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Which Investment firms to use
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Post is unread #1 Mar 9, 2009, 10:30 am
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So I'm getting on board with investing again heavily after I pulled my stocks/mutual funds out 2 years ago.
I just setup an account with Scottrade, but have noticed they lack in some investing options/opportunities.
I had heard through Jesus that maybe Ameritrade is a better idea.  Any of you have any advice on this?  Ideally I'd like to start investing in some energy trusts and such. .........................
meh.
Post is unread #2 Mar 9, 2009, 11:03 am
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Scottrade has some of the lowest fees around. Stay away from Fidelity, way expensive unless you've got a ton of money in there. Never used Ameritrade.

Back when I was still commuting in Chicago, I used to see ads for Zecco all the time advertising free trades. According to their site, if you maintain a $25k+ balance, you get 10 free trades a month. That could save you handsomely, though I'd look around more to see how reputable they are. .........................
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Post is unread #3 Mar 9, 2009, 11:20 am
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yeah I got in with scottrade because of the standard $7 trade fee.  Way less than say ..eTrade. .........................
meh.
Post is unread #4 Mar 9, 2009, 1:01 pm
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I've stuck with Ameritrade. Sometimes things like Scottstrade and others don't allow OTCBB and small time things.

But NYSE is almost standard on everything. There may be some other limitations on short selling due to what Scottstrade uses to make their prices cheap. .........................
"My new conclusion for the time being is lcde either doesn't read what other write or has the memory of a goldfish."
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Post is unread #5 Mar 9, 2009, 1:13 pm
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This member is currently offline pr4wn0r uber member Member Level
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I use optionsxpress.com

It is a standard $14.95 per trade cost, but there is no hidden fees, no limits, no nothing, always $14.95.  I opted to go with them because at the time they came highly recommended from someone that has doing heavy trading and had been for years.  While it may not be the most ideal now having to pay $15 for everything, my plan was later down the line I'd make that up when not getting tricked with hidden fees.  Also they allow you to trade options with an IRA which I think is somewhat unique?  I don't know all about it because I have only traded options twice.  You can also sign up (for free) and trade for free with "fun money" if you are not ready to invest.  If anyone wants to sign up, let me refer you so I get 10 free trades though! .........................
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Post is unread #6 Mar 9, 2009, 2:56 pm
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ameritrade is now the same. but at $9.99 buy and $9.99 sell.

Do you pay $15 to buy and sell? or just buy? .........................
"My new conclusion for the time being is lcde either doesn't read what other write or has the memory of a goldfish."
Now I will never forget!

Every time PETA makes a model dress in the nude or with a carrot on their crotch I keep thinking how they treat women like pieces of meat.
Post is unread #7 Mar 9, 2009, 2:58 pm
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Next year i should compete and take down the old german beer hall.

Its the boobs that got them. :( .........................
"My new conclusion for the time being is lcde either doesn't read what other write or has the memory of a goldfish."
Now I will never forget!

Every time PETA makes a model dress in the nude or with a carrot on their crotch I keep thinking how they treat women like pieces of meat.
Post is unread #8 Mar 9, 2009, 3:11 pm
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I know you're talking about the chili cookoff lcde. And I agree.  But we're talking investment firms here .........................
meh.
Post is unread #9 Mar 9, 2009, 3:13 pm
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lcde said:
ameritrade is now the same. but at $9.99 buy and $9.99 sell.

Do you pay $15 to buy and sell? or just buy?


$15 goes both ways, like a bisexual. .........................
Robin: Batman is doing his best to be gay, but i can tell his heart isn't in it
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Post is unread #10 Mar 10, 2009, 9:20 am   Last edited Mar 10, 2009, 9:22 am by jesus
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I guess I wasn't entirely sure Scottrade or Ameritrade was better, so much as Ameritrade offered some additional options, as he touched on above.  I personally haven't really done much research yet.  But yesterday I was searching around for some comparisons of online brokerages.  I came across an MSN Money article which I am just finishing up this morning.

It's funny that pr4wn0r mentioned OptionsXpress, because they listed that as #1 in the article.  However, while reading through it, my conclusion is that you have to pick the one that falls into YOUR personal criteria.  Because some are pretty awesome in a few areas but lacking in another (ie. there's no perfect all around option).  Areas such as customer service, tax statements, web site, [hidden] fees, and research to name a few.

I am going to continue doing some research, but I am leaning towards OptionsXpress at the moment.  Especially now that I've heard about a real person using it! (Thanks pr4wn0r!)

Out of curiosity, any recommendations on an initial amount to open an account with?  I was considering something in the 1k-2k range, but am not sure if that's too little?
Post is unread #11 Mar 10, 2009, 9:24 am
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I'd say open up with 1k and play around a bit for several weeks before you really start trading heavily. .........................
meh.
Post is unread #12 Mar 10, 2009, 9:57 am
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I started by putting $100 bucks in a week until I had about a grand before I made my first trade.  There is no minimum for them. .........................
Robin: Batman is doing his best to be gay, but i can tell his heart isn't in it
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Post is unread #13 Mar 10, 2009, 10:28 am
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This OptionsXpress does look interesting.  I like that that a variety (~5400) things for me to invest in.  Much more variety I'm seeing already than what Scottrade has.  I'll keep my money so far with Scottrade but I think I might open up an account with these new guys too. .........................
meh.
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