Freetrade.com??

[wickedgoodtrader]

Anybody use freetrade.com? It says you get 20 free trades per month and then it's only like $3 a trade after that. It's backed by ameritrade so it seems they have some credabilty.

[GeorgeF]

There are hidden costs.
You have to fund the account with a wire transfer that HSBC charged $25 for. They charge $50 to remove switch to a different broker. They pay very little on the cash in your account. They claim the 1099s will be done by mid march delaying the end of my tax pain.

I have had no problem making transactions, or their email tech support.

They only allow you a 4 digit password which bothers me.

The offer nothing more than transactions, no research or fancy products.

[DeezNuts]

I just deposited 10k into freetrade. I get all my other info elsewhere, and 20 free trades/month is too good of a deal to pass up. I'm not day trading by any means and it seems reputable, as I have a Ameritrade(same co.) ROTH IRA account as well. My initial wire cost $30.

DN

[b0000000000m]

Isn't there some law saying 1099's have to be done by the end of January?

[Your Mom]

[ QUOTE ]
There are hidden costs.
You have to fund the account with a wire transfer that HSBC charged $25 for. They charge $50 to remove switch to a different broker. They pay very little on the cash in your account. They claim the 1099s will be done by mid march delaying the end of my tax pain.

I have had no problem making transactions, or their email tech support.

They only allow you a 4 digit password which bothers me.

The offer nothing more than transactions, no research or fancy products.

[/ QUOTE ]

You think $50 for transferring out is expensive? $50 is probably one of the lowest xfer out fees in the industry.

[Your Mom]

[ QUOTE ]
Isn't there some law saying 1099's have to be done by the end of January?

[/ QUOTE ]

They are supposed to be out by 1/31. I'll have to look into this.