Best online trading site?

[TheoPetro]

I want to start investing in some index funds and I would much rather do it online than through a traditional broker. I plan on putting in X each month, divided among my best performers.

What do you guys use?
How good is the software?
Is the customer service good?
Rates per trade?
Hidden fees?


Thanks in advance

 

[sohcrates]

just started using vanguard. Cheap / great interface / Performing well!

you can do it all online. Direct deductions from checking.

low low fees. Everything i need

 

[J0hnny]

tdameritrade is hands down the best online brokerage when considering:

- low trading fees
- no maintenance fees
- no minimum fees
- hassle free
- easy to reach customer service
- wide range of trading options
- reliable

And for any money not invested into an equity/fund/option, it sits in an interest bearing money market account.

 

[dr150]

firstrade.com

cheapest. rock solid. compare their mutual fund commissions to the rest....'nuff said.

USAA is also great but you have to be miltary.

 

[JS80]

scottrade

 

[robphelan]

zecco is highly regarded if you don't trade much in a month - you get up to 40 free per month (or 10/day 40 max)

 

[Schfifty Five]

I use fidelity, it's got a nie interface and good customer service, but unless you trade a lot, the fees/trade are typically higher than other places.

 

[vi edit]

It's kind of hard. If you want to do Mutual Funds, I prefer just sticking with the fund provider and setting up everything with them (Vanguard for example). Going through a broker for Mutual funds kind of sucks since you are paying a commission for something that you could buy directly from the fund company for free. The other bad part is that many times the information on the funds at the broker sites is lacking the detail that you can find at the fund provider site. Again, it's just easier to buy direct IMHO.

As for brokers I like Ameritrade. Full disclosure - I used to work for them so I'm very familiar with their systems/operations. So I'm biased.

 

[Miramonti]

Originally posted by: TheoPetro
I want to start investing in some index funds and I would much rather do it online than through a traditional broker. I plan on putting in X each month, divided among my best performers.

What do you guys use?
How good is the software?
Is the customer service good?
Rates per trade?
Hidden fees?


Thanks in advance

Dividing your allotment among your best performers is a conundrum. Past performance does not guarantee future results, altho you do want successful investment funds.

But if you're going to determine value of your holdings simply based on how much its already gone up, you're going to be deceived. In fact it could be the ones that haven't gone up yet, which you've already determined to be a good investment, that's worth investing more in. So don't be afraid to add more to all of them, since its the undervalued ones that may provide the best return in the future, as opposed to the ones that have performed the best, since they may actually become overvalued in the short run as well.

 

[DaveSimmons]

I don't want to spend large chunks of time on research trying to beat the market, especially since most full-time professsional stock pickers fail to beat it conssitently.

So I invest rather than trade, by buying and holding stock index mutual funds. Buy, hold, let them grow over time. Almost zero effort including at tax time.

Vanguard.com is a good place to do that.

A Roth IRA is the first thing to do. Tax-free growth and you can always take out the original contribution amounts (but not growth) tax-free if you need it.

If you had earned income (i.e. a job or schedule C self-employed business) in 2006 you can still make a $4K Roth IRA contribution for tax year 2006.