Broker Recommendation

[Scarecrow]

Was with HarrisDirect for several years and very happy.

Now bought out by E*Trade and not so happy. Just not as professional, couldn't get all my historical acquisition data straight, share quantities not downloading accurately into my financial software, slow response to e-mail questions, etc., etc.

Looking for a solid, reliable, low cost on-line broker. Have a $100K+ portfolio and trade 5-10 times per quarter. Any recommendations appreciated.

Thanks.

 

[dawgball]

I use Firstrade for my deep discount broker on stocks. I use OptionsXpress for most of my trades since I mainly trade options. I am looking at TradeStation as well, but I am hesitant because it is software-based instead of web-based. I can save a ton of money on options commissions with them, though.

I thought I had heard several people speak positively about Power E-Trade.

 

[selkirk]

since I am from Canada for the most part use discount/ full brokerages based in Canada.

saying that have had good experiences with TD Waterhouse. which in the US is now Ameritrade.
by the way TD came out with good numbers and raise their div and they own a large percentage of Ameritrade.... own a position (10% a year)


some people on this board also spoke positvely of Scottrade and they have offices also....

would suggest to you that open a couple of account at different brokerages. over time you will find the one that has served you well.

as for etrade sometimes when a problem comes up it is liking pulling teeth to fix it...that is my only complaint about them.

thanks
selkirk

 

[dawgball]

selkirk -- I saw on OptionsXpress' login page the other day that they are now available to trade in Canada. Not sure if this matters to you. Just passing along the info.

 

[selkirk]

Dawgball thanks for the info, will look into it; doing less trades this year than last.

last trade was last week, wrote puts on ipsco on Montreal. July 95 put. price between $5.10-$5.25.

was priced at $107 when I did the put now at $112cdn. went up in the last two days...unsure why. ipsco make steel for pipelines, like the company but concerned about the price...of coarse have said that at $75,85,95,105...ect.

own a small position and have written puts on the company throughtout the year.

finally many of the cdn. brokerage are fair, average in options....CIBC investors edge is the worse, if you trade options with them you are an idiot....I know... :com:

thanks
selkirk

 

[Scarecrow]

Many thanks for the referrals.

Will check out Firstrade, Scottrade and Ameritrade/TD Waterhouse.