Posted on 04 December 2011. Tags: cheap stock trading
Cheap stock trading is a necessity if you want to maximize your earnings. This is especially true if you are new to the world of investing or are starting with a small amount of money. Brokers can load you down with a lot of fees and commissions that will reduce your returns every time you trade. However, if you search carefully, there are some out there that charge very little and often have fewer fees than others. In some cases, you will even be able to make some free trades after you begin with a specific broker.
TradeKing is a decent place to engage in some cheap stock trading. It does not have the lowest prices when compared to some other brokers. The typical charge for a trade is $4.95, which is better by far than most but not the lowest possible. However, the excellent customer service, available 24/7, will help keep costs down even more because you will never lose money while you wait for assistance with a technical problem.
Scottrade charges $7 per trade. This is more expensive than some and nearly as high as some of the most expensive brokers. However, as with TradeKing, you can ensure cheap stock trading because of the excellent service that they provide. You will need a minimum balance of $500 to trade with this broker.
Choice Trade only charges $5 for each online trade. This puts it in the ranks of the least expensive brokers online or anywhere else. In addition, this broker does not charge any fees for penny stock trading. This is very rare and allows you the opportunity to invest in these exciting stocks without penalty. Using a broker like this is part of the best cheap stock trading strategy.
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