To make this concise there are some companies I deliberately left off. The three reasons most companies didn’t make the list is that they 1) didn’t have a mature offering 2) they weren’t technically online discount brokers 3) They were so close in price and offering to other players that including them would have been redundant. For example, Ameriprise is not on the list because they aren’t a true discount broker. They are more interested in using financial advisors instead of individuals trading. Another one I left off is BuyandHold.com due to their oversimplified offering. Lastly, there are many companies I left off because their pricing all hovered around $19.95/order and their offering was very close to Wells Fargo or Vanguard.

This list is a sample of unique discount stock brokers.

Best All Around Winner

Overall TradeKing Rating

Pros:

• Very low online trading cost $4.95
• Lowest broker assisted trades at $4.95
• No minimum balance required
• Lowest amount of fees compared to other brokers
• IRA friendly with no maintenance fee.
• Trade Stock, Options, Mutual Funds, Bonds, and CDs
• Top rated website for usability.
• Generous interest rate on cash balances
• Best interest rates on margin accounts for small and medium accounts
• Full suite of investing tools
• No gimmicks or subscriptions to get the best price and service

Cons:

• They are lower on their cash balance interest rate than Sharebuilder’s money market sweep. But it’s only by 0.7%.
• For accounts with $1 Million+ OptionsXpress and Fidelity’s Margin interest rate is 5.25% instead of TradeKings flat rate of 7.25%. If you have less then a million dollars in your account TradeKing smashes the competition in their margin interest rate.
• If you trade heavily with options they are second place to Zecco’s price.
• No checking or debit card.

Absolute Lowest Cost (Stocks & Options): OptionsHouse.com

Only $2.95 for stock trades and $9.95 flat rate for options (no additional contract fees). This is by far the best pricing on stock trading online. The best part is that they are backed by professonal grade investment tools. There are no maintenence fees, volume penalties, low account fees, and broker assisted trades are only $2.95. It took a little digging but they support bonds and mutual funds in addition to stock and option trading. This is the best deal I’ve seen in a long time. Visit OptionsHouse | See Full Comparison

Update: Get 100 Free trades when you open an account today. Click Here to Redeem Offer

Low Cost with Powerful Trading Tools: OptionsXpress.com

Specializing in option tools and eductions as well as stocks, futures, mutual funds, bonds, ETFs, and SSFs. They are very competitive on pricing across the board with ultra low cost on option trading. No unexpected fees and no maintenance fee on IRAs or any other account. No extra cost for broker assisted trades, webinars, or tool center. | See Full Comparison

Low Cost with Forex Trading: ZECCO

Update:Zecco just added Forex trading. With Zecco there are no minimum balances to open an account. Stock trades are only 4.95 a trade. Their fees are minimal or non-existent with the exception of a $30 annual fee on IRA accounts. Signing up for an account online has been streamlined and is as easy as any other broker. To get 10 free trades a month you must make 25 trades or have a $25,000 minimum balance. | See Full Comparision

Long term stock investing:SOGOINVEST.com

Only $3 in and out for stock purchases. No maintenance fee on IRA or any other accounts. Allow fractional share purchases, automated stock purchases investing, and dividend re-investment. The only downside is a $2,500 minimum investment.

Best mid-range broker: Scottrade.com - Use Code HXOA4390

Get Three Free Trades with Scottrade Code: QXEH0544
This is for the best broker that is in the middle between Premium and Standard discount brokers. Scottrade offers competitive rates with a lot of service and tools. They have the most physical branches than anyone else in the country. Scottrade is a broker that you can grow into and still feel comfortable with. They accommodate the small and large accounts nicely.

These are the complete numbers from the research:

*Only with dividend reinvestment

*Sharebuilder uses DBMXX money market account.

529 college savings plans:

• Are college investment vehicles with tax and cost advantages
• There are no federal taxes for qualified withdrawals for educational expenses.
• Most states do not charge tax on qualified 529 withdrawals
• Are sponsored by all 50 states (and some educational institutions)
• Are named after Section 529 of the IRS code
• Offer two types of plans: Pre-Paid Tuition Plans and College Savings Plans.
• Pre-Paid Tuition plans lock in the current price of tuition for a future student
• College Savings Plans are investments.
• Because states sponsor 529 plans residency in the state might be required
• Stock, bond, and money market funds, are acceptable in most plans
• Investments can be guaranteed by the state or educational institute.
• Some types of investments, like stock funds, are not guaranteed or insured.
• Some college expenses are “qualified” expenses, others are not.

As noted above there are two major types of 529 savings plans. Each of these plans are unique and provide various advantages and disadvantages. Pre-Paid Tuition Plans have more regulation and restrictions but provide insurance and stability. College Saving Plans are investment type accounts which are very flexible, less regulated, but are exposed to market risk.

Consult your state for specific guidelines on setting up a 529 college savings plan.