Q: I want to open a brokerage account, but the brokerages I've looked at require initial investments of between $1,000 and $5,000. What can I do?
- R.W., Lexington, Ky.
A: Keep looking. Some brokerages don't have minimums. Others have modest ones. Scottrade and E-Trade, for example, require just $500 for some accounts.
Commissions at many brokerages are now as low as $5 or $10 per trade, down from $30 to $50 a few years ago, and far better than the hundreds of dollars that some full-service brokerages still charge.