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Thread: Brokerage Account Referrals & Newbie Info

  1. #1
    Paratrooper_Rick is offline
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    Thumbs up Brokerage Account Referrals & Newbie Info

    I promised I'd research the referral process for any of you interested in switching from Hells... I mean Wells Fargo ... ING Sharebuilder ... or any other brokerage into TD-Ameritrade.

    Here's the deal: I can refer anyone interested - and if you accept it - you will get $100 plus free trades for 30 days

    This should be done in a reliable way to protect each of you from solicitation - so if you are interested - add me as a friend here in the forum and we can set it up really easily. That will protect your identity from those lurking in the shadows in here...

    In order to do the referral - I'll need your name and email address.

    If you ARE new to trading - This is my attempt at saving you the months of anguish I endured under both Wells Fargo/Wells Trade and ING Sharebuilder.... each of whom charge you fees for large orders and in some cases an exhorbitant amount of money just to trade a penny stock (34.95 at wells)

    All the fees at TDA are a flat 10 bucks. No extra fees or large order fees. Plus you'll get free trades for the initial signup.

    Disclaimer: I am NOT a representative of TDA - this is simply my way of helping out any of you interested in taking advantage of the same things I use daily. I wish you all the best luck and look forward to the names/emails so we can get things rolling.

    ~rick

    p.s. feel free to use this thread to discuss your experiences - both positive and negative at ANY brokerage - so others may learn. Even TDA... although they are nearly perfect IMHO....

    also: here is the current offer you will receive:
    Special offer: free trades and $100 cash
    When you open and fund your account with $2,000 or more by
    September 30, 2009, you'll receive commission-free Internet equity trades for 30 days. And if you fund your account with $25,000 or more, you'll also get $100 cash.*
    Last edited by Paratrooper_Rick; 04-04-2009 at 04:34 PM.

  2. #2
    Paratrooper_Rick is offline
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    Just another quick note:

    Anyone interested - I'm limited to how many people I can refer at a time. Here is the notice on the referral site:


    Refer a Friend

    Before you tell us about your friend, we need to give you key information about this program:

    * You can refer up to three friends per day and a maximum of 30 friends within a 10-day period.
    * You can't refer the same person more than twice within a 90-day period.
    * You may not refer yourself.
    * Your friend must be of legal age in his or her state of residence.
    * In order to receive the offer you've selected, your friend must open and fund an individual or joint (non-IRA) TD AMERITRADE account within 90 days of your submission.

    Again - good luck to all of you regardless of who you decide to use.

  3. #3
    GoHerdGreg is offline
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    Joined: Mar 2009 Location: WV Posts: 314
    As you know, Rick, I am also moving over from ING/Sharebuilder (which is good for getting your feet wet) over to TD Ameritrade. I can't wait to take advantage of all the really cool features they offer.

    Just opened my TDA account last week, and am waiting for ING to ever-so-slowly move my stuff AND charge me $75 for the favor.

  4. #4
    buddylee is offline
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    I opened my TDA account on 1/16/03 and have been very happy with their tools and service. I came over form BuyandHold.com which was ok for how often I traded at the time. But as Rick said you won't ever look back, for once I found that the grass was actually greener.
    Live long and Profit!

  5. #5
    Demian is offline
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    Quote Originally Posted by Paratrooper_Rick View Post
    Here's the deal: I can refer anyone interested - and if you accept it - you will get $100 plus free trades for 30 days
    Isn't that the same deal that they offer every new customer - and that is advertised on TV and on their website? You don't need a referal to get that offer...

    What do they offer you per referal?

    Anyone considering a new broker, should also consider Think Or Swim....

  6. #6
    Paratrooper_Rick is offline
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    Quote Originally Posted by Demian View Post
    Isn't that the same deal that they offer every new customer - and that is advertised on TV and on their website? You don't need a referal to get that offer...

    What do they offer you per referal?

    Anyone considering a new broker, should also consider Think Or Swim....
    for giving a referral - you can get one of the following:

    10 free Internet equity or options trades
    $100 Cash
    $100 Shell Gift Card

    I have no idea what various other offers are out there.... most of them do offer some form of free trade -

    Haven't looked at Think or Swim - but if it's better than TDA or Wells - the newbies should at least check it out. I just know that when you start investing - all the offers/choices are confusing -

    Hoping to cut through the fog a bit and make it easier to decide.

    The day my Wells Fargo account closed was a serious high point in my last year. With 20 bucks for standard trades PLUS large order charges PLUS 35 bucks for penny stock trades - I felt like I was drowning in fees. Sharebuilder was by far better - but no 4 decimal trades - and they still had large order charges. Other thing I hated about sharebuilder was that they would only let you invest in their "selection" of stocks - in other words you couldn't trade any one you wanted.

    I've heard good things about scott trade and e-trade. I hope someone with those accounts decides to post in this thread to educate us all....

  7. #7
    mcmaverick is offline
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    Scottrade

    I am with Scottrade and have been satisfied. You can open an account with $500 and trade for $7 a trade. There is an additional charge of 1/2% on the principal for trades on stocks that are under $1.00.

    Example for a SIRI trade I made in March: I bought 2000 shares at $.33 for $660.00 - the commission was 1/2% of the $660.00 ($3.30) plus the $7 for a total commission of $10.30. Total cost was $670.30 or $.33515/share. You can trade in 4 decimals also.

    They will cover up to $100 in transfer fees with some restrictions and if you are referred, you and the person referring you get 3 free trades. You can fund your account in the traditional ways plus use "Money Direct" which is directly linked to your bank account. If you are trading stocks under $4/share, then you have to wait 3 days for the money to clear - you can trade any stock over $4/share immediately.

    If you would like to know more about them or want a referral, send me a message with your email address and I'll be glad to help with what I can.
    Last edited by mcmaverick; 04-05-2009 at 09:35 AM. Reason: added info about 4 decimal trades

  8. #8
    Demian is offline
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    Quote Originally Posted by mcmaverick View Post
    I am with Scottrade and have been satisfied. You can open an account with $500 and trade for $7 a trade. There is an additional charge of 1/2% on the principal for trades on stocks that are under $1.00.

    Example for a SIRI trade I made in March: I bought 2000 shares at $.33 for $660.00 - the commission was 1/2% of the $660.00 ($3.30) plus the $7 for a total commission of $10.30. Total cost was $670.30 or $.33515/share.
    Scottrade is not a good broker for trading SIRI....

    That .005 charge on stocks under $1 is a total rip off and none of the other brokers charge that - as far as I know....

    Look at it this way......

    Say you had 100,000 shares of SIRI and it's trading @ .99 and you did one roundtrip intraday trade and broke even on the trade.......

    Your total commission for the day would be $1,004 - plus the SEC fee on the sale...

    Total scam......

    If you traded SIRI with only just one roundtrip trade a week, your trading fees would eat up your whole principal in less than 2 years.

    There are other negatives about Scottrade too -

    No mobile trading apps available and their mobile website sucks...

    Their charts totally suck.....

    A friend of mine and I have both had nightmare customer service with them in the past....

    Their website goes down a lot.......
    Last edited by Demian; 04-05-2009 at 11:44 AM.

  9. #9
    mcmaverick is offline
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    Quote Originally Posted by Demian View Post
    Scottrade is not a good broker for trading SIRI....

    That .005 charge on stocks under $1 is a total rip off and none of the other brokers charge that - as far as I know....

    Look at it this way......

    Say you had 100,000 shares of SIRI and it's trading @ .99 and you did one roundtrip intraday trade and broke even on the trade.......

    Your total commission for the day would be $1,004 - plus the SEC fee on the sale...

    Total scam......

    If you traded SIRI with only just one roundtrip trade a week, your trading fees would eat up your whole principal in less than 2 years.

    There are other negatives about Scottrade too -

    No mobile trading apps available and their mobile website sucks...

    Their charts totally suck.....

    A friend of mine and I have both had nightmare customer service with them in the past....

    Their website goes down a lot.......
    WOW! Otherwise than that, it's great!

    I guess I can only say:

    I've been using them for over two years and their website has never been down during trading hours that I have been aware of (and in my office, I have a screen dedicated just to it and I am on it 5 days a week, all day long). It certainly could of been down when I was out of the office, I guess, though. It has been down on a few times on weekends for scheduled maintenence

    If, as you suggested, a person is trading $100,000 worth of penny stock every day or every week, then the fees aren't for you. If you trade more like myself, with penny stocks and regular stock mixed in and make 5 to 15 trades a week, it is fine.

    I can (and have) made several trades using my phone with their mobile website.

    The "Scottrade Elite" has more charts and info than I am smart enough to use but maybe lack something that I am not aware of. I have it for Level II and it is quite sufficient. If you are an "expert" trader, then maybe you want something different - I am not in that category by any means.

    I have had 3 "issues" that I needed customer service for in the past 2 years - 2 caused by me and one by them. I called my local office and was very satisfied with their service - it was prompt and courteous.

    So anyway, the bottom line to me is.......it has worked great for me but to each his own - that's what makes the world go around!

  10. #10
    Paratrooper_Rick is offline
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    Istockmanager

    Just when I think everything is good enough with TDA - I decided to upgrade my phone this weekend - and .....

    Lo and behold.... the TDA IstockManager App works on my new Blackberry Curve!!

    It's the coolest app I've played with that is related to stocks.... I can trade right from the phone as easy as if I was on my desktop computer... and the quotes info kicks serious @$$ --

    So if any of you are looking for mobility - it's seriously worth looking into...

    Good luck to us all this week....

    ~rick

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