Where to open an IRA

steaknshake925 · #1 02-13-2005, 11:50 PM

I've been doing a comparison of different online brokerages and it seems Scottrade is the best (cheapest) place to use. Does anyone have any viewpoints/suggestions on this? What do people think about Scottrade vs Ameritrade, Fidelity, TDWaterhouse etc? Thanks

TGoldman · #2 02-14-2005, 12:48 AM

Scottrade is the best. I use them and I recommend them. For further investment questions, please refer to the Stock Market forum.

Nick-Zack · #3 02-14-2005, 01:20 AM

www.buyandhold.com is the greatest as far as I am concerned. $2.99 trades, the only "downside" is that your transactions are batched so you can't buy at the exact second that you want. Having said that, you don't really need to be timing the market that much with long time money.

BradleyT · #4 02-14-2005, 02:43 AM

I've had my ROTH at Ameritrade for 3 years. It was between them and Scottrade but Scottrade was calling me on the phone, wanting me to meet with a rep, etc. (yes I did request info via mail - not phone calls).

Ameritrade is a bit more expensive but you shouldn't be doing much trading with a ROTH account anyway. They know how much you can contribute each year, allow EFT transfers of any amount up to yearly max, you can set up scheduled payments, can pay this year towards last years account, etc.

I like it.

richrf · #5 02-14-2005, 03:28 AM

I've used Waterhouse and Scottrade. My account is in Scottrade right now because of better customer service. But it all depends upon what kind of trading you want to do. Scottrade is pretty good on the mutuals as is Waterhouse. I don't think you can go wrong with either.

haakee · #6 02-14-2005, 04:16 AM

Use an online discount broker. I see no reason to go with a full service brokerage.

blendedsuit · #7 02-14-2005, 08:37 AM

Vanguard, very low fees

wmmathguy · #8 02-14-2005, 08:37 AM

Buy mutual funds directly from the fund company, I use Vanguard. You can save a bundle in fees.

goodguy_1 · #9 02-14-2005, 08:39 AM

Vanguard...dollar cost average monthly in your choice of a decent index fund The maximum annual contribution is currently $4K a year up from $3K last year for a Roth IRA ..that's $333.33 a month.

playersare · #10 02-14-2005, 02:34 PM

I'm scottrade as well. plenty of branches in my area, just in case.