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Best online financial firm for individual stock purchase?
Posted on 9/29/17 at 8:45 am
Posted on 9/29/17 at 8:45 am
I've got a 401K with mutual funds, and several other mutual funds I've invested in via Vanguard. However, I'd like to be able to buy an individual stock here and there. What's the best, cost effective online financial firm for this? TIA!
Posted on 9/29/17 at 9:14 am to tider04
quote:
best, cost effective
Robinhood is the most cost effective, but I would not call it the best broker by any other means. It's also only a mobile app, though I think I've heard of someone making a browser plugin.
I've dealt with both Schwab and TD Ameritrade. I like them both.
Posted on 9/29/17 at 9:46 am to Omada
Thanks. The trade fees with those two are a little higher than I'd like but may be the best option.
Posted on 9/29/17 at 9:51 am to tider04
second robinhood. if you're going to do your own outside research (rather than rely on the broker tools), robinhood is the best because it is free. also, i like that it's a mobile app - i tend to trade from my throne
Posted on 9/29/17 at 10:07 am to tider04
You're welcome. Their fees are pretty standard for the industry, I think, but you might be able to negotiate the fees down a little if you give them a call. I know TD is willing to negotiate if you have high trade volume and/or a large account. Opening a new account might put you at a similar advantage, or they might offer up some free trades on said new account instead.
Interactive Brokers and I think Tradestation offer much lower trade fees, but they require a certain amount of trades each month or a minimum account size ($100k, I think). Your situation will determine if either of those two are worthwhile.
Interactive Brokers and I think Tradestation offer much lower trade fees, but they require a certain amount of trades each month or a minimum account size ($100k, I think). Your situation will determine if either of those two are worthwhile.
Posted on 9/29/17 at 10:07 am to lsujro
Silly question, but if robinhood ever tanked...you'd still own your stocks purchased through them, but how would you get to them to cash out or manage them?
Posted on 9/29/17 at 10:24 am to Omada
But if he already has a vanguard account he could do all of his research through their platform and just execute through robinhood. Best of both worlds.
Posted on 9/29/17 at 10:27 am to RJSambola
quote:
But if he already has a vanguard account he could do all of his research through their platform and just execute through robinhood. Best of both worlds.
exactly. i have ira with TDA and use their platform for research. robinhood is just for play money.
Posted on 9/29/17 at 10:37 am to RJSambola
quote:
But if he already has a vanguard account he could do all of his research through their platform and just execute through robinhood. Best of both worlds.
That's a good idea. I didn't think of that.
OP, here is the Chrome extension someone made for Robinhood. It's called Little John.
This post was edited on 9/29/17 at 10:38 am
Posted on 9/29/17 at 11:57 am to Omada
Thanks guys, going with Robinhood to play around since I have the Vanguard platform for everything else.
Posted on 9/30/17 at 4:36 pm to tider04
I think you can open a brokerage account on Vanguard that will be linked to your retirement accounts. Trades are about $7 I think, but I haven’t actually used it for that.
Posted on 10/3/17 at 11:32 am to Twenty 49
I have a brokerage account through my 401k with Fidelity. Just bought some Micron stock and it was $5 to complete the trade.
I started with just $5k 2.5 years ago and i'm almost at $12k now. My company bought some other company and as part of the purchase everyone got a certain percent of stock in that company, which i did not want, so i elected to put that all into the brokerage account. I think it was a good decision so far.
I started with just $5k 2.5 years ago and i'm almost at $12k now. My company bought some other company and as part of the purchase everyone got a certain percent of stock in that company, which i did not want, so i elected to put that all into the brokerage account. I think it was a good decision so far.
Posted on 10/3/17 at 4:43 pm to TeddyPadillac
Vanguards commissions are pretty competitive now. For occasional trades I'd just use them and I do. IB is the least expensive broker I've ever used but I was trading fulltime then. At the time 2011 I had to generate at least $30 commissions a month. I love IB's algos especially Booktrader.
Posted on 10/4/17 at 6:32 am to tider04
The best way to go is the Robinhood app for trades, and get a TD Ameritrade account (no need to deposit) so you can have access to their ThinkOrSwim app. Its free Level II trading access. I have been using those two apps to trade for the past year and its been really nice. I still keep my Scottrade account open for OTC and Pink Sheet stocks I trade, but for everyday NYSE stocks, Robinhood has been an account saver.
This post was edited on 10/4/17 at 6:34 am
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