I'm slowly getting the nerve (and money) to try my hand with a discount broker. Advice from friends encourage me to go with Scottrade or Firstrade, as they offer cheap trades and have a solid online trading service. Any advice one way or the other out there? Will appreciate your input.
Hi there jimth123:I will also encourage you to take the plunge. I personally use Scottrade, and I have had excellent service and response for the last 18 months. I read a number of Scottrade response time problems on the Discount Brokers Message Board back when I first started, but I never experienced any problems (that I didn't generate myself). They have an office about 20 minutes drive from my home, I have actually been there about twice. I am into my account nearly every week for one reason or another. I've had about three experiences with their customer service department when I couldn't get something to work, and they always knew exactly what I had done wrong. I keep a sizable sum with them, so I don't get any fees other than their advertised $7 trade fee. They get a high rating from this Fool. Dont know Firsttrade, but you can probably find out about them on the Fools Discount Broker Message Board.Fool on jimth123foolThe Nerdifool
I second everything NerdiFool said. I have been with Scottrade for over 2 years and they have been great. They are a no nonsence broker. They provide trades and a bare bones real time quote but not much else. Their customer service here in MN is great. I have thought about trying some other broker for more research information and better real time quotes but havn't made a dicision yet.
I am brand new to this business of posting messages, but let's see if this gets thru, or onto the Board. I am also relatively new to investing. I have a Chas. Schwab office near me, so convenience (to make deposits, ask questions of a real person, etc.) was my main motivation for going w/them in the beginning. But the $29.95 trades are steep and unnecessary, I feel, so I'm looking into other (discount) brokers. Ameritrade has been recommended. Any feedback on this one?How can the Motley Fool help me with all this? Thanks in advance for any help/advice.
I have used Ameritrade for a couple of years,I get fast and accurate executions and have had no problems of any kind. They do not have linked checking or anyother bells and whistles but for 8. a trade I have been very satisfiedDon
I have used TDWaterhouse for the past two years. they have a more comprehensive set of services, S&P and Zackreports and excellent, monthly and year end statements.Like all online brokers, quotes and trades slow downwhen trading volume is high but everyone is having difficulty, as brokers expand to handle ever - increasing trading volumes. Find a Good One! - Matthew
Hi--I'm sorry I never responded to your inquiry about Scottrade/Firstrade. I just now saw your message to me. I finally signed up with Scottrade and am very happy with them. (The fact that they have local offices all over the country helped, too. They have an office I can drive to in about 15 minutes). My other online broker is Suretrade; I signed with them because they handle Educational IRA's and Scottrade doesn't. So I have two. I like them both, so far. I decided against Firstrade because I didn't feel as though I was a PERSON with them; just a number. Their ability to understand my needs was difficult to convey to the people I dealt with. I got much more personalized attention and help from the other two.Hope that helps you. Did you ever make a decision?
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