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Best trading website?

Discussion in 'Business, Careers & Education' started by Connemara, Aug 4, 2011.

  1. Connemara

    Connemara [URL='http://www.youtube.com/watch?v=6jST2Sv63WQ']

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    Where should I sign up to do some online stock trading? I've heard good things about eTrade but I am open to other suggestions.
     


  2. Alfa159

    Alfa159 Senior member

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    Tdameritrade....
     


  3. GreenFrog

    GreenFrog Senior member

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  4. otc

    otc Senior member

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    I am retracting my suggestion for thinkorswim from the 50 other threads on this topic. They were bought by TD Ameritrade a while ago, but changes aren't starting to appear until now. I'm thinking of leaving.

    They still advertise 3 free mutual fund trades per month on the website...sucks to be the guy who signs up only to find out that those trades are instead $45 come the end of the month.
     
    Last edited: Aug 4, 2011


  5. HgaleK

    HgaleK Senior member

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    What are you looking to trade? What time frame? What features are you looking for?
     


  6. stevent

    stevent Senior member

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    I posted a similar question a while back since I wanted to move into international markets - Interactive Brokers was the top suggestion and now I use it for everything. It's a bit complicated and the minimum is much higher than the standard ones but it's the best in terms of pure trading. Low commissions and access to everything.

    I also have a Schwab account but don't really use it.
     


  7. Satorialist

    Satorialist Senior member

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    As a long time Scottrade user I don't recommend them. The functionality is limited. Scottrade makes a big deal of having lots of office locations with real people to talk to but I've never once used them...worthless to me.

    I just switched to TD Ameritrade specifically for the stand alone trading program "thinkorswim". It's a stand alone desktop trading app which is KILLER. I'll never go back to browser based trading application ever again.

    TD Ameritrade is merging thinkorswim functionality into it's browser based "Trade Architect" tool....it's OK but I just loathe browser based trading, hope this doesn't portend the thinkorswim desktop app days are numbered....

    Would like to find a broker that allows trading on foreign exchanges...

    Trade Station was recently voted the best: http://online.barrons.com/article/SB50001424052970203523604576188781715729822.html
     
    Last edited: Aug 12, 2011


  8. stevent

    stevent Senior member

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    See the post above yours for international markets.
     


  9. threeleggeddog

    threeleggeddog Senior member

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    I second Fidelity. I opened an e-trade account. Besides getting nailed with tons of e-trade marketing, they randomly locked my account one day and told me I needed to fax in my Social Security card (I am still clueless what prompted this). I said "F that" opened a fidelity account, which has been smooth and painless (I even opened a second checking account). Unfortunately, I still had to fax in the SS card just to get my money out of E-Trade - bastards.
     


  10. Satorialist

    Satorialist Senior member

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    Trying out Interactive Broker's demo now; it's clear right up front that TWS is a very powerful trading platform--a little too menu driven in a Windows 95 kind of way for my taste. The information could be presented in a better way. Those are the trade offs I guess.

    Have you traded other markets? The Heng Seng or Tokyo Exchange? Is it possible to do it in USD or must convert to JPY HKD first?
    ...noticed the fees for trading the foreign exchanges are higher.
     
    Last edited: Aug 12, 2011


  11. yjeezle

    yjeezle Senior member

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    how to i get out of scotttrade?

    i really dont' like their system.

    do i lose my gains?
     


  12. GreenFrog

    GreenFrog Senior member

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    Initiate a transfer of assets from the brokerage account you want to migrate to and they will send in a request to scotttrade to send them your assets. There will probably be a processing fee, ranging fromr $50 to $75. This is what I had to do to switch from Ameritrade to Fidelity.
     


  13. dacia1300

    dacia1300 Senior member

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    you initiate an ACAT into your new brokerage acct and thats it. a lot of online brokerage will reimburse you up to 100$ to do this usually, just do some searches see whos offering what at this point in time.
     


  14. otc

    otc Senior member

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    Often if you do it in the right order, you can get the ACAT fees reimbursed. Don't open the new account, put some money in it, wait around, and THEN try to transfer...do it as a part of opening the account. Basically call them up and say "I currently have XXY broker and I want to switch to you, what can you do for me?" I always see ads in magazines that are like: ACAT FEES REFUNDED PLUS $150 BONUS CASH FOR OPENING A NEW ACCOUNT.


    Umm...brokerage accounts have pretty serious tax implications so it doesn't seem weird to me that they would want proof of something like this. Unless you are operating in such a way that you have a Tax ID, your SSN is how the IRS knows you.
     


  15. stevent

    stevent Senior member

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    Yeah the site is not really made for retail investors.

    Haven't actually traded other markets yet but I think the conversion should be automatic, their rates are pretty good. If you call their service line they are normally pretty helpful.

    As for the fees, at 4 euro or so is still way less than the $25-50+ most other brokerages charge and you can trade instantly without any hassle.
     


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