On-line trading platform

[Dividend Watcher]

(01-06-2014, 10:54 AM)fiveoh Wrote: Another reason I prefer sharebuilder is they let you pick and choose which stocks you want div reinvestment in. TDameritrade its all or nothing.

fiveoh, is that true with an account you have at TDA? I know in my past you have always been able to turn dividend reinvestment on and off for any individual security. I believe the default is no reinvestment -- as happened with my mother-in-law's account. You can also set it so that any security you buy is automatically reinvested or you can call up and specify which securities you want to reinvest. I think you can do it with their internal messaging system also. I've been "reinvest all" since I starting dividend growth investing so I don't forget.

Also, you have to make that election before the ex-div date or else wait until the next quarter.

ronn38,

I think most of the big name online brokers are pretty much the same. Fidelity is a little cheaper ($7.95 vs. $9.95 at TDA). I think Vanguard is a little lower also. Scottrade, I think, has that program you can co-mingle your divs and reinvest in one or more securities which appeals to some. Not sure how that works.

If I had small, incremental purchases I wanted to make, I'd look at the Sharebuilder plans.

I have had TDA for over 20 years from back when it was Waterhouse Securities and agree with alex above. TDA has always been good to me. I can always reach a rep any time day or night. I've been known to call at 3:00 am and the middle of a Sunday afternoon and never had a problem with the rep. I'm going to see if I can finagle those cheaper commissions alex talked about.

The one thing I think is expensive is TDA's option commissions -- $10.74 to purchase/sell the option and $20.74 to settle the transaction if filled. Don't know what others are but it cuts into your profit for only one or two contract trades.

I guess the differentiators for me would be how many free trades I get for transferring (and how long is that good for), charges for ACH deposits or withdrawals, can you transfer shares and/or cash from a regular to Roth IRA (and back, if needed) and are there any fees -- same from IRA to a taxable account.

Confused yet? Good luck.