Allstocks.com's Bulletin Board: anyone here use FREETRADE?

This is topic anyone here use FREETRADE? in forum Micro Penny Stocks, Penny Stocks $0.10 & Under at Allstocks.com's Bulletin Board.

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Posted by stockguy04 on :

what is it like.. is it any good

Posted by PSU90 on :

quote:
Originally posted by stockguy04:
what is it like.. is it any good

Stockguy.....I just switched to Freetrade from Ameritrade. It is actually a division of Ameritrade. It is basically the exact same system only without a phone support link. All support is via email. So far (only a couple trades), I like it very much. I expect to save several thousand dollars in commissions this year!

PSU

Posted by stockguy04 on :

what the switch difficult or was it ezier because its a branch of ameritrade

Posted by PSU90 on :

I believe it was easier....by that I mean faster. Everything was done internally. They estimated 3-5 days. It took 1.5 days. For external transfers, they estimate longer. All open positions had to be closed and all funds from any trading had to be settled.

quote:
Originally posted by stockguy04:
what the switch difficult or was it ezier because its a branch of ameritrade

Posted by Mav on :

PSU, i also use Ameritrade. Thank you for this information. I have 3 questions:

1.-Does Freetrade offer autorouting ?.

2.-If you are an Ameritrade client is there a way to transfer accounts from Ameritrade to Freetrade?. Or do you have to set up a new account and wire the money?.

3.-Does it keep your banking instructions from your Ameritrade account to your new Freetrade account ?. Or do you have to set up banking instructions again ?.

Thanks again for your time.

Mav.

quote:
Originally posted by PSU90:
I believe it was easier....by that I mean faster. Everything was done internally. They estimated 3-5 days. It took 1.5 days. For external transfers, they estimate longer. All open positions had to be closed and all funds from any trading had to be settled.

Posted by PSU90 on :

Mav...I'll answer the best I can from my very limited experience so far (2 days). You may want to direct some questions to them directly using this email. They were very prompt at replying to my various questions:

clientservices@freetrade.com

Now for your questions:
1. I believe they use the same autorouting system as Ameritrade. I could be wrong. I saw this posted by "Omni" on IHUB. http://www.investorshub.com/boards/read_msg.asp?message_id=1665814

2. Yes. I had to fill out the online account application. It was approved instantly and I had my account number (approved, but inactive until funded). At the end of the process they give you options for "funding" the account. One is by wire transfer of cash. The other is by transfer of an existing account. This is where you choose "internal transfer" and give them your Ameritrade account number. You print out the form and then fax a signed copy to them. I chose this option and did not wire any new funds.

3. I believe you will have to redo the ACH setup with your bank account. That one you definitely should ask Freetrade directly.

Basically, once my account was set up...the interface looks exactly like that of Ameritrade only in a different color scheme!

PSU

quote:
Originally posted by Mav:
PSU, i also use Ameritrade. Thank you for this information. I have 3 questions:
1.-Does Freetrade offer autorouting ?.
2.-If you are an Ameritrade client is there a way to transfer accounts from Ameritrade to Freetrade?. Or do you have to set up a new account and wire the money?.
3.-Does it keep your banking instructions from your Ameritrade account to your new Freetrade account ?. Or do you have to set up banking instructions again ?.
Thanks again for your time.
Mav.

[This message has been edited by PSU90 (edited January 02, 2004).]

Posted by Mav on :

Thanks PSU, i will check this out.

quote:
Originally posted by PSU90:
Mav...I'll answer the best I can from my very limited experience so far (2 days). You may want to direct some questions to them directly using this email. They were very prompt at replying to my various questions:
clientservices@freetrade.com

Now for your questions:
1. I believe they use the same autorouting system as Ameritrade. I could be wrong. I saw this posted by "Omni" on IHUB. http://www.investorshub.com/boards/read_msg.asp?message_id=1665814
2. Yes. I had to fill out the online account application. It was approved instantly and I had my account number (approved, but inactive until funded). At the end of the process they give you options for "funding" the account. One is by wire transfer of cash. The other is by transfer of an existing account. This is where you choose "internal transfer" and give them your Ameritrade account number. You print out the form and then fax a signed copy to them. I chose this option and did not wire any new funds.
3. I believe you will have to redo the ACH setup with your bank account. That one you definitely should ask Freetrade directly.
Basically, once my account was set up...the interface looks exactly like that of Ameritrade only in a different color scheme!
PSU

[This message has been edited by PSU90 (edited January 02, 2004).]

Posted by kitkatranchgirl on :

Hello Mav

I have used freetrade for a while now and it is great.
You will have to add your banking routing info again and go through the 3 day ach few cents entry system but other than that is is all the same except you have to pay for your streamer and level 2/ vs./ as an ameritrade apex it is free. I intraday trade also so by the middle of the month i am at 1 buy/sell which saves me alot of money.
Really the $3 after the first 20 free is still way cheaper than even the 21.98 round trip you would pay with ameritrade.

Posted by makinmoney04 on :

are there any better places to buy stocks out there then freetrade....The min of $5,000 is kinda steep

Posted by PSU90 on :

KitKat....if you see this, drop me an email.

psupens661@yahoo.com

I have a question on the Ameritrade Apex system.

quote:
Originally posted by kitkatranchgirl:
Hello Mav
I have used freetrade for a while now and it is great.
You will have to add your banking routing info again and go through the 3 day ach few cents entry system but other than that is is all the same except you have to pay for your streamer and level 2/ vs./ as an ameritrade apex it is free. I intraday trade also so by the middle of the month i am at 1 buy/sell which saves me alot of money.
Really the $3 after the first 20 free is still way cheaper than even the 21.98 round trip you would pay with ameritrade.

Posted by makinmoney04 on :

I'm a newcommer looking for a place to buy stocks.
how long does the transaction take on free trade. is it instant or does it take time?

Posted by stockguyDD on :

kitkat i have a couple questions about freetrade ... if you see this message plz email me at o4foshodd@hotmail.com

Posted by JOE COOL on :

Hey makinmoney04:
It will take you a few minutes to open a account.
They will let you know by email if your account was approved or not, you will also received an account number. You will need to set up your Freetrade account, set up with a bank account to transfer (wire) a mimimum deposit of $5,000 to start trading. There web site is very user friendly.
Simple to understand. They are really good and very fast at answering any questions by email.
At the time...to me...I beleive they are the cheapest or sude I say economical retail stock broker there is. 20 free trades per month, afther that is only a fraction of what other brokers are charging.
At the time I have three broker firms.
Schwab, BrokerageAmerica and Freetrade.
All have good things...but NO ONE can beat free trade commitions.

Good luck,

Posted by stockguyDD on :

still waiting on some more freetrade info

Posted by stockguy04 on :

stilllllllllll waiting

Posted by stockguy04 on :

does annnnnnnnyone have freetrade?