posted
Does anyone out there use Freetrade? I have been using Ameritrade with the old Datek platform, and I am fed up with these people. They won't let you trade pinks and I couldn't trade at all today. If anyone uses freetrade or has another broker that they are satisfied with...Please Post!
Posts: 4303 | From: DSA | Registered: Dec 2003
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I have the datek platform and can relate with you after today. I did find out that you can open another account and transfer and be with the new platform to trade pinks.
quote:Originally posted by buckstalker: Does anyone out there use Freetrade? I have been using Ameritrade with the old Datek platform, and I am fed up with these people. They won't let you trade pinks and I couldn't trade at all today. If anyone uses freetrade or has another broker that they are satisfied with...Please Post!
I talked to them last night and was told that it would take 3 to 5 days. If you find out anything different please let me know, as I can't afford to be down for that long. I was going to get into QBID 3 days ago and couldn't because of these incompetent idiots. BIG LOSS!!
posted
Posted by me on the GNFX thread, but it belongs here more than there ...
quote:Ok, people here with Freetrade, I read on their site that you are supposed to have 2 years experience with a discount online broker to be eligible, and of course $5,000 initial balance. Is the 2 years experience thing true, or are they lenient with that??? I was so looking foward to going over to Freetrades after I make enough cash but I don't have CLOSE to 2 years experience with my broker, or any broker nonetheless.
Posts: 839 | From: Muncie, IN 47304 | Registered: Nov 2003
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[a freind of mine went to free trade not having 2 yrs exp. he said he got rejected the first time. tried the next day and his account was setup. you have to lie about your two years exp. (note) i switched over last mouth from low trades your acct will be down from 5-10 days.
Posts: 7 | From: whitman,ma | Registered: Jan 2004
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If you dont have the cash to get into Freetrade right now you should look into lowtrades.com I have been happy with them although as of two days ago you can not place an order over 500,000 shares which is kind of bad if you are trading some of the pinks. They also do have a misc fee now which is .0001 per share not to exceed 1% of the principle. I think it is still cheaper than scottrade.
wingnut
quote:Originally posted by buckstalker: Does anyone out there use Freetrade? I have been using Ameritrade with the old Datek platform, and I am fed up with these people. They won't let you trade pinks and I couldn't trade at all today. If anyone uses freetrade or has another broker that they are satisfied with...Please Post!
First 20 trades per month are free. Every month!! 21-50 cost $3 51-100 cost $2 101+ cost $1 Can't beat it with a stick and the interface is exactly like Ameritrade.
Posts: 418 | From: Avondale, AZ, USA | Registered: Dec 2003
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Freetrade is the best move I've made. As Bliss points out....the commissions are unbeatable. By the end of my first year, I will have saved thousands of dollars in commisions alone.
You should know that Freetrade is a division of Ameritrade. They use the exact same interface. If you want to get away from Ameritrade...this might not be your answer.
I believe the reason for the "two year online experience requirement" is that they are completely an on-line broker. No phone help. Email help only (I've gotten answers within 15 minutes any time I've had a question). They want people who are completely comfortable with on-line trading. I think Bliss pointed out in the other thread....they do not check your history. If you answer yes to the question, that's all there is to it. Just make sure you are comfortable not being able to talk to a live person for help!
quote:Originally posted by buckstalker: Does anyone out there use Freetrade? I have been using Ameritrade with the old Datek platform, and I am fed up with these people. They won't let you trade pinks and I couldn't trade at all today. If anyone uses freetrade or has another broker that they are satisfied with...Please Post!
Very good advice. I have Ameritrade and just signed up for Freetrade today. I "fudged" when they asked me how long I have been with another broker. Needless to say less than 2 years. I was immediately accepted. Well question for you I hope you can answer or anyone else for that matter. How do I transfer everything over from Ameritrade to Freetrade. I have opened postions, do I need to close them? Will there be a delay of a any days or a day of trading? Thank you for your advice and help! Mac
Posts: 145 | From: Seattle, WA 98125 | Registered: Jan 2004
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Thanks PSU, that answer is exactly what I was looking for!
quote:Originally posted by PSU90: Freetrade is the best move I've made. As Bliss points out....the commissions are unbeatable. By the end of my first year, I will have saved thousands of dollars in commisions alone.
You should know that Freetrade is a division of Ameritrade. They use the exact same interface. If you want to get away from Ameritrade...this might not be your answer.
I believe the reason for the "two year online experience requirement" is that they are completely an on-line broker. No phone help. Email help only (I've gotten answers within 15 minutes any time I've had a question). They want people who are completely comfortable with on-line trading. I think Bliss pointed out in the other thread....they do not check your history. If you answer yes to the question, that's all there is to it. Just make sure you are comfortable not being able to talk to a live person for help!
Posts: 839 | From: Muncie, IN 47304 | Registered: Nov 2003
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Once I was accepted and given an account number there was an option on how to fund the account. I could either wire them the necessary cash, or transfer my existing securities to cover the fund requirement. I chose to transfer the securities. Because I was with Ameritrade...it was an internal transfer. It only took 1.5 days! All my stocks were settled. I had to close my GTC's I had on a few stocks. Everything being transfered must be settled and no open buy/sell orders.
I have heard that external transfers (companies other than Ameritrade) can take 7 to 10 days.
If you have any questions...just email their customer support. They were very helpful in my transfer process. Good luck....you just gave yourself a nice year end bonus!
quote:Originally posted by Mac the Knife: Hey PSU!
Very good advice. I have Ameritrade and just signed up for Freetrade today. I "fudged" when they asked me how long I have been with another broker. Needless to say less than 2 years. I was immediately accepted. Well question for you I hope you can answer or anyone else for that matter. How do I transfer everything over from Ameritrade to Freetrade. I have opened postions, do I need to close them? Will there be a delay of a any days or a day of trading? Thank you for your advice and help! Mac
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I have just opened up an account in free trade and going to transfer from scottrade beginning of next week. However, I have couple of questions for those who are using it already? 1)I am confused about one of their subscription service that is real time quotes for $20 what is that for? Will I not be able to see my portfolio's real time value without this service? 2) Can you set up different portfolios in there so that you could keep an eye on your watchlist?
I am planning to get the level II service for 14.95 and I believe it comes with the streamer and also the command center. Any other input will be appreciated. thanks
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