Selecting a Brokerage account
The Wall Street Journal had a nice article on Opening Your First Investment Account.
- Don’t just open your account with anyone offering you a free IPOD.
Although free IPOD’s are great, its not necessarily in your best interest. - Figure out how much hand-holding you require.
Do you need to go full-service[full commission] or discount brokerage? - Will you be buying securities or mutual funds?
Most brokerages charge different amounts for these and some are cheaper for one while being more expensive for the other. - Are there account minimums or extras for opening an account?
Basically look for junk fees.
Here are some related posts:
- Why your stock broker will always be richer than you.
- Bank of America Investment Accounts
- Discount brokerage offering $100
- Opening a new brokerage account I recently found out that if you open a new account with TD-Ameritrade[formerly TD Waterhouse, Ameritrade and Datek], with $2000 you get 15 free trades. You can do this even if you have an existing account[according to their customer support]. If you deposit $25,000 they'll give you 25 free trades......
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- Got A Free IPOD TDAmeritrade had a promotion sometime back. If you open an account and put a certain amount of money into it, they'd give you a free Ipod. I had already put that exact amount into the account 2 weeks before so I called up and asked if they'd send me a......
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