broker for small account

D

danmb280

Im looking for a recommendation which broker to open an account with.

I would like a broker that will let me open an account with $1000 and charge commissions per share and not a flat rate.
They should also offer a decent free charting software and preferably offer options as well.
My basic goal is to open a trial and error account for trying strategies without software fees or high flat fees that will eat up any profits on such a small account.

I know that's alot to ask for but does anybody have a recommendation?

Thanks in advance
 
Doesn't exist as far as I know - you've got:

- IB - your account is too small
- MBTrading - doesn't offer charting software
- Thinkorswim - great platform (especially for options) - they have a stock fee of 0.015 per share BUT they have a $5 minimum (as opposed to IB's $1 minimum).
- Fidelity/Schwab/Scottrade - all the same - per trade pricing.

My advice - consider splitting the functionality. Anyone else got any recommendations?
 
Quote from danmb280:

Im looking for a recommendation ...
1. a broker that will let me open an account with $1000 and charge commissions per share and not a flat rate.
More...
(fyi, "pdt" rulehttp://individuals.interactivebrokers.com/en/trading/marginRequirements/margin.php?p=d&ib_entity=llc)

2. ...offer .. decent free charting software
3. .. preferably offer options as well.
4. .. open a trial and error account for trying strategies without software fees or high flat fees ..
...anybody have a recommendation?
More...

Hi danmb280,

Depending on other business requirements you may have, since QuoteTrader is free, installing it to see how it complements your other decision support and trading tools, might make sense.

Depending on the asset class(es) you're going to trade, you can open and fund an account at either:
- TD AMERITRADE (equities, options)
- Interactive Brokers* (equities, futures, options, forex)
- OANDA** (forex)

These three brokers' data and trading services are all supported by QuoteTrader, and all provide historical data through their API. That means you can get free charts, DOM, FX dealing box, quote page, and account window - plus access to global research, fundamental information, and news.

If you'd like more information, please visit http://www.quote.com/quotetrader, the online video library, or email trading@quote.com

Thanks,

Brent Threadgill
QuoteTrader Product Management
http://www.quote.com/quotetrader
trading@quote.com

*with IB, you need $10m to open an account, although their lower mins for IRAs, minors and advisors. However, they have a public simulated account, and if you do have an active account with them, they have a realistic simulated, or "paper trading" service you can use while learning how to use the software.

** OANDA has a realistic simulated environment too, and no minimums
 
Quote from Daal:

mbtrading with Quotetracker for charts
More...

mbtrading (they WERE my secondary broker to IB) is now on my bad list, with several hours of downtime during Fed day (and a prior day) last week and no explanation or comment - just pulled funds and moved over to thinkorswim (bad name, great trading platform). Thinkorswim has great free charting, support, and training with average commissions. IB has great commissions/executions, bad charting, larger minimum account, bad customer service.
 
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