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#2
09-12-2006, 01:30 PM
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Re: Which Online Brokerage?
I use Scottrade, and it is pretty cheap. I have used others and each time was foiled when fees were increased. Scottrade is a private company and as such is under less pressure to increase earnings every year for shareholders. Be cautious of some other companies because they will charge inactivity fees and other nasty return eaters.
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#3
09-13-2006, 05:38 PM
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Re: Which Online Brokerage?
I use Scottrade too. However, I mainly use them to invest in ETFs. I believe Scottrade charges fees to invest in some index funds. Some are free to invest in though.
If you want 3 free trades at Scottrade, PM for a referral.
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#4
09-13-2006, 07:50 PM
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Re: Which Online Brokerage?
Wouldn't you be better off just using the brokerage that offers the index funds that you want to purchase. Ie. If you want Vanguard index funds, then open an account there. But I think they charge higher commissions for stock purchases.
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#5
09-13-2006, 08:04 PM
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Re: Which Online Brokerage?
Yes. If you are investing in Vanguard's (or any company's) funds, it would make the most sense to open an account at Vanguard. It's free to invest in their funds. However, Vanguard's brokerage service is pretty expensive. It costs quite a bit to buy stocks or ETFs. Some people like to have all of their finances at the same place, so they invest in index funds through their brokerage if the brokerage let's them do it for free.
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#7
09-15-2006, 10:44 AM
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Re: Which Online Brokerage?
[ QUOTE ]
[ QUOTE ] Vanguard's brokerage service is pretty expensive. It costs quite a bit to buy stocks or ETFs. [/ QUOTE ] How expensive? I'm looking to invest $10k in an ETF. [/ QUOTE ] https://flagship.vanguard.com/VGApp/...eesContent.jsp Here are Vanguard's fees. There were some good points earlier about buying index mutual funds and going directly to the site. Scottrade is good for mutual funds, but they do charge a $17 fee on both sides (buy/sell) for about half of the funds they offer. Fidelity has pretty competitive brokerage rates and a great stable of mutual funds if you think you'll do both, and want to consolidate all of your money into one account. Otherwise I would do your ETFs at Scottrade and do your mutual funds through the individual companies like T. Rowe Price, Fidelity, or Vanguard.
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#8
09-15-2006, 11:58 AM
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Re: Which Online Brokerage?
if you are younger than 25, interactive brokers is likely the cheapest place to invest in efts. they charge a half a penny a share, but will charge you a minimum of like $5 a month (i don't know if this is the exact number, but it is pretty low... it rises when you become 26). will make it much cheaper to add to your etf positions, rebalance, etc etc
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#9
09-15-2006, 06:22 PM
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Re: Which Online Brokerage?
you're kidding, right?
a broker that charges a min monthly fee is the cheapest place for him to buy ETF's? If he's going to rebalance frequently OP should be buying index funds, not ETF's. If he's a buy-and-hold ETF investor OP should look to a discount brokerage like scottrade.
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#10
09-15-2006, 07:01 PM
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Re: Which Online Brokerage?
if he makes more than 8 trades a year it is cheaper. 9 etf trades a year if not a ton if he wants to be adding to his positions regularly (he could add with every pay check)... most index funds have not tiny minimums, so it is also easier for him to get into a more diverse set of products using the ibrokers route. not perfect for everyone, but clearly a good option for many
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