Money Forum World

Kay H. · Joined: 08 Nov 2007 Posts: 2155

I want to buy and trade stocks without a broker and could like to use an online service like e trade?
I want to use up as little money as possible on anything else exept for the real stocks, and don't want to use a broker or their services. I also want full control so I can purchase or sell at any moment of my choice. And small membership fees. Also don't want to put more then some thousand so low initial prerequisites and preferably no monthly fees. Any help?

Vicky Holden · Joined: 08 Nov 2007 Posts: 2103

I could recommend Scottrade. Grant it, I'm a little bias, but Scottrades repute and service speaks for itself, and you may be able to open an account with as little as a $500 deposit.

Also, Scottrade doesn't charge for inactive accounts or for account maintenance, and there aren't minimum number of transactions trades obliged. Scottrade has a flat rate $7 for most online market and bound equity orders, despite of your trade frequency, account balance, or the number of shares in a transaction. you may be able to compare the commissions/fees of some number of brokerage companies at: scottrade.com/online_broker_c. .

I hope you find this info useful. let me know if you have any extra questions. Id be happy to help.

Scottrade
Scottrade.com
1 619 7283

Golddigga · Joined: 08 Nov 2007 Posts: 2086

You may want to check out zecco.com. presuming youre not a daytrader, but a dabbler, this may work out just good for you.

Amado · Joined: 08 Nov 2007 Posts: 2098

sharebuilder.com

if you're wanting to purchase on tuesday at their descretion as part of a big block trade it only cost 4$. No account maintence fees. Mkt orders on demand are about 15$ with bound orders at 20$.

sometimes it's worth paying for a service.. keep that in mind although.

Dorian C. · Joined: 08 Nov 2007 Posts: 2077

Ive been really happy with Scottrade.com $7 trades, although they dont offer free instant transfers back to my bank account. Ive looked into Zecco too free trades cant beat that.

I like E Trades site and features, but when I was with them they charged ridiculous fees like when I didnt make any transactions $25. That may changed by now their trade fees are more reasonable now too.

Olga · Joined: 08 Nov 2007 Posts: 2182

If you want to do some purchase and hold and are OK with Tuesday investments check out sharebuilder.com.

If you want to be a day trader, I dont have an answer for you and I recommend against it b/c you'll lose a good bit of your returns paying fees to purchase and sell.

djv

Mathew Velasquez · Joined: 08 Nov 2007 Posts: 2131

If you want to use up as little money as possible then open a brokerage account with the broker Zecco. ITS FREE

If you have something against brokers then you may be able to contact the Investor Relations Department of the public company you want to purchase and they'll sell you their shares directly.

NOT ALL PUBLIC businesses OFFER THIS SERVICE.

In any way, Direct Investment Programs aren't FREE.

E Trade is a broker.

Sybil Conner · Joined: 08 Nov 2007 Posts: 2158

Technically an online service could be your broker

Zecco.com is seemingly free I really ought to open an account with them. and wont charge you for having a small account although I think they charge you a fee for an ira.
I use tradeking.com, which only charges 4.95/trade and charges lower margin rates that zecco and doesnt charge you for having a small account.
I have an etrade account, which is comparatively costly at 10/trade.