silvermonster

Hey guys. I'm at the point where I am interest in getting into buying stocks.

I'm wondering which brokerage firm do you guys go with? Any suggestion? Thanks.

UnkieTrunkie

I'm in the process of switching over to TD Ameritrade from Morgan Stanley. Let it be said though, that I'm switching money managers from an in-house Morgan Stanley adviser over to an outside adviser, and TD Ameritrade is the new adviser's preferred low-cost broker, so YMMV (and I'll keep you posted if it turns out to be a complete pile of hogwash).

s.hasan546

a lot of people i know have switched to a low cost brokerage like a schawb, trade, scottrade; etc. It honestly doesn't matter as much. Go with who ever is the cheapest and fits "your needs".

Mr Dave

I slightly disagree with that advice.

[DISCLAIMER: I don't know what schawb, etrade, or scottrade do, but I'm assuming you make your own trades]

I've been investing since I was in the 8th grade (paper route money) and I'm now in my late 30's.
I've read textbooks and studied financial systems my entire life as a hobby.
And yet -- I still know NOTHING.

I have a "stock broker" who I've been with for over a decade and his advice is worth every penny of the tiny commission he charges me.
Without him I'd be broke 10+ times over on hair-brained ideas and passionate (as opposed to informed) investing.

Hire someone you trust who can advise you individually. Let him/her guide you as you grow.
Don't be afraid of 'full price' financial advisers...you'll get what you pay for.

ExOdy

I've used schwab, etrade, td, and fidelity. Of all those, I prefer schwab and TD second. Their platforms, mobility, and website were the most easy and comprehensive.

s.hasan546

lets agree to disagree than. I do take advise from a two close friends a Ibanker & a FA.

But for the average person to find a good FA is sometimes difficult. Depending on the firm &/person they can recommend trades that are better for their firm/pocket. I know plenty of people who lost a ton listening to their idiot FAs too. At the end of the day no one has the crystal ball tho.

Mr Dave

Absolutely, good points.

Skeero

I use SureTrader.com and TD Ameritrade. Mainly use TD for their think or swim app. SureTrader is a offshore brokerage, so you can day trade without having 25k. Be careful fees will eat your ass.

UnkieTrunkie

This could be stickied all over the Money & Investing forum.

Don't hesitate about being conservative for that very reason (this is free advice, and worth what you paid).

Iniamyen

Go with whichever will help to provide you with the best returns. For me that's Scottrade, because of the low commission.

The higher commissions of other brokerages essentially eat into your return on investment. If you want to pay for financial advice, I would recommend getting it separately, and not on a per-trade basis. Not only does paying higher commission essentially eat into your returns, but it's a conflict of interest in some cases because the firms try to sell their own investment vehicles over other ones.