i use scottrade and sharebuilder. both are linked to my exiisting checking account so its very easy to make ach deposits.
scottrade $7 trades, i have nothing bad to say about them whatsoever. i think they are great. scottrade credits my account within minutes on an ach deposit, they dont wait for it to clear or anything. its great when you wanna make an instant trade.
sharebuilder (ingdirect) $10 trades. good thing about ingdirect you get free money from them when you start opening their various accounts. im waiting for a free $50 just for linking up my regular checking account to their online one and making 3 debit card purchases and i got like a free $100 or $75 for opening the sharebuilder. also with sharebuilder if you buy divy stocks they roll it over into more shares for you. so if you have a 100shares of a stock and they pay you the divy next time you log in you might have 100.8450 shares of the stock....
scottrade $7 trades, i have nothing bad to say about them whatsoever. i think they are great. scottrade credits my account within minutes on an ach deposit, they dont wait for it to clear or anything. its great when you wanna make an instant trade.
sharebuilder (ingdirect) $10 trades. good thing about ingdirect you get free money from them when you start opening their various accounts. im waiting for a free $50 just for linking up my regular checking account to their online one and making 3 debit card purchases and i got like a free $100 or $75 for opening the sharebuilder. also with sharebuilder if you buy divy stocks they roll it over into more shares for you. so if you have a 100shares of a stock and they pay you the divy next time you log in you might have 100.8450 shares of the stock....
FYI,
According to the BBB.ORG
E*Trade Financial Corporation - Not BBB accredited and graded as C.
Scottrade Inc - Not BBB accredited and graded as A+.
TD Ameritrade - BBB Accredited Business since 06/01/1990 and graded as A+.
Here are links for details.
http://www.bbb.org/new-york-city/bu...de-financial-corporation-in-new-york-ny-88559
http://www.bbb.org/stlouis/business...urities/scottrade-in-saint-louis-mo-120004612
http://www.bbb.org/nebraska/busines...investing/td-ameritrade-in-omaha-ne-105000047
Something tells me you made a great choice.
Just my nikels worth of advice.
According to the BBB.ORG
E*Trade Financial Corporation - Not BBB accredited and graded as C.
Scottrade Inc - Not BBB accredited and graded as A+.
TD Ameritrade - BBB Accredited Business since 06/01/1990 and graded as A+.
Here are links for details.
http://www.bbb.org/new-york-city/bu...de-financial-corporation-in-new-york-ny-88559
http://www.bbb.org/stlouis/business...urities/scottrade-in-saint-louis-mo-120004612
http://www.bbb.org/nebraska/busines...investing/td-ameritrade-in-omaha-ne-105000047
Something tells me you made a great choice.
Just my nikels worth of advice.
no, they dont charge.
https://www.sharebuilder.com/sharebuilder/help/topic.aspx?CategoryCode=CHELP005a
Reinvestment Options for Cash Dividends and Capital Gains Distributions
For each stock, ETF, and mutual fund you own, you can choose whether cash dividends and capital gains distributions are reinvested in the same security (at no charge) or paid out in cash.
Go to Accounts > Portfolio > Dividend Reinvestment (sign in required). Click Edit next to a security to make changes to its reinvestment settings.
If you want your cash dividends and capital gains distributions to be handled the same for all of your stocks and ETFs or for all of your mutual funds, you can change them all at once. Under ‘Stocks & ETFs,’ click Edit all if you want to change the settings for all of your stocks and ETFs. Under ‘Mutual Funds,’ click Edit all if you want to change the settings for all of your mutual funds.
Keep in mind that not all stocks, ETFs, and mutual funds pay dividends. Also, while mutual funds often do have capital gains, it is very rare for a stock or ETF to have capital gains.
You can view cash dividends and capital gains distributions that have posted to your account (and any reinvestments if you’ve chosen this option) by going to Accounts > Transaction History (sign in required). You’ll see the following codes for these postings in your transaction history:
Cash dividend – DIV
Dividend reinvestment – DRV
Short-term capital gains distribution – CGS
Long-term capital gains distribution – CGL
Capital gains reinvestment – DRV
While you can see reinvestments in your transaction history, you will not receive a trade confirmation when cash dividends and capital gains distributions are reinvested.
https://www.sharebuilder.com/sharebuilder/help/topic.aspx?CategoryCode=CHELP005a
Reinvestment Options for Cash Dividends and Capital Gains Distributions
For each stock, ETF, and mutual fund you own, you can choose whether cash dividends and capital gains distributions are reinvested in the same security (at no charge) or paid out in cash.
Go to Accounts > Portfolio > Dividend Reinvestment (sign in required). Click Edit next to a security to make changes to its reinvestment settings.
If you want your cash dividends and capital gains distributions to be handled the same for all of your stocks and ETFs or for all of your mutual funds, you can change them all at once. Under ‘Stocks & ETFs,’ click Edit all if you want to change the settings for all of your stocks and ETFs. Under ‘Mutual Funds,’ click Edit all if you want to change the settings for all of your mutual funds.
Keep in mind that not all stocks, ETFs, and mutual funds pay dividends. Also, while mutual funds often do have capital gains, it is very rare for a stock or ETF to have capital gains.
You can view cash dividends and capital gains distributions that have posted to your account (and any reinvestments if you’ve chosen this option) by going to Accounts > Transaction History (sign in required). You’ll see the following codes for these postings in your transaction history:
Cash dividend – DIV
Dividend reinvestment – DRV
Short-term capital gains distribution – CGS
Long-term capital gains distribution – CGL
Capital gains reinvestment – DRV
While you can see reinvestments in your transaction history, you will not receive a trade confirmation when cash dividends and capital gains distributions are reinvested.
All three are good. I use Scottrade and Etrade. I know someone who has TD Ameritrade. With Scottrade, I like that they have a branch close by and the people there are friendly with me and even call me Mr. Last Name when I walk in...lol. If you are going to buy stocks that are under $1, then Scottrade is not the best bet, since they add on 1/2 percent to each trade. But other than that, they are great. Regular trades are $7.
Etrade is very good and you can buy and sell stocks that are under $1 and it will only cost you $9.99. One caveat is that since Etrade is also a market maker, it seems to take a bit longer when doing the trade. This is only seconds longer, but it seems that when I do at trade at Scottrade it is almost immediately confirmed, while Etrade might take 20 seconds.
So, you pay a little extra with stocks under $1 at Scottrade, but you might end up paying extra through Etrade, but not in a way that you can notice. Both are legit. As usual, use limit orders only when buying stocks. For stocks under $1 you must use limit orders, anyways, so you can't get scammed in that way.
Etrade is also a bank. You can apply for a checking account with them and rapidly transfer money back and forth as many times as you wish, and it is immediate. Say you have 3K in your checking at Etrade. You can buy a stock 10 seconds later....just transfer it over to your Etrade brokerage and fire away.
Both Scottrade and Etrade also have check writing and Visa/MC debit features that you can use through their brokerage account, as well. You can order checks and/or get a card sent in the mail, and when you sell a stock you can use the money immediately with the card or write a check against it. I have the Etrade checking and Visa debit, but I have not ordered the Etrade brokerage Visa Debit or checks (since I have Etrade checking), and I have not ordered the Scottrade checks or debit card, but I know they have it.
I think you would do fine with any of the big three you mentioned.
Etrade is very good and you can buy and sell stocks that are under $1 and it will only cost you $9.99. One caveat is that since Etrade is also a market maker, it seems to take a bit longer when doing the trade. This is only seconds longer, but it seems that when I do at trade at Scottrade it is almost immediately confirmed, while Etrade might take 20 seconds.
So, you pay a little extra with stocks under $1 at Scottrade, but you might end up paying extra through Etrade, but not in a way that you can notice. Both are legit. As usual, use limit orders only when buying stocks. For stocks under $1 you must use limit orders, anyways, so you can't get scammed in that way.
Etrade is also a bank. You can apply for a checking account with them and rapidly transfer money back and forth as many times as you wish, and it is immediate. Say you have 3K in your checking at Etrade. You can buy a stock 10 seconds later....just transfer it over to your Etrade brokerage and fire away.
Both Scottrade and Etrade also have check writing and Visa/MC debit features that you can use through their brokerage account, as well. You can order checks and/or get a card sent in the mail, and when you sell a stock you can use the money immediately with the card or write a check against it. I have the Etrade checking and Visa debit, but I have not ordered the Etrade brokerage Visa Debit or checks (since I have Etrade checking), and I have not ordered the Scottrade checks or debit card, but I know they have it.
I think you would do fine with any of the big three you mentioned.
Scottrade ideal for new investors
I've had Scottrade for almost 2 years now, and I love it. It's ideal for new investors. Very user-friendly, great customer service.
If you decide to go with Scottrade, here's my referral code for 3 free trades to get started.
Code: EEUJ2851
Once you sign up, you'll be given a personal referral code as well so you can earn free trades going forward.
I've had Scottrade for almost 2 years now, and I love it. It's ideal for new investors. Very user-friendly, great customer service.
If you decide to go with Scottrade, here's my referral code for 3 free trades to get started.
Code: EEUJ2851
Once you sign up, you'll be given a personal referral code as well so you can earn free trades going forward.
Me too! I have a scottrade account that I'm extremely happy with and will keep, but I know where my divys are going.
Sharebuilder is nice for drips if you invest at least 500 per month to offset flat fees they charge.
If you do a monthly drip for 50 a month on a stock they charge a $5 flat monthly fee the last a checked. That's 10%! Now if you are doing that same drip for 500 you pay the same $5 you would have paid for the 50.
shArebuilder was designed for the small investor but it benefits the large investor more even if that was not there intention.
No one mentioned Fidelity? Been using them for awhile and have no complaints at all. Their MySmart Cash account is great as a checking account, plus you get free ATM usage as they reimburse all fees. Free online bill pay, wires, and checks as well. Most stocks/options etc... also seem to have very good pricing.
