Author Topic: Favorite way to buy stocks  (Read 607 times)

shawn77777

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Favorite way to buy stocks
« on: March 27, 2021, 04:06:11 PM »
I have a Edward Jones acct but Iím wanting a app with low fees where I can just buy a few stocks here and there. 

nereo

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Re: Favorite way to buy stocks
« Reply #1 on: March 27, 2021, 05:51:32 PM »
Good god run away from Edward Jones as fast as you can.

In the past I used sharebuilder and then ING. Now I can purchase shares directly through Vanguard though I gave that up entirely for ETFs and good olí index funds (more diversity, less thought).


markbike528CBX

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Re: Favorite way to buy stocks
« Reply #2 on: March 27, 2021, 09:47:55 PM »
Edward Jones = run the FUCK away.   They will be great friends as long as they have their hands (plural) in your pocket.

I've only heard _one_ good thing about Edward Jones " they were not as bad as most" - from a former financial advisor/competitor.

On this forum at least, and probably on Bogleheads, EJ is a swear word.   
In my town of 45,000 there are 38 EJ "advisors", complete with storefronts. That works out to to one advisor for 1200 residents.
Not everyone signs up for EJ.  The fees on the sukkas who do, are impressive.

I have E-Trade.  I have not employed the brokerage services of Vanguard, even though the vast majority of my net worth is with them.

I you see fees as AUM, Assets Under Management,  just sprint away.  Even if you don't see those fees listed, a non-fiduciary broker could/might churn your account for the commissions.

To answer your questions, I  normally buy stocks by selling put options.  If you don't understand that , don't do it. 
That way I get paid (or lower my cost basis) to buy the stocks.  I only do this in my E-trade accounts (1/20th of net worth) each transaction is less than 0.001% of net worth.

« Last Edit: March 27, 2021, 09:52:38 PM by markbike528CBX »

reeshau

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Re: Favorite way to buy stocks
« Reply #3 on: March 27, 2021, 10:34:30 PM »
The norm today is *no* fees, not low fees.

Ameritrade, Schwab, Fidelity, eTrade, Ally, Vanguard, Robinhood (if you dare).

MustacheAndaHalf

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Re: Favorite way to buy stocks
« Reply #4 on: March 28, 2021, 02:31:00 AM »
Edward Jones' website makes it hard to find their commissions (I wonder why...).  So I'd have to trust another website, which says they charge 2.5%!  With a $50 minimum fee for buying stocks or ETFs!
https://topratedfirms.com/brokers/fees/edwardjones-fees-schedule.aspx

Vanguard charges zero, as in $0/trade.  You can buy $5,000 worth of stocks for $0, where Edward Jones would charge $125 for that trade.
https://investor.vanguard.com/investing/transaction-fees-commissions/stocks

I think Vanguard made that change 2-3 years ago, deciding that stock/ETF commissions were such a small part of their business, they could make it cost nothing.  Other brokerages soon followed (Schwab, Fidelity).