Wednesday, August 04, 2004 6:15:35 PM
Scottrade vs. Ameritrade.
Yes, I've looked at Scottrade but when I added on the .005 and had extra charges for everything but "market" orders, and since I had no complaints against Ameritrade I stayed with it. I've looked at others and some want only very large accounts, or active, experienced traders, etc.. etc.. I too got a free trade for opening with Ameritrade but it was for only 10 trades at the time. With the 30 they are now offereing, and considering I've been hog tied with GZFX for over a month now, I'd not have to pay for trades for the rest of the year.
Only complaint I've had with Ameritrade, and they do adequately explain why, is when you end up with a partially filled trade at the end of the day, maybe only have 20 shares of a dollar stock to sell or buy, and then have to pay another $11 to complete the transaction the next day. Same true if you are trying to sell, lets say 100 shares at $10 and they only sell 90 of them at that price, after waiting you decide to go ahead and cancel that remaining 10 share transaction and lower your ask to $9.75 just to clean up your board. When they do sell the other 10 shares you are out another 11$.
Yes, I've looked at Scottrade but when I added on the .005 and had extra charges for everything but "market" orders, and since I had no complaints against Ameritrade I stayed with it. I've looked at others and some want only very large accounts, or active, experienced traders, etc.. etc.. I too got a free trade for opening with Ameritrade but it was for only 10 trades at the time. With the 30 they are now offereing, and considering I've been hog tied with GZFX for over a month now, I'd not have to pay for trades for the rest of the year.
Only complaint I've had with Ameritrade, and they do adequately explain why, is when you end up with a partially filled trade at the end of the day, maybe only have 20 shares of a dollar stock to sell or buy, and then have to pay another $11 to complete the transaction the next day. Same true if you are trying to sell, lets say 100 shares at $10 and they only sell 90 of them at that price, after waiting you decide to go ahead and cancel that remaining 10 share transaction and lower your ask to $9.75 just to clean up your board. When they do sell the other 10 shares you are out another 11$.
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