I have been paying $9.99 on broker fees although have good money in the account.. its been long since i researched any other brokers, could you suggest me other options, also any promotional offers at this point in the market.
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posted: Nov. 30, 2012 @ 7:41a
I should probably provide a link to "here, let me Google that for you"...
But instead I'll just encourage you to check out Interactive Brokers. I've got a few trading accounts and they seem to be the cheapest for retail. But they make you pay for live market data, so maybe keep an account open somewhere few a few bucks that gives you free marketdata (like thinkorswim).
posted: Nov. 30, 2012 @ 8:40a
I'm using tradeking @ $4.95/trade.
Senior Member - 3K
posted: Nov. 30, 2012 @ 8:49a
call ETrade and ask them to match the best deal you can find out there or you will transfer your acct. i did that many years ago and they gave me $4.95 trades for life for all 5 accts i have with them including my small $2,400 roth ira acct. at the time merrilledge was offering $4.95 trades with 30 free trades/mo and i had an acct there already and told ETrade i was going to transfer everything there but they offered me $4.95 trades for life, but they couldn't match the 30 free trades/mo.
edit: i'm not advocating lying, but if you told them you were planning to consolidate all your accts and want to roll your acct over to another broker that you have that is charging $4.95 trades they would probably believe you......
i still receive periodic phone calls from E-Trade and merrill because they know i have accts at competitors. they've each offered me $1,000 transfer bonuses on my 6-digit accts.
Honestly, if the difference between $9.99 and $4.95 per trade is having a detectable impact on your total return, then you're trading way too much on way too small a portfolio.
Senior Member - 1K
posted: Nov. 30, 2012 @ 7:13p
The *best* broker for the OP is going to depend on what services he needs and how often he trades and in what sizes.
+1 to Interactive Brokers, but they're not for everyone due to account minimums, data fees and general lack of handholding. In general you're going to break even on trades vs. the $10/ticket type brokers at around 2 trades/month. Less if you include savings from quality of executions and financing rates.
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