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Schwab Vs Fidelity
Old 10-15-2007, 11:13 AM   #1
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Schwab Vs Fidelity

For some one who is only going to trade stocks infrequently with large purchases, which of the two would be better? I have used smaller discount firms and was not pleased. I like the other services these two offer but which would be better for my needs. At the moment I really can't see a difference. Thanks.


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Old 10-15-2007, 11:17 AM   #2
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I mostly use Schwab, but have a small fido account as well. I like Schwab, but there isn't really a whole lot of difference, IME.

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Old 10-15-2007, 11:51 AM   #3
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Either would be fine, I think. I have Schwab and although I like how much cheaper the trades are now ($12.95 versus $29.95 a couple years ago) and I've been happy with the service, one thing I don't like about Schwab now is that you can't use a sweep money fund unless you have $500K in assets with them. If you don't have $500K, you either need to purchase money funds on your own (with a $2500 minimum) or use their "bank sweep" on cash balances which pays a pretty pathetic yield (around 2.2% last I looked). This alone would probably make me look elsewhere if I were opening a new account, though it's not a big enough deal in my situation to actually close the account and go elsewhere.
"Hey, for every ten dollars, that's another hour that I have to be in the work place. That's an hour of my life. And my life is a very finite thing. I have only 'x' number of hours left before I'm dead. So how do I want to use these hours of my life? Do I want to use them just spending it on more crap and more stuff, or do I want to start getting a handle on it and using my life more intelligently?" -- Joe Dominguez (1938 - 1997)
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Old 10-15-2007, 11:54 AM   #4
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My KEOGH is in a Schwab account. I can compare it to American Century which has a better statement, IMO. American Century gives a pie chart to show positions and a line chart to show cost relative to current value, I like that. I don't remember an annual fee with AC but Schwab waives it when the account reaches $100,000.
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