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** Must Read ** - Before you choose an online broker for trading, you must read this highly informative article Online Discount Broker Comparison Tips, to help you make a more informed choice.
 Ameritrade is an Online Discount Broker established since
1975. They charge low, flat-rate $10.99 commissions on all Internet
equity trades, including stop and limit orders. They also provide
access to powerful tools that help you make informed decisions and
allow you to place trades with ease.
Ameritrade has recently announced that it is buying TD Waterhouse, the stockbroking arm of Toronto Dominion. It is speculated that this "mega broker deal" was in response to an unsolicited takeover offer by one of Ameritrade's toughest competitor, E-Trade. It is yet to be seen how the TD Waterhouse deal will materially impact Ameritrade and its services and operations, especially in the market making sector of the stock trading business.
Investment Choices
- Stocks
- Mutual Funds
- Options
- Exchange Traded Funds (ETFs)
- Bonds
Commissions*
- Internet - $10.99
- Interactive Voice Response (IVR) Telephone System - $14.99
- Broker Assisted
- Market Orders - $24.99
- Limit Orders - $29.99
Trading Tools
- Ameritrade Streamer
- Advanced Analyzer
- Quotescope
- Command Center Screen
- SnapTicket
- Trade Triggers
Comments
Ameritrade is a very suitable broker for investors who are new to
the markets and do not trade in and out of stocks very often. The
commission structure for stocks is very cost effective for investors
who have made up their mind about certain stocks and intend to purchase
the stock "at one go" as it will cost only $10.99 in commissions whether
one buys (or sells) 100 shares or 10000 shares. If you are the type
that likes to "accumulate" shares in 100 share lots, then the
commissions can add up substantially and what you may be looking for is
a broker who charges on a per share basis like Interactive Brokers.
Ameritrade offers basic level 1 quotes (i.e. bid, ask, last done,
change) for FREE and this feed can be used by charting programs such as
QuoteTracker to offer a robust real-time intraday charting solution.
They also offer a very reasonably priced Nasdaq level 2 quotes at $9.99
for investors who like to get a feel for the market depth for a
particular stock.
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