Thread: Overwhelmed - which on-line brokerage?

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  1. #1

    Default Overwhelmed - which on-line brokerage?

    *** I think I answered my own question now that I have spent a couple of hours playing with TOS.***

    Hi all,

    I am finally ready to get back into the market after cashing out in 2008 and am overwhelmed by the number of on-line brokers available.

    I intend to be an active trader, not a buy and hold investor. I will NOT be day trading. I have some experience with Merrill Lynch (prior to 1996) and I have not made my own trades since about 2000 (had an e*trade account). I was using a broker through 2008. My former broker has become a stalker of late and I was on the hunt for a new broker, when I came across this forum. I also had several recommendations from friends to just use an on-line broker and to make my own trades.

    I have a fidelity.com account (funded but have not made any trades) and am wondering which brokerage offers the best service, research and pricing (if that is 1 brokerage company). I went with fidelity because they allow extended hours trading (not that I would ever trade during extended hours) but it seemed like a good option to have if needed (i.e., to get in on a new IPO before market hours).

    I am willing to research in one place and trade in another if there are brokerage sites with great research but not so great execution.

    The on-line services that I have found, and would love to read recommendations for/against are:

    E*TRADE
    eOption
    Fidelity
    Firstrade
    Interactive Brokers
    Merrill Edge
    Options House
    optionsXpress
    Schwab
    Scottrade
    ShareBuilder
    SogoTrade
    TD Ameritrade
    thin****wim
    TradeKing
    Vanguard
    WellsTrade
    Zecco

    Thanks in advance for any advice!
  2. #2

    Default

    I really like TDA and recommend them.
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  3. #3

    Default

    Good day, I would recommend E-Trade for simplicity, Schawb for tools and interactive brokers for spreads and breadth of financial instruments. Also, read their TOS to get a better understanding of how their system works.
  4. #4

    Default

    Thin****wim is pretty good and they are offering a solid platform. You might be able to negotiate your commission as well if you are willing to bring in a certain amount of money.

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