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Please share your thoughts and recommendations for an online brokerage account. My wife and I both have Roth IRAs and 401ks but looking for the ability for single stock purchases and ETFs through an online brokerage account. Nothing to be heavily traded.
It sounds like TradeKing would be best for you. It's very easy to navigate and you have all the tools if you want them. They have live chat that almost instantly connects you with a person or you can call, but I find the chat feature quite nice. You can also setup your bank account, so not only can you directly deposit from your account (which most brokerages allow), BUT they also let you WITHDRAW from your TradeKing account straight to your bank. This is a feature I haven't seen on any brokerage and I've used a lot. And then one of the most important things especially for your case is... commission for stocks and ETFs is only $4.95.
Please share your thoughts and recommendations for an online brokerage account. My wife and I both have Roth IRAs and 401ks but looking for the ability for single stock purchases and ETFs through an online brokerage account. Nothing to be heavily traded.
Thanks.
Tradeking and Fidelity are my favorites. Tradeking is for more active traders at only $4.95 per trade.
I use E Trade. One thing I like is that they give you this little password key that changes every 2 minutes of something like that. You enter the number after your password. This protects your account from getting hacked by some guy in Russia or China.
Do you already know which ETFs you're planning on buying? Some brokerages offer commission-free trades for certain ETFs.
Thanks for all the help. TradeKing was definitely on my radar for everyone who posted.
I do not know about which ETFs at this point but something like TD Ameritrade offers 100+ ETFs, which is very beneficial for someone like us who won't be doing large sums at a time when purchasing. I also live in a city where there is a actual TD Ameritrade branch store in town if I needed to meet someone face to face. Things like ease of use, free ETFs and good reputation are probably more important to us than cheap stocks trades since we won't be buying a ton of individual stocks or purchasing/selling often.
TDAmeritrade would be a waste because their fees are so high because they have the most advanced tools for traders. TradeKing and Scottrade are typical for those with a small amount of money or those who aren't constantly trading.
TDAmeritrade would be a waste because their fees are so high because they have the most advanced tools for traders. TradeKing and Scottrade are typical for those with a small amount of money or those who aren't constantly trading.
It depends. If they're mostly going to be buying ETFs like VTI and BND with the occasional single stock purchase, it could still make sense to go with a brokerage where those ETFs are commission free, even if the other trades are more expensive.
TDAmeritrade would be a waste because their fees are so high because they have the most advanced tools for traders. TradeKing and Scottrade are typical for those with a small amount of money or those who aren't constantly trading.
I see it both ways and could agree with you. But the commission free ETFs are attractive for us to not have a large portion of our investing money being taken by trading fees on ETFs that others offer free, especially with the low dollar amount we will likely starting investing.
Good points that and I get where you are coming from.
Quote:
Originally Posted by Mr. Zero
It depends. If they're mostly going to be buying ETFs like VTI and BND with the occasional single stock purchase, it could still make sense to go with a brokerage where those ETFs are commission free, even if the other trades are more expensive.
Yea, we look at most stock purchases as long term investments. We are in our late 20's and have been consistently putting money into 401ks and Roths for a few years now. We will not be looking at needing to make money each year off of stock purchases for added income. It's more so for retirement purposes with maybe occasional added income with stock purchases when we have more disposable income.
The ETFs interest me, and commission free ones specifically, because with no fees to purchase and low expense ratios you are not getting eaten up with fees just to have the fund. I am also interested at this time in buying some individual stocks of companies in a down market.
Just be careful that you don't go to a brokerage where you avoid the trading fees for many of their ETFs, but your paying a higher % of their management fees because there are expenses are higher.
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