Differences between Ameritrade, Scottrade, E-Trade, etc.

[AdamL]

Hi,

Does anyone have a particular recomendation as to what the best brokerage service might be for someone with about $10k and less than 10 trades a month?

(I'm also curious, for future reference, how that changes if you have more than 10 trades a month.)

I was checking out e-trade and said to myself "Wow, they sure have a lot of qualifiying statements!" Makes for a less than clear understanding of their commission structure and services offered.


PS -- I'm Canadian, so I'm ineligible for some brokers. I tried www.freetrade.com for example, and found they only verify US residents.

[DavidC]

You should have told them just to trust you.

(Bumping your post for you.)

[beirutchmp]

I just started using Ameritrade and so far I don't really care for the setup. It doesn't tell you how much you make over time, just the daily price changes.

[parttimepro]

They're pretty much the same. Scottrade has the lowest commissions and no maintenance fees.

[Your Mom]

Scottrade has some qualifications though to get the $7 order. I think Pinksheets and maybe Bulletin Boards are a higher commission, but I could be wrong. All of Ameritrade's trades are 10.99, no matter what stock or how many shares or what order type. Ameritrade has just switched to a new website which has been controversial so far. (I work for Ameritrade)

[parttimepro]

Yeah, I haven't traded pink sheets or non-american exchanges. You could be right.

[deathtoau]

From the Scottrade fee schedule:

Bulletin Board and Pink Sheet stocks $1 and above
Online - $7
Broker Assisted - $27
Bulletin Board and Pink Sheet stocks under $1 Online - $7 + 1/2% of Principal
Broker Assisted - $27 + 1/2% of Principal

[wickedgoodtrader]

I use ameritrade but am in the over 10 trades a month category. I love the benefits you get. You get level II quotes, Live streaming news, and an advanced anylyzer program. They have a thing called the command center which loads and utilizes the level 2 streaming quotes, live news, and a section to put your orders in so you are just constantly working on one screen instead of jumbling a bunch around. Customer service is good.. I've called 20+ times and it's answered within 20 seconds everytime.

[Your Mom]

[ QUOTE ]
I use ameritrade but am in the over 10 trades a month category. I love the benefits you get. You get level II quotes, Live streaming news, and an advanced anylyzer program. They have a thing called the command center which loads and utilizes the level 2 streaming quotes, live news, and a section to put your orders in so you are just constantly working on one screen instead of jumbling a bunch around. Customer service is good.. I've called 20+ times and it's answered within 20 seconds everytime.

[/ QUOTE ]

Maybe we have spoken.