[BliliBoopsy]

Fee free atm access is nice Fidelity would be where i'd go when I get to the point I need one, probably, but I'm not by any means an expert.

Or I might go with AG Edwards, since their office is downstairs... they're affiliated with one of the major groups, I forget which.

[vRmy0Fzg]

Where's pchang when you need him?

[CesseOveldset]

Can't you do most of that through Sharebuilder?

Personally, I have two BuyandHold accounts (one taxable and one Roth IRA) and a separate Ameritrade account for when I want to buy options, sell stocks short, etc.

[Tw1anJOO]

How do you rate Ameritrade, though?

[JackieC]

And here I thought I was opening some fun competition thread.

[BUMbaronos]

Vanguard has the lowest management fees by far, don't they? They certainly used to. Their fees for index funds were especially low.

[KellyMP]

Schwab

[ordercigsnick]

Another question:

Could I open a checking account at Etrade but do all my mutual funding and such at Fidelity?

[Enfotanab]

But would it be costlier than sticking with one?

[medshop]

Thanks. Now back to making financially disasterous decisions.

[freflellalafe]

Yup.

I just don't see the point of opening a saving account with the interest on the checking being higher.

[Stetbrate]

Both Fidelity and Chuck are good. Ameritrade and Etrade are not safe during financial distress.

Scottrade has very cheap commission, but it fleeces you through market making.

[gennickhif]

Originally posted by DaShi
Other than that the savings has no minimum amount required for the interest rate. But 5k isn't that hard to put in a checking let alone a savings. Unless you don't have $5k

[thierabess]

Originally posted by snoopy369


Unless you don't have $5k Well, I don't think many people with less than 5k would really be setting up savings accounts.

[engideNedmupe]

Originally posted by DaShi


How do Ameritrade and Etrade become unsafe? Ameritrade and eTrade do not have the financial reserves of Fidelity or Schwab. If they hit a rough patch, they may go under or get bought out. This might interrupt access to your funds, but FDIC and SIPC insurance would prevent you from losing your funds (unless you have over $100,000 in any FDIC account or $100,000,000 in any SIPC account).

[Heopretg2006]

Easy.



Chuck for president!


Spec.

[MegaJIT]

except that I like Vanguard better than Fidelity.

[AbraroLib]

When those BBB rated brokers (IB, Etrade, and etc) go under, your assets may very likely be trapped. When multiple creditors fight for the same piece of assets, things can get ugly, as many Refco customers had experienced in 2005.

FDIC is all but a sham: they can let you wait up to 7 years to get your principal back, and if there is major inflation in between, good luck to you.

Fidelity represents the ultmate safe brokerage house because:

1. Its main business is money management, which unlike banks never carries fixed obligations to its customers, and money management is a damn low-risk high margin business.

2. Fidelity doesn't carry any debt. A debt free company cannot go bankrupt.

3. Fidelity is a privately owned company, and is never forced to grow or meet Wall Street estimates. That means it can be managed conservatively and doesn't have to dabble in risky businesses in order to grow. Etrade wanted to grow at any price, went into the mortgage business, and met their demise there.