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With all the brokers out there, it can be a very extensive job to find one that is most suitable. There are many significant areas to consider. Firstly is the cost for each trade. This can vary massively between brokers. I have seen brokers charge .95 for a stock trade and I have seen other brokerages charge 0 per trade. Most are somewhere in between.

 

Amongst the cheapest brokers are Zecco and Tradeking. To find out more about zecco, check out this review of zecco. To find out more about tradeking checkout this tradeking reviewed.

 

Another important factor that may be worth considering is the charge a broker makes for broker-assisted trades. This is when you telephone the brokerage firm and place the trade on the phone. Some stock brokers have no extra fee for this, whilst some charge many times more for trading in this way.

 

How much money do you have to trade? Do you have enough to satisfy your brokers minimum account size. This is another consideration. Some brokers have no minimum account size whilst others have high minimums that need to be met to have an account.

 

Now this one I hate the most. Hidden charges. Many stock brokerage frims have charges that are not always obvious. A moderately common fee stock brokers make are inactivity charges. This often a fee charged every 6 month period when you have not made a trade on your account. Fees like these are not neccesary, it's just plain greed. Personally, I would not use a broker who charges such fees.

 

Do you trade on margin a lot? If this is the case, the margin rates could be very important to you. They can vary greatly between different brokerage firms so it will probably pay dividends to shop around a bit.

 

There are many brokers to choose from. Looking at several deep discount stock brokers is always a good idea before making your final choice.

Tags: stock broker, tradeking review, zecco review