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Learning, Sharing, and Teaching => Investor Alley => Topic started by: Stachsquatch on June 04, 2013, 04:48:16 PM

Title: OptionsHouse, Scottrade, other?
Post by: Stachsquatch on June 04, 2013, 04:48:16 PM
Hey all,

I was wondering if anyone could recommend a good place to buy stock. OptionsHouse seems to have the lowest fee, but I hear many people swear by Scottrade or other websites. Any info about these services would be appreciated, thanks!
Title: Re: OptionsHouse, Scottrade, other?
Post by: apk on June 04, 2013, 06:00:10 PM
Surprisingly, I have found the best deals with the big banks (Bank of America, Wells Fargo). At Bank of America, if you have more than $50,000 in your MerrillEdge account, you get 30 free trades a month. A similar deal is to be had at Wells Fargo.

The trading system is not as advanced as some other places, but you save a lot of money on commissions. This also lets you do different things with your money, such as buying a small amount of stock every month to dollar cost average (not as feasible if you're paying $7 on each transaction).
Title: Re: OptionsHouse, Scottrade, other?
Post by: Khan on June 04, 2013, 07:49:08 PM
Wow Stachsquatch, I may have to look into that.

Also apk, most places charge between 7$ and 10$ a trade, TDAmeritrade has commission free deals on ~100 something ETF's.
Title: Re: OptionsHouse, Scottrade, other?
Post by: gecko10x on June 04, 2013, 07:54:56 PM
Scottrade is quite good, although the website and reporting/monitoring tools could be better. I just switched to Schwab for the commission free ETFs though.