I'm receiving extra income, and I'm looking to invest it in stocks. I've got basic knowledge of the gameplan in the stock market. I'm looking to open an account with an online broker, but I don't know which one would best suit my situation. I'm looking for: -No maintenance, inactivity, annual fees. -Low minimum required balance. -Reasonable trade costs. -Easy to use (since I'm just starting). -Customer service. Generally, I want to do mid to long-term trading. But most of my activity would come from short-term. I'd be looking for companies that are in trouble but have a good chance of rebounding (acquisitions/mergers, plentiful capital, etc.). I've been watching stocks, but I've never entered the market.
I forgot to mention that I'm looking at Scottrade, ShareBuiler, or E*TRADE. Any advice would be much appreciated
scottrade is fine. just curious how you determine when a company has a good chance at rebounding. i wouldn't want one of my fellow clutchfans to get blown out of the water in the market.
I use Etrade, and I like the layout of the website a lot. There research tools are easy to use, and the customer service is great. However, trading fees are a bit high (12.99 a trade). I have heard good things about Scotrade and their trading fees aren't bad plus it seems like it competitive with the rest of the well known online brokers. There are also some smaller online brokers such as zecco that have very low fees so you might want to look into those as well. Does anyone use zecco? If so, how is it?
Most all the discount brokers are the same. I think E-Trade is a little better in terms of customer service in that they have that Live Help feature where you can communicate with them via instant message. If you want 100% free trades go with Zecco. The interface isn't the best, but you can place upwards of 20-25 free trades each month. My preference is Optionsxpress. They are hands down the best broker I've dealt with. You can trade futures along with stock and options on the exact same web based platform.
Yeah, I'm thinking about switching to Optionsxpress. I started a virtual trading account with them, but am definitely thinking about switching over from etrade to them. The interface isn't too bad, and the service is great with a bunch of research tools.
im a novice trader like you and i use schwab. there are no account fees, and their customer service has always been helpful whenever i have called them (though i hvae nothing else to compare them to). it works great for me, as i'd rather have them take commission for the few times i do trade rather than pay a monthly fee.
I use Fidelity for my personal accounts (namely because when I opened the accounts I had Fidelity with my 401(k)), and I am very happy with the customer service. Any time I have questions, it's really easy to get a helpful person on the phone, and trades are pretty cheap. I have a custodial account for my little brother through Sharebuilder, and it is not good for anyone that trades much, and is more expensive than other options. If you want to invest a few bucks at a time, it's your only real option, but if you've got more money, go with someone else.
It might not occur very often, but sometimes major companies' stocks go down for very valid reasons. The prices reflect what the market thinks the company is worth right then and there. Major banks, for example, were low because of the current economy situation. Of course, research and current events are part of the formula. I'm curious to know. When a company is about to be bought by another company, who's stock will go up? For example, the Blockbuster/Circuit City situation. Blockbuster wants to buy Circuit City. Who's stock will improve after the acquisition?
^ the target's price usually goes up insofar as the offer is generally a premium over teh market price, the acquirer price will sometimes go down, but its not written in stone.
I'd like to stay with a well-known online broker for the stability. Etrade seems good with the Live chat feature, but I've read so many hidden/new fee stories. I've seen nothing but good reviews from scottrade because they are a private company, but they supposedly don't offer a lot the extra things line how-to's/advice, etc. I never really heard of Optionsxpress, but at quck glance, they seem great for my situation. Do they have any annual fees? Fidelity seems like a good overall broker. What are the extra fees you have to pay (monthly/annually, maintenance, etc.), and is there a minimum on volume? I REALLY like the live chat feature on etrade. How insightful are their customer service reps on trading, or do they offer advice at all? I'm thinking leaning toward scottrade since I've seen them in every good broker review. Customer service seems great overall, and they have a physical office nearby. What it lacks is the 'special features,' and they won't hold my hand through my stock experience. Could I find that information from a 3rd party like Kiplinger?
http://www.consumersearch.com/www/internet/online-brokers/ http://www.smartmoney.com/brokers/index.cfm?story=august2007 http://online.barrons.com/article/SB120554254483438485.html
Are there any credit checks when opening an online broker account? I think I'm going with Scottrade. Low fees, good for buy and hold, and good for beginners with smaller money amounts. I'll graduate to a deeper online broker when I get comfortable. But we'll see, I'm not going to rush. Thanks for the input, more is welcome
Wells Fargo has free trades, as well.* *Have to have $25K in their account and the first 100 trades per year are free. 100 Commission-Free Trades
I bank with them, and can pay $25 monthly maintenance fee for a PMA; then still use the brokerage account, along with the 100 free trades. After they run out it's $10 bucks a trade.
