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RE: Which online broker do you use? - Jimbo - 09-02-2015

I use TD Ameritrade $9.99 per trade and Merrill Edge $6.95 per trade.

I am very happy with both, customer service is great also.

I use both laptop and mobile for each.

One problem I have with Merrill is they have a few stocks that will turn Dividends to cash example BP.

TD just started the ability to do your own online DRIP.

There is a thread on here somewhere, it was discussed not to long ago.

Jim

RE: Which online broker do you use? - Rasec - 09-02-2015

I know this may sound like a dumb question but if I open an account with TDAmeritrade or Scottrade for example, can I transfer my equities from Vanguard to the other brokers? I imagine it's possible, but is it easy to do?

EDIT: stop being lazy and go ask Google... Big Grin

http://www.finra.org/investors/understanding-brokerage-account-transfer-process

RE: Which online broker do you use? - Kerim - 09-02-2015

Here's the recent thread. (Though repeats certainly don't upset me.) [[Edited to add: Threads now merged!]]

I've started using Fidelity for some brokerage stuff, and it seems pretty good to me. $7.95 trades and a pretty good platform and good customer service. I have not tried their mobile app yet.

RE: Which online broker do you use? - Rasec - 09-02-2015

Thanks Kerim, if it's easy you can join the threads.

For ppl using vanguard, do you know if the $50k rule to get the $7 trade applies to stocks or just vanguard funds and etfs?

And does the 401k count for this rule?

RE: Which online broker do you use? - Dividend Watcher - 09-02-2015

(09-02-2015, 06:44 AM)Rasec Wrote: I know this may sound like a dumb question but if I open an account with TDAmeritrade or Scottrade for example, can I transfer my equities from Vanguard to the other brokers? I imagine it's possible, but is it easy to do?

EDIT: stop being lazy and go ask Google... Big Grin

Even easier -- call the brokerage you're interested in transferring your assets to. I would imagine they'd be quite happy to add another revenue stream.

However, everything is negotiable. It just depends on the amount you're talking about. Call your existing broker and tell them you keep getting emails or see ads from another brokerage and you're wondering if they could match it?

I use TD Ameritrade. I called customer service and told them Fidelity would only charge me $7.95/trade and asked if they could match it. I only do 6-8 trades per year at most so it's not a big revenue generator as far as activity but they still matched it.

I've thought about switching at times but I've been at TDA and its predecessors since the late-80s and have had little problems and prompt customer service. Every time I think of switching, I keep thinking about what should I be asking of the potential new brokerage. Here's my list so far:
  • Holds on deposited money. Can you trade the same day the money shows up in your account? Can you transfer money electronically? How long is the process?
  • DRIPs. Can you turn them on/off by yourself? How many decimal places do they carry it to. Any other special requirements? Do they do the trade the day the dividend is received?
  • Foreign tax withholding? For US investors, do they withhold foreign taxes in Traditional/Roth IRAs in which we have a tax treaty? Ask specifically about the countries you want to hold securities from. What about scrip shares like RDS mentioned here.
  • What research products do they have available?
  • How easy are they to contact? Try calling at 7am, 3pm, 11pm and 3am and see if you get a helpful rep? Perhaps ask these same questions. I've called TDA sometime between midnight and dawn sometimes and still get a helpful rep.
  • If you use options, what are there requirements to get options trading approved?
  • If an IRA, can you do in-kind distributions when RMD time comes around? What account services are available in a regular taxable account to access your money? Checking account? Debit card? Online transfers to your local bank?

Anything I forgot?

RE: Favorite Brokerage? - rayray - 04-15-2016

@Rasec

Concerning Vanguard, the 50k balance in order to get the permanent $7 trades needs to be in Vanguard products, not overall balance held at the brokerage, individual stock holdings do not count. However, it can be an accumulation of different funds/accounts that are under the Vanguard umbrella, i.e., 401k, Roth IRA, Traditional IRA, brokerage account, including any investments that a spouse could have with Vanguard. If those investments excluding individual stock holdings add up to 50k then you get $7 dollar trades, 500k and those trades drop to $2 trades, any balance over 1 million well...you get the picture.


https://investor.vanguard.com/what-we-offer/personal-services/view-benefits-at-a-glance


@anyone out there

I have been looking over my Vanguard account (tax time) and I knew they have the ability of online bill pay, free checking, a visa, ect ect ect but never really thought about using these services. The reason is that I'm extremely happy using two different credit unions, my wife uses Wells Fargo. However, it would be nice to downsize a bit and simplify everything under one or two banking outlets. The only thing is that Vanguard doesn't offer full banking services, no car loans or mortgages, no such services that I'm aware of at the moment.

Does anyone use their brokerage for everything? That would be nice. IMHO.

I also did a re-evaluation on my Vanguard, in other words, I compared it to other brokerages to see if there is a better place to save dollars. I guess call me a creature of habit, the fact I've grown with Vanguard for 20 years and they continue on improving I'll stay for the time being. I'm extremely happy with them but I'll keep one eye open, periodically.

These were the brokers I was checking out, I still like the clean feel of Vanguard, everything works, no hiccups.

http://www.dogsofthedow.com/tdbrokers.htm

RE: Favorite Brokerage? - OsztalekPortfolio_HUN - 04-15-2016

Anyone from Europe here?

I am using Interactive Brokers at the moment but want to open another account so that not all my money is with IB.
The problem is that as a Hungarian I am not allowed to open an account at most of the reputable brokers I know.

Any ideas I should check out?
Thanks in advance.

RE: Favorite Brokerage? - lucas03 - 04-15-2016

Hi OsztalekPortfolio_HUN, in Europe you may try Degiro.hu.
They have really low fees for US stocks, however stock prices are not real-time, they don't support DRIP and fractional shares at the moment.
From what I have heard, it is good broker for long term investors, not that good for traders.

RE: Favorite Brokerage? - OsztalekPortfolio_HUN - 04-15-2016

(04-15-2016, 10:23 AM)lucas03 Wrote: Hi OsztalekPortfolio_HUN, in Europe you may try Degiro.hu.
They have really low fees for US stocks, however stock prices are not real-time, they don't support DRIP and fractional shares at the moment.
From what I have heard, it is good broker for long term investors, not that good for traders.

Thanks, will check it out.
The thing I like about IB  is that my account is protected up to 500K$. I hope I can find another broker that is as reliable as IB.

RE: Favorite Brokerage? - crimsonghost747 - 04-15-2016

(04-15-2016, 09:56 AM)OsztalekPortfolio_HUN Wrote: Anyone from Europe here?

I am using Interactive Brokers at the moment but want to open another account so that not all my money is with IB.
The problem is that as a Hungarian I am not allowed to open an account at most of the reputable brokers I know.

Any ideas I should check out?
Thanks in advance.


I use IB myself, so I don't have any personal experience from any other good brokers.
However a lot of people I've talked to recommend Lynx. Decent prices, good reputation and good service.

RE: Favorite Brokerage? - OsztalekPortfolio_HUN - 04-15-2016

(04-15-2016, 11:04 AM)crimsonghost747 Wrote:
(04-15-2016, 09:56 AM)OsztalekPortfolio_HUN Wrote: Anyone from Europe here?

I am using Interactive Brokers at the moment but want to open another account so that not all my money is with IB.
The problem is that as a Hungarian I am not allowed to open an account at most of the reputable brokers I know.

Any ideas I should check out?
Thanks in advance.


I use IB myself, so I don't have any personal experience from any other good brokers.
However a lot of people I've talked to recommend Lynx. Decent prices, good reputation and good service.

I am 100% satisfied with IB, the only thing is that I don't want to wake up one day to see that IB is gone and I have to start from zero...

So I need a reliable 2nd choice broker. Transaction costs don't matter much as I am not an active trader but a long-term investor. But account maintenance fees should be reasonable.

RE: Favorite Brokerage? - DividendGarden - 04-16-2016

I use Computershare for DRIP accounts, but also have accounts with OptionsXpress (bought by Charles Schwab) and Loyal3 (I just keep buying BRK.b here). I'm happy with all of them so far.