Advice Needed on Investing Platforms

Water Cooler Investing
#1

For the first time in my career I have excess cash and would like to invest as soon as possible. As the title says, I am looking for advice on investing platforms, does anyone have any recommendations or experiences with online brokerages they can share?

I’ve looked into Interactive brokers and Robinhood. Loooking for low fees and would also like a decent source for research if possible. Please advise

Thanks

#2

I use thinkorswim (TD Ameritrade).

I think they have competitive fees although I am invested in only index funds and is very passive with them.

They have fast services and there are plenty of brances nearby if I ever need a face to face.

#3

I like Interactive brokers.

Gives you a real feel of how the market actually operates.

#4

unless u got 100k, i would not do ib. vangaurd is pretty tight, pretty much low prices all around, juss sign up for e-notifications. fidelity if u want an all-in-one account. ie bank account, retirement, and credit card etc

td ameritrade is pretty good. all around, but it is inferior in some way or another to the previous 3 i mentioned.

#5

why do you say this about IB?

I am looking to start with $10k+ and heard IB would be good for that range

#6

Most discount brokers are one in the same…

#7

10k is fine for IB…

Data charges are mostly free for non-professionals

#8

If this is a one time thing, consider Motif Investing - create a motif (basket of upto 30 stocks) and pay $10 to trade the whole thing. Of course, this won’t work if you want to DCA $500/month.

If you are OK with ETFs only, Schwab, Fidelity and Vanguard for commission-free trades of their own (and select other) ETFs. I like their customer service in the order Fidelity, Schwab, Vanguard, though none is bad.

(I am implicitly assuming that for $10K, you want to minimize trading costs, if not then the universe expands quite a bit.)

EDIT: These choices are in addition to IB, IB will give you the most flexibility.

#9

thank you for the comments. thinking of going with IB as i want to stay flexible with a blend of stocks, ETFS, and maybe some commodity plays

#10

stay in cash cuz, unless u shorting but then Bro has all good shares borrowed already

#11

Interactive Brokers for active trading…anyone that doesn’t recommend IB hasn’t used it…

#12

^ couldn’t agree more with this sentiment