posted
Made the final decision yesterday. I am switching my Ameritrade account (via internal transfer) to Freetrade (a company owned/operated by Ameritrade).
The big thing holding me back before was that all monies had to be sent/withdrawn via wiring. A pain. Now, they accept electronic funding as a method (initial account must still be funded via wire transfer or account transfer). I will be able to electronically fund/withdraw directly from and to a bank account. No hassles!
Ok the big gain? First 20 trades of a month are FREE. After that it is only $3 per trade to a certain level and then $1 per trade. I have rarely made more than 20 trades in a month, but with no commissions that could change! So, I am going from a $22 round trip to $0 or $6. Big savings! I will have to pay for level 2 and Advanced Analyzer, but the cost is far less than the commissions saved.
posted
This looks pretty good. If you don't mind could you update us again on how it is working for you. I was in BrokerageAmerica for a while, and the trading time took forever to execute. E*Trade has been great so far, but 9.99/trade. Let us know if you can do Pinkies too. Also, right now E*Trade is a whopping $25 to wire out, but free to transfer in. Thanks for this, and hope it works out for you! Posts: 546 | From: Methuen, MA, USA | Registered: Aug 2003
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posted
USA...I personally don't trade the Pinks, but I know several people using Freetrade who do....so no problems there from what I can tell. Also, the executions are said to be as fast as with Ameritrade's regular system.
If you have any questions, email them. I had replies to all my questions within 15 minutes of sending them.
I'll let you know how it works out when I am up and running.
posted
I have been using Freetrade for a month now , after transferring 3/4th of my assets from Ameritrade.I still use Ameritrade for interface etc., but do my trades in Freetrade. It is exciting to pay no commission !!!
Also I was able to trade OTC stocks in Market unlike Ameritrade which only accepts Limit orders for OTC.
posted
Cool, but how was the execution time with your orders. I'd like to try it, but I'm hesitant if it's as slow as BrokerageAmerica. Thanks for the note.
quote:Originally posted by bksundar: I have been using Freetrade for a month now , after transferring 3/4th of my assets from Ameritrade.I still use Ameritrade for interface etc., but do my trades in Freetrade. It is exciting to pay no commission !!!
Also I was able to trade OTC stocks in Market unlike Ameritrade which only accepts Limit orders for OTC.
Posts: 546 | From: Methuen, MA, USA | Registered: Aug 2003
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posted
Well...only took 1.5 days for the transfer to finish! My account is funded and I'm ready to roll for 2004. Just need some free cash to start the trading! Come on PGHI...start the printing press!
Posts: 851 | From: PA | Registered: Jul 2003
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