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Old 12-09-2013, 06:56 PM
 
Location: New York
757 posts, read 986,123 times
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I'm thinking of starting an account with one of the online brokerages I listed above. I just wanted to know, will I have to pay monthly fees for anyone of these accounts? Also, which one would you suggest for someone who is new to this stuff? Thanks
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Old 12-09-2013, 07:37 PM
 
Location: US
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No you don't need to pay monthly fees, you pay commission every time you buy, sell etc.

I've used all three of those brokerages and the best for basic trading (buying, selling, shorting, call options, put options) is Scottrade. They only charge $7 per trade, their website is very easy to navigate and understand and they are the most willing brokerage to lower your commission rate if you trade a lot. You also have a designated branch you can contact, which is nice because you'll talk to the same people every time.

If you are an experienced trader and already have an understanding for in-depth technical analysis then I would recommend Ameritrade. They charge $10 per trade.
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Old 12-10-2013, 07:45 AM
 
1,770 posts, read 1,432,476 times
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I personally like Scottrade. Why pay $10 at Ameritrade when you can pay $7 at Scottrade.
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Old 12-10-2013, 08:25 AM
 
392 posts, read 738,994 times
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I use Ameritrade and platform thinkorswim looks really nice. Etrade is little messy at least to me.
Didn't try Scottrade yet.
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Old 12-10-2013, 01:25 PM
 
Location: US
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Quote:
Originally Posted by oneslip View Post
I personally like Scottrade. Why pay $10 at Ameritrade when you can pay $7 at Scottrade.
Ameritrade offers more than Scottrade. For example, you can watch CNBC live for no fee. More importantly, their thinkorswim platform is far advanced than anything Scottrade offers. Ameritrade also offers IPOs, where as Scottrade does not. However, thinkorswim is far too complicated for a novice investor or even an intermediate investor to understand and use it properly, so for the OP, I think Scottrade would be the best choice.

Etrade is just a dinosaur that should be put out of its misery.
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Old 12-12-2013, 05:34 PM
 
1,770 posts, read 1,432,476 times
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[quote=bmw335xi;32560835]Ameritrade offers more than Scottrade. For example, you can watch CNBC live for no fee. More importantly, their thinkorswim platform is far advanced than anything Scottrade offers. Ameritrade also offers IPOs, where as Scottrade does not. However, thinkorswim is far too complicated for a novice investor or even an intermediate investor to understand and use it properly, so for the OP, I think Scottrade would be the best choice.

You can actually get highly sought after IPO shares? What is the minimum to purchase IPO shares? I understand underwriters require individuals to pony up at least $100K before any shares released.
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Old 12-13-2013, 01:07 AM
 
Location: US
22,392 posts, read 21,233,907 times
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@oneslip

Brokerages such as Ameritrade and Charles Schwab seem to award only a small amount of shares for IPOs for normal investors like us. Sometimes you won't receive any, it depends on a number of things such as your account balance and how much you trade. We're talking only a couple thousand worth of shares, even if you ask for more.
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Old 12-13-2013, 06:28 AM
 
Location: Houston
20 posts, read 35,474 times
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bank if America offers 30 free trades a month depending on the amount of assets you have or based on mortgages business you have with them
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Old 12-14-2013, 07:30 AM
 
392 posts, read 738,994 times
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Maybe Zecco they are charging 4.95 per trade.
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Old 12-19-2013, 12:31 PM
 
280 posts, read 308,123 times
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Did you check TradeKing? Its cheap. I am looking to open the investment account too but kind of have same question.
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