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Neither. I like Tradeking because it has the lowest commisions.
There are 3 things an investor should never be concerned about or make investment decisions around:
1. Commissions:
If you worry about those, how are you going to sell a losing stock or even a winner, when the $7.95 or $9.95 is clouding your decision?
2. Dividends:
Never, ever buy a stock because it pays a dividend. y
You should want your company's management team to make the stock go up $1 a year, versus a few pennies in dividends.
3. Tax consequences:
You want to pay all the capital gains taxes you can pay.
The more you pay the more you made on your investment.
Ignore dividends and taxes and commissions and you can make better investment decisions.
And if investment is spelled: G A M BL L I N G,
then keep your $ in a CD.
There are 3 things an investor should never be concerned about or make investment decisions around:
1. Commissions:
If you worry about those, how are you going to sell a losing stock or even a winner, when the $7.95 or $9.95 is clouding your decision?
It depends on what your strategy is... but it should be pretty low on your list for sure. I have to be honest, I like Fidelity because of their commission-free ETFs.
Quote:
Originally Posted by howard555
2. Dividends:
Never, ever buy a stock because it pays a dividend. y
You should want your company's management team to make the stock go up $1 a year, versus a few pennies in dividends.
It doesn't matter whether the value of the chicken doubles or it starts laying twice as many golden eggs.
All that matters is that the company has solid performance. Best to use DRIP for dividend reinvestment, if you aren't ready to take your profits.
Additionally, dividends allows you take some profits without paying commission, if that's your intention.
Quote:
Originally Posted by howard555
3. Tax consequences:
You want to pay all the capital gains taxes you can pay.
The more you pay the more you made on your investment.
I think right now is the most important time to be concerned with tax consequences. You have to way your options with the current capital gains rate vs future capital gains rates. As of right now, it's in the best interest for many to take their profits prior to 2013.
While I agree with you that commission structures are not worth sacrificing other aspects of the brokers, I disagree with you on everything else.
Also, I personally would never switch to tradeking.
Well why not take TK anyway since its the lowest unless you are getting a better benefit elsewhere that will outweight the low fees?
Quote:
Originally Posted by howard555
There are 3 things an investor should never be concerned about or make investment decisions around:
1. Commissions:
If you worry about those, how are you going to sell a losing stock or even a winner, when the $7.95 or $9.95 is clouding your decision?
2. Dividends:
Never, ever buy a stock because it pays a dividend. y
You should want your company's management team to make the stock go up $1 a year, versus a few pennies in dividends.
3. Tax consequences:
You want to pay all the capital gains taxes you can pay.
The more you pay the more you made on your investment.
Ignore dividends and taxes and commissions and you can make better investment decisions.
And if investment is spelled: G A M BL L I N G,
then keep your $ in a CD.
If you have your investment capital ready and have no broker, then sure, shop around for the one that gives you the best "overall" account features, compared to others.
I pay $7.95 per trade with Schwab and I am not looking to switch, just because others offer less than $7.95.
My point was, when I find an opportunity to buy and/or sell something, no matter how often, the amount of the commission is farthest in my mind. I concentrate on the investment decision I am about to make, and whether the commission is $4.95 or $9.95, I do not care.
If I do care, I need to get out of stocks.
And who do you like the best-- Schwab or Ameritrade?
I think E-Trade was the best online broker, until they got into mortgages. According to CNN, 60% of the mortgages they financed in 2006 and 2007 were no doc. No way that's gonna end well.
Hey there,
I would say I disagree, respectfully of course. SCOTTRADE is awesome, I've been using it for some time now and love it! It requires only $500 to open an account, you have access to free research tools, free ETF's and only $7 trades!!
Use the referall code: TVTS6167 and you will get an additional 3 FREE trades!!
Reading through some posts has made me realize that many people come on posts like this to blow smoke up...well you know where. People DO buy stocks that pay dividends, especially one's like Pfizer and McDonald's to name just 2. It's called "Dogs of the Dow" strategy and because of the poor market conditions we're in currently, people will take gains anyway they can get them. Especially great companies that continue to increase their payout amount..But yes, don't buy a company JUST because they pay a hefty dividend...that's rediculous to begin with!!
With that being said, for those of you deciding between several trading platforms, use SCOTTRADE!! I've been using it for 6 months or so and love it! I haven't paid for a trade yet either! By using referall codes you get 3 free trades and the site allows you to research, trade, access to some free ETF's and much more!
** Use my referall code: TVTS6167 and you get 3 free trades***
I have been with Fidelity Investments for 7 years. They are excellent. They provide education, information and overall #1 customer service. They don't treat you like a number. They treat you like a valued customers and treat you as if they depend on you and not the other way around. I have dealt with many financial institutions and I can say Fidelity is the best. They also have great brokerage account features that allow me to use it fee free( besides commissions). I always choose quality of quantity. Fidelity may not have the lowest fee of $7.95 but the quality of their customer service is priceless. I have all my 529's, Roth and cash management account there. I don't lose any sleep with Fidelity.
Their website and chat features are also user friendly. I tried to use Ameritrade for a Coverdell and brokerage. I found the site to be to overcrowd and difficult to navigate.
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Scottrade
Especially great companies that continue to increase their payout amount..But yes, don't buy a company JUST because they pay a hefty dividend...that's rediculous to begin with!!
