As a lot of you know i was switching brokerages well on Jun 26 the first transfer went through. On July 2nd the second transfer went through. Some hiccups along the way but i got a free transfer out of Capitol One.
Now a little on the backstory. I started investing in the original sharebuilder back in 2001 and was very pleased was just want i wanted cheap yet simple. they mad some switches along the way selling out to ING then to capital one this last one made me think i just want something that most likely wont get bought out or sold. As always there is a chance but i think with my new brokerage its very slim.
I decided after Capitol one decided to sell out to switch to Merrill edge. I looked at a few prospects like M1 but the pie idea didnt suit me that well no offense to anyone that has it. i also looked at interactive brokers which looked intriguing but they do have some fees if your account isnt above $100,000. the more i thought about it the more i liked Merrill edge. I already had a checking account with bank of America so to me it made since to go with Merrill edge.
Now that the transfer is complete i have made some trades made some this week with some posts to be coming soon. i had 300 free trades. I was hoping to overlap it and not have that much of wait to get the next batch of free trades but i will have to wait it looks like till Sep is when i will average out for at least 50 free trades a month. really thats all i need but i should qualify shortly after for a upgrade to 100 free trades a month. for these free trades you need for the 50 free trades 50,000 combined in merrill edge and BAC accounts. for the 100 free trades it is $100.000 combined for 3 months.
Some of things i like about merrill edge is the website is easy to use once you know your way around. Trades are very easy to make. they estimate how much dividends you will get in a given year. They show you long term and short term gain for the year and for the life of the stock. You can look at every purchase and dividend reinvestment for long term gains and short term gains and losses.
Maintain over $50,000 combined balances allows you access to market pro or 15 trades a month. Lots of extras like extended market hours which lets you trade pre and post market.
Lots of good stuff with Merrill edge and i have saved a bunch in fees as i would not have been able to make all these trades with out these.
Find the brokerage that is right for you though.