posted
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
-------------------- "NEVER UNDERESTIMATE THE POWER OF THE U.S./CHINA CONNECTION"
-------------------- NO REWARD....UNLESS THE RISK IS TAKIN'--- JAY-Z Posts: 409 | From: THE CITY THE CONTROLS THE WORLD.............THATZ RIGHT NEW YORK | Registered: Dec 2005
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-------------------- I have taken a vow of poverty, so if you want to irritate me, send money. Posts: 1032 | From: DFW | Registered: Oct 2005
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posted
NOT SURE ABOUT UNLIMITED BUT I BUY 3 MILLION SHARE AT .0001 AND PAY ABOUT $8 TOTAL
-------------------- NO REWARD....UNLESS THE RISK IS TAKIN'--- JAY-Z Posts: 409 | From: THE CITY THE CONTROLS THE WORLD.............THATZ RIGHT NEW YORK | Registered: Dec 2005
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posted
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?
-------------------- "NEVER UNDERESTIMATE THE POWER OF THE U.S./CHINA CONNECTION"
posted
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.
-------------------- I don't play well with others, and have a problem with authority. I love to see the big guy fall to the under-dog. Posts: 192 | From: New Jersey - Armpit of the World | Registered: Jul 2005
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posted
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.
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posted
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
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posted
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.
-------------------- NO REWARD....UNLESS THE RISK IS TAKIN'--- JAY-Z Posts: 409 | From: THE CITY THE CONTROLS THE WORLD.............THATZ RIGHT NEW YORK | Registered: Dec 2005
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posted
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?
-------------------- "NEVER UNDERESTIMATE THE POWER OF THE U.S./CHINA CONNECTION"
posted
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.
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posted
DWE I NEVER PAID MORE THAN $8.10 PER TRANSACTION, BUT THE MOST SHARES I BOUGHT AT ONE TIME WAS 4 MILLION
-------------------- NO REWARD....UNLESS THE RISK IS TAKIN'--- JAY-Z Posts: 409 | From: THE CITY THE CONTROLS THE WORLD.............THATZ RIGHT NEW YORK | Registered: Dec 2005
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posted
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.
Posts: 167 | Registered: Dec 2005
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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
-------------------- "Please note that every week from now until the end of time is a 'coming week.' " Posts: 512 | Registered: Sep 2005
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posted
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.
Posts: 1632 | From: NJ | Registered: Nov 2005
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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
OMG, I'm tired today. I meant to edited and not quote myself. Long weekend is good for me lol. Sorry!
Posts: 1632 | From: NJ | Registered: Nov 2005
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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.
Posts: 462 | From: FL | Registered: Oct 2003
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posted
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?
-------------------- "NEVER UNDERESTIMATE THE POWER OF THE U.S./CHINA CONNECTION"
posted
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.
-------------------- "NEVER UNDERESTIMATE THE POWER OF THE U.S./CHINA CONNECTION"
posted
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.
Posts: 83 | Registered: Feb 2005
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posted
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.
-------------------- Invest with your brain not with your heart. Posts: 4405 | From: Bristol, Tn, USA | Registered: Aug 2004
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posted
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
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.
-------------------- Remember two things: You love New York City and leave only your footprints. Posts: 1526 | From: Chatham, NJ... and NC-- Wake Forest University | Registered: Jul 2005
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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...
-------------------- Remember two things: You love New York City and leave only your footprints. Posts: 1526 | From: Chatham, NJ... and NC-- Wake Forest University | Registered: Jul 2005
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