posted
I started a new job recently and wanted to roll my old 401K into an IRA with the option to buy and sell individual stocks. I know a few people here have traded from IRA accounts before, but is that more the exception than the rule?
Which broker did ou use to do it, and how complicated (if at all) was it?
Thanks.
metal1
posted
most the most part IRA's are free trading and tax liablity from trading at the end of the year. i trade mine too. there is one exception that i know of which i can't remember at the moment where there can be a tax liability at the end of the year.
PCola77
posted
Oh okay, I thought most IRA accounts you couldn't buy individual stocks. Maybe I was just thinking of a rollover into my new 401K.
Jo4321
posted
I have an IRA with Fidelity and can trade in there.
metal1
posted
in 401k's access to individual stocks is very limited but not in IRA's
PCola77
posted
Yeah, you guys are right. Just checked Fidelity, Schwab, B of A, etc.
Jo, do you know what you pay for commsission? I think I read $12 + .015 for each share over 1,000 shares.
Jo4321
posted
I pay $8.00 a trade for commission on stocks over $1.00.
That is their gold rate, because I have it connected to my other account and also my husbands account, so we qualify for the number of trades for that rate.
If you have the gold rate, you don't pay extra for over 1,000 shares unless it is a stock under $1.00.
TDAmeritrade will give you 30 days of free trades for opening an IRA.
They charge $9.99 per trade with no extra $$ for trades over 1000 shares or for stocks that are less than $1.00.
You might also want to look at ChoiceTrade.com
PCola77
posted
LOL. I actually did one of those online chats with reps from Fidelity and B of A today asking them about fees. Fidelity never mentioned that special for rollovers...
Guess I should figure out if free trades for a year is better or worse than $5 from the git-go for ChoiceTrade (assuming they do IRAs...)
I'm sure I could get free trades from Fidelity for a year and then transfer it elsewhere, but I have approximately a 100% chance of being too lazy to change anything a year from now...
Thanks though, Jo.
By the way, I'm guessing you hit the 120 trades per year, not the $1mil in assets?
Jo4321
posted
quote:By the way, I'm guessing you hit the 120 trades per year, not the $1mil in assets?