Online Investing?

#1
Boca Vol

Boca Vol

Originally from Exit 81
Lab Rat
Joined
Mar 23, 2011
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#1
Do any of you have online investing accounts with Fidelity or Scott Trade, etc.?

How do they work? Fidelity says you can place stock trades for $7.95. What other fees are there, if any?

Thanks for your help.
 
#2
#2
Boca Vol said:
Do any of you have online investing accounts with Fidelity or Scott Trade, etc.?

How do they work? Fidelity says you can place stock trades for $7.95. What other fees are there, if any?

Thanks for your help.
Click to expand...

Options house is what I use. It's the cheapest per stock trade, 3.95. I've only encountered additional fees when buying stocks below 1 dollar. So there's really no hidden fees.

These days however, I only purchase IVV. It matches the S&P 500 and has lower fees than even the cheapest of index funds.
 
#3
#3
Vol8188 said:
Options house is what I use. It's the cheapest per stock trade, 3.95. I've only encountered additional fees when buying stocks below 1 dollar. So there's really no hidden fees.

These days however, I only purchase IVV. It matches the S&P 500 and has lower fees than even the cheapest of index funds.
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Thanks for the info! I wasn't sure if there were any other fees other that the base fee for stocks.
 
#4
#4
Boca Vol said:
Thanks for the info! I wasn't sure if there were any other fees other that the base fee for stocks.
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Some mutual funds may have fees and there may be additional fees for buying stocks not on the Nasdaq or S&P 500. I own some foreign stocks so there's a small fee taken out of my dividends. Beyond that, no. I have a Roth IRA through them and have been extremely happy with my experience.
 
#5
#5
I've been with Fideltiy for about 10 years now. Never had any extra fees that I can remember.
 
#6
#6
I used Scottrade - $7/trade and I haven't encountered any hidden fees. Their office guys are on commission so they've always been good about unbiased advice.
 
#8
#8
Thanks for the help! It just seemed too easy to pay less than $10 and no commissions to place a stock purchase. This place is great for questions like this.
 
#11
#11
Sharebuilder. $4 if you buy on bulk day which is Tuesday. I buy and hold so that works for me.
 
#14
#14
95 Vol Alum said:
Sharebuilder. $4 if you buy on bulk day which is Tuesday. I buy and hold so that works for me.
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I have a Sharebuilder account I started many many years ago. Interesting concept. Buyandhold.com is another similar site.
 
#18
#18
Freak said:
Good question. Why don't you start a stock discussion thread? I'd be interested in participating some.
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I'd love to see a stock forum to discuss thoughts on the market and specific stocks. Would be a lot of fun and get a lot of posts and page views.

As for services, I'm a former eTrader and now use OptionsHouse. Like their low fees and good mobile tools for the price.

Though now thinking about taking a look at ScottTrade after Bham and Freak recommended.
 
#20
#20
I've been using Scottrade since 2011, it works for me. Have not had any extra fees except for the $7 fee for selling/purchasing.
 
#21
#21
I use etrade and their power etrade pro trading platform for my personal accounts. Im charged $6.95

Vol8188 said:
Still no one can beat optionshouse. 3.95 a trade.
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While it might be the cheapest, you get what you pay for. You might not be getting the best execution or customer service, but for one trade in one position, that will work
 
#22
#22
VolsNSkinsFan said:
I use etrade and their power etrade pro trading platform for my personal accounts. Im charged $6.95



While it might be the cheapest, you get what you pay for. You might not be getting the best execution or customer service, but for one trade in one position, that will work
Click to expand...

What do you mean by best execution?

And as far as customer service, I never trust anyone else on what I should be investing in. So I've rarely interacted with them.
 
#23
#23
Vol8188 said:
What do you mean by best execution?

And as far as customer service, I never trust anyone else on what I should be investing in. So I've rarely interacted with them.
Click to expand...

They route your order to a certain market maker that they have an agreement with. The market maker then takes your order and fills it. Sometimes they will fill their order first (at a better price), then fill yours.

You wont have problem with this on that ETF, but on low volume stocks, they can/will take advantage of your order.

As for customer service, I dont call etrade very much, but when I do, im not on hold for more than 2 minutes and I get a guy who knows what he is talking about. Im not calling them for advice, just operations stuff. Help with a wire, help with an option spread, opening a kids IRA, etc etc
 
#24
#24
VolsNSkinsFan said:
They route your order to a certain market maker that they have an agreement with. The market maker then takes your order and fills it. Sometimes they will fill their order first (at a better price), then fill yours.

You wont have problem with this on that ETF, but on low volume stocks, they can/will take advantage of your order.

As for customer service, I dont call etrade very much, but when I do, im not on hold for more than 2 minutes and I get a guy who knows what he is talking about. Im not calling them for advice, just operations stuff. Help with a wire, help with an option spread, opening a kids IRA, etc etc
Click to expand...

Do they have a chat option? That is one plus for optionshouse and their customer service, the chat is extremely convenient. Especially when is was deployed in Afghanistan and couldn't make a lot of phone calls, and wanted to save the majority of those for the wife.
 
#25
#25
Yea you can chat with them, but you wont get the best person on the other end. (a newbie) It will work for basic operations questions. They have a "message center" where you can send them a service request for basic questions and issues. Thats how I get most of my issues resolved
 
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