Our Favorite Brokers For New Stock Traders

– What’s up, Tim Sykes
here with the lead trainer of Stocks and Trade, Tim Bohen. This is Trading with the Tims and today’s topic is all about brokers. What are you favorite brokers? – You know, I’m guessing
most of the viewers are newer brokers, or traders so I’mma start with something for you guys. We’ve recently at StocksToTrade
partnered with Tradier. Which is a great broker for the new trader because we’ve got this
deal with StocksToTrade. If you sign up with StocksToTrade and trade through our platform Tradier has unlimited
trades for $15 a month. Now, most of you are probably
gonna be under the PDT but keep in mind that means you’re still makin’ three trades a
week, maybe more if you’re goin’ overnight.
– Three day trades. – Three day trades a week, correct. And so, and then maybe you’re
even overnighting on trades. So you might be making
12, 15, 20 trades a month. That really adds up in commissions if you’ve got a small account with Tradier with StocksToTrade, you’re paying 15 bucks a month, flat rate. I think they’re the best
broker for the new trader. – For me, I don’t wanna trade that much. Commissions are negligible.
– True. – So I use E-Trade and Interactive Brokers – Both great, yup. – Both–
– Love Interactive Brokers. – Both big companies, I’ve really gotten kind of
safe and boring in my old age, in my 30s. You don’t want to risk too
much with your brokers. Like, brokers are necessary to make trades but I would not have like a prop firm. I would not have some like
sketchy offshore broker. There’s so many different
brokers with different schemes. I just don’t like it. I stick with multi-billion
dollar companies because even when the markets do crash the smaller brokers, the prop firms, they go out of business. Like, you sign your life away basically when you sign up for these brokers. And I’ve been there
– And you know– – When Oliver Valez, the
lying scumbag that he is his prop firm went out of business. One day I got like 12
cancellations from subscribers. I was like, what’s going on? I never get that many. Like I do video lessons,
I do pretty good alerts and I messaged them. I was like, why are
you guys all canceling? And it was because Oliver
Valez’s prop firm shut down. No explanation, literally overnight. You know, these people lost
a thousand, two thousand, five thousand dollars. Some people got some of it back, some people got none of it. Very sketchy stuff, I stick with E-Trade and Interactive Brokers. Again, not because I’m working with them. Some people are like, oh you’re
working with these brokers. These brokers actually hate me because I say don’t trade as much. I say, be a retired trader. E-Trade and Interactive Brokers for me they have good service, not great service, good executions, not great. Interactive Brokers is
better for short selling stocks like very low priced
stocks, under $2 a share. They’re not perfect, but
they’re better than E-Trade. E-Trade for shorting stocks between two and like $10 a share. If you’re buying, it
really doesn’t matter. I mean, you can use like
Fidelity, Schwab, Scottrade. – You know what I think,
one of the biggest things is a lot of these brokers that Tim mentioned, a lot of them are trying to help you get around some of the rules and I think you really– – Wait, not the brokers I just mentioned. – No no no no no yeah yeah yeah
– The prop firms. – Correct correct correct, yes, well said. – I respect the rules! – Yeah yeah.
– You don’t wanna bend the rules.
– And that’s my point. My point is–
– You can’t cheat your way to success. – Exactly and if you can’t
get consistent trading, if you can’t find your
niche with a legit broker the last thing you should
be doing is pursuing some of these other gray areas. – There’s just too much downside risk. – Yes.
– Like, you might get ahead a little bit. I mean, I’ve tried off-shore brokers, I’ve tried specialized
brokers to find more shares of the short when I was
heavily into shorting. It just, I just didn’t make that much because you’re trying
such specialized things like for me, a broker’s just– Okay I have to use them–
– And remember especially these day and age short selling, they’re
charging crazy fees. There’s borrow fees
– Short selling is crazy. – Locate fees, I mean it’s not as attractive
– I don’t even– – As it seems.
– I don’t even short that much anymore because of that. – Yup.
– Also, a newer broker, Robinhood, a lot of you guys bring them up because they don’t charge any commissions. From what I hear, they’re
market orders are terrible, their executions are terrible. You have to think, how does
a broker make their money. If they’re not charging commissions they’re making it other ways. So they’re actually routing your order out to other firms and taking
a little piece of the pie. You know, very sketchy questionable stuff. I’ve heard horror stories
galore with Robinhood. So for me, I want to pay small commissions because I’m with a big company. That’s the price of doing business. – Yup. – And I just like sleeping at night. I like being safe. – I’ve been there. So I’ve dabbled in
trading cryptocurrencies. For the last probably five years, dabbled. You know, but the moral of the story is twice I’ve been ripped off
by crypto trading brokerages. So they, two of ’em shut down on me. Lost all my money both. Well actually, one time
they sent me a check for like $80 or something. But, I’ve been there on
the crypto side of things and that happens in the stock world. Stick with the big names. Stick with the Tradier, stick
with the Interactive Brokers, stick with the E-Trades. If you get more consistent,
if you need a better borrow as you get more experience
then branch out. But at the beginning please stick with the reputable brokers.
– And if you have a ton of money feel free to branch out.
– Yes, yup. – Like if you have $500,000 it doesn’t hurt to open
a different account with like $5,000, risk one percent. But most people watching this, they have two, three thousand
dollars to their name. Like, what do you want to do. You have to think about this, what can you do today,
this week, this month, this year to put yourself
in a good position in the future. Like, trying to cheat
rules, trying to skirt rules is not gonna be that, right?
– Very well said. That was the point I was trying to get at. – You need to find a process that’s gonna work for you in the long run. You need to find a broker that’s gonna be there for the long run. If something is hot right now and you’re just not sure about it it might disappear in like a year or two. It’s just not worth the risk because it’s not gonna change your life big time in the future. Too many people are trying
to do anything they can to make a thousand dollars
or two thousand dollars. If you make money, that’s fantastic but there’s ways to make
money the wrong way. They teach you the wrong lessons there’s too much risk and if you keep making
the money the wrong way – Yes, some of ’em–
– it’ll blow up. – Some of them give you
ridiculous amounts of leverage which should be the last thing you– – Correct, so what if you’re
using a sketchy broker it’s working working working let’s say it works
– And they’re giving you 10 to one or 20 to one.
– Yeah, let’s say it works 10 times or 20 times and you’re getting so confident and you keep betting bigger and bigger and then you blow up. The whole key is not blowing
up and staying in the game. The biggest money that you’re gonna make will be several years from now. So be safe. For me, I use big brokers, safe brokers – Yup.
– E-Trade, Interactive Brokers I don’t work for either of them. I don’t get paid by either of them. I just use them. They don’t necessarily like me again, because I trade very little and I’m very patient which is how I think that you should be. But leave a comment below. Let us know if you think
this is a good video. If you want a safe broker
and also ask some questions in the comments below if you
have any questions for us. No question is too new or dumb or naive. We’ll answer anything,
we all start somewhere. Let’s get you wealthy, over
time using the right tools, like StocksToTrade and safe brokers that are not gonna rip you off. – Hey, Tim Sykes, millionaire
mentor and trader. Thank you for watching my videos. I hope that they help you.
I wanna share everything that I’ve learned over the years. You can check out more
videos right over there and also, click subscribe
so that you can watch all of these videos, get that knowledge and become my next millionaire student.

72 thoughts on “Our Favorite Brokers For New Stock Traders

  1. I have a crappie broker had to call yesterday to sell a stock and it dropped a lot while I was on hold so they could fix the problem passed me off

  2. I’ve got 1k in Robinhood and 1k in Webull! I like Robinhood’s layout but they’re still shit! I just don’t have enough money in my account to pay for commissions lol and I lose 5-10$ everyday because I suck at trading

  3. Hi Tim, what about the brockers for poeple living outside the US ? Im in france and none of big names are available outside US appart from Interactive brockers but it is complicated because I should pay US and FR taxes or something like that and other complicated stuff. Do you have any recommandations ? Thank you very much.

  4. I appreciate this great, short, straight to the point video for newbies. Thanks for the warnings upfront. I'll just stick to Etrade and later Interactive Brokers. 👍🏿👍🏻👍🏽😁😁😁

  5. I like the video… it’s straightforward and you really emphasized on specialized brokers that we should avoid but what’s an example of one?

  6. Hello Tim you probably won’t get this. But I’m a 15 year old and I’m really into trading. My dad gave me 100 euro to start off and it’s at 260 right now. I only know the basics of support and resistance. I feel to further my trading career and learn from the pros I need to do I through a paid way. Instead of the free ways. My question is what age would be the best and secondly how I could become a student of yours. It is my passion and always has been since a young age. I am currently reading your book and finding it very interesting.

    Yours sincerely

  7. I am just starting out Im from the uk I use IG. Etrade won't let me join ig seem pretty good the have lessons to help you learn too.

  8. How is Schwab? I'm currently using them because Etrade got PDT restricted late February because i didnt realize presidents day did not count as a rolling 5 day period

  9. I use Robinhood and yes they suck bit i also downloaded interactive brokers but not quite sure how to set it up.. Also how do i integrate it to stocks to trade when I'm in a trial period?

  10. Hey guys great information, but I have problem finding brokers as non US citizen or resident, as well interactive brokers have a minimum of 10 000$ ! If you have any suggestions please let me know !

  11. Can you just have a cash account with Tradier and not a margin and still only pay 15 dollars a month flat rate

  12. Hey tim im a noobie im trying to learn and saving money from my 3 to 12 job so i can buy your lessons. Should i just first learn and study all the lessons or mean while i study i can get in e trade or other one to learn more abt the website.? Thx

  13. Thanks for this Tims. 🤙🤙 I use Charles Schwab and they charge $4.95 flat rate per trade.
    It's good to know about Tradier!!

  14. My strategy is the best there is in trading i belt you i am happy to read from you all and your commitment to make this come

    through, I thank every one of you who sent me Gifts and appreciation messages, and most especially Andre, gibson, sussan and many other. i receive your testimony of $293,000 profit made with my DV SPI strategy, you will earn more now with the latest upgrade, i wish to help you do more and anyone who gives me the opportunity to help and trade for them, feel free to contact me, for more information, if you are interested to learn the DV SPI STRATEGY contact me on [email protected]

  15. Don’t go for the junk…especially if you’re trying to get around pdt or replicate all the big short sellers you idolize. You get what you pay for, IB and E*TRADE are great for starters and more experienced traders. I know a lot of you have mentioned TD and why it’s left out, I have experience with them but unfortunately their market executions are not as good as E*TRADE (if you trade that way) and their short list isn’t even in the same galaxy …they certainly aren’t junk and if your a long trader they’ll suit you fine but the two mentioned would be a great place to start particularly E*TRADE due to the IB 10k min deposit to start over 26 yrs of age

  16. Tim, love your videos, just a quick question: I'm trying to open a trading account and so far nobody is accepting people outside the US, like me for instance, but you must have students from all around the world (assuming The Midwest is not a different country than Miami, FL lol), so which broker to use in this case? I tried so far opening an account to E*Trade and Tradier, they're not open to non-US residents. Please, help. Thanks, and success in building the #1000 school!

  17. I love the difference in outfits for you Tim's. Brings me back to when you were interviewing Grattani and you were in nice clothes like Bowen and he was rocking the chill life haha

  18. That’s a good video on brokers especially when people like me that are just getting started. Also a little off subject but what brand are those shirts that Tim Bowen wears? Those are nice shirts.

  19. TANZANIAN GOLD CORP IS IN PLAY! THATS RIGHT….. TRX RUN BY JIM SINCLAIR! MOVING UP TO 9$ PLUS? http://bigcharts.marketwatch.com/kaavio.Webhost/charts/big.chart?nosettings=1&symb=TRX&uf=0&type=64&size=4&sid=2235275&style=320&freq=2&entitlementtoken=0c33378313484ba9b46b8e24ded87dd6&time=20&rand=1681662851&compidx=aaaaa%3a0&ma=0&maval=9&lf=1&lf2=0&lf3=0&height=635&width=1045&mocktick=1

  20. Awesome Tim! this is right on time! I just subscribed to your weekend trading and I really wanted to know which brokers you trade with so I can get started. Thank you so much for this video!

  21. Happy late birthday! I will probably try the one Tim B. Mentioned if it is on Stockstotrade due to convienence at the moment, but will eventually expand with Etrade and Interactive Brokers.

    Just had my baby boy a few days ago during Tim B.s live webinar and I have to catch up now with your trading classes after I turn in my term project Saturday.

    I greatly appreciate your videos. Are there any brokers that your "in charge" of or you own or something like that? There are ones claiming you're the boss of but they're Options. I know you don't do options, but what if people are using your reputation to scam or entice others? Just in case others are being scammed like that person tried doing to me, luckily I do study your lessons so much that everything that person said was 100% opposite of what you preach. Lol

    Also, apperently I got a badge on Facebook and they say I am a top fan of yours. FYI =) lol ♡ #dedicatedstudent

  22. what is your opinion about trade station? I would prefer etrader but it is restricted to US only. Interactive brokers allows with atleast min of 10k.

  23. Great video guys. I definitely struggle to get borrows on ToS and their commissions are outrageous. But, I do think they have one of the best paper trading platforms for beginner traders because it can be very clean and straightforward but still heavily customizable. I haven't used stocks to trade for anything more than the scanners but those seem way better than ToS. Looking forward to trying interactive brokers at some point!

  24. been watch almost everything I can on the net, will have to check out this new one you mentioned but I use IB and E-trade for that simple reason they are safe to me and haven't had any problems so far.

  25. Cheers guys.
    Question I have trouble finding a good answer after weeks of research. What is recommended broker if you are trading from Europe:
    E*Trade – they said we dont operate in Europe
    TDAmeritrade – they said – not in your country (Luxembourg)
    Interactive Brokers – they want 10K. Not above my means, but above my experience.
    Happy to get suggestions from anyone who has been in my shoes.

  26. i notice in one of your comments tim sykes you said trade zero is to sketchy for you, but i follow one of your best students steven duxx and actually recommend it! so dont know what to think anymore, can you elaborate on why you dont like trade zero besides is a offshore broker? thank you!

  27. I use InteractiveBrokers & TradeZero! Both are good brokers! I also do free daily recaps explaining my trades in detail!

  28. I use InteractiveBrokers & TradeZero! Both are good brokers. Also, for newer traders, this is a great free resource – https://www.youtube.com/channel/UCoGHyptXvn0cAyaqitaEUZQ You should hire this guy Tim, he's a great trader and is always answering questions and helping people, including myself!

  29. Had been following James Altucher for years n then whn his email with ur strategy came I had to get in, just subscribed to the PennyStockLetter, struggling with finding an online trading company that accepts Zimbabwe, E*Trader & Interactive are not accepting Zimbabwe, please help

  30. Hey Tim or Tim, I am a newb! I am on Robinhood and just heard what you guys think of it. I was a little surprised because I have been a little concerned about putting money there but I am working with an account under 1k dollars and so I have to swing a LOOOT and don't make much per trade. Is there a trading platform that is ideal for someone this poor? I mean I have no problem with Robinhood so far but I don't want to wake up one day and they are gone along with my portfolio.

  31. I live in UK, TD ameritrade and E trade aren’t allowing EU accounts. And I don’t have enough money for Interactive brokers. Help please!

  32. Every brokerage you advertised I cannot open an account as a Canadian citizen, I thought this was something I can do from any country

  33. i prefer low priced stocks due to more chance of high spikes and volatility, and i trade with a small account, plus i have most of the day to watch the market, also not trading constantly is boring.

  34. Thanks for the advice here! Really loving the videos with both Tims. I'm looking at the STT + Tradier offer on the STT website, and the fine print says that Tradier doesn't offer OTC Markets or OTC-BB trading. If I go with them as a broker, it feels like that will limit my ability to trade penny stocks. Maybe when I'm just starting out I'm better off avoiding OTC stocks until I get more familiar with trading, but at some point will that prove a limitation for me? Thanks!

Leave a Reply

Your email address will not be published. Required fields are marked *