Brokerage - who does everybody use?

poohgoil · 08-25-2006, 11:53 AM

Hey guys. . .shopping for a new online broker. Who does everybody use, and what do you like and dislike?

Brooke

Justmakinmoney · 08-25-2006, 12:21 PM

Scottrade is what Im using right now. Cheap trades. Only problem is that they don't do electronic bank withdrawls so you either have to mail them a check or take one to one of their branches. Other than that I haven't had any problems.

TonyM · 08-25-2006, 12:43 PM

+1 on Scottrade I've been pleased with them, they are supposedly working on electronic deposits, according to my local branch manager this may happen later in the year, could be just blowing smoke so as not to lose my business though.

stck8ter · 08-25-2006, 12:46 PM

Either of you using their scottradeELITE software with level II quotes?

I think I can start using it now that I have the min balance required, and I'm sure I can make the 10 trades a month so that it's free.

TonyM · 08-25-2006, 12:53 PM

Yes, I love the elite software, a very useful utility. You might need a margin account or have enough settled cash to be able to make 10 trades in 20 days, since you'll be running into the 3 day fund settlement problem if all of your cash is being used for trades.

Justmakinmoney · 08-25-2006, 12:59 PM

I have been looking into Bank of America's investing accounts. Does anyone have one of these? It seems like it would be very easy to use if it is linked to a checking or savings account there. If you have a certain balance the trades are around 7 or 8 bucks. But as with most banks Im sure there are crap loads of hidden fees.

TonyM · 08-25-2006, 01:39 PM

I considered them (bank of america) since I have 6 accounts with boa, but after reading over their program I felt they did not offer as much value as scottrade does.

poohgoil · 08-25-2006, 01:57 PM

Tony, what do you feel ScottTrade has over BoA?

poohgoil · 08-25-2006, 02:02 PM

I use Fidelity now and Ameritrade. Ameritrade is awful---I only keep them because I had money there and it was hassle to take it out. I'll stop using them once the money is used.

Fidelity has GREAT features. Their trade costs seem a little high. Fidelity has given me Active Trader Pro, a GREAt tool. Their electronic withdrawals and deposits are quick, too. When I schedule a deposit from my BOA checking, I can use the funds to trade immediately.

Guess I'm wondering if someone has a broker with great features and lower cost trading. At Silver level, fidelity is $10.95 per trade up to 1000 shares, and $0.015 per share thereafter.

mlegha1 · 08-25-2006, 02:16 PM

Tradeking for short time trades
Sharebuilder for long term investments..

08-25-2006, 11:53 AM	#1
poohgoil valued contributor Join Date: Jan 2006 Posts: 75	Brokerage - who does everybody use? Hey guys. . .shopping for a new online broker. Who does everybody use, and what do you like and dislike? Brooke

08-25-2006, 12:21 PM	#2
Justmakinmoney valued contributor Join Date: Jun 2006 Posts: 335	Re: Brokerage - who does everybody use? Scottrade is what Im using right now. Cheap trades. Only problem is that they don't do electronic bank withdrawls so you either have to mail them a check or take one to one of their branches. Other than that I haven't had any problems. Last edited by Thierry Martin; 08-25-2006 at 12:39 PM.

08-25-2006, 12:43 PM	#3
TonyM forum leader weekly challenge winner Join Date: Aug 2006 Posts: 2,214	Re: Brokerage - who does everybody use? +1 on Scottrade I've been pleased with them, they are supposedly working on electronic deposits, according to my local branch manager this may happen later in the year, could be just blowing smoke so as not to lose my business though.

08-25-2006, 12:46 PM	#4
stck8ter valued contributor Join Date: Aug 2006 Posts: 192	Re: Brokerage - who does everybody use? Either of you using their scottradeELITE software with level II quotes? I think I can start using it now that I have the min balance required, and I'm sure I can make the 10 trades a month so that it's free.

08-25-2006, 12:53 PM	#5
TonyM forum leader weekly challenge winner Join Date: Aug 2006 Posts: 2,214	Re: Brokerage - who does everybody use? Yes, I love the elite software, a very useful utility. You might need a margin account or have enough settled cash to be able to make 10 trades in 20 days, since you'll be running into the 3 day fund settlement problem if all of your cash is being used for trades.

08-25-2006, 12:59 PM	#6
Justmakinmoney valued contributor Join Date: Jun 2006 Posts: 335	Re: Brokerage - who does everybody use? I have been looking into Bank of America's investing accounts. Does anyone have one of these? It seems like it would be very easy to use if it is linked to a checking or savings account there. If you have a certain balance the trades are around 7 or 8 bucks. But as with most banks Im sure there are crap loads of hidden fees.

08-25-2006, 01:39 PM	#7
TonyM forum leader weekly challenge winner Join Date: Aug 2006 Posts: 2,214	Re: Brokerage - who does everybody use? I considered them (bank of america) since I have 6 accounts with boa, but after reading over their program I felt they did not offer as much value as scottrade does.

08-25-2006, 01:57 PM	#8
poohgoil valued contributor Join Date: Jan 2006 Posts: 75	Re: Brokerage - who does everybody use? Tony, what do you feel ScottTrade has over BoA?

08-25-2006, 02:02 PM	#9
poohgoil valued contributor Join Date: Jan 2006 Posts: 75	Re: Brokerage - who does everybody use? I use Fidelity now and Ameritrade. Ameritrade is awful---I only keep them because I had money there and it was hassle to take it out. I'll stop using them once the money is used. Fidelity has GREAT features. Their trade costs seem a little high. Fidelity has given me Active Trader Pro, a GREAt tool. Their electronic withdrawals and deposits are quick, too. When I schedule a deposit from my BOA checking, I can use the funds to trade immediately. Guess I'm wondering if someone has a broker with great features and lower cost trading. At Silver level, fidelity is $10.95 per trade up to 1000 shares, and $0.015 per share thereafter.

08-25-2006, 02:16 PM	#10
mlegha1 valued contributor oct/08 simulation winner feb/08 simulation winner weekly challenge winner 9x Join Date: Jan 2006 Posts: 725	Re: Brokerage - who does everybody use? Tradeking for short time trades Sharebuilder for long term investments..

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