What online discount stock broker would you recommend based upon your own experiences. Who do you trade through ? & are you happy with the functionability & service that you receive ?
2006-10-25 12:57:41 · 3 answers · asked by Justin 3 in Business & Finance ➔ Investing
I'll field this one.
Even though I'm not a day trader you want fast reliable stock quotes at a fair commission price. A lot on here will do just that but Take a closer look at these players. Thinkorswim, Scottrade, TD Watterhouse and E-Trade. I use thinkorswim they are very upfront and helpful with live chat help before and after trading hours.
2006-10-25 13:03:21 · answer #1 · answered by Anonymous · 0⤊ 0⤋
None of your answers so far have been from traders. A trader would tell you that the number one consideration is your trading platform and technical analysis package. If someone tells you it's "easy" to use, you know right away, this person is not a trader.
There are so many places you can go wrong, and only a few right ways of thinking will help you. The display in front of you must not hinder you or distract you. Your ability to concentrate fully and intensely can mean the difference between consistently taking home huge profits and barely staying above water. It's vital that you pay attention to multiple sources of information, sift through them, prioritize each separate piece, and make an astute decision once all information has been scrutinized. You can't be distracted and unfocused while formulating a trading plan or monitoring an ongoing trade.
It is vital that you develop your intuition by trading with a variety of methods under a wide range of market conditions.
Whether you are trading stocks, forex, commodities, futures, options, or all of these, TerraNova is the only one that you can trade everything, real time, online, direct access. A lot of online brokerages claim to give you direct access, but if they take more than a second to execute your trade, it ain’t direct.
Find the articles online, or in the trade magazines, that have evaluated and compared online brokerages. I found a good one online in Barron's.
This is worth putting a little time and effort into, because it's a pain to switch, so once you choose, you're kinda stuck with it.
Townsend Electronics, the Parent company of TerraNova, are the people that digitized and electronified the Nasdaq. They are technological industry leaders and have a powerful and well built trading system.
I use RealTick at TerraNovaOnline, but it costs $275/mo. I think the Investor package is free to use, and just uses one screen.
What you should try is a free trial of their Investor platform. You only get one window to trade from. Their rates are good also, but of course, it depends on how often you trade. If you make 200 trades per month, it will only cost you $2 per trade. It will take you months to learn all the bells and whistles of what this program can do.
The other top-of-the line program is TradeStation, but it costs big bucks to join and operate. Some people consider it the Cadillac of trading and technical analysis.
TerraNova is the home of the Day Trader, so they think nothing of you making several hundred trades a day. You don't have to do that, but it's okay here if you do.
2006-10-25 16:51:24 · answer #2 · answered by dredude52 6 · 0⤊ 0⤋
I use Scottrade. I think they are the best, mostly because they have the best price on individual trades - $7/trade.
Their website is easy to use, and their customer service is good too.
If you are looking for trading ideas, I would suggest http://top10traders.com - this is a free site, where you can see what the best traders are buying and selling. You can create your own portfolio of stocks or funds with $100,000 in "play" money. Each day the site ranks the performance of everyone's portfolio, so you can see how your picks perform compared to other users. Good Luck.
2006-10-26 13:24:36 · answer #3 · answered by jojo 3 · 0⤊ 0⤋
I use Bank of America Investment Services https://www.baisidirect.com/index.html which I began using after BAC merged with Fleet (FBF) the owner of Quick&Reilly, Inc. I pay $7.00 for current on-line trades and I find the service very easy to use. I would highly recommend it and if you have $25,000 you would like to keep in a money market account or CD you can get trades with them for free. Regardless there $7.00 flat rate I get is about the best in the business.
2006-10-25 13:06:01 · answer #4 · answered by Anonymous · 0⤊ 0⤋
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2016-12-16 14:27:01 · answer #5 · answered by dunnuck 4 · 0⤊ 0⤋