If you're looking for a better brokerage, or if you simply have questions about certain brokerages, click into our Discount Brokers discussion board, where Fools are talking brokerages at any time of the day or night.
Here are some recent discussions that transpired on the board, to give you an idea of what you may find there:
- RedBadger asked about opening a Roth IRA account with Ameritrade
(NASDAQ:AMTD). Seascout3 reported no problems with a Roth at Ameritrade, and Kahunacfa expressed satisfaction with his Roth at Schwab (NYSE:SCH)and said he would open his next one with Scottrade.
- Arizonacat56 asked for opinions on and experiences with the brokerages in our Broker Comparison Table. Lorenzo2 said, "I'm very happy with BrownCo. (a unit of J.P. Morgan Chase
(NYSE:JPM)). Low commissions, low margin rates, no fees to speak of. Web site is decent, trades execute quickly, and as far as I can tell, at a good price. In three years, I've had occasion to call them a couple of times, and I've sent them a handful of emails. They always respond politely and quickly. In short, no complaints from me -- and market orders are still just $5."
- Arizonacat56 also asked about Freetrade and heard from lriordan that "I've used Freetrade for a little over a year and I am satisfied with their performance. [In 2004, I] made 57 trades with no problems. It is a bare-bones broker that has only cash or margin accounts. Strongly recommend the margin account even though you may not use the borrowing feature."
- Goldelieve asked how to go about moving an account from one brokerage to another. Lorenzo2 replied: "Transferring from one brokerage to another is simple. Go to Scottrade (for instance), fill out a new account application, which will include a transfer authorization. (Typically they'll also want to see a recent statement from your old broker, so they can see what kind of securities you have.) That's it -- the new broker takes care of everything else: they get in touch with your current broker and arrange for things to be transferred. You don't even have to deal with the old broker if you don't want to.... As for transfer-out fees, entirely possible. Perhaps $50 or so. But that's not so much, and you'll get it back" via lower commissions.
You can get much more advice on evaluating and choosing the best brokerage for you in our Broker Center -- check it out. And do give our vast discussion board community a whirl, too. You can try it for free for 30 days.
These other Fool articles on brokerages may also be of interest:
- Which Brokerage Is Best?
- You Can Trade Online
- Ameritrade Fires Another Round
- The $5 Stock Trade
- Brokerage Statement Bewilderment
- Don't Get Blindsided by Your Broker
- Rating the Low-Cost Brokerages
Longtime Fool contributor Selena Maranjian does not own shares of any companies mentioned in this article.