Where can I find a quality stock broker?

Answer 1

There are a lot of good brokerages depending on what you like and how you trade.

Barron's has a great article on brokerages that they publish each year. (Latest one was in March 6, 2006). Kiplinger does one too.

Here’s the link to the Barron’s article.
http://webreprints.djreprints.com/1550280182488.html

Here’s the link to the Kiplinger’s July 2006 article which isn’t bad either.
http://www.kiplinger.com/magazine/archives/2006/07/brokers.html


For basic stuff, E*Trade, Ameritrade, and Scottrade are sufficient. For more complex trades, I'd recommend Optionsxpress, ThinkorSwim, or interactivebrokers.

Based on what you put in your question, I'd recommend one of the first three, but all are very good. Cheapest probably is scottrade (of the larger online firms). Yes there are cheaper like interactivebrokers, but you'll have to get used to their software based platform (which is doable). They're only about $1/contract on options!

Brokerages like Fidelity are horrible for anyone with any decent experience.

So, decide what's important to you as a trader and compare the brokers! You can use the article, or go to each website as they all seem to have comparison charts!

And if there are particular things that you want to mention as being most important to you (such as executions, cust svc, cheapest trade, flexibility on allowing you to do certain types of trades, stop and stop limit orders, contingent orders, great graphing, what if scenarios, training, etc), I'll be glad to help discuss this with you too!

If you have any questions, let me know.

Hope that helps!

Answer 2

Stock brokers are no different than any other profession. Some are good and some are bad. Suggest you check with friends, coworkers, neighbors, relatives who may have a stock broker and see what their experience has been. You are looking for someone who cares about you and your money. Someone who takes an interest in your investments and tries to maximize your returns instead of beating the bushes for the next commission check. Ask this simple question: Does your broker stay in contact with you and how often? Too many people sign on with brokers and after they get their commission checks, never here from them again. The market is constantly changing. Your situation is constantly changing. You need someone who has a track record trying to stay on top of those changes and providing a service that's best for you. Do your homework!

Answer 3

look in the mirror....open up an account with a low-cost broker and then go to school. Brokers are incented to churn your account.

You should generally divide up your assets between equities and bonds. I would not recommend anything in the bond world beyond 3 years as interest rates are really low. So split your money 70% in equities and 30% in 3 year corporate bonds of good quality.

Charles Schwab is a good compromise...cheap and you can get some advice.

Answer 4

I have both full service and electronic accounts. I would suggest Scottrade for an e account. This requires that you do your own due dilligence. But, there is so much info available, that shouldn't be too difficult. The full service guys offer 'suggestions'. However, the info they use to make these analysts suggestions is pretty much available to all. The only reason I keep my full service accounts is due to 'friends of the family' circumstances. Except for that, I'd move all my business to Scottrade. Good luck.

Answer 5

It is best to look for a discount broker less commissions.

Answer 6

TD Ameritrade.

Answer 7

Talk to people you know and trust - family, friends, coworkers, etc. See who they use and then check up on them at nasdr.com.