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| fpduck |
 Posted: Fri Mar 11, 2005 9:34 am Post subject: Freetrade |
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New Poster
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Freetrade is a low cost discout broker and a division of Ameritrade. Trades are free for the first 30 trades than a low fee after that (1-3$ / trade).
You must have had an online brokerage account for at least 3 years to open this account. |
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| thrilla |
| Posted: Fri Mar 11, 2005 4:45 pm Post subject: |
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Investing Sr. Associate
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http://freetrade.com/
It is actually 20 free trades. There is also a $5000 initial deposit. Great discount broker for those who don't trade that much in a month. |
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| nemesis |
| Posted: Sat Mar 19, 2005 6:24 pm Post subject: uuugghh |
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Member of the Month! March
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| hmmm 5000% US...that seems quite alot. Maybe not in comparison with others but for beginners its too much right? are there ones with less initial deposit?? |
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| Cyclops |
| Posted: Sat Mar 19, 2005 9:52 pm Post subject: |
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Investing Associate
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| If someone doesn't have 5k to trade with I don't think they should be trading, unless it's a margin account of course. |
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| thrilla |
| Posted: Sun Mar 20, 2005 5:01 pm Post subject: |
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Investing Sr. Associate
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 wrote: | | If someone doesn't have 5k to trade with I don't think they should be trading, unless it's a margin account of course. |
I would have to disagree with this statement. You can start an IRA account with much less than 5k (in fact....there is a limit to how much you can put in an IRA in one year). |
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| Cyclops |
| Posted: Sun Mar 20, 2005 6:32 pm Post subject: |
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Investing Associate
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That's a slightly different proposition, an IRA is more a long-term investment strategy where you keep building your portfolio or assets for retirement.
Using 5k for "trading" buys you, say 250 shares at 20.00 per. A 10 tick change in the shareprice is worth $25....keeping in mind the volatility of the stocks where do you cut your losses. Also costs involved, brokerage each way, etc etc. The risk/reward just doesn't make it worthwhile.
And you don't want all your eggs in the one basket so you would own more than one company further reducing your leverage.
It's just too hard with 5k, the money would disappear very fast....there is no room to move and simply not enough leverage.
The thing to remember about the market is not every stock you buy is going to be a winner, 2 wins from 5 is a very good result, cut the losers and ride the winners. |
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| tylr |
| Posted: Mon Mar 21, 2005 1:25 pm Post subject: |
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Investing Associate
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Freetrade does not offer IRA accounts. It is a great deal for the active but not quite day trader. It's interesting to classify what is 'not many trades per month' since theorically, you can do one trade per day (20 trading days/month) free.
BTW, I like it. E-mail communications average about 15-20 minutes turn around time and executions are as timely as Ameritrade. |
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| fredfred |
| Posted: Thu Apr 07, 2005 9:58 am Post subject: |
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Investing Associate
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| whats minimum amount i need to trade |
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| jumbojack |
| Posted: Tue May 24, 2005 7:02 pm Post subject: |
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Investing Sr. Associate
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newbie alert  i just applied for an account at firstrade. they're offering 100 free trades and the only requirement is to make a $2k initial deposit and maintain $2k net equity for 6 months. |
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| lostsoul01 |
| Posted: Wed Jun 01, 2005 6:29 am Post subject: |
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Investing Sr. Associate
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Since this has been brought back up I just wanted to mention that
FREETrade is no longer. It is now Ameritrade Izone with $5 trades. |
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| freeye |
| Posted: Wed Jun 01, 2005 9:49 am Post subject: |
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Investing Manager
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jumbojack wrote:
newbie alert i just applied for an account at firstrade. they're offering 100 free trades and the only requirement is to make a $2k initial deposit and maintain $2k net equity for 6 months.
thanks for the post jumbojack;
i for one would be interested to see periodic updates on your experiences with the firstrade account. if you could see a way to do so.
may be a good way to building up your einvesting$... it may even be interesting to other board members if you were to let us know how the firstrade account offer works-out for you on a periodic basis, say weekly, every other week, or monthly.
seems like if the market turns against you or you get clocked by a bad bit of news on one of your stock positions you may have to be digging into your pocket to keep the net equity up, assuming you only start with the $2,000 minimum. fortunately you will not need to be paying out on the commissions on the first 100 trades.
i appreciated your post. |
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| jumbojack |
| Posted: Wed Jun 01, 2005 11:36 am Post subject: |
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Investing Sr. Associate
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| freeye, after applying online with firstrade they told me they weren't going to let me have the 100 free trades. according to them that offer had expired in april. sorry i didn't post a follow up on this thread earlier of what had happened. i'm still looking for a broker. |
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| freeye |
| Posted: Wed Jun 01, 2005 12:25 pm Post subject: |
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Investing Manager
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when you do find a broker all of us may still have an interest on how it is going. please keep us in mind.
anyone currently using or thinking of "ameritrade izone" with the $5 trades and willing to give us the benefit of your knowledge and or experience? |
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| Dave Rathbun |
| Posted: Wed Jun 01, 2005 2:55 pm Post subject: |
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CFO
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I'll post a suggestion... depending on how much you have to invest, you can get $7.95 trades for stocks and options (most discount brokers, as I found, offer discounts for stocks but not options) at http://www.harrisdirect.com ... and they are a full service online / offline broker. I am currently a customer, and have been for over five years. The catch: to get that level of commissions you have to have $50K in assets held there. You might not have $50K to invest right away, but if you have IRA accounts that can be transferred they will combine the assets in all accounts to get you to qualify for that level.
If you have less than $50K it's $14.95 a trade. If you have over $100K in assets that your IRA accounts have no fees, even if individual accounts do not reach that level.
If anyone is interested in hearing more about the broker, feel free to send me a private message via this board. If anyone is interested in signing up an account, I can get a referral bonus for getting you started on the process (if you're able to open an account with $5K minimum initial investment). |
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| freeye |
| Posted: Fri Jun 03, 2005 2:04 pm Post subject: |
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Investing Manager
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i'm not 100% sure i know what i'm looking for when it comes to a broker but i think i'll know it when i see it. if that makes any sense.
my first thought is i really do not want the minimum balance thing to get the lower per transaction fees.
does a no minimum low tranction fee broker exists?
one reason being when they need to get more assets they just raise the minimum, plus... the having to transfer assets thing why do it if you don't have to.
i realize i may be looking for something that doesn't exist.
appreciated the post d.r. and will keep it in mind. |
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