topic Re: Any Bank Discount Brokers Better than Merrill Edge and Wells Trade? in Personal Finance

Any Bank Discount Brokers Better than Merrill Edge and Wells Trade?

BronzeTrader — Fri, 25 Nov 2016 15:02:44 GMT

I like to invest with self-directed discount brokers. Now I get free trades with Merrill Edge and Wells Trades. I'm happy in general, but just wonder if there is anything else.

I want to stay with bank based discount brokers, with low or no cost trading. I also want the banking, and possiblly credit cards if they offer.

Right now, I'm not ready to go with full service wealth management and pay them about 2% fees.

Re: Any Bank Discount Brokers Better than Merrill Edge and Wells Trade?

wasCB14 — Sat, 26 Nov 2016 06:18:59 GMT

TD Bank + TD Ameritrade, maybe?

Re: Any Bank Discount Brokers Better than Merrill Edge and Wells Trade?

BronzeTrader — Sat, 26 Nov 2016 20:21:42 GMT

@wasCB14 wrote:
TD Bank + TD Ameritrade, maybe?

Yes, but still behind the BA+Merrill Lynch.

Re: Any Bank Discount Brokers Better than Merrill Edge and Wells Trade?

wasCB14 — Sat, 26 Nov 2016 21:13:13 GMT

Capital One, as well. Not saying it's better, but it fits your criteria.

I personally see no need to do "one stop shopping" and have fairly little overlap between brokerage, checking/saving/deposit, and credit card accounts. I use Fidelity as my primary brokerage account.

Re: Any Bank Discount Brokers Better than Merrill Edge and Wells Trade?

BronzeTrader — Sat, 26 Nov 2016 22:22:08 GMT

@wasCB14 wrote:
Capital One, as well. Not saying it's better, but it fits your criteria.

I personally see no need to do "one stop shopping" and have fairly little overlap between brokerage, checking/saving/deposit, and credit card accounts. I use Fidelity as my primary brokerage account.

If you maintain enough $$ at one firm, you get plenty perks, such as BA, Chase and CitiGold.

I have a large account at Fidelity for years. But each time I have to pay $7 to trade. Not much, but I'm not happy. I get free trades at BA/Merrill.

Re: Any Bank Discount Brokers Better than Merrill Edge and Wells Trade?

wasCB14 — Sat, 26 Nov 2016 22:37:04 GMT

@BronzeTrader wrote:
@wasCB14 wrote:
Capital One, as well. Not saying it's better, but it fits your criteria.

I personally see no need to do "one stop shopping" and have fairly little overlap between brokerage, checking/saving/deposit, and credit card accounts. I use Fidelity as my primary brokerage account.
If you maintain enough $$ at one firm, you get plenty perks, such as BA, Chase and CitiGold.

I have a large account at Fidelity for years. But each time I have to pay $7 to trade. Not much, but I'm not happy. I get free trades at BA/Merrill.

Or, alternatively, move it around and churn the accounts (which doesn't have to involve churning the actual securities) for cash, free trades, and miles. Those are more useful to me than premium banking perks.