Summarize:

The easiest way to work with a broker today is online. You’ll open an account with the broker and then deposit money into the account. You can find online brokers by searching online. Some of the more popular include the following:  Charles Schwab E*Trade TD Ameritrade Optionshouse Full-service brokers will meet with you in their office and talk about your financial goals. They can help you devise an investment strategy. You can find full-service brokers by looking online or in your phone book.  Because they are full-service, they will also provide tax advice, estate planning, retirement planning, and budgeting.  A full-service broker is a good choice if you have a lot of money to invest or need help planning for the future. Before signing up with an online broker, you should compare them and choose the one that best fits your needs. Compare the following:   Account minimum. Online brokers typically require some minimum amount for you to be able to set up an account. A few might allow you to create an account for $0.  Commissions. You’ll have to pay for the broker to buy and sell your stock. Compare the fees. Commissions generally range between $5 and $10.  Account fees. There are all kinds of fees an online broker can charge: inactivity fees, annual fees, and research fees.  Support. You might need help finding stock. Accordingly, check to see if the online broker offers educational tools, stock research, and access to someone via email, phone, or online chat.  Bonuses. Some online brokers provide cash bonuses for new users. To sign up, you’ll need to provide the broker personal information. Typically, you’ll need to provide the following:  driver’s license or government-issued ID Social Security Number address date of birth annual income net worth employment status You might also be asked if you want a “margin account” or a “cash account.” With a margin account, you borrow money from the broker in order to complete the trade. You’ll have to pay interest on the loan. Because a margin account carries extra risks, new investors should stick with a cash account, which you will fund without borrowing money. Fund your cash account using an electronic funds transfer. The transfer can take a few days to go through. Once money is in your account, you can begin investing.
Find an online broker. Identify if you want a full-service broker instead. Compare online brokers. Open an online account. Finish setting up your account.