posted
Freetrade was the perfect trading website for the small time trader. Effective April 29, 2005 Freetrade will convert to Ameritrade IZone. The $0 commissions offered by Freetrade will be replaced with $5 commissions by Ameritrade IZone.
Does anyone have any suggestions about online brokers that have no commissions, margin, and less than $10,000 initial deposit? Thanks.
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quote:Originally posted by McBuyInTime: I'm using AmeriT and I never knew that was such a wonderful beast....how does a venture without any commission at all work, I wonder...
(I just wish AmeriTrade wasn't so sluggish with my olde dial-up connection...)
Ive often asked myself that.. dont they have overhead? like employees? rent? etc.. etc.. <shrugs> just wondering..
-------------------- Let the world change you... And you can change the world.
posted
Same way some banks do. They'll give you 1% interest a year and use your money to invest and get more..
Freetrade probably did the same, tried to use money from their customers to invest but it didn't work out. Just think how much money you have in your account and how much, on average, is cash every day.
-------------------- Money was never a big motivation for me, except as a way to keep score. The real excitement is playing the game.
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posted
They offer margin accounts. If you use the margin you pay interest. Also, only the first 20 trades a month are free. After that its $3 a trade. Freetrade is part of Ameritrade so I guess they shared some expenses. I just wish there was another compnay like it. Oh well, I guess I will have to pay the $5 commissions.
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posted
Lowtrades.com has very low commission fees. Only $5 for all trades, except for pink sheets over 100,000 shares. After 100,000 shares it is an additional 1% of the principal. So a $500 purchase/sale on Lowtrades would be $10, or $5.00 for the first 100,000 shares, then 1% of the $500, or $5, so a total of $10. Check it out. I might transfer my Ameritrade account over to it.
Sharkone
-------------------- No matter how thin you slice it it's still baloney...
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quote:Originally posted by sharkone: Lowtrades.com has very low commission fees. Only $5 for all trades, except for pink sheets over 100,000 shares. After 100,000 shares it is an additional 1% of the principal. So a $500 purchase/sale on Lowtrades would be $10, or $5.00 for the first 100,000 shares, then 1% of the $500, or $5, so a total of $10. Check it out. I might transfer my Ameritrade account over to it.
Sharkone
Choicetrade.com is better... check out their website...
-------------------- Let the world change you... And you can change the world.
posted
How are Choicetrade's order fills? Fast? Do you ever get the slighly better than bid or ask prices on trades like Freetrade and Ameritrade sometimes give?
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