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Old 12-01-2009, 11:54 PM   #21
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I just got done doing 6500 shares and was charged $95.xx or a bit more.

-$28,955.45
$95.45

A few smaller transactions I was charged $12.95 --- looks like I need to talk to Schwab and get my account adjusted to the $8.95 trades!
Commission: $12.95 Redemption Fee: 0.00 EXCH PROC Fee: 0.27
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Old 12-02-2009, 12:19 AM   #22
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Originally Posted by crazy connie View Post
I pay $8.95 at Schwab no matter how many shares except when my buddy gives me a block of free trades.
Same here. No "frequent trader" or other qualifiers to get that rate either. $8.95 is it regardless of the number of shares.
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Old 12-02-2009, 12:28 AM   #23
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Quote:
Originally Posted by Fantasm View Post
I just got done doing 6500 shares and was charged $95.xx or a bit more.

-$28,955.45
$95.45

A few smaller transactions I was charged $12.95 --- looks like I need to talk to Schwab and get my account adjusted to the $8.95 trades!
Commission: $12.95 Redemption Fee: 0.00 EXCH PROC Fee: 0.27
On line or phone?
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Old 12-02-2009, 12:40 AM   #24
Recycles dryer sheets
 
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Old 12-02-2009, 05:26 AM   #25
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Originally Posted by crazy connie View Post
I pay $8.95 at Schwab no matter how many shares except when my buddy gives me a block of free trades.
That's the rate if one is fortunate enough to have over 1 million in assets there or do more than 120 trades a year. If not its $12.95 for the first 1,000 shares and 1.5 cents for each additional share. Similar at Fidelity. A 5,000 share trade could end up around $75. Unless you threatened to leave and worked a special deal or ?

One of the reasons why I'm bringing everything to Td Ameritrade where its $10 no matter what the size of your endowment, number of in and outs or trade size.
Schwab Commisions
Fidelity Commisions
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Old 12-02-2009, 05:31 AM   #26
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I use Schwab for online trades only because that is what we set up years ago, before all the competition. I have been happy with them. I pay $12.95 per trade. I also have an IRA with them.
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Old 12-02-2009, 10:50 PM   #27
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Wells Fargo has the best deal going if you can keep $25,000 in your accounts: everything is free including checking and trading in your brokerage account. See the current thread on it at bogleheads: Bogleheads :: View topic - How come everybody doesn't use WellsTrade?
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Old 12-03-2009, 09:11 AM   #28
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Another vote for Wells Fargo. I get 100 'free' trades a year in my IRA account and also in a taxable account. I don't trade a lot, after initial set up of about 20 stocks/ETFs I only had 4 trades this year. I think it is good to have an account set up so you can buy an asset when you feel appropriate or liquidate an asset when you need money But 'trading' as used by the OP sounds more like day trading and that would not work for me. I seem to be OK at buying stocks but I do not have a system to tell me when to sell so I expect to hold indefinitely and then sell only when I need the money for expenses. I try to look over my stocks and sell what has had a good run up. In my taxable account its nice to be able to tax loss harvest, did that for the first time in 2008. Every little bit helps. Real trading is actually a lot of work my account isn't large enough to make it worthwhile and besides, I want to be retired.
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Old 12-12-2009, 01:11 PM   #29
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My dad has used Ameritrade for the past 7 years, and likes it. We both trade on the side.

Zecco.com offers a similar deal to WellsTrade, 10 free trades a month if your account balance is over $25K. The 25K minimum is a common cutoff because it qualifies the account holder to day trade.

My accounts are with Scottrade ($7/month unlimited shares), and Sogotrade ($3/month unlimited shares). I only trade online. Scottrade has better customer support for answering questions, things like wiring money in/out of accounts and changing beneficiaries. With Sogotrade I prepare to be held on their phone system.
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