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How to Buy Stock Cheap

Updated on November 4, 2009

Buying Cheap Stocks

When buying stocks cheap you have to take into account the fees associated with your purchase.  There are still a lot of brokerage companies that charge over $20 per trade.

Large full service brokerages charge such high rates that unless you have no knowledge of stock investing it makes no economic sense to use them.  A few discount brokerages charge so little that its hard to believe they are in business.

Discount Brokerages

There are many discount brokerages out there, the one that I am going to recommend are ultra cheap, have some research tools but are mainly used by investors that know the stocks they want and don't want to pay high fees.

1. SogoTrade.com - No minimum balance, $2.50/trade, excellent research tools, bad on its customer service as they expect you to be an experienced investor and not need to contact them.

2. Lowtrades.com - No minimum balance, $4.50/trade, horrible site to navigate and very few research tools but cheap.

3. Tradeking.com - No minimum balance, $4.50/trade, great research tools and customer service.

Conclusion

You have some options when buying stocks at a discount.  Many discount brokers charge over $10/trade.  You should stick with the very low priced brokerage if you know the stocks your planning to buy.  You will save a lot of money especially if you trade actively.

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