My Investing Notebook
:: Learning from the pros; making decisions on my own. ::
My Investing Notebook
:: Learning from the pros; making decisions on my own. ::
I used to like Scottrade a lot. Where else do you get free Mutual Fund investing? Where else do you get no inactivity charge? No longer at Scottrade, I’m sorry to say. 
Scottrade limited the number of no-transaction mutual funds from 9000 to 900. I found out about this yesterday. For a while, I thought that I might have to stick to the 900 they have. Just wait, Stas. 
I found out about FirstTrade. You basically get old Scottrade: $7 trades; FREE mutual-fund trading; no inactivity fee. I am switching over my IRA accounts and one other personal account to FirstTrade. (I use InteractiveBrokers as my main account, of course — can’t beat $1 trades.)
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Hey Stan,
I’m looking into InteractiveBrokers currently as I may be taking a more active investing approach. Would you recommend it? I mean, is there anything negative that would make you not want to use them? I hope all is well.
Hey Mike,
I would definitely recommend InteractiveBrokers. There is a couple of things to be aware of, though:
1. You don’t get any research for free (I usually do it outside of any broker anyway).2. There is a minimum of $10 per month that you will be charged. You can make 10 trades and don’t be charged for anything, though.
Besides that, it’s great. I’ve been using them for couple of years now.
So, if you want the cheapest, bare-bones trading and you’re fairly active, then you’ll like InteractiveBrokers.