StockFetcher Forums · General Discussion · Need to Switch Brokers<< >>Post Follow-up
davesaint86
545 posts
msg #137895
Ignore davesaint86
8/31/2017 8:59:14 AM

I need to switch brokers. Looking at Fidelity versus Schwab. Who wins. Both are offering me 500 trades for two years. Both have commission free trades. Schwab no short term redemption fees. Fidelity only on Ishares held less than 30 days. Fidelity seems to have the better selection of commission free due to ishares. Both have local offices in the town I live in.

c1916
77 posts
msg #137898
Ignore c1916
8/31/2017 9:52:46 AM

Why not both?

If forced to choose, I'd say Schwab, but that's a strictly personal opinion from someone that does have accounts in both places.

davesaint86
545 posts
msg #137901
Ignore davesaint86
8/31/2017 10:24:39 AM

I have a Roth IRA with OptionsHouse, now Etrade. I'm grandfathered in at $2.95 per trade. It might be possible for me to move my money there and get the $2.95 trades.

pthomas215
1,251 posts
msg #137902
Ignore pthomas215
8/31/2017 10:39:25 AM

Take the long term view, which translates into lowest cost per trade. 500 trades blows by fast, and is like retail shops saying 'you get 50% off', after they mark it up 60%. 500 trades hooks you in so you can pay $5+ on an ongoing basis. Even though they are more sophisticated banks, they are still banks...and banks are scumbags. 1. lowest trade cost. 2. trading platform you like the most.

davesaint86
545 posts
msg #137904
Ignore davesaint86
8/31/2017 10:56:04 AM

C1915 - Why do you prefer Schwab over Fidelity?

c1916
77 posts
msg #137907
Ignore c1916
8/31/2017 11:52:24 AM

I prefer the SSE platform and Fidelity does some weird stuff with how they represent margin. I agree with the overall trade costs comments, but if I separate investments from the day trade stuff, I don't have a problem paying $5 in accounts where the trading is less frequent. Again, YMMV.

davesaint86
545 posts
msg #137910
Ignore davesaint86
8/31/2017 2:11:39 PM

Thanks. Decided to go with Schwab since I do not trade frequently.

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