Brokerage - who does everybody use?

Discussion in 'Online Brokers' started by Stacked, Feb 13, 2014.

  1. DivvyDiv

    DivvyDiv New Member

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    I use Scottrade. Contrary to what someone said above, they do allow electronic bank transfer. I use it all the time to put money into my account. They have decent stock screeners and some free research reports. This is the only online broker I have ever used so my knowledge of how they compare with others is limited.

    I have no complaints about them.
     
  2. bms00

    bms00 Member

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    My brokerage account is with Scottrade. $7 a trade and they go through in a second. Also they give you 5 free trades if you refer someone. They've also been very professional and helpful the few times I've had to contact them about something.
     
  3. wanderingwildman

    wanderingwildman Well-Known Member

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    I also use Scottrade. I can't believe that they don't have a program set up yet to have funds electronically withdrawn. I just don't even understand how they could be that far behind the times.
     
  4. crimsonghost747

    crimsonghost747 Senior Investor

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    The thing is, once you are comfortable with one broker it's hard to change. I started with something else than Interactive Brokers but I would have never changed if it weren't for the ridiculously cheap comissions. With my old broker US stocks had a commission of about 20 euros, whereas with IB I pay $1.
     
  5. yossup

    yossup Member

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    If you're a newb, go with scottrade, etrade, amertrade, and the likes. If you are pro, you can shop around a bit. My favorite broker, like the above poster, is IB because their commissions are just so ridiculously cheap. For most normal-amount of share-trades, you'll only have a dollar commission. DOLLAR!
     
  6. firelily99

    firelily99 Well-Known Member

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    Thanks for all of the options that people posted. Plenty of them to choose from! Are their any online brokers that we should absolutely avoid?
     
  7. N3wgirl

    N3wgirl Member

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    Well I use two different brokers, Chase bank is okay for the world of investing. I must say that I love Scot trade more. I think the webpage is presented better and navigation of it is much easier.
     
  8. Strykstar

    Strykstar Well-Known Member

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    Wouldn't IB be better for everyone, since it does the same thing as the other brokers and has the super low fee? Even as a newbie, it's always better to get the lowest fee possible, right?
    What advantages do those other brokers have?
     
  9. JadeDoo

    JadeDoo Well-Known Member

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    Interactive Brokers should be the only choice. By far the lowest commission fees. It's a buck a trade for equity and options. The only reason I could find for you using something else is if you want to invest in equitys for a Tax Free Savings Account or something of the sort. I don't know if you guys in the US have something equivalent to that but as a Canadian that's the only reason why I would even consider using something else other than IB.
     
  10. Thejamal

    Thejamal Guest

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    Went with Interactive Brokers after checking out this thread a bit ago and so far haven't had any complaints with them. Site interface is really easy to use, the commission frees are cheap.
     

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