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Online Broker Recommendations?

Posted on 5/1/13 at 1:12 am
Posted by alexanderjcoop
Mobile, AL
Member since Nov 2009
37 posts
Posted on 5/1/13 at 1:12 am
Looking to open a trading account not tied to my current 401k and retirement accounts. No large sums just 5k to start and simply buying company stocks I have an interest in. I only expect to conduct a few trades per month on average.

Keys for me are low trade cost, no account maintenance fees and a good iPhone and/or iPad app for trading. This is the best comparison resource I've found so far Barron's

I'm looking at Scottrade, Etrade and TD Ameritrade...any others? Any to avoid?

Any experience with the iPhone/iPad apps? I can't get a read on who has the best one...

Thanks for the advice.


Posted by Siderophore
Member since Nov 2010
3338 posts
Posted on 5/1/13 at 1:20 am to
Seems like sharebuilder is your perfect match.

No maintaince fees or minis, it costs 8 dollars a trade but automatic investments cost only 4 dollars each (basically preplanned investments that are purchased when the next Tuesday passes after funding. You can also set it to stay active in waiting till enough money is transferred to the account.)

Also can get a premium package that has a lot of features, including 12 free auto investment buys (and each additional only a dollar more) for like 12 dollars a month.

The iPhone app also works really well with its functionality.

Also like the detailed lot/tax info always available
Posted by jso0003
Member since Jun 2009
5170 posts
Posted on 5/1/13 at 6:44 am to
I use. TD Ameritrade for my Roth since there is virtually no trading activity I'm not worried about the higher fees.

I use OptionsHouse for my taxable acct that I trade more actively.

They have a good app, rock bottom rates, and have excellent customer service.
Posted by npt817
Prairieville, LA
Member since Sep 2010
1367 posts
Posted on 5/1/13 at 9:49 am to
TradeKing
Posted by BJ titsnbeer
Gods Country
Member since Mar 2011
217 posts
Posted on 5/1/13 at 5:19 pm to
quote:

TradeKing


This
Posted by GrantTheFan
Baton Rouge
Member since Nov 2010
336 posts
Posted on 5/1/13 at 9:22 pm to
I did eTrade for a couple years and there always seemed to be some issue that popped up and customer service wasn't great. I transferred the account to Scottrade mostly because there's an office 5 minutes from my house and I figured when something comes up, at least I can go in and talk to somebody. They've been great and the iphone/ipad app work great as well, all for only $7 per trade.
Posted by Cmlsu5618
Destin, FL
Member since Sep 2010
3763 posts
Posted on 5/1/13 at 9:35 pm to
Merrill Edge has trades for $6.95. Self-direct free option and advisor-based options for a very decent price IMO.
Posted by matthew25
Member since Jun 2012
9425 posts
Posted on 5/1/13 at 11:25 pm to
Does Scottrade have an office in your city?

I will never do business with TDAmeritrade again.
Posted by Catman88
Baton Rouge, LA
Member since Dec 2004
49125 posts
Posted on 5/2/13 at 7:39 am to
I like scottrade but wish they offered DRIPS
Posted by OnTheBrink
TN
Member since Mar 2012
5418 posts
Posted on 5/2/13 at 7:48 am to
quote:

but wish they offered DRIPS


I use Sharebuilder. $6.95 per trade and free dividend reinvesment. I have long been a customer of ING Direct, now Capital One 360, and the transactions are seamless from there to Sharebuilder. I do not have any complaints.
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