I am a beginner... thanks
jake2011 said:
Brokerage is at Merrill, pay zero in commissions as long as you hold a very size minimum balance with them.
this makes no sense, why would they provide a core service for free? a $10MM brokerage account that pays no commission is worth less than the account that only has $1,000 but pays $8/trade.jake2011 said:
Brokerage is at Merrill, pay zero in commissions as long as you hold a very size minimum balance with them.
jake2011 said:Football&Finance said:this makes no sense, why would they provide a core service for free? a $10MM brokerage account that pays no commission is worth less than the account that only has $1,000 but pays $8/trade.jake2011 said:
DBrokerage is at Merrill, pay zero in commissions as long as you hold a very size minimum balance with them.
are they charging you an asset based fee? is the "very sizable minimum balance" in a sweep/deposit product? is it leveraged (i.e. are they getting interest income on a margin loan)?
No asset based fee and doesn't require leverage. Just have to keep $25K in combined BofA checking and Merrill cash sweep to get 30 free trades per month and $50K combines gets you 100 free trades per month. My checking is at BofA too so pretty easy for me to do.
also much less painful application process for beginners and those switching over....5-10 minutes and you are done...in addition they are much less restrictive in making you earn level 2,3 etc access to options/futuresSlackerAg said:
The interesting thing about TastyWorks' pricing is that you could buy a bunch of shares at $5, and then slowly "fade out" of the position since closing trades are free.