Favorite Brokerage?

[crimsonghost747]

(10-31-2017, 02:51 PM)Rasec Wrote: All non US residents, are you still happy with IB?

Yes.

[Forticus]

IB?

Yes, still satisfied.
Just be carefull with all there add-on subscriptions for data. I paid for real time data that I didnt need nor didnt know of for over 3 years.

[MikeWa]

Schwab cuts commissions to zero

https://finance.yahoo.com/m/d1808c5d-f95...o-fee.html

[fenders53]

(10-01-2019, 09:43 AM)MikeWa Wrote: Schwab cuts commissions to zero

https://finance.yahoo.com/m/d1808c5d-f95...o-fee.html

We've read for a few years this was coming.  I love the TD Ameritrade website functionality and research capability but they'll need to lower commissions VERY soon to retain me.  Otherwise I will just leave a few bucks there to keep the website capabilities.  They can expect about a million calls a week from customers threatening to leave them.  Schwab is a quality broker so the competition will not be able to ignore this.

[Otter]

I will probably open a Schwab account now. I think this also undercuts the long-term viability of Robinhood. Maybe they have ensnared enough Millenials/Gen Z to survive off the margin income for Robinhood Gold, but surely most of their clientele will be bankrupt sooner rather than later.

[fenders53]

(10-01-2019, 10:26 AM)Otter Wrote: I will probably open a Schwab account now. I think this also undercuts the long-term viability of Robinhood. Maybe they have ensnared enough Millenials/Gen Z to survive off the margin income for Robinhood Gold, but surely most of their clientele will be bankrupt sooner rather than later.

What is Robinhood Gold exactly?  Send in your car girlfriends car title and you can trade leveraged bitcoin options? 

[MikeWa]

(10-01-2019, 10:26 AM)Otter Wrote: I will probably open a Schwab account now.

If you open their brokerage/checking combo "High Yield Investor Checking Account" you will also get a free and unlimited access to ATM worldwide with no foreign transaction fee.

I opened their account just for that, ATM access, but now I may be moving one of my brokerage accounts to Schwab as well.

[crimsonghost747]

(10-01-2019, 09:43 AM)MikeWa Wrote: Schwab cuts commissions to zero

https://finance.yahoo.com/m/d1808c5d-f95...o-fee.html

Thank you for the link! I didn't even know IB was switching to zero commission.
Not that it really matters as now my commission is around $1. But of course zero is even better.

[Otter]

(10-01-2019, 10:48 AM)fenders53 Wrote:

(10-01-2019, 10:26 AM)Otter Wrote: I will probably open a Schwab account now. I think this also undercuts the long-term viability of Robinhood. Maybe they have ensnared enough Millenials/Gen Z to survive off the margin income for Robinhood Gold, but surely most of their clientele will be bankrupt sooner rather than later.

What is Robinhood Gold exactly?  Send in your car girlfriends car title and you can trade leveraged bitcoin options? 

Wall Street Bets subreddit has some positively amazing tales of the stupid stuff Robinhood has allowed young, inexperienced options gamblers to do, resulting in astounding losses. It can make for some pretty entertaining reading. Fools and their money.

[Otter]

(10-01-2019, 10:52 AM)MikeWa Wrote:

(10-01-2019, 10:26 AM)Otter Wrote: I will probably open a Schwab account now.

If you open their brokerage/checking combo "High Yield Investor Checking Account" you will also get a free and unlimited access to ATM worldwide with no foreign transaction fee.

I opened their account just for that, ATM access, but now I may be moving one of my brokerage accounts to Schwab as well.

Great info! This seals the deal for me.