posted
I am new and wanting to trade for cheap online. Scottrade has got a terible website....Is there someone else I can get a cheaprate from. Scottrade charges me $7+1/2% of total cost of shares i buy ..(For penny stocks) I know this is not the thread to ask this question but I thought u guys know whats going on. Plz help me~
-------------------- This is not a recommendation to buy or sell securities.
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posted
I don't have an answer for you but your right the Scottrade site is God awful. It freezes up constantly. They do have up to the second price quotes though.
posted
Ameritrade is okay most of the time with $10.99 per trade but their customer service needs help. Choicetrade is half that at $5.00 per trade and I get help with customer service 99.9% of the time on the first call. Good luck!
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i see there is no mininuim requirement to open an account with choicetrade. I do have scottrade and feel that they are ok with penny stocks. What would be the difference between scottrade and choicetrade if you have a cash account? does the 3 time daytrading rule under 5 days still account for choicetrade? trying to find more information regarding cash account
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Yes the rule still applies, however you do not really get into trouble too much. Choicetrade just puts a hold on the proceeds of the sale until they are cleared (majority of the time the next day). That is all that really has happened to me in the past, hope this was helpful. If not you can just give them a call or shoot them an e-mail their custumor service is very good.
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posted
The 3 time daytrading rule under 5 days still accounts with Choicetrade cash accounts if your available cash balance is under $25,000.
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quote:Originally posted by stocks1984: i see there is no mininuim requirement to open an account with choicetrade. I do have scottrade and feel that they are ok with penny stocks. What would be the difference between scottrade and choicetrade if you have a cash account? does the 3 time daytrading rule under 5 days still account for choicetrade? trying to find more information regarding cash account
I have both Ameritrade and ChoiceTrade. I recommend ChoiceTrade for penny stocks if you have access to real time quotes. I recommvend Alphatrade for the quotes and the level IIs.
Ameritrade charges a flat $10.99 per trade, while ChoiceTrade is $5.
-------------------- Before you criticize someone, try walking a mile in their shoes, then when you do, you'll be a mile away and have their shoes.
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YES you get real time steamer quotes.I do not have any problems with Scottrade.I have been with them for over 2 1/2 years..But,I use the old site. the new one sucks...
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quote:Originally posted by coalkickin: Choicetrade has real time quotes...not L'2s though
Really? I've never used them, when I signed up they had something like delayed 20 min quotes. But I just use Alphatrade for L2s and quotes.
-------------------- Before you criticize someone, try walking a mile in their shoes, then when you do, you'll be a mile away and have their shoes.
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posted
it doesnt seem to have free real time qoutes, that sucks, i know scottrades fee's is 7 + 1/2 principle. and they provide you with free real time qoutes. Choicetrade charges you $20 dollars a month for their real time. So let me get this straight, In order for choice trade to work you have to find a way to get real time quotes unless you want to buy theirs for 20 dollars a month? That sucks. I say this because to have a good account with scottrade, dont you have trade a certain amount of stocks in a given time online to have an online account? sorry this might seem confusing here but let me give an example:
I have scottrade as my brokerage. Cash account online trading. Provides everything choice trade provides except level 2 qoutes and 5 dollar commission. So lets say i keep scottrade for the real time qoutes and open an account with choicetrade. Now if i make all my trades with choice trade and none with scottrade, isnt scottrade going to cancel my account because it will show that i am not using the account to trade online? If im able to do this then, yeah i would say it is a heck of a deal. by the way do you get free level 2 qoutes on choice trade with a normal 500 dollar acount?
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i haven't had a problem with scottrade yet.. but that could be because i'm just starting, and haven't had any major buys or sells.. but if i end up getting some good trades in and i make 10,000 dollars off a trade, the commission would be a bothersome $57. but the real-time quotes are nice to have..
so i might be looking to transfer over to choicetrade or somethin else if that turns out looking promising.
-------------------- Hindsight is 20:1. It's like printing money.
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I have Sharebuilder, Fidelity, and Scottrade. I do most of my penny and OTC trades through Scottrade and a few through Fidelity. I really like the quickness of Scottrade. Sharebuilder is only for long term and I hardly ever buy through them. Too high on fees, unless you do the one time 4 dollar a month buy.
-------------------- I buy fast and sell faster!
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The beauty of ScotTrade is local offices. I can walk into a local office to make deposits or deal with any issues. The .005 extra per trade is off set by the peace of mind.
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ya, a manager on your side can help when you need to get Compliance, settle a divvy question, etc. And the regular line staff "being on your side" can result in quicker responses, too.
-------------------- Nashoba Holba Chepulechi Adventures in microcapitalism...
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Yes,real physical offices sets Scottrade apart from Ameritrade and Etrade.My local branch is just a couple miles away and have never been there or met my guy in person but have talked over the phone and he is always helpful and informative.
-------------------- Despite the high cost of living it remains popular
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quote:Originally posted by alohadream: Yes,real physical offices sets Scottrade apart from Ameritrade and Etrade.My local branch is just a couple miles away and have never been there or met my guy in person but have talked over the phone and he is always helpful and informative.
I noticed only recently that Ameritrade has a big regional office near me...well, I say regional--it's a big, huge building...
Anyway, have been thinking about just dropping by sometime for a look-see...
-------------------- Nashoba Holba Chepulechi Adventures in microcapitalism...
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I have both Lowtrades and Choicetrade. The combination is excellent, Neither charges for opening an account or requires ANY minumum to open an account. Lowtrades is cheaper by a good bit for real time quotes and L2s. Choicetrade allows stops on any stock at any price. I highly recommend that you have more than one broker, whatever they are.
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Choicetrade... they are constantly improving and adding to their service.. yes they charge $20 a month for real time quotes but if you trade 25 or more times per month that is waived i believe.. you can use www.quotetracker.com with them as well... give choicetrade.com another 12 months or less and they will be up to par with ameritrade and scottrade with certain services... and we won't be having this discussion about who to choose...
-------------------- Let the world change you... And you can change the world.
posted
The one thing that will set the brokerages apart is getting live level 2's for pinksheets. For Ameritrade(whom I believe will be the pioneer in this category) will then be able to justify the 10.99 comissions that they charge.
I've e-mailed Ameritrade about this and mentioned some of the benefits to them for beginning this service.
The first brokerage firm that decides to provide free, live pinksheet L2's will see many new members flocking to them. This feature will give whatever brokerage the advantage over the competition until it becomes the norm for all brokerages over time.
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