This is topic What Stock Brokerage is the Most Economical with Unlimited Share Buying? in forum Micro Penny Stocks, Penny Stocks $0.10 & Under at Allstocks.com's Bulletin Board.


To visit this topic, use this URL:
http://www.allstocks.com/stockmessageboard/ubb/ultimatebb.php/ubb/get_topic/f/8/t/018349.html

Posted by DWE on :
 
I've been using Charles Schwab as my broker for over 15 years now for buying large cap company stocks. I have given all the large caps up for a little more excitement on the market so today, I solely involve myself with microcap and midcap stocks. Charles Schwab is great when you're buying into GE, PG, MO, IBM and so on. However, the mamimum shares you can purchase on a penny stock is 999,999 costing $9.95. I can buy 9,999,990 shares of a company and pay $9.95 each time a trade is executed for those 999,999 shares for a total of $99.50 in commission fees alone.

Anyway, blah blah blah.....

I just wanted some opinions from all of you on who is the most economical stock brokerage house with unlimited share buying and low commission fees?

Thanks for your help.

Dean
 
Posted by BROOKLYN'S FINEST on :
 
I like SCOTTRADE
 
Posted by DWE on :
 
Brooklyn..... Unlimited buying and lower fees than Schwab?
 
Posted by tech1 on :
 
ST - lower fees, but no unlimited.
 
Posted by BROOKLYN'S FINEST on :
 
NOT SURE ABOUT UNLIMITED BUT I BUY 3 MILLION SHARE AT .0001 AND PAY ABOUT $8 TOTAL
 
Posted by DWE on :
 
I've heard great things about Scottrade. Is 3 million the maximum you can buy a stock for at $0.0001? Does the mamimum amount of shares you can buy change if the price of a stock is worth let's say $0.01? And also, would it still be 8 bucks in commission fees for a higher priced stock?
 
Posted by cobracobra on :
 
I have sctttrade and Atrade,,, i never use scott any more because of the % fees involved. No maintainance fees though. I always use Atrade. not bad at 11 bux a trade.
 
Posted by cobracobra on :
 
I have sctttrade and Atrade,,, i never use scott any more because of the % fees involved. No maintainance fees though. I always use Atrade. not bad at 11 bux a trade.
 
Posted by BROOKLYN'S FINEST on :
 
DWE FIRST QUESTION: NO---SECOND QUESTION: NO---LAST QUESTION:If the price is under $1 at the time of execution, commission is $7 + 1/2% of the principal
 
Posted by Thorn on :
 
I've had trouble with Scottrade. Go Ameritrade instead, imo.
 
Posted by DWE on :
 
quote:
Originally posted by Thorn:
I've had trouble with Scottrade. Go Ameritrade instead, imo.

What problems with Scottrade and what are the prices for Ameritrade versus Scottrade?
 
Posted by BROOKLYN'S FINEST on :
 
I NEVER HAD A PROBLEM. I'VE BEEN WITH THEM FOR MORE THAN A MONTH AND ALREADY TURNING UP PROFITS. ALSO EVERYONE KNOWS IM FROM NY AND SCOTTRADE HAS ABOUT 20 WALK IN OFFICE.
 
Posted by DWE on :
 
Does that 1/2% of the principle fee on Scottrade add up to your expectations where you're still saving money on total commission fees versus paying a flat $9.95 per transaction like on Schwab?
 
Posted by WarpedMind on :
 
Until just recently, I've had nothing but good to say about TDW. Even though I recently has a technical problem, other than that, I still love TDW.

Once you trade enough to become a platinum member (which I am), then you get UNLIMITED shares for 9.95 a trade. If you trade regularly, you should get to this level quickly. If you want more details, PM me.

BTW with the platinum level, you get streaming quotes, L2s, etc. free.
 
Posted by BROOKLYN'S FINEST on :
 
DWE I NEVER PAID MORE THAN $8.10 PER TRANSACTION, BUT THE MOST SHARES I BOUGHT AT ONE TIME WAS 4 MILLION
 
Posted by EverGreen on :
 
Choicetrade $5
OC Securities $9
 
Posted by agrimac on :
 
Choice Trade $5 excellent value
 
Posted by dmort on :
 
I like AG Edwards. I dont mind the $49 commssion and I do like the 3 days I have after placing an order to make payment.
 
Posted by Numa on :
 
quote:
Originally posted by DWE:
Does that 1/2% of the principle fee on Scottrade add up to your expectations where you're still saving money on total commission fees versus paying a flat $9.95 per transaction like on Schwab?

The 1/2% is not that bad (especially compared to Schwab) but it does cut into profits on swing plays.

It really depends on how much money you're buying with. If you made a $5000 purchase, the total commission would be $32.

If you were to purchase $1000, it would only be $12.00
 
Posted by Jelly on :
 
I use Etrade. Not a huge fan of them yesterday though. My trade fees are 7 bucks and yes, I can buy unlimmited I believe. Never have bought more than 2 mil shares of a stock, personally.

As for Schwab, I trade for my mother in law in her account. I find it impossible. Do you noticed their site being extremely slow? It's so painful that I'm about to tell her I refuse to use that broker for her.
 
Posted by Jelly on :
 
quote:
Originally posted by Jelly:
I use Etrade. Not a huge fan of them yesterday though. My trade fees are 7 bucks and yes, I can buy unlimmited I believe. Never have bought more than 2 mil shares of a stock, personally. (edited to add that you also get free L2's and such, but I don't use them, and you don't get them until you have 150 trades per quarter I think)

As for Schwab, I trade for my mother in law in her account. I find it impossible. Do you noticed their site being extremely slow? It's so painful that I'm about to tell her I refuse to use that broker for her.


 
Posted by Jelly on :
 
OMG, I'm tired today. I meant to edited and not quote myself. Long weekend is good for me lol. Sorry!
 
Posted by crockett on :
 
quote:
Originally posted by agrimac:
Choice Trade $5 excellent value

I agree on choicetrade.com .. top it off, they have great support and you can always get them on the phone.
 
Posted by DWE on :
 
5 bucks sounds great! Any hidden costs with Choice Trade?
 
Posted by DWE on :
 
Actually, I should also ask if there's a maximum limit of shares you can buy in one transaction. Because if I wanted 20 million shares of something, I should only do it once with one transaction. Can Choice Trade do that? And are there any hidden cost to pay on top of that 5 bucks?
 
Posted by DWE on :
 
After looking at the ChoiceTrade website, this is probably the one I'm going to apply for. If there's anyone who knows of any other brokerage house that is cheaper than 5 bucks per transaction, let me know. And don't say ShareBuilder because ShareBuilder are for kids just like Trix cereal.
 
Posted by motorhed on :
 
I just switched from Ameritrade to Choicetrade and am glad I did so for. My ordered are filled quicker and their custoomer service is great.
I have noticed they charge additional fees sometimes on certain trades(usually $3.77 on top of the $5.00).

Crockett- Can you fill me in on these additional charges? Thanks.
 
Posted by motorhed on :
 
Damn! I need a spell check!
 
Posted by Dave007 on :
 
RML Trading..2.95 in, 2.95 out..

on the bare basic Meridian..

unlimted shares..

no hidden charges..
 
Posted by BuyTex on :
 
Mach recommends Choicetrade...I like the linked checking-account feature...

haven't decided, just know as I enter Year 2, will have another account beyond Scottie....
 
Posted by Ric on :
 
There is Izone which is ran by ameritrade. It is a no frills version. It is unlimited and $5 per trade. I keep my Ameritrade Apex account with my long stocks (I do not hold pennies long). That way I get my free level II, streamer and everything. Then actually do my swing trades with IZone for its cheap reliable service.
 
Posted by BuyTex on :
 
good strategy, Ric...kinda what I'm hoping for by mixing Scottie (with local branch who knows me) and Choicetrade...what I've come to believe is no matter how good/bad any single broker is? many of us need more than one account.
 
Posted by mjm2005 on :
 
To sign up for Ameritrade Izone, you need to fund with and maintain a minimum account value of $5,000. Your initial funding can be done either through a bank wire or brokerage transfer. Internet equity trades start at $5 per trade, which is made possible because everything from your statements to client services is handled online.
 
Posted by mjm2005 on :
 
I use Ameritrade... $11/trade

If you trade more than 5 times per month consistently in a 3 month period...you get upgraded to Apex, which has loads of features...

If you have over $5000 cash in the account, you also can request a checkbook for the account...
 
Posted by JoeMillion on :
 
etrade.com
 
Posted by DWE on :
 
What are those additional charges on top of the 5 dollar commission fee that ChoiceTrade charges?
 
Posted by motorhed on :
 
With the extra fees I've been charged from Choicetrade, it averages to $6.50 a trade. I've yet to hear back from them on it.
 
Posted by Ivan Baca on :
 
I use MyTradz.com their fees are $7.95 per trade up to ten million shares trading, as low as .0001. very happy with their service.
 
Posted by DWE on :
 
quote:
Originally posted by motorhed:
With the extra fees I've been charged from Choicetrade, it averages to $6.50 a trade. I've yet to hear back from them on it.

Well..... It your fees don't exceed $6.50 per trade, it's still a way better deal than Schwab at $9.95, I suppose.
 
Posted by EverGreen on :
 
there's any additional fee

the 3.xx trans.fees are debited only on SALE and are NASD fees (also other broker debit them)

quote:
Originally posted by DWE:
What are those additional charges on top of the 5 dollar commission fee that ChoiceTrade charges?


 
Posted by EverGreen on :
 
i found this:

Please be advised that SEC Transaction Fees and NASD Regulatory Funding Fees apply only to SELL side transactions

Regulatory Funding Fee
$.000075 per share

The Regulatory Funding Fee is charged for each sell side transaction at a rate of $.000075 per share, capped at $3.75 for each execution.


Transaction Fee
$.0000317 per Dollar

This Transaction fee is charged for each sell transaction based on the principal (dollar) amount of the securities sold. This fee is levied by the SEC (Securities and Exchange Commission). To calculate this fee, multiply the per dollar charge ($.0000317) by the total dollar amount of sales for each sell transaction.






quote:
Originally posted by DWE:
What are those additional charges on top of the 5 dollar commission fee that ChoiceTrade charges?

[/QB][/QUOTE]
 
Posted by MoneyMoneyMoney on :
 
I keep all my hard base stocks like Goog, Schw, JNS, and HD at Sharebuilder for the 4 dollar buy in once a month.

I then have Fidelity which gets 8 dollars for most unless your buying big blocks.

Cheapest is Scottrade for sure and its a six time winner of the J.D. Power ratings.

Gl all
 
Posted by MoneyMoneyMoney on :
 
I love all three. For daytrading Scottrade for sure.
 
Posted by BuyTex on :
 
what's your take on Sharebuilder, M3? saw that months ago, wondering about opening sumpin for my kids...
 
Posted by DWE on :
 
After doing some research on discount stock brokerage houses these last few days, I think I'm going with ChoiceTrade. Anybody here that disagrees on choosing ChoiceTrade, please let me know the reason(s) why. Thanks!
 
Posted by BROOKLYN'S FINEST on :
 
DWE: IF YOU DON'T MIND....WHY DID YOU CHOOSE CHOICETRADE???
 
Posted by DWE on :
 
Because of it's much lower cost on commission fees when buying and unlimited share buying power. Compared to Schwab at 999,999 shares for $9.95, that's saving alot.
 


© 1997 - 2021 Allstocks.com. All rights reserved.

Powered by Infopop Corporation
UBB.classic™ 6.7.2