Allstocks.com's Bulletin Board: Lowtrades.com review

This is topic Lowtrades.com review in forum General Investing Topics at Allstocks.com's Bulletin Board.

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Posted by bill on :

Anybody using lowtrades.com or have used them in the past? I am thinking of signing up for them as I am attracted by the $5 commissions but I am not sure how good they are.

Thank you

Posted by GreenKnight37 on :

Hey Bill,

I just started with Lowtrades yesterday, and will be wiring in some funds tomorrow(stuck at work unfortunately!). They seem to be a good broker from what I can tell and what I've heard.

Upsides: Cheap commissions...thats they're big selling point. Unless you can afford a $5000 minimum for freetrade.com, Lowtrades is the cheapest thing around.

Downside: It took 2 weeks for them to open my account. So once you're serious about them, send the stuff right away. That way you can trade sooner. Also, their interface and trading system isn't designed for a novice. You need some familiarity with a few terms, but a quick Google search will help you find any terms you're not familiar with.

Overall...I'd say go for it. The commissions are at a very good price, and I think its a good choice. Check out the Sub-Penny message board for a lot of comments about Lowtrades.