Good website to buy sell stocks?

[jessieqwert]

I used TD as well since ThinkorSwim got bought out

I want to switch to Interactive Brokers but I think they are 10k to start.

 

[Crusty]

I used TD as well since ThinkorSwim got bought out

I want to switch to Interactive Brokers but I think they are 10k to start.

IB rocks, I didn't know they offered retail accounts too.

 

[Miramonti]

I've been on IB since '05, but iirc they have inactivity fees that can be discouraging for accounts that aren't very active.

 

[lothar]

Interactive Brokers isn't recommended for n00bs.
They won't do any hand-holding for anyone.

 

[Crusty]

Interactive Brokers isn't recommended for n00bs.
They won't do any hand-holding for anyone.

Correct, IB is awesome if you're into automated trading and don't want to hand code your infrastructure. Their API's are easy to work with and their systems are very responsive.

 

[Miramonti]

Correct, IB is awesome if you're into automated trading and don't want to hand code your infrastructure. Their API's are easy to work with and their systems are very responsive.

They are the best option for individuals as well, but noobs would get blown away and confused with all of the features.

 

[Crusty]

They are the best option for individuals as well, but noobs would get blown away and confused with all of the features.

Which is why I was surprised they even offered retail accounts

 

[manly]

Does it allow you to put that in higher risk markets or are you stuck with standard Roth returns?

IRAs do not restrict your choices, there's no such thing as standard Roth returns.

Casino gamblers won't be able to use margin or write options contracts in an IRA account.

 

[zardthebuilder]

IRAs do not restrict your choices, there's no such thing as standard Roth returns.

Casino gamblers won't be able to use margin or write options contracts in an IRA account.

i write options contracts in my ira accounts. most firms permit writing covered call options. some permit writing cash covered put options.

 

[Chapbass]

I'm an IB guy too, absolutely love their speed and low costs.

I started on Scottrade, though, and definitely recommend them to everyone starting. Their products are pretty good, commissions are a little on the high side compared to some of the other online ones, but still not terrible. By far the biggest thing though is their customer service. A small shout out to the office in Barrington, IL, they are AMAZING and ridiculously helpful (even going above and beyond when I was taking my money OUT of scottrade).

 

[gevorg]

I've just recently started trading with Scottrade, and so far so good in terms of service. They even have a community for users to chat with, very useful for newbies especially for Scottrade-related questions.

Commissions are not the lowest but my trades are usually at least $1K each so the fees are well under 1% of the whole transaction. The 2012 is likely to be volatile, so I would start slowly. Some decent deals for dividend stocks with high market cap out there that you can use to wait down any bear period. Definitely less risk than buying some under $1 stock and hoping it to reach the stars someday. Also checkout Seekingalpha for insight and analysis from all sort of finance folks.

 

[lothar]

My problem with Scottrade is they don't do dividend re-investment.

 

[Miramonti]

Which is why I was surprised they even offered retail accounts

Haven't you seen the trader workstation, TWS, for manual entry/monitoring? Now they have IBIS, which I haven't really looked at but is supposedly a more inclusive platform for adding news, earnings, and charting together. Their charting is pretty crippled tho when compared to other charting packages.

 

[Crusty]

Haven't you seen the trader workstation, TWS, for manual entry/monitoring? Now they have IBIS, which I haven't really looked at but is supposedly a more inclusive platform for adding news, earnings, and charting together. Their charting is pretty crippled tho when compared to other charting packages.

Yes? I'm very intimate with their software, I used it in a professional environment for several years. When I say retail accounts I mean non series 7 licensed traders. I was unaware that they provided retail investment accounts for the average Joe and thought they catered only to licensed traders/brokers.

 

[Miramonti]

Yes? I'm very intimate with their software, I used it in a professional environment for several years. When I say retail accounts I mean non series 7 licensed traders. I was unaware that they provided retail investment accounts for the average Joe and thought they catered only to licensed traders/brokers.

I see, makes sense. I think I heard about their retail accounts as early as '03, but hung on to Ameritrade until '05. (having been with datek before they bought it). I complained to Ameritrade's president at a seminar in '04, that they weren't advancing their software quickly enough for active traders to execute more efficiently (they still relied on datek's streamer originated in late '90's.) I told him it was a good broker to start with, but became virtually impossible to stay with Ameritrade if successful. IB was an unbelievable breath of fresh air, particularly due to their API accepting orders from 3rd party software. The move also saved roughly 1/3 in commission costs.

 

[Crusty]

I see, makes sense. I think I heard about their retail accounts as early as '03, but hung on to Ameritrade until '05. (having been with datek before they bought it). I complained to Ameritrade's president at a seminar in '04, that they weren't advancing their software quickly enough for active traders to execute more efficiently (they still relied on datek's streamer originated in late '90's.) I told him it was a good broker to start with, but became virtually impossible to stay with Ameritrade if successful. IB was an unbelievable breath of fresh air, particularly due to their API accepting orders from 3rd party software. The move also saved roughly 1/3 in commission costs.

Yes, their API is pretty sweet. It's easily 10x faster than all of the competition, not to mention much easier to program against. If you want anything faster you're looking at rolling your own FIX based custom trading system.

 

[JTsyo]

I use Well Fargo, if you have their PMA account, you get 100 free trades per year. Since I have my mortgage with them getting qualified for the PMA account was easy. Think it $8/trade after the 100. They charge extra for stocks under $1 though.

PMA Package Benefits
Self Directed Solution

WellsTrade: Get 100 commission-free online trades and no annual account fee** when linked to the PMA Package as of June 30 of each year

Transfer money between banking and investment accounts easily
Access powerful collection of Wells Fargo Advisor resources including the latest market commentary and economic outlooks.
Get 24/7 assistance by phone from our knowledgeable support team.

 

[Hugo Drax]

Just look for the cheapest broker since int seems you are planning to buy crap penny stocks and no matter who you pick all your orders will just get filled by knight anyhow.

If you plan on losing all your principal might as well save some money.

 

[JEDI]

Vanguard. Go with mutual funds instead of stocks.

vanguard.. free eft trades

ameritrade also because commish free efts