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#1
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Who likes their discount broker?
I am looking to open up a discount broker account. I am doing this just as a hobby; I will probably just put in a few thousand and make no more than a few stock trades a month, not worried about mutual funds as I will generally take those positions in my vanguard account.
After looking at the smartmoney rankings and consumer reports, my top choices right now are firstrade, tradeking, and scottrade. If anyone uses these and has any thoughts on them it would be much appreciated. If anyone is a strong advocate and uses zecco, sogoinvest, or others, thoughts on those are welcome as well. Thanks. |
#2
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Re: Who likes their discount broker?
niffe what kind of commissions does each charge for basic limit and market order trades?
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#3
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Re: Who likes their discount broker?
I use zecco and think it's alright. I posted a longer response about this if you want to search for it.
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#4
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Re: Who likes their discount broker?
I've been with etrade for a while, they're not bad. Have an Ameritrade account as well, their interface is not as smooth as etrades.
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#5
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Re: Who likes their discount broker?
I use Scottrade and I'm satisfied with it. (PM me if you want a referral; it nets us each 3 free trades.)
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#6
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Re: Who likes their discount broker?
[ QUOTE ]
niffe what kind of commissions does each charge for basic limit and market order trades? [/ QUOTE ] firstrade $7 tradeking $5 scottrade $7 zecco $0 sogoinvest $3.50 |
#7
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Re: Who likes their discount broker?
eTrade has great features/interface but trades are too expensive ($13) unless you have over 50k in assets ($10).
I haven't been with Ameritrade in a while but I hear lots of complaints (mostly little, annoying things, but still). Scottrade is nothing special, but fine for the price ($7). |
#8
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Re: Who likes their discount broker?
I've also used E-trade for several years with no issues. But as you say, it is slightly more expensive.
I've read that Bank of America offers 30 free trades per month if you have over $25k with them, but I've never actually used them. This was hyped pretty heavily a few months back. |
#9
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Re: Who likes their discount broker?
[ QUOTE ]
I've read that Bank of America offers 30 free trades per month if you have over $25k with them, but I've never actually used them. This was hyped pretty heavily a few months back. [/ QUOTE ] Bank of America's deal is pretty bad. The 25k must be in checking, savings, or CDs. Bank of America offers horrible interest rates. |
#10
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Re: Who likes their discount broker?
[ QUOTE ]
[ QUOTE ] I've read that Bank of America offers 30 free trades per month if you have over $25k with them, but I've never actually used them. This was hyped pretty heavily a few months back. [/ QUOTE ] Bank of America's deal is pretty bad. The 25k must be in checking, savings, or CDs. Bank of America offers horrible interest rates. [/ QUOTE ] Partly true, mostly false. Yes their interest rates are low, no the funds need not be in only the accounts you specified. You can have a minimal amount in an Advantage checking account and the rest in your Investment account. Also I have one of their 9 month risk free CD's that I believe is currently yielding 4.65% yet is completly liquid with zero early withdrawal penalties as long as the funds are kept within the BOA system which includes my brokerage account. Jimbo |
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