# Best online stock broker **URL:** \ **Category:** In My Humble Opinion\ **Created:** [March 20, 2014, 7:42pm UTC](https://boards.straightdope.com/t/best-online-stock-broker/684178 "2014-03-20T19:42:26Z")\ **Posts on this page:** 8\ **Page:** 2
**Author:** ![Joey\_P](https://avatars.discourse-cdn.com/v4/letter/j/919ad9/32.png) [@Joey\_P](https://boards.straightdope.com/u/Joey_P)\ **Post date:** [March 21, 2014, 5:45pm UTC](https://boards.straightdope.com/t/best-online-stock-broker/684178/21 "2014-03-21T17:45:39Z")
> [@Hirka\_T\_Bawa](#): > > The cost per a trade listed, is that a buy and sell, or a buy or sell? So for a site that has a $5flight trade (for example) do I have to make $5 or $10a to break even? As others have said, you’d have to make $10 to break even. But you also have to pay attention to how your website handles this. For example, Sharebuilder integrates the buy commissions directly into your Gain/Loss for that Company. So, the minute you buy a company you’re immediately down $6.95. Once I get to $6.95 in the black, I’ve broken even. Some places don’t do that. When you buy something it puts you at zero, so if your commission is $5, you have to hit $10 before you break even. No big deal either way, you just have to know which way it works. ---
**Author:** ![Chefguy](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/chefguy/32/138_2.png) [@Chefguy](https://boards.straightdope.com/u/Chefguy)\ **Post date:** [March 21, 2014, 9:01pm UTC](https://boards.straightdope.com/t/best-online-stock-broker/684178/22 "2014-03-21T21:01:26Z")
I use Scottrade, which has $7 fees per transaction (buy or sell). They’re fast, and they have a local office here in the city. You can do stocks or bonds on their site. It’s a good thing you don’t want anyone to help you, as nobody will look at you for a $1K investment. You’ll have to do your own research on stocks. I’d suggest picking something fairly conservative for starting out, like Boeing (BA), which is a strong buy recommendation right now. ---
**Author:** ![TimeWinder](https://avatars.discourse-cdn.com/v4/letter/t/bcef8e/32.png) [@TimeWinder](https://boards.straightdope.com/u/TimeWinder)\ **Post date:** [March 21, 2014, 10:16pm UTC](https://boards.straightdope.com/t/best-online-stock-broker/684178/23 "2014-03-21T22:16:42Z")
I’ve used a few of them, and most of the big names are pretty equivalent. TDAmeritrade is my personal favorite because their tools and offerings are so broad; they give you an excellent place to “grow into” as your skill and interests grow. But for such a small investment, which you’re likely to buy-and-forget, I don’t think it matters much. ---
**Author:** ![ThisUsernameIsForbidden](https://avatars.discourse-cdn.com/v4/letter/t/b4bc9f/32.png) [@ThisUsernameIsForbidden](https://boards.straightdope.com/u/ThisUsernameIsForbidden)\ **Post date:** [March 21, 2014, 11:57pm UTC](https://boards.straightdope.com/t/best-online-stock-broker/684178/24 "2014-03-21T23:57:30Z")
> [@Bill\_Door](#): > > Vanguard doesn’t work great for frequent traders because they give you 25 $4.00 trades per year, then raise the price to $20.00 a trade. Sharebuilder charges $6.95 a trade and doesn’t have a minimum balance requirement. Of course, once you have a $50,000 account everybody charges less, but it’ll probably take you months to build that up starting at $1,000. What broker charges less at 50K? ---
**Author:** ![ThisUsernameIsForbidden](https://avatars.discourse-cdn.com/v4/letter/t/b4bc9f/32.png) [@ThisUsernameIsForbidden](https://boards.straightdope.com/u/ThisUsernameIsForbidden)\ **Post date:** [March 22, 2014, 12:02am UTC](https://boards.straightdope.com/t/best-online-stock-broker/684178/25 "2014-03-22T00:02:34Z")
OP, 1K is not enough to play with for day trading, unless you plan on getting 10% returns, which is an unreasonable expectation. I suggest starting with 10K per trade, that way if you gain 1% for a trade, you have netted 100$, a significant portion of which (say, 10%) can go to brokerage fees for trading. There is a free trading platform coming up, but you have to sign up on the waitlist. Go [here](https://www.robinhood.com/?ref=6bXxbR): ---
**Author:** ![The\_Surb](https://avatars.discourse-cdn.com/v4/letter/t/ce73a5/32.png) [@The\_Surb](https://boards.straightdope.com/u/The_Surb)\ **Post date:** [March 22, 2014, 1:24am UTC](https://boards.straightdope.com/t/best-online-stock-broker/684178/26 "2014-03-22T01:24:41Z")
I like Charles Schwab. The fees are $9.00/trade (I think) but they do have some mutual funds that do not have a trading fee if held for 90 days or more and are only $100 to start. I have a checking account, brokerage account, and my IRA with them. That reminds me, I get the out-of-network ATM fee refunded on my bank card. I have been very happy with their customer service. There is (or was) a Schwab employee on the board. ---
**Author:** ![PunditLisa](https://avatars.discourse-cdn.com/v4/letter/p/4af34b/32.png) [@PunditLisa](https://boards.straightdope.com/u/PunditLisa)\ **Post date:** [March 22, 2014, 12:46pm UTC](https://boards.straightdope.com/t/best-online-stock-broker/684178/27 "2014-03-22T12:46:28Z")
With only $1k to invest, I’d look into low cost index funds. ---
**Author:** ![Bill\_Door](https://avatars.discourse-cdn.com/v4/letter/b/50afbb/32.png) [@Bill\_Door](https://boards.straightdope.com/u/Bill_Door)\ **Post date:** [March 23, 2014, 11:40am UTC](https://boards.straightdope.com/t/best-online-stock-broker/684178/28 "2014-03-23T11:40:32Z")
> [@ThisUsernameIsForbidden](#): > > What broker charges less at 50K? Vanguard stops raising the price to $20.00 per trade after 25 trades at 50K, but the big benefit is at 500K when you go to $2.00 a trade. At $1MM you get 25 free trades and $2.00 after that. Edited to add, that 25 $4.00 trades might have been an introductory special or something, I now see it’s $7.00 for the first 25 trades and $20.00 after that. [Previous page](https://boards.straightdope.com/t/best-online-stock-broker/684178.md?page=1)