Online Brokerages?

[JonesyOne]

I'm curious what people's opinions are regarding online brokerages.  Specifically are the tools, research capabilities, and information available worth going with a brokerage that offers higher trade commissions?  For example, is TD Ameritrade's 9.99 per trade worth using over say something like Optionshouse which is like 4.75.  I'm assuming the difference in these prices relates to the amount of tools/information they give you - but if the tools/information provided are something you can find online it seems a low trade rate is the best option? 

[J'onn J'onzz]

In regards to the commission at TD Ameritrade, you can get them less than the advertised 9.99. I have my commission rate with them at $5 per stock trade and 1.50/options contract. When I opened my account I used the sign up link at dough.com and got those rates but it looks like it has been changed to 7/stock trade and 1.50/options contract. You may could get on their online help chat and ask for the old rate though. worst they can do is say no.

[JonesyOne]

How would you rate the tools available to you through TD Ameritrade?  Could you get comparable results researching online?

[GGNoob]

What are you going to be buying and selling?

If you are going to be buying Index ETFs or Mutual Funds, you may as well go with Vanguard.com to get the cheapest funds available with no commission.

If individual stocks, which ones? Loyal3.com offers fee free trades of about 50+ stocks. You may check them out to see if you are interested in any they have. You can also purchase them with a credit card to get reward points (for $10, $25, or $50 at a time). Since you buy by dollar amount, you can purchase fractional shares of stocks.

Robinhood.com is a new app that will be coming soon that will allow for fee free trades. That may be something to look into.

Also, FolioInvesting.com offers $4 commission for trades and a subscription plan of $29 per month or $290 per year with unlimited trades in twice daily trading windows.

As far as the tools and information these places offer, I'm sure you can get most of what you need for free online. So I'd go with the cheapest possible.

[J'onn J'onzz]

Honestly, my TD is just for some options trading that I do. My main buy and hold investment accounts are elsewhere. I have been considering starting to use it a little more because you can sign up for some commission free ETFs, VTI being one of them, but so far I have not used it. For what I do with the account I like the platform, I pretty much only use the ThinkorSwim platform, but again that is for options trading. If you are just using it for buy and hold investments you can probably get all the same info elsewhere.

[LordSquidworth]

I use options house. $3.50 a trade. Think it's $4.50 now, but my accounts grandfathered in.

[Mighty-Dollar]

I'm with E Trade. I like that they have a versa key for security when logging in. It adds a 6-digit code to your password and it changed about every 2 minutes. Hack proof!

[hodedofome]

Interactive Brokers really just wants professional/experienced traders but they charge $.005/share (I think $1.50 minimum) and margin rates are pretty much the lowest anywhere, highest you'll pay is 1.6%.

[flashpacker]

I use TD for the free ETFs but also have access to 30 free trades a month through Merrill Edge.  I like the TD interface and customer service.