Investments and Brokerage Accounts

[347Mike]

I am looking for a good brokerage account. I recently had one through BofA who was actually in partner with Merrill Lynch but I believe they deactivated my account due to inactivity. They also started charging this ridiculous fees which also had an annually fee associated with it.

At any rate, I am looking for a new brokerage account but would also like one with really good trading tools, charts and analysis. I was referred to investools.com by a coworker who seems to be a pretty successfull trader over the past 3 years but it is to expensive for my blood. I liked what I saw with investools but it is not in my price range for a tool.

So I am looking for something with low trading fees, and preferably no annual or monthly fees. Accompanied by good trading tools and not just a chart like stockcharts.com.

If you have any opinions or recommendations feel free to throw them about!

[SVT Lurch]

I've been seeing a lot more Fidelity accounts from the wealthier clients (who have managed accounts) lately.

[sc281]

Look into TDAmeritrade, or Charles schwabb

[slow99]

Nothing but love for Fido...but I'm far from a chartist.

[GrayStangGT]

I use Charles Schwab and have been very satisfied.

[momo]

i use zecco.com
4.50 per stock trade.
no stupid feese.

i like them alright.

[slow99]

i use zecco.com
4.50 per stock trade.
no stupid feese.

i like them alright.

Yep, cheap, but God I learned to hate those bastards.

[GrayStangGT]

i use zecco.com
4.50 per stock trade.
no stupid feese.

i like them alright.

I've got an account over there for messing around with penny stocks, but I like the way my schwab one works a lot better.

[davbrucas]

I use ETrade and ScotTrade. For direct access trading platforms, ETrade's is hands down the best one. I can choose to route my orders through a variety of market makers and the screeners and research tools are quite impressive.

Additionally, neither ETrade or ScotTrade have inactivity fee.

The only reason I continue to use ScotTrade in addition to ETrade is because they are the best at clearing stock certificates. ETrade often won't accept certificates from small-cap companies. ScotTrade always does. I keep my ScotTrade account active for this purpose only.

It's a great time to be in the stock market. Put a few bucks on a company that looks to be on the upward swing and get out when you make a preset percentage. Do this several times and you can make a nice amount of money...you just get burned with short term gains taxes...


Edit: ScotTrade advertises a flat fee of 7.99 trade. However, this is only for stocks that are priced above a dollar. For stocks below that threshold, you will be charged a per share amount. So if you're trading pennies or even sub-pennies, this amount can end up being very, very high. If you have an interest in trading penny stocks, you will want to stay away from ScotTrade.

[davbrucas]

I think ScotTrade is $7 + .5% of the principal for anything below a dollar. Not real sure.

[slow99]

I use ETrade and ScotTrade. For direct access trading platforms, ETrade's is hands down the best one. I can choose to route my orders through a variety of market makers and the screeners and research tools are quite impressive.

Additionally, neither ETrade or ScotTrade have inactivity fee.

The only reason I continue to use ScotTrade in addition to ETrade is because they are the best at clearing stock certificates. ETrade often won't accept certificates from small-cap companies. ScotTrade always does. I keep my ScotTrade account active for this purpose only.

It's a great time to be in the stock market. Put a few bucks on a company that looks to be on the upward swing and get out when you make a preset percentage. Do this several times and you can make a nice amount of money...you just get burned with short term gains taxes...


Edit: ScotTrade advertises a flat fee of 7.99 trade. However, this is only for stocks that are priced above a dollar. For stocks below that threshold, you will be charged a per share amount. So if you're trading pennies or even sub-pennies, this amount can end up being very, very high. If you have an interest in trading penny stocks, you will want to stay away from ScotTrade.

ScotTrade doesn't clear their own trades. Same firm that clears for Zecco does.

[davbrucas]

ScotTrade doesn't clear their own trades. Same firm that clears for Zecco does.

Didnt know that...but never had a problem either way.

[347Mike]

Thanks for the info Dave. I think I have made up my mind that I am staying away from the pennies. I have had much better luck since then.

I will probably be enrolling in one or the other shortly once work slows down a bit or when I get internet on at home again... Apparently someone spliced my wires and nothing works.....

[mardyn]

Vanguard or Fidelity for me... I have one at Merrill Lynch & UBS as well, but they're both kinda' pricey.

mardyn

[momo]

i got an older account over at TD Ameritrade. it's good too.