Best Brokerage Hot Deals!

[amgine]

So from what everyone is saying, is Ameritrade the best for online for inactive people cause it has no maintenance fees? I trade like 2 or 3 times a year so I think most would consider me inactive.

Just call me that guy that no broker really wants to deal with...

 

[MitzEclipse]

<<

<< Make sure you guys read the fine print, alot of brokers charge quarterly inactivity fees if you are not make trades (Datek and TDWaterhouse are two that I know of). >>



Fidelity also charges a quarterly maintenance fee unless you have $30k or more in all your accouts or make two trades per quarter. CS is excellent, but if you decided to close your accounts (IRA's only I think) and move elsewhere, they charge you a $50 account close fee. I think this fee is pretty standard with most brokerages... >>



Yea, Schwab has a $50 close fee on IRAs- that's really lame.

 

[dshodson]

scottrade does not have a maintanence fee but then it is relatively bare bones

D

 

[iluvdeal]

BTW, I switched account from TDWaterhouse to Datek because of the lower fees for trades and waiver of inactivity fee if you have over a certain amount. One quibble I have is the interest rate on my uninvested cash, it only earns 0.05% at Datek. I got 2.50% at TDWaterhouse.

 

[Ahoy]

I am surprised that no one mentioned IB (Interactivebrokers.com). It is a small firm I guess but quite reliable and CHEAP to trade.

$1 for 100 shares and their good interfaces. They also have options services. Customer service is a bit lousy but it is quite worth the hassle.

Been using it for teh past year or so and am quite happy about it.

 

[MitzEclipse]

anyone else?

 

[BooneRebel]

The low-cost trades seem to be going the way of free internet service. I signed up with DLJdirect a few years ago because they had no min balance, no inactivity fee, and only charged $20 per trade. They were absorbed by CSFB a year or two ago and just recently changed their policy to either a $10,000 min bal, x number of trades per quarter, or a $25 service fee.

 

[Colie]

 

[docinthebox]

This page has a number of deals for opening new brokerage accounts:

brokerage deals

Overall, I think the deals from TDWaterhouse and Morgan Stanley Dean Witter are the best.

When you evaluate the deals, be sure you check out their fees. Some of the brokerages charge an "account termination fee" that can be as much as $50.

Good luck!