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If you have not done so, please read Part 1 - How Active Traders Choose an Online Discount Broker.
Managing Your Expectations
 When you compare and choose a discount stock broker or futures
broker, you have to temper your expectations and do not expect the same level of
service as a full service broker. It does not mean that you have to accept bad
service, it just means that adding support staff to a brokerage will add to
their costs so dealing with an online discount brokerage may mean having to put
up with minor service inconveniences due to the firm not being staffed like a
full brokerage.
In reality however, most discount brokers have tweaked their services
offered and associated costs to such a level that they now offer above
average levels of service comparable even to that of full-service brokers.
Services to take note of while broker comparison shopping include 24-hour
services, free check-writing privileges, dividend-reinvestment services, free
funds transfer etc.
Securities Traded.
 Not all stock brokers may trade the security that you are looking to trade.
Some brokers specialize in trading stocks only whilst others may only offer
futures and options. Most broker websites will clearly state what securities
they trade in so make it a point to pay special emphasis to this.
Custodial Services.
When you have spare cash laying idle in your brokerage account, most firms
offer to hold your balance awaiting reinvestment. Some brokers
hold the balance in a regular brokerage account that offers interest.
In other cases, you can have your balance automatically invested in shares
of a money market fund. Take note that some brokerages require a minimum balance
before any interest is credited.
Minimum Activity in Account.
Some brokers may require a minimum amount in commissions or a minimum number
of transactions in an account during a given period of time. This will affect
those whose trading activity is very low but yet you will be incurring costs in
maintaining an active account at your brokerage.
Continue to Broker Reviews to learn more about more detailed features most stock and futures brokerages provide.
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