Scottrade vs. Sharebuilder vs. sogoinvest?
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Finally an intelligent question. (gives you a star for it)
Ok now then I have looked at ALL THREE and USED two of them.
I'll go with highlites with each one.
Scottrade $7 flat no quibbles has support locations thourogout the US. The ACH transferr wile it takes three days to complete was up and running for me in LESS THAN FIVE MINUTES! Has some good trading but that java web program is a tad bit annoying until you get it set up right. And careful on hitting the enter key on their web pages it will log you out and you have to start over. Despite this annoyance, they have steered me in the right direction with www.amex.com on looking up ETF's and while the kid on the commericals has NO LIFE WHATSOEVER. I do like them and recommend them.
Sharebuilder I went with their month plan and had six free investments they have one of the quickest ACH transferrs on record (one day) and an added bonus is that they allow fractional shares to be purchased and can reinvest dividends from those shares (yes it makes a difference). Problems getting the account transferred was a real PAIN you have to get a medallion stamp and took well over three weeks to finish it all up. Plus they will sell your fractional shares automatically when its transferred (which screws me up on my taxes this year oh well). Their web pages to compare ETF's and whatever are starting to get a little bad and while you get free investments you pay on both the monthly $12 and pay DEARLY to sell them (i think my plan was at 14.95 to sell) for smaller investors this is NOT a good choice.
sogoinvest the one I looked at and started to go with but it was just bad news all around. Their ACH transferrs takes FOUR days to complete. While they sport low brokerage fees $1-3, their handling of ach WITHDRAWLS took over three months to complete and they demanded that you fax in proof of who you are and an actual check (which I do not have just a check card which was a real problem in itself) each and every time you request a withdrawl. I have since long left these clowns in the dust. NOT RECOMMENDED!
Scottrade is a good site. Never heard of sogoinvest.
sharebuilder is much cheaper than the rest of the competitive sites and good for first time traders. a down payment or deposit isn't needed for sharebuilder.
Either you want the best or the cheapest.
You cannot have it both ways.
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