This question is for the financial geniuses here at Sajha.  I have noticed there are some.

With the historic fall in the markets, I believe it is time to jump in and buy stocks.  But which brokerage account to choose?

I am a beginner.  I also have only couple of thousand bucks to invest at this time.  So, discount online brokerage is way to go for me.  Likes of Fidelity and Merrill Lynch are out of reach for me.  I am not sure how many trades I will make per month, probably just few to start with until I get comfortable. 

I did some research and three names stuck out the most.

Etrade - $12.99/trade, ranked #1 by Smart Money magazine, supposedly has very good research tools, plus first 100 trades are free.

TD Ameritrade - $9.99/trade, ranked #4 by Smart Money magazine.

Scottrade - $6.99/trade, ranked #9 by Smart Money magazine.

If you have experience with any of these brokerage firms, mind advising this neophyte on which one to go with? 

Thanks.

 

 

zecco.com is perhaps the cheapest, no-frills brokerage I've ever used: $4.5/trade (and believe me, I've used quite a few out there).  Their execution and the fills were pretty good but if you have any questions and need to chat with a live rep, then you can be prepared to uproot your hair with frustration.  Aside from that aspect, they're the best bang for the lil dollars you wanna shell out (for the novies).  Awesome part about it, you get 10 free trades a month too.  Next on the list, Trade King.  Have heard some really good reviews on them too.  Their commissions are $4.95/trade.  However, if you plan on trading more going forward (approx. excess of 60 trades/month), then try Interactive Brokers.  You may pay fees for the exchange, etc but overall, you'll save more dinero as the theory of economies of scale is put into play here.  And the best part, you could play everything from FX to treasuries on thier portal.

And, whats this about a good time to Buy?  Even the pundits don't know where the markets heading and I see all the soccer-dads and moms talking about this being the perfect time to buy.  Don't let the media fool you.  With a global depression looming and the Dow tanking triple digits every single day and with the Fed in a position to fall into a liquidity trap, it really seems to me that there is more downfall to come about.  Is this the Bottom of the Market?  Definitely Not.  Would we see a rally anytime soon?  A 100% NO.  How much further could the markets go?  If I knew that then I would be rolling along with Warren Buffet.

All the best.

Oct is free trade in Zecco as long as u have $2500 in yr account.

Jai Nepal

Anyone using Charles Schwab? How beneficial is it for your given situation?

trade - $12.99/trade, ranked #1 by Smart Money magazine, supposedly has very good research tools, plus first 100 trades are free.

I do have account in e-trade how do i get 100 trades free
It  is like buying shares.
I am completely new to it but interested in it
shares guru please advise
can you give me some links so that i can start my own research