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I use it. It is slow with transactions, but other than that no problems. The fact that they are slow may not be all their fault. All good by me.
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What could be cheaper? First 20 trade free every month, and each additional trade goes from $3 all the way down to $1. Ameritrade is $12 per trade. What a deal. What is cheaper?
quote:Originally posted by GuyInBoxers: i use it. it's good. i think other services might be a bit cheaper, but eh. it's pretty good.
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i agree,it seems like a great deal,i have an ameritrade acct.will keep it for free streamer an other things ,but as i am now getting into otcb.bb stocks now,gonna transfer my BUYandHOLD ACCT.TO FREETRADE,i was just wondering if freetrade,was as good as it sounds,thanks.
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i was told they just want to make sure are ok with online trading and know that u can do all your trades without the need to use broker,they just don't want to hold your hand while u trade,and that u can get by w/ minimum suport
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IF YOU TRADE A STOCK THAT IS TRADING 10,000 SHARES PER DAY AND YOUR ORDER IS FOR MORE THAN 500 SHARES, THEN IT WILL TAKE AWHILE TO FILL/SELL NO MATTER WHO YOU USE.
10-SECOND GUARANTEE'S ARE ONLY GOOD ON STOCKS $5 AND ABOVE
IF YOU GOT THE 5,000 THEN OPEN YOUR FREETRADE ACCOUNT. THE NICE THING IS THAT WHEN YOU OOPS AND BUY A STOCK THAT COMES RIGHT BACK DOWN IN PRICE YOU CAN USUALLY SELL FOR WHAT YOU BOUGHT FOR AND ZERO COMMISSION AND BREAK EVEN. I'VE DONE THIS SEVERAL TIMES AND IT'S A NICE CUSHION TO HAVE.
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just applied and was instantly not approved. anyone experiance this? is it because i am unemployeed and my total net worth was the lowest on the choices?
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Transfering Buy and Hold to Freetrade will be cheaper but the record keeping will be a nightmare. If you plan on trading Freetrade doesn't keep track of the prices paid on your incoming stock. I love Freetrade for trading, but if you buy the same stock at different times and prices you will have a difficult time tracking what you are selling. They use FIFO and you have to email them to tell them which you are selling, get their response and keep it for your taxes. Not a great system. For trading can't be beat. If you are planning on keeping your buy and hold shares long term and adding to them you might want to switch to etrade or Ameritrade if you trade OTCBB stocks and pinks. It costs a lot more per trade if you are an active trader but may save you time and frustration on your taxes. I use Freetrade, Etrade and Scottrade and like all of them for different things. Scottrade is $22+ 1/2% for pinks but $7 for Nasdaq and Dow. Happy trading. -Debi
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I really like FreeTrade except for the fact that they don't offer level II for pink sheet stocks. I ended up canceling my level II with freetrade and having to sign up with Alphatrade for all of my realtime level II quotes. I contacted freetrade in regards to trying to get them to over level II for pinks in the future since I like their command center for displaying various information on one screen with their stock command center versus having many different windows opened at the same time like with AlphaTrade. Finally, Alphatrade does provide with it's base package more analysis tools for charting and performing technical analysis.
-JJ
quote:Originally posted by bimbo: any one have any input on freetrade? good or bad?
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There was mention on this board of high prices for things like level II quotes and other services offered. Very true that some of the costs seem to be a bit on the high side, however you have to imagine the amount of money you are saving from commision fees on all the trades that you do. If the other services were cheaper than you would be paying a lot more for doing your trades. This is how they can keep the trade commissions down and still stay in business. If you think about it and add up the commission fees paid out with other brokers and the small amount of money you pay for other services in comparison to what you pay for commissions and fees at the low commission places you will see that overall you are saving money.
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BUYandHOLD does not have gainskeeper,but freetrade does,which makes everthing so much easier at tax time,buy and hold was a night mare for me at tax time,used gainskeeper for my ameritrade acct.it made tax time so much easier,that is one reason i am transfering to freetrade,also buy and hold offers limited # of stocks to trade,
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i hav ameritrade cash account. how do i chage to their free trade account? does the $5000 minimum hav to be cash; or is it based on the value of my portfolio? thanks fr any help.
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quote:Originally posted by louisa165: i hav ameritrade cash account. how do i chage to their free trade account? does the $5000 minimum hav to be cash; or is it based on the value of my portfolio? thanks fr any help.
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