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Thread: Investing websites

  1. #1
    Featured Member Katherine's Avatar
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    Default Investing websites

    Ok, wanting to invest. Already have a post out, here's the next question:

    Through what website?

    My ROTH and SEP IRA's are with Templeton funds. As I bought them through my bank, M&T, I use their brokerage website to check up on my funds. Even though they call themselves a 'discount' brokerage, their fees are astronomical!!!

    All my business associates who have lots of investments all use brokers. I don't want to go that route.

    My boyfriend's roomate is an amazing investor, and she uses Schwab. Although she warned that there are better prices out there. What I didn't like about Schwab is the fees for international investing. As that's something I'm definately interested in, I don't want fees to hinder me.

    I also looked into e-trade, but they had certain fees that didn't make sense to me.

    Melonie, and all who do their own investing- what site do you use? And why?

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    God/dess Emily's Avatar
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    Default Re: Investing websites

    http://www.stripperweb.com/forum/showthread.php?t=58670

    it's a pretty good thread.

    I like Fidelity. They have low fees too.

  3. #3
    Featured Member Katherine's Avatar
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    Default Re: Investing websites

    Thanks for the link Em- but I read every post and it does not contain an answer to my question.

    Fidelity does look good. Although I suprisingly had the opportunity to get an answer from a professional today.

    I am about to start a relationship with a guy at a large private bank. We are set up for a lunch meeting this coming week. I left him my cell number with the instructions to 'call anytime, it's my business cell' in regards to confirming the lunch. Not only did he call today to confirm, but to see if I wanted to go with him to the Yankee game this afternoon. Sitting in his co's AMAZING seats (I'm in love with Derek's ass!!!!!). As I've been a Yankee fan since- oh, before I could breathe- I went. !!!!!! Even though we lost->

    He told me Scottrade, hands down. I went to the website and there's a page that compares it to some other sites. Here:

    http://www.scottrade.com/online_brok...comparison.asp

    I like it. I was gonna come back here and see if anyone posted anything I haven't checked out yet, but this is the best so far. I'm going to set up an account on monday!! (I'm meeting with my accountant on monday morn regarding my max cont to my SEP account. If I haven't reached it yet, I'm taking care of that before investing in more aggressive funds.)

  4. #4
    Banned Melonie's Avatar
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    Default Re: Investing websites

    I personally use two different brokers. For stocks which can easily be bought and sold on US and Canadian exchanges, I use online discount broker TD Ameritrade. Actually, I have no particular love for Ameritrade over the other online discount brokers ... any of them that offer low commissions plus limit orders would serve the purpose ... but I started out with Ameritrade years ago and haven't bothered to go through the hassle of switching to a different online discount broker for the very few dollars in commission savings that might be possible.

    For stocks traded on Asian and 'emerging market' stock exchanges, and for most options trades, I use full service broker Wachovia. Again any full service broker would probably fill the role, but I started out with Wachovia (then Prudential) years ago and haven't bothered to switch for the very few dollars in potential savings. Having a full service brokerage account allows me to buy and sell Hong Kong shares of Chinese companies, Indian companies, Thai companies, Spanish companies, South African companies, Arab companies etc. which the discount brokers can't access.

    However, unless you're going to be a serious player in international companies, there are quite a few ADR's of foreign companies now available that can be traded on the US exchanges via the online discount brokers - that can give you a 'taste' of international investing without the expense of a full service broker.
    ~
    Last edited by Melonie; 09-30-2006 at 08:42 PM.

  5. #5
    Featured Member Katherine's Avatar
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    Default Re: Investing websites

    Wow- Mel. Just did a search for "ADR" as I wanted to understand better. That's great. Bank of New York and JP Morgan Chase has access to buying on their sites. I'm loving the B of NY option to search by country. I'm part israeli and love learning about the new technologies coming out by major co's out there. Would love to put some $$$ with those (after I do some more research of course).

    As much as I would prefer to get into international affairs, a third of both my IRA's are invested internationally, and I can't imagine learning not only about new companies, but new economies too. I'm going to stick close to home while I'm new. But the ADR thing looks good for me too test the waters with...

    Thanks for your input!

  6. #6
    Banned Melonie's Avatar
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    Default Re: Investing websites

    ^^^ any of the online discount brokers can also buy and sell ADR's for you, probably at lower commissions !

    The only serious drawback to trading ADR's versus trading the actual foreign stock on a foreign exchange is that - like a mutual fund - you're not dealing with a 'real time' market price. Usually this doesn't matter at all, but if something 'big' happens to affect a particular foreign stock (like a strike, a court ruling, an indibtment) by the time the US exchanges open up to allow you to trade your ADR's you may have already taken a big 'hit' pricewise compared to being able to sell the shares 6-12 hours earlier at a higher price on the stock's 'native' exchange in Europe or Asia.

    I got 'bitten' pretty badly once in regard to my owning ADR's of a South African Gold Miner that was hit with a worker's strike ... which is what prompted me to start using the full service broker to trade shares directly on the South African exchange. But admittedly this was one incident out of probably 10 different ADR's that I had owned at one time or another prior to going the full service broker / foreign stock exchange route.

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    Veteran Member StuartL's Avatar
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    Default Re: Investing websites

    Before you go overboard with this, if it helps, you might like to think pretty carefully about Bank of New York. They have a huge office here in Brussels and I have about 12 friends that work for them. I also know a couple of people that work for them in London.

    The place is a mess. It is falling apart at the seams. Now admittedly, most of their work is with investment banks, but if you don't have either the staff or capabilities to deal with inv banks properly, I doubt you'll be helping individuals too well.

    I don't want to say anything that may prove to be libelous on here, but you might consider having more than one broker so that you have a backup. Just in case.

    (Mel, if you are planning to do any shorting ... their are good business reasons why BONY might be a nice target to investigate.) ;-)

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    Default Re: Investing websites

    I use TD Waterhouse (Ameritrade). I don't know if they're the best, but I like them enough.

    Feature costumes for sale!

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    Banned Melonie's Avatar
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    Default Re: Investing websites

    (Mel, if you are planning to do any shorting ... their are good business reasons why BONY might be a nice target to investigate.) ;-)
    sounds like buying some cheap , 'out of the money' put options might be in order ! Please elaborate if you are able (but I already smell the stench of rotten derivative exposure on international interest rate spreads ?).

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