You also only need $500 in order to open up an account which them which is very nice because you don’t need to save up a lot of money.
4. Tradeking
Tradeking offers $4.95 trades and $.65 option trades. Though I’ve never used them personally I have heard great things about their customer service.
5. Optionshouse
Optionshouse is definitely one of the low commission stock brokers charging as little as $2.95 a trade. Worth looking into if you are actively trading the market.
6. Sharebuilder
Sharebuilder is great if you are going to buy and hold stocks for the long term. They have three different types of plans.
• Basic – offers $4 trades • Standard – offers 6 free trades a month and $2 trades after that. But they do charge a $12 monthly fee • Advanced – offers 20 free trades a month and $1 trades after that. But they do charge a $20 monthly fee.
Unfortunately if you are going to actively trade stocks in real time it cost $9.95 a trade making them the most expensive broker on this list.
Final Words
These are the best online discount brokers to choose from. Remember getting into a cheap broker can save you a lot of money, especially if you are actively trading, so take the time to research now in order to save money later.
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