All things STOCKS

#16,032
#16,032
Go aeiou said:
Best online brokers?
I thinking about opening a 2nd account by moving assets from Vanguard.
Click to expand...

I’ve had accounts at Schwab, Fidelity, and E-Trade.

It depends on what your needs are. I almost exclusively use an iPhone and Schwab is by far the best for me. E-Trade doesn’t show the cash position on the same screen as the stocks which is annoying.

E-Trade also only displays 30 days of history (again, this is on the iPhone app). E-Trade was also requiring me to transfer uninvested cash to their cash management/banking side in order to get a competitive rate instead of having an automatic sweep with a competitive interest rste.

For the best margin interest (borrowing) rates, Interactive Brokers is the best. I think the interest they pay on uninvested cash might be the best as well.

There are also a couple of newer online brokers like RobinHood and WeBull (?). They don’t offer all of the services.

I’d strongly recommend Schwab. At least unless/until E-Trade gets their **** together (Morgan-Stanley bought them a couple of years ago).

Fidelity would be my second choice.
 
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#16,033
#16,033
I do have a personal bias of preferring to do business with public companies and mutual companies. Fidelity is privately owned by the Johnson family. It’s one of the largest private companies in the country along with Koch, Mars, SC Johnson, Publix, Cox, and Cargill.
 
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#16,036
#16,036
Thunder Good-Oil said:
I’ve had accounts at Schwab, Fidelity, and E-Trade.

It depends on what your needs are. I almost exclusively use an iPhone and Schwab is by far the best for me. E-Trade doesn’t show the cash position on the same screen as the stocks which is annoying.

E-Trade also only displays 30 days of history (again, this is on the iPhone app). E-Trade was also requiring me to transfer uninvested cash to their cash management/banking side in order to get a competitive rate instead of having an automatic sweep with a competitive interest rste.

For the best margin interest (borrowing) rates, Interactive Brokers is the best. I think the interest they pay on uninvested cash might be the best as well.

There are also a couple of newer online brokers like RobinHood and WeBull (?). They don’t offer all of the services.

I’d strongly recommend Schwab. At least unless/until E-Trade gets their **** together (Morgan-Stanley bought them a couple of years ago).

Fidelity would be my second choice.
Click to expand...
Thunder Good-Oil said:
I’ve had accounts at Schwab, Fidelity, and E-Trade.

It depends on what your needs are. I almost exclusively use an iPhone and Schwab is by far the best for me. E-Trade doesn’t show the cash position on the same screen as the stocks which is annoying.

E-Trade also only displays 30 days of history (again, this is on the iPhone app). E-Trade was also requiring me to transfer uninvested cash to their cash management/banking side in order to get a competitive rate instead of having an automatic sweep with a competitive interest rste.

For the best margin interest (borrowing) rates, Interactive Brokers is the best. I think the interest they pay on uninvested cash might be the best as well.

There are also a couple of newer online brokers like RobinHood and WeBull (?). They don’t offer all of the services.

I’d strongly recommend Schwab. At least unless/until E-Trade gets their **** together (Morgan-Stanley bought them a couple of years ago).

Fidelity would be my second choice.
Click to expand...
How about Schwab's fees?
 
#16,037
#16,037
Go aeiou said:
How about Schwab's fees?
Click to expand...

There aren’t any fees for most of their services (other than management fees in their own branded funds).

The Schwab ETFs have low management fees. Not as good as Vanguard funds, but very competitive none the less.

The interest that they charge on margin loans is not very good, but that only applies to a minority of account holders. Margin loans might be used by traders/investors as leverage but they could also be utilized by investors that want to pull out some cash without having to liquidate some holdings at the same time.

Their fees on option contracts aren’t the best IIRC, but again that wouldn’t apply to most account holders.
 
#16,038
#16,038
Thunder Good-Oil said:
There aren’t any fees for most of their services (other than management fees in their own branded funds).

The Schwab ETFs have low management fees. Not as good as Vanguard funds, but very competitive none the less.

The interest that they charge on margin loans is not very good, but that only applies to a minority of account holders. Margin loans might be used by traders/investors as leverage but they could also be utilized by investors that want to pull out some cash without having to liquidate some holdings at the same time.

Their fees on option contracts aren’t the best IIRC, but again that wouldn’t apply to most account holders.
Click to expand...
No margin. At 5% don't mind Fed MM. No options.
Stocks, etf's, CDs for me.
SIPC coverage is too low. If one firm fails I'd still have the other. The only way I see to get more coverage?
Hopefully two firms don't fail at the same time. Computer hacking?
 
#16,039
#16,039
Go aeiou said:
No margin. At 5% don't mind Fed MM. No options.
Stocks, etf's, CDs for me.
SIPC coverage is too low. If one firm fails I'd still have the other. The only way I see to get more coverage?
Hopefully two firms don't fail at the same time. Computer hacking?
Click to expand...

I think that SIPC limits by institution apply to exact account owners. So each spouse can have an insured account as well as a joint account. But I don’t worry about those things. The assets aren’t supposed to be commingled so it would take a failed institution coupled with fraud and asset recovery efforts that come up short.
 
#16,040
#16,040
Thunder Good-Oil said:
I think that SIPC limits by institution apply to exact account owners. So each spouse can have an insured account as well as a joint account. But I don’t worry about those things. The assets aren’t supposed to be commingled so it would take a failed institution coupled with fraud and asset recovery efforts that come up short.
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80 % of my $ is in a SEP-IRA. I became self employed at 33, and could put $40k/year in it. So no way to put that in wifes name without withdrawing and paying the tax.
OTOH I'll look near the end of year, and withdraw until I hit an undesirable tax bracket.
I have to start taking RMDs in 2 years(roughly 4% in first year)
 
#16,041
#16,041
Go aeiou said:
80 % of my $ is in a SEP-IRA. I became self employed at 33, and could put $40k/year in it. So no way to put that in wifes name without withdrawing and paying the tax.
OTOH I'll look near the end of year, and withdraw until I hit an undesirable tax bracket.
I have to start taking RMDs in 2 years(roughly 4% in first year)
Click to expand...
Are you age 71?
 
#16,043
#16,043
Go aeiou said:
72 in Feb, 24.
Ha, time flies.
I think I will have to start next year.
Vanguard will make me. I've moved money to CDs to take care of that.
Click to expand...
Yes, I occasionally help a brother in that same age range. Born in summer of 1950.

Think he had a couple of near misses with Vanguard, but the government keeps extending the date. People are living longer. :)
 
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