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Please help me. I just opened a Freetrade account which seems to have excellent commission fees. Now i am wondering if it would be a good idea to do an internal transfer of all my positions that are in Ameritrade to Freetrade; or are there financial benefits to maintaining both accounts? Almost all of my trades are over-the-counter types.my understanding is that there is a $25 fee each time i transfer. THANKSfor any help! louisa
Posts: 10 | From: bonita springs fl, usa | Registered: Mar 2004
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posted
I have freetrade and I love it! You really can't beat it, free trading up to 20, and after that is $3/trade until you reach 100. The reason they are so cheap is because they do NO advertising, don't have any phones you can call or anything just use e-mail, which "does not have anyone specifically assigned to it" they say, but I have had good luck with the e-mail based support any time I have a question. I'd recommend, you really can't beat it.
Posts: 1451 | From: Somersworth, NH | Registered: May 2004
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meshoe, thanks for your high praiseof freetrade! i hav strted using it. did you keep ameritrade? why or why not? it costs $25 for each internal transfer, ive been thinking of transfering my total ameritrade account to freetrade; or i could afford a$20 commission on my qbid stock-if it does well, so i cd leave ameritrade acct open. what do you think? louisa
Posts: 10 | From: bonita springs fl, usa | Registered: Mar 2004
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I dont even use my ameritrade account anymore... freetrade is the SAME thing minus phone support, call in brokers and all of that. As far as whether you should take it out or leave it in, I open this to anyone that has better opinion then me?? Im not sure! I would switch it over (freetrade u need to open an acct. with 5k though, thats the only thing, but I believe you will be charged by ameritrade if you don't have a certain amount in there as well? You won't by freetrade.
Posts: 1451 | From: Somersworth, NH | Registered: May 2004
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