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BenHouston said: "Currently I am using ScotiaMcLeod Direct Investing to purcahse securities online, I am paying about 23.00 ~ 28.00 CAD for every trade I make. I am thinking about opening a ScottTrade Acount, I think they charge 7.00 USD a transaction, any suggestions? Anyone use ScottTrade and have some feed back about it? Thanks, Ben"

AlfredSokol said: "Hi Ben, Welcome. I'm a big fan of Scottrade and have used them for years. Nice clean interface and cheap trades. Plus they have friendly local offices."

chahinemm said: "what is ur buying selling habits... meaning active trader, or slower long term trading.? chahine"

BenHouston said: "About 3 trades per month. I would trade more but I have to cover my commission costs which are so high."

HappyHarry said: "Scottrade or Ameritrade are both excellent for 3 or so trades a month. It will cost you under $20 in Scottrade to execute the trade. It's $7 or so for market orders."

BenHouston said: "A market order is different from a trade? "An order to buy or sell a stock immediately at the best available current price." isn't that what a trade is?"

AlfredSokol said: "Limit orders and market orders are the 2 types of trades available in most brokerage accounts. 1) Limit order - set a price that the stock executes at. If you set it at $21.02 you should get a price of $21.o2 2) Market order - whatever the market wlll bear. You may sell hopng for $21.02 but have the trade settled at $19.81. All Stop Loss orders are Limit Orders that are executed when they hit the trigger price, at which point they become Market orders. That's why a Stop-Loss order could theoretically still not work in a fast moving market. If the downward pressure blows through your stops, the market order is executed and might be settled much lower."