So, you have decided to take that first step into trading?

Aug. 24, 2010 - PRLog -- So, you have decided to take that first step into trading, but don’t know where to start?

You’ve come to the right place, as we will show you some things you may already know as well as some ‘secrets’ that we’ve discovered that most people aren’t familiar with them, especially in the small cap / micro cap world.

Let www.mybestpicksever.com Help you decide, Take a look at some key points we provided for your research..

When you have decided that you wanted to get involved with trading of any kind, you must find a broker that you feel comfortable with. But with so many brokers out there, how do you choose? Well, there are always some key factors that you should take into consideration when choosing a broker:

Commission

o How much does the broker cost per transaction?

o Is there a discounted rate if you trade over a certain amount of shares?

o Is there a ‘per share’ cost?

o If there is a symbol on the company’s restricted list forcing you to call it in, is the
commission higher as you would have to deal with a sales rep directly?

o Is there a share limitation?

Speed

o How fast does it take to get your trade executed?

o Does your online broker

Fees

o Is there minimum deposit required?

o Any maintenance fees on the account if it falls below a certain amount?

Software

o Do you need to download any software to your computer?

o Can you access your account from your mobile phone?

Customer Service

o How is the customer service? Do they have knowledgeable people supporting their product, or do you keep getting transferred to other people who transfer you again?

o How long is the typical response time? Instant? 5 minutes? 1 hour? 1 day? Multiple days?

Other products

o Does the broker allow you to trade options?

o Mutual funds? Bonds?

What kind of tools do they offer?

o Level 2 for OTC / BB / Pinks?

o Live streaming stock quotes

o Real time market data / news?

o Graphing?

o Stock screeners?

What are the margin rates? Interest rates?

o If you trade on margin, what is the marginal interest rate?
Is it a reputable company?

o Have you heard of them before? If not, how did you find out about them?

o Any user reviews on the sites from other users?
Pre Market / after market hours?

o Do they allow you to trade pre market or post market hours?

Any guarantees?

o Some brokers online are not reputable and may run away with your money. If they are SPIC insured (Securities Investor Protection Corporation) then they are most likely a reputable company.

Once you have these out of the way, you are ready to start looking for an online broker to use. Do not get discouraged, as there are so many out there. I will list a few that I know from my personal trading experience.

If you are US Based trader, here are some great sites for you to consider based on my own personal experiences:

www.Zecco.com

PROS

Low minimum deposit (I believe it is $500)
No inactivity / maintenance fees
$4.50 commissions (get 10 free trades if you do 25 trades per month)

CONS:

Customer service staff lacks knowledge of anything
No tools provided

www.etrade.com

PROS

Multi level markets (foreign exchanges, pre market / post market access)
Great research applications (has one of the best stock screeners I know of)
High trading fees (unless you are considered an active trader)

CONS:

Horrible customer service / support
If you don’t make a minimum amount of trades per quarter, you get charged a maintenance fee
Slow execution time (from my personal experience and from those around me)

www.tdameritrade.com

PROS

Very helpful and attentive customer service staff
Straight commission schedule (no per trade / per share fees)
Low minimum deposit amount
Good platform off the computer (app on droid / iphone)
Good research (think or swim)

CONS

Commissions can be high if you are not an active trader
Slow in receiving shares from splits / mergers
Lacks in penny stock research abilities (screener is good, but not great)

www.schwab.com/

PROS

Easy to use website
24 / 7 customer service support staff
Multiple banking services / investment services
Well known worldwide

CONS

High commissions (per share charge over 1000 shares)
High minimum investment
$1,000 minimum balance must be kept in your account at all times

www.mybestpicksever.com
www.scottrade.com
www.TradeKing.com
www.fidelity.com
www.sogotrade.com
www.ceocentral.com

Please Join us at http://www.mybestpicksever.com

# # #

A new revolutionary form of Penny Stock trading is here Its called honest up front information provided to you by MyBestPicksEver.Com. a company brought up on integrity, honesty, and pure communication. We are here to provide the very Best picks ever