Another NOOB, Broker recommendations?

By pete_h, October 25, 2013

Hi all,
I have been reading here and watching things, paper trading and trying to learn at this late stage in my life. I am 62 and retiring at the end of the year. I am a newcomer to active investing and am looking to get some cash flow out of my investments. Probably dividends and something to hold for a while.

I will have a couple of lump sums to invest and am looking for a brokerage account to put them in, rolled over from those lump sums. So any advise on Scott Trade vs Fidelity et al?

Pete Hanratty
Columbus, OH

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3 Comments on " Another NOOB, Broker recommendations?"

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I know somewhat what Pete Hanratty feels as I have a somewhat similar problem re Brokers. Does Stock Gumshoe have a policy re recommending some. I have one problem common to some of your respondents who want to invest in Australia……..I want to find a broker in US/Canada so I can invest in a couple of companies that I really like the look of. The problems are twofold – I can’t afford a lot of cash to open an account and I don’t know what minimum investment either US Stock Exchanges or Brokers consider. Is there a minimum in terms… Read more »
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Travis Johnson, Stock Gumshoe

We don’t endorse or recommend any specific brokers, but I personally use Interactive Brokers for some of my trading on international exchanges (easy and relatively cheap online trading in Hong Kong, London, Australia, Canada, several other major exchanges, but not as user-friendly an interface as etrade or TDAmeritrade or most of the other discount brokers, IB is really built and priced for active traders), and I also use Fidelity and TD Ameritrade for a lot of my accounts and find them to be perfectly fine.

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David Brown
Scottrade is a discount broker that also has branches with educational seminars on site–I’m sure Columbus where you live (go Buckeyes!) has branches. I switched this year from a more conventional (full service/high commision) broker–Edward Jones to Scottrade and have been very happy with Scottrade. I can educate myself both with their very useful tools and I can get more education at the branch if I so choose. If you are looking at making some big decisions about some lump sums–open an account for free and take advantage of their educational tools before you leap. The other great thing about… Read more »
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