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Early Retirement Extreme Forums » Money Questions

1. 

   Robert Muir
   

   Journeyman
   Joined: Jul '10
   Posts: 280

   Since my IRA accounts were with Vanguard and that's where, aside from emergency funds, my assets are, I used Vanguard for stock trades last year. At $7, their trade fees are pretty decent, but they don't have many tools to speak of.

   Now that I have enough funds to begin trading outside my tax deferred accounts, I've been looking around for a new brokerage. My eye was on Scottrade, but TradeKing is running a decent promotion this month, so I decided to go with them.

   http://www.thedividendguyblog.com/open-a-trading-account-and-put-50-in-your-pocket-promotion/

   Posted 2 years ago #
2. 

   JohnnyH
   

   Expert
   Joined: Jul '10
   Posts: 1,363

   I'd recommend SogoTrade. $3 flat... Very good executions. Also, there is SogoElite, at .004 cents / share.

   If you're using margin, be sure to checkout interactive brokers for excellent rates (1.15-1.65%)... Although, IB is not user friendly.

   Posted 2 years ago #
3. 

   AlexOliver
   

   Master
   Joined: Aug '10
   Posts: 461

   I've heard Zecco offers a $25 bonus.

   Posted 2 years ago #
4. 

   JohnnyH
   

   Expert
   Joined: Jul '10
   Posts: 1,363

   I've had many terrible experiences with Zecco... Horrible broker, horrible slippage. It's really just a front end call center for Pension, which isn't really a retail brokerage anyway.

   WellsFargo does free trades when you have 25k with them... Haven't tried them, but probably better than Zecco.

   Posted 2 years ago #
5. 

   George the original one
   

   Expert
   Joined: Jul '10
   Posts: 1,939

   I'll second JohnnyH's opinion of Interactive Brokers. I've recently signed up with them as a second account with plans to use their margin rates--even with the $10/mo maintenance fee for not trading enough, their margin rate is still <3% on a $10k account! Not a broker for noobs.

   My regular broker is Ameritrade. Margin interest is outrageous, trades are something like $9.99, but good service and the monthly statements & tax statements are the nicest I know of.

   Posted 2 years ago #
6. 

   Benjamin
   

   Novice
   Joined: Oct '10
   Posts: 15

   Anybody have experience with TradeKing?

   Posted 2 years ago #
7. 

   Benjamin
   

   Novice
   Joined: Oct '10
   Posts: 15

   I take the silence as a no ;-)

   In that case, which online trading platform do you have? Pros? Cons? If looking for an online account now, would you go with the same company you have now?

   Posted 2 years ago #
8. 

   Maus
   

   Master
   Joined: Jul '10
   Posts: 504

   I've been very satisfied with Scottrade with the exception of the interest paid on their sweep account. $7 trades and no maintenance fees. But base rate for margin is <= 8% depending on account balance.

   Posted 2 years ago #
9. 

   dragoncar
   

   Expert
   Joined: Oct '10
   Posts: 1,287

   I use Fidelity out of habit. Trades are a bit more (around $8) but I try not to trade often. Margin is high too, but I don't use that. Great customer service. No compelling reason to switch.

   Posted 2 years ago #
10. 

    Robert Muir
    

    Journeyman
    Joined: Jul '10
    Posts: 280

    I'm still using Vanguard. Pluses are $7 trades, free Vanguard ETF and mutual fund trades, and free retirement accounts.

    Minus is that options aren't easy and few tools.

    Posted 2 years ago #

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