Hi Guys,
as the subject indicates, I'm looking to open a brokerage account to trade. I would like to mostly rely on my laptop for this (trading via an app is not really my thing). The starting balance will be lower five figures, so I should make the minimum for most brokerages. My focus will be equities and some fixed income, and a limited amount of options (nothing exotic). After initiating the money, I do not think that I will trade a lot (I see myself doing max 10trades/month). I plan to build a mostly passive portfolio and to combine this with stock picks if I find an attractive investment opportunity. For research purposes, I will be able to access my university's Bloomberg, and besides this will use Yahoo Finance.
From my prior research, I have found that Interactive brokers (low transaction fee, and good system for filling orders) and Fidelity (higher transaction fees, but a large variety of iShares ETFs with no transaction fees) are seen as some of the best brokers.
What are your experiences with these two brokerages? Which one would you suggest, and if none of them which other brokerage do you use? Or are there important caveats that I am missing?
Cheers!
Interested
At poster what extras do you want from a broker? Just cheap and good execution or do you want data/analysis too?
With regards to what I expect, it just depends. Cheap and good execution are the things, that I cannot get via some extra work, so that is most important of course. Things such as portfolio monitoring and some risk analysis would be nice, but it is not needed as I can just quickly program some risk analytics and sensitivities in excel (yes I know volatility modeling in excel sucks, I'm too lazy to dust off my MATLAB).
In the end, there are a lot of nice to have things, but those are not what I will make the selection dependent on (naturally, I will be comparing the nice to have features of the options I have).
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