ScottTrade vs. Charles Schwab?

Question

I am a freshman investor with about $2000 ready to put into one of these fine companies and start investing and trading.

Which one would be better for my situation. Charles Schwab sounds sexxy, but I hear scotttrade is way better.

Professional investors- please help!

Thanks

Answer 1

i started with zecco.....still use it, still very happy. only ones with no fee for stock trades, and no minumums.  it took me some time to see that most of my gains were lost to the fees i paid to actually buy stock and sell it....all the others will charge you fees for trading, but compare and see for yourself!

http://friends.zecco.com/r/a7a2877caab81...

Answer 2

I've used Scottrade in the past, but I transferred my account because they did not offer dividend reinvestment (DRIPs), which is essential if you are a long term investor.  I currently use Firstrade ( http://www.firstrade.com/ ).  They are much cheaper than the big name brokers such as Etrade, Ameritrade, and Schwab, so you can enjoy more profits from your stock transactions.  They have excellent customer service and their website is very beginner-friendly as well.  I would definitely recommend them to you.

I would not recommend using Zecco because, first of all, you can't even take advantage of the free trades because they require at a deposit of at least $2,500 for that promotion.  In addition, Zecco has poor customer service and a hard to use interface.

Answer 3

I use Scottrade and am very satisfied.   They are cheaper than Schawb.  But Schawb will provide more investing help.  It depends on whether or not you want to go it alone, or need help.