The cheapest way that I know is through Interactive Brokers:
http://individuals.interactivebrokers.com/en/main.php
http://individuals.interactivebrokers.com/en/main.php
roughbert
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Check the small print, too, if your balance drops below 25K USD you could get locked out for 90 days!
They certainly don't encourage dabbling!
lancenicolase
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the easiest and cheapest would be financial spread betting... but keep in mind that spread betting is a margined product.
timsk
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All direct access brokers that are regulated by the SEC will do the same. It's the law and has nothing to do with individual brokers' T&S's. There are two ways around this if it's an issue for you, and they all have drawbacks:
1. Find a broker that is not regulated by the SEC.
2. Trade via a spread bet or CFD broker.
Tim.