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I am another person who retired young--age 50. For years I used a full service broker, but now I'm tired of paying him $50 every time I want to do something. That $50 could be put to better use. Now that I have a lot of time to do my own research, I am looking for a good on-line broker so I can save money. Do any of you have any opinions on which companies are better than others--or better yet, who to stay away from? I would be very interested in hearing what you have to say!
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Hi happilyretired,

I'm jealous! Unless the folks here at Sweatshop Inc. fire me or offer me a package (fat chance), I've got 11.5 months to go before I'll be "happilyretired."

TMF offers some great info on how to choose a broker, start at this link. (Or click on CHOOSE A BROKER at the Home Page.)

http://www.fool.com/media/discountbrokeragecenter/discountbrokeragecenter.htm?ref=main

You'll find lots of good advice and further links to a discount broker message board.

My broker is TD Waterhouse, and it works for me. But you might want cheaper trades, different services, or faster response. Who can say?

Cheers,
GW
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I am another person who retired young--age 50. For years I used a full service broker, but now I'm tired of paying him $50 every time I want to do something. That $50 could be put to better use. Now that I have a lot of time to do my own research, I am looking for a good on-line broker so I can save money. Do any of you have any opinions on which companies are better than others--or better yet, who to stay away from? I would be very interested in hearing what you have to say!

I have used www.datek.com for 2 years, trading infrequently and have had no problems at all with them. www.gomez.com rates most of the on-line brokers, based in part of the type of trading that you want to do.

arahFool
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I have been retired for about 3 years and used a
broker for about a year and half. Wasn't satisfied
with them because they charged a lot money to trade.
And it seemed like he was always trading my stock and
mutual funds. I quit him and went on my own. I open
an account with T. D. Waterhouse and I really like them. They treat you real good. lI recommend them highly.....My IRA account is doing real good. My opinion....You might check them out....
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TDWaterhouse gets my business too. I have had them for nearly two years and they offer all of the services I need. I had real bad experiences with MLH and Smith Barney so its great to find an outfit I'm comfortable
with. I may be an old fool, but i don't feel it!
Good luck for 2000, I never thought I'd make it!
- - Matthew
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<Now that I have a lot of time to do my own research, I am looking for a good on-line broker so I can save money. Do any of you have any opinions on which companies are better than others--or better yet, who to stay away from? I would be very interested in hearing what you have to say! >

Everyone has different ideas over what is the most important feature in dealing with an online broker. For some the only issue is trading cost. For others, products offered, reliability, or convenience (having a local office), etc. are most important.

See if you can find a copy the June 1999 issue of SMART MONEY. They give a complete review of the top 21 discount brokers. They give them all an overall rating and a rating by catagory. Siebert was the #1 overall. Schwab was #1 for online trading. Waterhouse was rated #1 for breadth of products and extra services. The article also gives an 800 number for each firm reviewed. Decide what issues are most important to you, then make your decision. Good luck!

BRG
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Scottrade (Scottsdale Securities) is great to do business with and their local office is 10 minutes from my home. You can't beat their $7 per trade price. You'd have to be a fool (small f) to pay more!
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there's an url: gomez.com which rates online brokers. After I signed up with Scottrade and they never got anything right, including failed after a month to activate my account. Meanwhile I found the Scottrade web page balky.

I found Gomez and it indicated that Scottrade was in the forties while Etrade rated first for user ease.

Needless to say, i'm at ETrade and I love it. jc
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