Help me pick a broker

[Shamus13]

I finally feel comfortable with the idea of jumping into the market outside of my TSP. I’m planning on trading ETF’s but am hoping you guys can help me pick a broker. I searched this site, ETF Talk and reviews of brokers online but all the info has made pulling the trigger even harder.

1. Who do you suggest to pick (or avoid) for a broker? Can you give examples why?
2. I’m looking for the best bang for my buck. Free or low cost trades but want customer service and a good platform that’s real time that has tools to help chart.
3. What things should I be aware of? Hidden fees, trade restrictions, etc.

I was considering TD Ameritrade, Scottrade, Vanguard & Fidelity. However, I have just learned of Optionshouse, Interactive Brokers, OptionsXpress.
Thanks for any help.

 

[moe1joe2]

I finally feel comfortable with the idea of jumping into the market outside of my TSP. I’m planning on trading ETF’s but am hoping you guys can help me pick a broker. I searched this site, ETF Talk and reviews of brokers online but all the info has made pulling the trigger even harder.

1. Who do you suggest to pick (or avoid) for a broker? Can you give examples why?
2. I’m looking for the best bang for my buck. Free or low cost trades but want customer service and a good platform that’s real time that has tools to help chart.
3. What things should I be aware of? Hidden fees, trade restrictions, etc.

I was considering TD Ameritrade, Scottrade, Vanguard & Fidelity. However, I have just learned of Optionshouse, Interactive Brokers, OptionsXpress.
Thanks for any help.

Scottrade

 

[Birchtree]

I use Merrill Edge that is linked with my Bank of America checking account - money can move in fluid fashion. Now because of my account balance I qualify for 100 free trades per month. This type of setup allows me to nibble without ending up in the commission poor house. I'm also a margin player which allows me plenty of opportunity for leverage. I believe the normal cost is $6.95/trade and can drop to $4.95/trade and once over $50,000 you get 30 free trades. There is however no one to hold your hand until you reach the platinum level. All my dividends are automatically reinvested for the moment but you can sweep them into the checking account. I'll be building an income stream for my wife's IRA when she finally gets out of the saddle. Her IRA is under my account umbrella. This is just one way to handle investing.

 

[RealMoneyIssues]

I finally feel comfortable with the idea of jumping into the market outside of my TSP. I’m planning on trading ETF’s but am hoping you guys can help me pick a broker. I searched this site, ETF Talk and reviews of brokers online but all the info has made pulling the trigger even harder.

1. Who do you suggest to pick (or avoid) for a broker? Can you give examples why?
2. I’m looking for the best bang for my buck. Free or low cost trades but want customer service and a good platform that’s real time that has tools to help chart.
3. What things should I be aware of? Hidden fees, trade restrictions, etc.

I was considering TD Ameritrade, Scottrade, Vanguard & Fidelity. However, I have just learned of Optionshouse, Interactive Brokers, OptionsXpress.
Thanks for any help.

I like TD Ameritrade because of the platform although the slightly higher fee bothers me sometimes... I like their customer service too.

 

[tsptalk]

I use Scottrade and Fidelity. Both have pluses and minuses but they are fine for what I am doing. Fast trades, $7 - $8 commissions, decent tools. No complaints.

 

[k0nkuzh0n]

Do you guys find yourself using the commission-free ETF/mutual fund options your broker offers?

 

[alevin]

options Xpress has good customer service. One reason I've stayed with them, once I got convinced they weren't going down a couple years ago. Scottrade has issues with their site security, which is troublesome to say the least. I'll be looking at International Brokers or Wealthfront or both, one of these days, not yet. minor problems with personal inertia.

 

[Bullitt]

Old thread, but here's another option. I can't vouch for them, but it's a tantalizing offer....

Open an account with minimum $2,000, keep the money in there for 3 months, receive 100 shares of a stock of your choice (from their list) worth a greater than $200 total.

100 Shares of Stock Offer available to all approved new customers (as determined by tax ID) who fund their tastyworks account with $2000 USD

https://info.tastyworks.com/100shares

 

[DreamboatAnnie]

I like it...but must say, it seems a little too good to be true. :worried: Then again, depends on real value if 100 free shares. Would definitely need to check them out before giving them any money. I kinda like the bigger names... Interactive Brokers. :smile: