Discount Broker Advice (Etrade, Scottrade, Sharebuilder, brokers)

[bignhfamily]

Can anybody recommend a good discount broker for a 1 time stock purchase? I have found a company that I feel good about investing in but my bank wants to charge me over $100 to broker the deal. My friends are telling me that for $10 or less I could do it online but I know nothing about online discount brokers. They seem to be set up more for people who are doing a lot of trading. Any advice?
Many thanks

[j_k_k]

Scottrade, I think, would do the trade for $7.

[davidt1]

Originally Posted by bignhfamily

Can anybody recommend a good discount broker for a 1 time stock purchase? I have found a company that I feel good about investing in but my bank wants to charge me over $100 to broker the deal. My friends are telling me that for $10 or less I could do it online but I know nothing about online discount brokers. They seem to be set up more for people who are doing a lot of trading. Any advice?
Many thanks

You sound like you won't be trading frequently. Find a broker that doesn't charge an inactivity fee. Look for one that has been around. I wouldn't be surprised if a few of them will disappear due to hard times ahead.

http://www.dailyreckoning.com/the-best-online-brokers/

http://www.broker-reviews.us/

[gvillager]

Originally Posted by j_k_k

Scottrade, I think, would do the trade for $7.

I second Scottrade.

[oleo]

Scottrade, Etrade, Charles Schwab

[Umbria]

I have Schwab and in speaking with them last week I asked if they were a discount broker and she laughed and said "NO!!!!!!!"

[oleo]

Originally Posted by MN2CO

I have Schwab and in speaking with them last week I asked if they were a discount broker and she laughed and said "NO!!!!!!!"

Of course they aren't going to advertise or say they are. They are a little more prestigious than Scottrade, E-trade, or Zecco. But they are still cheaper than employing someone to do trades for you at $50-100 a pop for commission.

How do you like Schwab? I have a friend who uses them and likes them, thinking about switching from the Trade.

[LongArm]

Schwab & Fidelity are two that blur the line between discount & full service brokers as they offer many of the same services/products as a full service broker and you can get guidance if you want it. However, they're still considered discount brokers.

If you want a "true" discount broker that provides all you should need (except advice) and is on the lower end of the pricing scale, I'd also recommend Scottrade.

[j_k_k]

Originally Posted by MN2CO

I have Schwab and in speaking with them last week I asked if they were a discount broker and she laughed and said "NO!!!!!!!"

How soon they forget. They essentially invented the mass-market discount house, pitching themselves as being there for the small investor. When the small investor got well entrenched, they started tacking on fees. I fired them in the early 1990s. That has cost them the custody of significant assets since.

[X-Greensboro Resident]

I recommend Sharebuilder (sharebuilder.com) through ING bank (INGdirect.com).