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Learning, Sharing, and Teaching => Investor Alley => Topic started by: better late on October 20, 2020, 09:52:02 PM

Title: $1,000 to open a brokerage account. Which brokerage firm to choose?
Post by: better late on October 20, 2020, 09:52:02 PM
Long story short, my DD has $1,000 with which to open a brokerage account. Which provider would you recommend for someone who likely won’t trade a lot? She already has a Roth IRA with Vanguard invested in mutual funds. I have never had a brokerage account myself.
Title: Re: $1,000 to open a brokerage account. Which brokerage firm to choose?
Post by: MDM on October 20, 2020, 10:57:09 PM
If she is satisfied with her current Vanguard account, she might as well stay there for other accounts.

Fidelity and Schwab are other "usual suspects."
Title: Re: $1,000 to open a brokerage account. Which brokerage firm to choose?
Post by: cool7hand on October 21, 2020, 04:57:55 AM
We like Schwab. You can trade in both Fidelity and Vanguard products, as well as a host of other providers. Sometimes a Schwab ETF will have the lowest expenses. Sometimes a Vanguard ETF. Who doesn't like options?
Title: Re: $1,000 to open a brokerage account. Which brokerage firm to choose?
Post by: ChickenStash on October 22, 2020, 02:43:58 PM
When I was in a similar boat, I chose Vanguard since they were doing fine handling my IRA and I prefer the single pane of glass approach to managing my investments. Other than checking my balance from time to time, I have everything automated so I really have no need to interact with them and their fees are pretty much the same as everyone else. I have friends that use Schwab and they like them. Same deal where once things are setup there's no real need to work with them.

Unless there is some specific feature or service that only one has, just throw a dart. :)
Title: Re: $1,000 to open a brokerage account. Which brokerage firm to choose?
Post by: better late on October 23, 2020, 02:45:00 PM
Thanks you all. I shared your information with DD - she thinks the forum is great and I agree!!