For anyone new to investing I always recommended OptionsHouse for their quick trade executions and and their low trade commissions. Having used ShareBuilder, Scottrade, Vangaurd, Fidelity, WellsTrade, OptionsHouse and Zecco, I found OptionsHouse a better choice for a frugal investor.
Zecco seemed like a good option when they were offering 10 free trades a month for a $2,500 balance. But soon then they pulled a bait-and-switch and upped the limit to $25,000! Trades with OptionsHouse are a flat $2.95. Which I think is probably one of the lowest with the least amount of strings attached.
But that was not to be! OptionsHouse sent an email to all its members that they are raising their stock commission rate to $3.95 starting Jan 13 for new customers. Still better than the rest, but tactics like this makes me wary!
Like Zecco, but different!
When Zecco pulled a bait-and-switch, people were livid as was apparent from their message boards. But with OptionsHouse, they are going to offer the same price of $2.95 for existing members! I have to give credit to OptionsHouse for doing this!
But I believe if you do sign up before Jan 13, 2011, you can lock in the $2.95 rate. If you sign up after, the rate is still one of the lowest at $3.95.
You can read my detailed 2 part review of OptionsHouse including a slideshow for the impatient!