02-02-2018, 01:13 PM
My current brokerage, Capital One Investing (formerly Sharebuilder), was recently bought out by E*Trade meaning my account will be moving to E*Trade later this year. I've never used E*Trade and don't have anything against them, but I figured if I'm being forced to change brokerage companies I might as well consider all of my options.
So which brokerage do you use? What do you like about them? What do you not like about them? etc
My current requirements are:
1) Free, fractional share DRIP
2) Reasonable fees
I have a Fidelity account that currently only holds some legacy mutual funds (prior to my DGI investing). I'm hesitant to move money into this account as I would probably be hitting SIPC limits within a ~5 years.
I've looked into Merrill Edge which, if you qualify for the Preferred Rewards program, seems like a great deal. It provides more free trades than I could ever use; and with a BofA credit card I'd get bonus cash back (1.75% instead of 1%) if I redeemed that cash back into my brokerage account.
I've looked into Interactive Brokers. They certainly have low fees, but my understanding is they don't have fractional share and free DRIP, which rules them out.
So which brokerage do you use? What do you like about them? What do you not like about them? etc
My current requirements are:
1) Free, fractional share DRIP
2) Reasonable fees
I have a Fidelity account that currently only holds some legacy mutual funds (prior to my DGI investing). I'm hesitant to move money into this account as I would probably be hitting SIPC limits within a ~5 years.
I've looked into Merrill Edge which, if you qualify for the Preferred Rewards program, seems like a great deal. It provides more free trades than I could ever use; and with a BofA credit card I'd get bonus cash back (1.75% instead of 1%) if I redeemed that cash back into my brokerage account.
I've looked into Interactive Brokers. They certainly have low fees, but my understanding is they don't have fractional share and free DRIP, which rules them out.