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| soma |
 Posted: Sun Jun 12, 2005 11:48 am Post subject: Ameritrade to Scottrade |
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Investing Sr. Associate
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Well, no more Ameritrade for me. I just looked at the Scottrade new site demo and that really clinched the deal. And the $7 trades will make it worth the hassle involved with closing my existing account at Ameritrade, opening a new account at Scottrade, and transfering all my money to it. Well, it's the summer doldroms, so hopefully I won't miss any huge opportunities. 
Anyone else here use Scottrade? |
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| sonicreducer |
| Posted: Mon Jun 13, 2005 4:07 am Post subject: |
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Investing Associate
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| Hrm, the new demo layout looks impressive. Might have to look into it a little more when I get home from work. |
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| soma |
| Posted: Mon Jun 13, 2005 7:04 am Post subject: |
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Investing Sr. Associate
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| I actually recently discovered about a company called Firstrade. Similar pricing, but there isn't a whole lot of information on this company. I'm going to open an account with both brokers to see which one is better. |
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| sonicreducer |
| Posted: Mon Jun 13, 2005 7:34 am Post subject: |
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Investing Associate
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My previous thread in this forum was asking if anyone used Firstrade or had opinions on them. Firstrade and Scottrade were the two frontrunners for me, just due to low cost. I haven't found a lot of information or opinions on Firstrade; and everything I'd heard about Scottrade mainly revolved around their outdated layout and user interface (which seems to be a thing of the past, if the new demo layout stays).
If you're going to open one of each, please post back with your opinions on each. I'm really interested to see the pros and cons of each. Thanks  |
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| sonicreducer |
| Posted: Mon Jun 13, 2005 7:44 am Post subject: |
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Investing Associate
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Actually, I guess a good idea that might work is if everyone who is currently using a broker started an individual thread on them and listed the pros/cons, opinions, thoughts and so on on that broker.
Of course, everyone's needs and wants are different, but it might help to have a clear cut list of opinions on brokers (along with services offered/used) by people who have tried them.
It'd be relatively easy way to find information and compare between several choices, along with getting a 'taste-test' of the broker through someone else's opinion. |
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| soma |
| Posted: Mon Jun 13, 2005 8:21 am Post subject: |
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Investing Sr. Associate
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| I'll try to post in here whenever I get my accounts started. It really stinks that there is so little information on Firstrade online. And their interactive demo still seems to be down. |
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| freeye |
| Posted: Mon Jun 13, 2005 2:22 pm Post subject: |
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Investing Manager
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soma:
i would like to encourage you to post more on your experiences with the online stock brokerage accounts. since i will be interested in your opinion on the positive and negative things you will inevitably find. anything you may provide will be appreciated |
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| lostsoul01 |
| Posted: Mon Jun 13, 2005 4:00 pm Post subject: |
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Investing Sr. Associate
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I use both Scottrade and Ameritrade.
One thing I can recommend is rather than close your account at ameritrade, remove all the money and ask them to "freeze" the account. That way if you ever want to go back, you can. Until then it is held at $0 and no fees are charged.
When I asked them to close my account they offered the freeze, and told me if I came back I'd get a certain number of free trades (I don't remember how many). Maybe they'd make a similar offer for you. |
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| soma |
| Posted: Mon Jun 13, 2005 4:11 pm Post subject: |
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Investing Sr. Associate
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| Thanks for the suggestion. I might just end up doing that (Although I can't imagine going back to Ameritrade. Not a terrible broker, but considering the cheaper alternatives out there, I'm going to have to switch.) |
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| jumbojack |
| Posted: Mon Jun 13, 2005 4:39 pm Post subject: |
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Investing Sr. Associate
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| i just saw the demo, the new interface looks more intuitive that what they had before. i was just reading on another forum, apparently firstrade's interface is much better that scottrade. hopefully we'll be able to see their demo soon |
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| soma |
| Posted: Wed Jun 15, 2005 4:03 pm Post subject: |
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Investing Sr. Associate
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Well, the good news is that the Firstrade demo is up now. The bad news is that it's still just as difficult to figure out which one is better. I like Scottrade's look more than Firstrade, but Firstrade has a great screener that I would love to break in (it has an option to screen for price change % in either the past 4, 13, 26, & 52 weeks. I think the 4 week price change screen would help identify swing trades more easily without having to look through so many charts). Scottrade also has some nice features that Firstrade doesn't have like the price alarms that are oh so easy to set and track. I think that feature would be quite fun to play around with. Then there is the issue of each brokerage's streamer. Both don't seem to have an option to demo them.
Can any Scottrade users comment on the included streamer?
Thanks. |
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| sonicreducer |
| Posted: Wed Jun 15, 2005 6:10 pm Post subject: |
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Investing Associate
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| Very interesting. And yes you're right, it does make the choice just that much more difficult. They both seem like very good choices at the moment. And yes, you're right, that screener does look like it has some nice usable additions. decisions, decisions, decisions... |
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| soma |
| Posted: Thu Jun 16, 2005 5:00 am Post subject: |
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Investing Sr. Associate
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| I just took a closer look at the Businessweek screener, and it appears it does have Rel Performance 1 Day, Rel Performance 1 Wk, Rel Performance 1 Yr, Rel Performance 12 Wk, Rel Performance 18 week, and Rel Performance 26 Wk. Because Firstrade's screener can be replaced with Businessweek's, so I'm leaning more toward Scottrade. Still have to learn more about their streamer, but that shouldn't be too difficult. |
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| jumbojack |
| Posted: Thu Jun 16, 2005 12:40 pm Post subject: |
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Investing Sr. Associate
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so soma, why did you leave ameritrade? i'm looking at a new offer they have for izone. you pay $50/yr and pay $3 for for market or limit orders. anyone wants to take a look at the offer and maybe sign up for this? oh and please report your findings  http://www.izone.com/seattle/ |
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| soma |
| Posted: Thu Jun 16, 2005 2:39 pm Post subject: |
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Investing Sr. Associate
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| In a year, I'm jumping ship and going to I-zone. I believe they require 2 years of experience with an online broker so I have to wait. Although I'm very comfortable with the online brokerage platform, I don't think they would bend the rules for me. |
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