Hey guys. . .shopping for a new online broker. Who does everybody use, and what do you like and dislike?
Scottrade is what Im using right now. Cheap trades. Only problem is that they don't do electronic bank withdrawls so you either have to mail them a check or take one to one of their branches. Other than that I haven't had any problems.
I do all my investing through Vanguard Group these days. Actually, pretty much anything financial outside cash flow (local bank) and insurance products are done with them at this point. The service is great and the investment offerings can't be beat. In the past I've used eTrade and Scottrade. Both are solid platforms, but I've consolidated with Vanguard.
Interactive Brokers. Amazingly cheap commissions and a huge selection of different markets. Sign up process was painless and everything can be done electronically. The downside would be their monthly fee of $10, though keep in mind that it's more of a "minimum commission per month" than an actual fee.
Ive used etoro and Plus 500 before. Plus 500 do various stocks, forex and precious metals. There are so many to choose from maybe you would like to do some research and look at reviews. Test the water with a demo account first and see if you like it.
It's hard to find a broker that excels in everything but that being said, if I had to choose one broker that is solid for most markets and strategies, it'd be interactive brokers. Still, it's never good to stick with just one broker though. Just like you'd adopt different trading strategies to different market conditions, you should adopt different brokers depending on your trading strategies. For example, if you're focusing on trading options, thinkorswim would be your best-bet.
Great thread guys. I've been using e*Trade and Ameritrade for so long that I never even considered to look into anything else. But several of these recommendations that have been suggested above are great.
I am currently looking for one and there are so many options in this thread. It's very useful for people like looking for an online broker. My friend suggested to me the other day to use Scottrade since he uses it but it seems like eTrade is a good option too.
By the way, ameritrade bought thinkorswim in 2011 so as a ameritrade customer, you now get access to the thinkorswim trading platform which is miles better than ameritrade's. There's a desktop client but the mobile app is terrific too if you're into on-the-go trading.