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Are online sites cheap for buying stocks? I currently buy them through a brick and mortar brokerage which I pay a fee for management and stuff but are online sites like etrade cheaper? better?
There are probably cheaper ways, but I use a discount online broker and pay $7/trade. That's low enough for me not to want anything cheaper. As long as it's less than $15-$20, I won't complain.
I use Scottrade for $7. I don't like eTrade. They put a 5 day hold on my first deposit because that is "their policy" even though the check had cleared. Needless to say I closed the account and switched. The stock I could have bought at $2.75 was $3.09 by the time I bought it.
When you say $7 per trade do you mean for each share or is it without any limits to how many shares you buy for only $7? Do I have to trade frequently or can I just trade whenever I want...
When you say $7 per trade do you mean for each share or is it without any limits to how many shares you buy for only $7? Do I have to trade frequently or can I just trade whenever I want...
$7 for all the shares. I think it used to be a max of 5000 or 10000 shares but that could have changed, I don't know. If you're buying 200 shares of IBM or whatever, then it's $7 for that trade.
I haven't used Scottrade too much to know if limit orders are a different price. You'll have to check that. But even if they are, it's not too much more. Some brokerages have slightly higher prices for limit orders.
"Buy IBM at $100" if IBM is now trading at $102... that is sometimes slightly higher. Just read the price chart. But it is for all the trades. Pretty cheap.
Trade King charges $4.95 per trade. It takes a while to get the account funded, though. First there was a 5 day delay getting the ACH transfer setup good to go; then there was a 5-day hold on my initial deposit. I'm not sure if there is a 5 day hold on subsequent deposits.
Trade King charges $4.95 per trade. It takes a while to get the account funded, though. First there was a 5 day delay getting the ACH transfer setup good to go; then there was a 5-day hold on my initial deposit. I'm not sure if there is a 5 day hold on subsequent deposits.
Correct, Tradekingcharges $4.95 per trade. However, trades below $2.00 a share is additional 1 cent per charge. But is still cheap compared to others. Do other onlinebrokers charge 1 cent per trade for for stocks bellow $2?
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