Who is the best online trading company?

[Dion]

Who do you recommend for online day trading?

[deepinwonder]

In a couple of weeks, I would say that Banc of America is, because they are going to bring their trading fees down. I have been hanging in there with them, despite the higher trading costs, because I really do think they are the best. I also trust my money more in an established bank than I do in some online trading company.

[chazutx]

I use Ameritrade for mad money, and Fidelity for my investment money.

[pietistic]

If you trade options, it doesn't get any better than OptionsXpress.

[Brewbro21]

Scottrade.com is my favorite, I've tried a few others but Scottrade has always been for me.

$7 a trade is pretty good too. There is one that offers $2 a trade, if you trade a lot then that one would be for you, however for $2 a trade I imagine that thier research and tech. would be lacking a bit, but I don't know for sure.

[Luc1Grunt]

Scottrade.....no problems. Will probably jump to Scottrade Elite soon.

[NINOHERO]

Agree with Pietistic-- Options Express is good for stocks in addition to options. Plus, you may want to look at owning their stock.

[optimus25]

scottrade.

[rski]

I use Ameritrade.....

If you buy and sell in the same day, you have unsettled cash for three days.....is this normal? I made a couple quick trades yesterday and now have 40% of my money tied up till friday. Am I missing something?

[BrianB]

The 3 day tie up is normal. i have scottrade---- same thing. I like scottrade, but have looked at ameritrade, and i think ameritrade provides a lot more information-- but it is $10 a trade compared to $7

[rski]

Thanks Brian, I was wondering bout that. I have been thinking of going to scottrade for the $7.

[optimus25]

3 days because thats how long it takes to clear. Its like that for all stocks.

[optimus25]

If you are trading penny stocks or certain OTCBB stocks, Scottrade might be more expensive than Ameritrade.

[deepinwonder]

I get no tie ups or delays in receiving my money to buy more stocks on Banc of America. I also notice that many people come online and say they can't trade during the total time after hours is open, I can trade whenever the market is open, I don't get left out of anything, before or after hours. I don't know what the minimum balance to start an account is, though. I began mine with $2000, you'd have to check.

Also read that Ameritrade was in trouble for delaying the placement of their customers' orders, not too long ago. This could cost people big money, if it's still going on. They may have stopped that, now that's it's public knowledge, I don't know... but an honest or capable broker would not even try to get away with it or let it happen, in the first place. imo I don't trust that company, because of it.

Read many raves on the review sites about OptionsXpress, but don't know anything about it, other than than it's highly rated. Lots of people are in Scottrade, but aren't they one of the ones who will block you out of part of the after hours action, if you want to trade? Clue me in, if I'm wrong. Thanks!

[BuyOnDips]

I use Scottrade and Ameritrade. I use Scottrade for short term frequent trades cause it's cheaper(my mad money). Ameritrade is for long term holdings. So far, I'm happy with both of these services.

[chazutx]

I get no tie ups or delays in receiving my money to buy more stocks on Banc of America.

That is probably because you either have a margin account or have other funds to trade with. Whenever you buy any stock there is a SEC filing that takes 3 days to clear, this is a rule for everyone, everywhere, with any broker. So if you only hae $1000 in your account and buy up a stock, you can't sell that stock and use the same funds to purchase another stock for at least 3 days...again unless you have a margin account with your broker in which case they will cover those funds.