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View Full Version : where to open an account?


chopchoi
04-14-2005, 03:45 PM
I've never invested in stock before, but I want to give it a try. I only have about $2,000 to invest, and I'm not sure where I want to open my account. I think I would like to just buy a few shares and hold on to them at first, and diversify my portfolio gradually, as I continue to save money. The problem is that I can't seem to find a brokerage house that will offer an account with terms I find acceptable. Schwab won't let me open an account with less than $10,000. E-trade charges a $40 quarterly maintenance fee if I don't make at least 2 trades. I want to be able to buy and hold, and don't want to be forced to buy more if I don't feel like it just to avoid a fee. What I would like is an account that charges a reasonable commission, and won't penalize you for not trading. Any suggestions?

icetonez
04-14-2005, 05:30 PM
Thanks to GeorgeF we now know of www.freetrade.com (http://www.freetrade.com)

The4Aces
04-14-2005, 05:48 PM
free trade is no longer allowing new accounts.

icetonez
04-14-2005, 05:52 PM
That sucks, was going to open an account this summer when I had more money to invest.

chopchoi
04-15-2005, 02:01 PM
[ QUOTE ]
That sucks, was going to open an account this summer when I had more money to invest.

[/ QUOTE ]

Ameritrade Izone isn't bad. $5 trades.

The4Aces
04-15-2005, 04:47 PM
to open an account there you need atleast 2 years experience with a discount broker.

Nick-Zack
04-15-2005, 04:54 PM
www.BuyandHold.com (http://www.BuyandHold.com) - you can't time your trades (they lump them during the day), but you can buy partial shares.

Your Mom
04-16-2005, 11:46 AM
ameritrade charges no fees for accts. with at least 2000.

Your Mom
04-16-2005, 11:47 AM
[ QUOTE ]
[ QUOTE ]
That sucks, was going to open an account this summer when I had more money to invest.

[/ QUOTE ]

Ameritrade Izone isn't bad. $5 trades.

[/ QUOTE ]

Believe you need 5000 for Izone. also, it has to be a margin acct.

royaltrux
04-18-2005, 07:41 AM
I might have misunderstood your post, so pardon the following if I did.

Ameritrade is a 2k minimum start up. You get 30 free transactions in the first 30 days then it is $10.99 a trade.

MasterShakes
04-18-2005, 12:42 PM
According to www.scottrade.com (http://www.scottrade.com), they have $7 trades online. I've never used them or anybody else... just poked my head in here and actually knew an answer for once.

FTRelipsesjeff
04-20-2005, 11:08 AM
I use scottrade. It doesnt work that bad, you are able to do EFTs for free and if you get referred you get three free trades to start. No inactivity fees and a minimum balance of $500 is a pretty good deal. I've had little if any problems and they have a decent online trading program.

fluff
04-21-2005, 12:22 PM
For buy and hold (long term), I suggest www.sharebuilder.com (http://www.sharebuilder.com)

Their basic plan is $4 per trade. However, these are NOT real time trades, in fact they are lumped all together for purchase every Tuesday. Which if you're just buying and holding, really doesn't matter. Also you can buy fractions of stock, which is nice if you want to buy rounded $ amounts of it.

Also, they reinvest devidends for free.

Your Mom
04-24-2005, 08:20 PM
[ QUOTE ]
I might have misunderstood your post, so pardon the following if I did.

Ameritrade is a 2k minimum start up. You get 30 free transactions in the first 30 days then it is $10.99 a trade.

[/ QUOTE ]

You don't need 2k to open the acct. you can open with zero. You get 30 trades good for 30 days for free if you make a deposit of 1000 or more. You will get charged maintenace fees of $15 per quarter after the acct. has been open 6 months if you don't make at least 4 trades in the past 6 months or have a total acct. value of 2000 or more.

Disclaimer: I work at AMTD.