Hello,
First post ever and I am ready for badassity! I know Mr Money Mustache talks about using Sharebuilder to purchase funds, stocks, and ETFs. Is there any other discount broker I should use? Purchasing the the almighty VTSMX costs $19.95 per trade using Sharebuilder. Should I be using Vanguard.com to purchase funds? Which Discount brokers does Mr Money Mustache use?
Thanks for your help in advance!
erase
How much do you trade, and how much in assets do you have? That should be your starting point to find an online broker that will fit your needs.
To trade Vanguard funds or Fidelity funds, it is obvious to just open an account directly with them as they don't charge fees to buy/sell their own funds. For stocks/other listed securities, there are a number of online brokerages which are basically the same.
Vanguard charges $7/trade (up to 25 trades per yr unless you have >$50k in Vanguard funds and qualify for "premier"... otherwise the fee goes up to $20/trade after the first 25).
Fidelity I believe charges $7.95 flat fee.
Scott trade I think is around $7.
Sharebuilder (Capital One?) is a bit lower at $4.
Wells, BoA/Merrill Lynch, other banks, etc.... you have a LOT of options. Some offer discounts depending on how many assets you have, of course, this is only valuable if you trade enough to make it worthwhile to move enough assets there.