Full-Service Brokers

You'll deal directly with your own personal broker, who can (and will) recommend stocks and tell you when to buy or sell. He or she can also provide financial analyses of companies that interest you. For these services, you'll generally pay a commission of 2% or more on stock transactions. Typical commission on 100 shares of a $50 stock: $100.

Big-Name Discount Brokers

If you'd rather do the investing homework yourself and feel you don't need the advice of a broker, your best bet is to place transactions through a discount broker. The three biggest discounters - Fidelity, Quick & Reilly and Charles Schwab - offer cash-management accounts and investment software. Typical commission on 100 shares of a $50 stock: $53.

Deep-Discount Brokers

These brokers dispense not only with research but also with all perks. Typical commission on 100 shares of a $50 stock: $32.