brokerage account
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brokerage account Wanted to get some thoughts from any club that uses a direct investment program instead of an online brokerage account. We currently use TD Ameritrade and have been pleased with them, but are thinking of checking into a cheaper alternative. Our club is very small in size and so we tend to buy in small denominations (typically < $1000 per trade) so the $10 commission can really add up for us. Any information of good or bad experiences would be helpful for us in making our decision. Thanks. Dear Colby, I'd recommend you check into the offer E*Trade is making to bivio clubs for $5 stock and options trades. They are a full service online broker and they also offer checking so you wouldn't need a separate bank account which can add costs. You can find out more about it here: E*Trade Special Offer for bivio Clubs From our perspective, we do not see clubs having questions or issues with their E*Trade accounts. I've also used them personally in the past and been very satisified. Laurie Frederiksen Invest with your friends! www.bivio.com Become our Facebook friend! www.facebook.com/bivio Follow us on twitter! www.twitter.com/bivio Click here to Subscribe to the Club Cafe email list. Click here to Unsubscribe On Mon, May 14, 2012 at 1:13 PM, Colby T. Lancelin wrote: Wanted to get some thoughts from any club that uses a direct I don't know about direct investment programs but there are cheaper brokerage firms such as TradeKing for $4.95. I would say that most clubs trade monthly under $1000, my club does $625.00 a month.
John
From: Colby T. Lancelin <mpacatlanta@gmail.com> To: club_cafe@bivio.com Sent: Mon, May 14, 2012 10:13:11 AM Subject: [club_cafe] brokerage account Wanted to get some thoughts from any club that uses a direct investment program instead of an online brokerage account. We currently use TD Ameritrade and have been pleased with them, but are thinking of checking into a cheaper alternative. Our club is very small in size and so we tend to buy in small denominations (typically < $1000 per trade) so the $10 commission can really add up for us. Any information of good or bad experiences would be helpful for us in making our decision. Thanks. The problem is that the E*Trade discount is only good for one year then it goes up to the regular price which is what they are paying at TDAmeritrade.
Open a new Investment Club account at E*TRADE and receive this special offer:
4. This offer applies only to new E*TRADE Securities Investment Club accounts. For E*TRADE Securities accounts (except retirement and custodial), an account minimum deposit of either at least $500 in cash or a deposit of securities is required within 60 days of account opening for the account to remain active. Accounts that do not meet the minimum deposit requirement will be closed after 60 days and will no longer be eligible for the offer. You will pay $5.00 for stock and option trades (plus 75¢ per options contract) for 12 months after your account is opened. After the first 12 months, standard commission rates will apply unless at least one member of your investment club opens and maintains a separate E*TRADE Retirement account before the end of the 12-month period.
John Rice
From: Laurie Frederiksen <laurie@bivio.biz> To: club_cafe@bivio.com Sent: Mon, May 14, 2012 10:54:47 AM Subject: Re: [club_cafe] brokerage account Dear Colby, I'd recommend you check into the offer E*Trade is making to bivio clubs for $5 stock and options trades. They are a full service online broker and they also offer checking so you wouldn't need a separate bank account which can add costs. You can find out more about it here: E*Trade Special Offer for bivio Clubs From our perspective, we do not see clubs having questions or issues with their E*Trade accounts. I've also used them personally in the past and been very satisified. Laurie Frederiksen Invest with your friends! www.bivio.com Become our Facebook friend! www.facebook.com/bivio Follow us on twitter! www.twitter.com/bivio Click here to Subscribe to the Club Cafe email list. Click here to Unsubscribe On Mon, May 14, 2012 at 1:13 PM, Colby T. Lancelin wrote: Wanted to get some thoughts from any club that uses a direct Thanks Laurie. I will definitely look into that. Would cut our commissions in half and still give us access to a full service broker. No one has mentioned FolioFN - they have deal with BI - I believe a club gets free trades with them if you use the window trade times - if not the fees are nominal and about half what TDA and E-Trade charge - check it out with BI. Here's the web site for FolioFN: https://www.folioinvesting.com/ If you search the Club-Cafe messages and/or the BI Discussion list you'll find multiple mentions of clubs using this broker. Later, Bob
Your club will continue to receive the $5 trades from E*Trade after the first year if at least one of your members maintains an IRA account with them. Laurie Frederiksen Invest with your friends! www.bivio.com Become our Facebook friend! www.facebook.com/bivio Follow us on twitter! www.twitter.com/bivio Click here to Subscribe to the Club Cafe email list. Click here to Unsubscribe On Mon, May 14, 2012 at 2:36 PM, John Rice wrote:
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