More Free Trades At TDAmeritrade
I recently realized I had a few thousand dollars worth of stock bought on margin in my trading account. The brokerage is charging me over 9.5% interest on that money!!! In the meanwhile, I had money lying in my bank account at less than 1%. I quickly transferred the money into my brokerage account.
I also sent an email to customer report saying that I had opened a new account with $2k in it, I would’ve gotten 10 free trades. Since I was transferring more than that into my account, I’d really really appreciate it if they could comp me a few free trades. I wasn’t expecting them to but they almost immediately comped me 10 free trades. Thats a hundred bucks right there!
While they’re a lot more expensive than Interactive Brokers, their service is far better!
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- 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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October 29th, 2006 at 1:42 pm
I’m wondering whether to close my margin account with Ameritrade once I get fully up to speed with IB – purely because of the high margin rate. I also have a Roth IRA with Ameritrade and will probably hold onto that as the margin issue is not relevant for that. What do you think? Maybe having a couple of trading accounts is useful in case one is down.
October 29th, 2006 at 1:51 pm
i’m waiting to see what the year end reporting is like with IB.
i have a feeling it will suck.
currently i have accounts with multiple brokers. I’m hoping Bank of america’s interface will become on par with TDAmeritrade and i’ll move the TDA portion to it.
TDA is my conservative portfolio. IB is mainly options. if i get comfortable with it i may transfer to it but their interface is terrible.