Favorite Brokerage?

[Kerim]

I've been asked for brokerage recommendations, but I only use and know Vanguard, so I thought I would get ideas from you all.

I gather that the account will start out in the $50k to $100k range, all in a taxable account. His priorities are cheap stock trades and excellent and easy to use website/user interface. Good access to mutual funds would be a plus also.

So who do you all use and recommend?

Thanks!

[benjamen]

I use Scottrade. Seven dollars for stock and ETF trades. Mutual funds can be commission free or seventeen dollars depending on which one. They have good computer and mobile interfaces.

http://www.brokerage-review.com/stock-br...eview.aspx

[Jimbo]

I use TD and Merrill Edge, TD is good, $9.99 trade.
Merrill Edge has free trades per month if you have a certain balance.
I like ME other than the BP DRIP fiasco I have.

Jim

[kayboy]

(06-04-2015, 11:33 AM)Kerim Wrote: I've been asked for brokerage recommendations, but I only use and know Vanguard, so I thought I would get ideas from you all.

I gather that the account will start out in the $50k to $100k range, all in a taxable account. His priorities are cheap stock trades and excellent and easy to use website/user interface. Good access to mutual funds would be a plus also.

So who do you all use and recommend?

Thanks!

I used Scottrade initially, but changed to Vanguard because Scottrade's DRIP program...well it kinda sucked. Trades were $7, same as Vanguard. Vanguard has an Individual I.R.A. Brokerage account, which houses 3 mutual funds that I've owned for some time. (VTSAX, VHCOX and VTSAX) and my MMM. Vanguard also has fantastic service with phone availability Mon.-Sat. And you can't beat the mutual fund line-up.
On the flip side, Scottrade has brick and mortar stores in some cities. Very convenient if you want to speak to a real person face to face.
I can't see myself changing from Vanguard...ever.

[navyasw02]

Love Fidelity, switched over after using USAA. Trade price is $7.95 I think so it's not the cheapest, but they regularly have free trade offers. A lot of good free ETFs as well, which I dont use heavily, but I do stash money in an high dividend fund until I have enough for a full position in my Roth. Also they have a 2% cash back Amex which is nice. 24 hour service is always prompt and courteous. DRIPs are free and easy to set up. My only gripe is the interface for editing and setting up watch lists, but that's pretty minor.

[earthtodan]

You'll get 30 free trades per month with MerrillEdge, or maybe even 100 per month depending on the balance. You also get access to BofA research reports, Morningstar, and S&P Capital IQ. Morningstar has good qualitative write-ups on most of the stocks they cover, and BofA has summary reports on entire sectors. I'm very happy with Merrill.

[crimsonghost747]

I'm with IB. Probably the cheapest there is, most of my commissions are around the $0.5 area. There is a $10 monthly fee but iirc that gets waived when you go over $100k. Also a pretty good selection of markets from around the world.

Though I would say that their desktop software is anything except easy to use at first. It's not bad once you get used to it but it does seem very confusing at first.

[daat99]

(06-05-2015, 05:22 AM)crimsonghost747 Wrote: I'm with IB. Probably the cheapest there is, most of my commissions are around the $0.5 area. There is a $10 monthly fee but iirc that gets waived when you go over $100k. Also a pretty good selection of markets from around the world.

Though I would say that their desktop software is anything except easy to use at first. It's not bad once you get used to it but it does seem very confusing at first.

Their software is very advanced and I love it
I pay the $10 monthly due to small account size but I wouldn't want to use any other software once I got to know it inside and out.
I have tried the software from multiple other brokerage firms in the past and while they were all easier to start with non of them were even remotely close to the capabilities of TWS once you learn all the tweaks.

[rayray]

Originally, I used Fidelity (401k plan and brokerage account) and Vanguard (ROTH IRA account). I used these accounts for years.

Within the last year or so I set up a brokerage account with Vanguard. I had my ROTH IRA and a brokerage account with Vanguard and my 401k plan and a brokerage account with Fidelity. As time went on I used Vanguard more and more, not only for investing but also for stock research, while my Fidelity brokerage account became idle. I've always been a fan of Vanguard and using them over the years only makes me like them that much more as an investor. It got to a point that I closed my Fidelity brokerage account and transferred the funds to my Vanguard brokerage account and I've been extremely happy with that decision. The brokerage fees were close concerning stock purchases: Vanguard $7 per trade and Fidelity $7.95 per trade. Obviously, mutual fund investing would vary.

As it stands now:

Vanguard has my ROTH IRA and brokerage accounts.

Fidelity has my 401K plan account, the brokerage account was closed.



Eventually, all my accounts excluding my credit union will be with Vanguard.

I'm trying to reach the $2 per trade goal with Vanguard! : )


I like to keep an open mind and also read here and there and have also looked into:


TradeKing

https://www.tradeking.com/


IB

https://www.interactivebrokers.com/en/home.php


Robinhood

https://www.robinhood.com/


There was one more I read about but the name escapes me at the moment?


http://www.nerdwallet.com/blog/investing...-accounts/


http://www.stockbrokers.com/reviews/beststockbrokers


http://www.consumersearch.com/online-brokers


http://www.nasdaq.com/investing/online-brokers/

[ronn38]

I use Capitol One Investing (was Sharebuilder), $7 trades--free if you draw you funds from a Capitol one (Chase) account:-)

Ronn

[Kerim]

Thanks everyone, really appreciate the input. I'll pass along the recommendations!

[Rasec]

I've searched for this as I assumed such a thread had to exist but I couldn't find one.

I'm currently using Vanguard but I'm about to exhaust my discounted trades and I'll not be paying $25 per trade. I sent them an email asking to clarify their fees as I believe I should qualify for the permanent discounted trades but in case I don't, I will have to take my business elsewhere.

So which broker do you use and why? What am I looking for?

- Cheapest trade possible
- Secure and reliable
- Good mobile app
- possibility to DRIP
- possibility to buy fractional shares (when DRIPing)

Easy to use, spot trends, etc. I'm not looking for Funds or ETFs, that I can do with Vanguard, just stock trading.

I was using this for comparison but nothing like first hand comments and feedback:
http://www.nasdaq.com/investing/online-brokers/