Ask Terry Questions Need a discount broker

Need a discount broker

By Terry Savage on March 02, 2018 |

Hello, I was wondering if there was a platform I could use that wouldn't break the bank when purchasing stocks and mutual funds? I know you previously mentioned stockpile as an option but the reviews were pretty bad for that site.

Terry Says

Well, Stockpile is designed for gifting small amounts of money to children and grandchildren, allowing them to pick stocks and buy fractional shares.  For that purpose, it's great.  But you can't set limit orders.  And purchases are grouped together and made at a fixed time during the day.  That's not efficient for adults who want to invest --and particularly for those who want to trade. For that purpose, I'd suggest opening a discount brokerage account at T. D. Ameritrade, or at Schwab, or Fidelity, or Vanguard.  All offer trading in real time and at very low commissions.

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