After doing a lot of research I have narrowed down to firsttrade or scottrade. Which one would you suggest? Mostly I will be (Vanguard funds), sometimes .
I don’t want to open with Vanguard because then I have to only buy their funds in future. They also have min requirements and other fees.

 

  • muncie birder 7:00 am on September 28, 2009

    Scottrade has a pretty decent reputation and their mutual fund trading fees are among the lowest I have seen. Firsttrade is a new one to me. I have never heard of them. My IRA accounts are with TD Ameritrade, and they have proved reliable. Their fees are higher than Scottrade however.

    Here is a thought. You can have as many IRA accounts with as many different mutual fund companies and stock brokers as you desire. The only stipulation is that you can not contribute more than $4000 a year. You can even move them from place to place although the broker you are moving from will likely charge you a fee for the move.

  • Jo Blo 7:00 am on September 28, 2009

    Scottrade or E-trade,,

  • vegas_iwish 7:00 am on September 28, 2009

    Lot of research not needed here. Should mainly be in closed end funds + etfs so any broker fine. Schwab has a lot of no fee funds as well. Vanguard has etfs (Vipers) which are preferable to the funds. Closed Ends sell at a discount to asset value (mostly) while Mutual Funds never do. Feel free to contact for detail.

  • Quixotic 7:00 am on September 28, 2009

    I would go directly with Vanguard. You can always move it to a different fund family.

    Your way, you will have to pay money to Firsttrade or Scottrade. I don’t know what they charge, but I remember Scwab used to charge 1% to warehouse other companies funds. 1% is a pretty heavy drag on your return.