The most important decision youll ever make in your life is in no way concerned with stocks, bonds or mutual funds. This crucial decision is picking a suitable broker. Your online broker will execute your trades and store your money and stock in an account. There are dozens of companies offering brokerage services on the internet. Choosing the one that is right for you is indeed a daunting task.

Here are a few factors you may want to consider:

Discount: Discount should not be the sole criterion. It is better to start with a full-service broker for novice investors who wish to develop confidence and knowledge of the markets. As you get familiar with the process, you can handle all the tasks yourself.

Site performance: Check out the companys website particularly during peak hours and check how fast their site loads. It is very important to feel comfortable with the site environment as youll be using it regularly. If the order page is confusing, you are prone to making mistakes.

Alternatives: It is better to choose a broker who can be reached by other means than the internet. Such alternatives may include touch-tone telephone trades, faxing ordering, or by talking over the phone.

Research the broker: Find about as much as possible about the broker.

Price: The price may be indicative of the quality. Dont open an account with the broker just because he offers the lowest commission cost. You might find that the advertised commission rate may not apply to the type of trade you want to execute.

Minimum deposit: Find out the minimum deposit the firm requires for opening an account. Some firms have high minimum balances, as much as $10,000 to start. This might be fine for some investors, but not all. Some brokers have no minimum deposit at all. You can deposit and withdraw amount as much as you want, and your account stays open.

Product selection: When choosing a broker, most people usually think only about buying stocks. But there may be other investment alternatives as well. This includes CDs, municipal bonds, futures, options and even gold/silver certificates. Mutual fund offerings are becoming increasingly popular. Many brokerages offer other financial services, such as checking accounts and credit cards.

Customer service: Customer service is a very important criterion you need to consider. Test the companys customer service before opening an account. Call the companys service center and ask some questions and then decide about the customer service. You may not need to suffer later.

Although choosing an online broker can be difficult, carefully considering the above mentioned factors can help reduce stress and speed-up your decision making process.