2/10 My online broker (suretrade) just merged with another broker.
From what I've seen, Datek seems like a nice one to switch
over too (I'm a small time trader and Datek's cheap). Which
online broker have people had good experiences with?
\_ Avoid E-Trade, American Express. I have Schwab out of
laziness/inertia. At least you can go hassle someone in person
when they screw up. --oj
laziness/inertia. At least you can go hassle someone in
person when they screw up. --oj [reformatted]
\_ I have Morgan Stanley (ex-Discover, Lombard) for the
same reason. Had them for years w/o any probs.
\_ I second avoiding E-Trade.
\_ What's bad about E*TRADE? I have both Schwab and E*TRADE but
I don't touch my accounts that often. I think E*TRADE charges
less than Schwab for trading stocks. (I also have PaineWebber,
but last I checked it's not on-line.)
\_ I've used Datek for years and have no complaints
\_ I started with Datek, but then switched over to SmithBarney.
They have a nice option that gives you free trades for the whole
year, in return for like .5% of portfolio value. I think the
listed % is around 1.2%, but if you talk to an individual broker,
they will discount it to around .5%. Oh, and you can do partial
buys into mutual funds, which is nice, if you want to get in on
some of the hotter ones which have minimum buy-in amounts. oh,
also you can talk to your broker about getting in on the more
limited mutual funds which just open for initial investment for
a couple days or so, before the fund fills up.
\_ I have SmithBarney because of Options and ESPP. They are
okay, but I wouldn't use them unless you have 200K+ in
assets. Its a hassle for small investors.
\_ I've been using National Discount Brokers (ndb.com) for
almost 5 years without any problems. ----ranga
\_ Gotta love the duck quack option on their 1-800 number, too.
\_ Yeah. I've been told its quite funny. This has never
affected my service or my opinion of NDB. They are
reasonably priced, friendly and efficient. ----ranga
\_ I stuff all my money under the matress. Never had a problem
*and* I didn't lose my ass in 2000.
\_ where do you live? what room is your mattress in?
\_ It's the house with the guns in it. You're welcome by
anytime, friend.
\_ You too? WOW I though I was the only one. Did you stock
up on ammo and rice also? I did. 7.65mm and .45s along
with 100 kgs of rice. I'm ready to weather the storm.
\_ Money market account would have been fine, you know.
\_ You trust the government to insure your life savings???
\_ That's treasury bonds, not money markets.
\_ If you're investing and not "trading" (i.e. you aren't trying to
hit specific price targets, but rather trying to build up
positions in good stocks), consider a dollar-value investing
company like Buy&Hold (my fave), Sharebuilder, or FolioFn. Trades
are dirt cheap, but infrequent. For example, Sharebuilder charges
$2.00/trade, and does the trades in agregate on Tuesdays. Buy&Hold
charges $2.99/trade and does them twice a day. -brian |