Pros and Cons of using FIRSTTRADE online broker?

Question

Pros and Cons of using FIRSTTRADE online broker?

Answer 1

Here is a list of pros and cons I found from this website:

http://www.slackerwealth.com/2008/06/dis...

Advantages

1. No custodial fees, account minimums or maintenance fees.

2. Good customer service.

3. $6.95 a trade.

4. Easy to use website.

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5. Easy account setup.

6. Easy to make electronic deposits.

7. Wide choice of mutual funds and fixed income.

8. Decent yields on cash.

9. News and research are decent (provided by Standard and Poor's).

10. Free real-time quotes.

11. $9.95 commission for no-load mutual funds.

12. Free dividend reinvestment

Disadvantages

1. No fractional share buying (just as with TradeKing and TD Ameritrade, you get fractional shares when you automatically reinvest dividends).

2. Only one physical location (in Flushing, NY).

3. Electronic deposits have to be $100 or more.

4. $500 minimum for mutual fund investments. Additional mutual fund investments have to be $100 or greater.

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I am currently a Firstrade customer and I am very satisfied with everything.  I would definitely recommend them to others.