1. Tesla Model 3 apparel now available!


    Dismiss Notice

What Investing Brokers Does Everyone Use?

Discussion in 'Off topic' started by thredge, Mar 26, 2017.

More threads by thredge
  1. thredge

    Active Member
    Expand Collapse

    Joined:
    Mar 24, 2017
    Messages:
    39
    Likes Received:
    20
    Trophy Points:
    8
    City & State/Province:
    Iowa
    Country:
    Country
    So I haven't done any investing before in funds or markets, and currently trying to learn what I can. With all the people I see talking about their shares of TSLA, I was wondering what Brokers are being used, and any platforms or if some are still going the real person route.
     
  2. Steve C

    Supporting Member
    Expand Collapse

    Joined:
    Sep 28, 2016
    Messages:
    362
    Likes Received:
    237
    Trophy Points:
    43
    Gender:
    Male
    City & State/Province:
    Toronto
    Country:
    Country
    I use BMOIvestorline.

    It's $9.95 per trade and have a few tiers with different benifits depending on the tier.

    Not sure where you are locating though.
     
  3. thredge

    Active Member
    Expand Collapse

    Joined:
    Mar 24, 2017
    Messages:
    39
    Likes Received:
    20
    Trophy Points:
    8
    City & State/Province:
    Iowa
    Country:
    Country
    I'm in the US. Looks like BMO is a Canadian broker then?

    I was considering TDAmeritrade. Seen both positive and negative, but the tools looked nice. Have since learned TD Bank is one of the lenders to the Dakota Access pipeline, so that is providing an additional consideration.
     
  4. MelindaV

    ☰ > 3
    Moderator
    Expand Collapse

    Joined:
    Apr 2, 2016
    Messages:
    3,233
    Likes Received:
    2,221
    Trophy Points:
    113
    Gender:
    Female
    City & State/Province:
    Vancouver, WA
    Tesla Owner:
    Reservation
    Country:
    Country
    last year I started using Robinhood. All app based and 100% free trades, free adding funds and withdrawing funds without any minimums. (plus, they are 3 miles away from Tesla HQ in Palo Alto!)
     
    • Winner Winner x 2
    • Like Like x 1
    • Steve C

      Supporting Member
      Expand Collapse

      Joined:
      Sep 28, 2016
      Messages:
      362
      Likes Received:
      237
      Trophy Points:
      43
      Gender:
      Male
      City & State/Province:
      Toronto
      Country:
      Country
      Yes... BMO is Canadian. Excellent broker for us Canadians. ;) Sorry I don't know any in the US
       
      • Like Like x 1
      • Bobby Garrity

        Active Member
        Expand Collapse

        Joined:
        Jan 22, 2017
        Messages:
        103
        Likes Received:
        59
        Trophy Points:
        28
        Gender:
        Male
        City & State/Province:
        North Massapequa, NY
        Country:
        Country
        Oh my goodness Melinda. Why didn't you tell me about this sooner? The whole reason I don't buy stock is because the commission erodes all of the profits and then some.

        I downloaded it and bought some stock! I can't believe how easy that was! Thank you so much!!!
         
        • Like Like x 1
        • BigBri

          Top-Contributor
          Expand Collapse

          Joined:
          Jul 16, 2016
          Messages:
          506
          Likes Received:
          382
          Trophy Points:
          63
          Gender:
          Male
          City & State/Province:
          Toronto, Ontario
          Country:
          Country
          Pretty sure BMO has a US arm too. I use em too and now that I'm used to it wouldn't want to use anything else. They've been a pretty solid bank too.
           
        • MelindaV

          ☰ > 3
          Moderator
          Expand Collapse

          Joined:
          Apr 2, 2016
          Messages:
          3,233
          Likes Received:
          2,221
          Trophy Points:
          113
          Gender:
          Female
          City & State/Province:
          Vancouver, WA
          Tesla Owner:
          Reservation
          Country:
          Country
          exactly! it doesn't make it silly to buy a single share each day of the week if you wanted. ;)
           
          • Agree Agree x 1
          • AZ Desert Driver

            Well-Known Member
            Expand Collapse

            Joined:
            May 2, 2016
            Messages:
            205
            Likes Received:
            122
            Trophy Points:
            43
            Gender:
            Male
            City & State/Province:
            Tucson AZ
            Country:
            Country
            I was going to endorse Fidelity. They are now 4.95 commission. I've been using their research tools and occasional chat with an Advisor and have been quite happy
            But robinhood? Never heard about the till now. Thanks for that melendav!!
             
          • garsh

            Dis Member
            Moderator
            Expand Collapse

            Joined:
            Apr 4, 2016
            Messages:
            2,725
            Likes Received:
            1,531
            Trophy Points:
            113
            Gender:
            Male
            City & State/Province:
            Pittsburgh PA
            Country:
            Country
            BTW, I strongly suggest that you only invest in stocks for fun. For actual retirement investments, follow this advice:
            1. Make a will
            2. Pay off your credit cards
            3. Get term life insurance if you have a family to support
            4. Fund your 401k to the maximum
            5. Fund your IRA to the maximum
            6. Buy a house if you want to live in a house and can afford it
            7. Put six months worth of expenses in a money-market account
            8. Take whatever money is left over and invest 70% in a stock index fund and 30% in a bond fund through any discount broker and never touch it until retirement
            9. If any of this confuses you, or you have something special going on (retirement, college planning, tax issues), hire a fee-based financial planner, not one who charges a percentage of your portfolio
            For part 8, open a Vanguard account, and put 70% in VTSAX and 30% in VBTLX. These two index funds have much, much lower expense ratios than anything else you can find.
             
            • Like Like x 3
            • Winner Winner x 1
            • teslaliving

              Top-Contributor
              Expand Collapse

              Joined:
              Apr 2, 2016
              Messages:
              496
              Likes Received:
              211
              Trophy Points:
              43
              Gender:
              Male
              City & State/Province:
              Boston
              Tesla Owner:
              Model S
              Country:
              Country
              My Model 3 fund is with Schwab and is just "play" money. Light market timing only on SolarCity (when it existed) and Tesla stock. It's done quite well. I don't trade much and don't need much help. Schwab is well known and works. There are other options that could save a few bucks but for the number of trades it didn't matter for me.

              As @garsh said, defintely get yourself in order with the important things before goofing in the market or wasting money on things that don't last forever like cars.
               
              • Agree Agree x 1
              • MelindaV

                ☰ > 3
                Moderator
                Expand Collapse

                Joined:
                Apr 2, 2016
                Messages:
                3,233
                Likes Received:
                2,221
                Trophy Points:
                113
                Gender:
                Female
                City & State/Province:
                Vancouver, WA
                Tesla Owner:
                Reservation
                Country:
                Country
                Robinhood just started a new signup program that gives you a free share when you add funds to your account. Free stock is randomly selected with a value from $3 up to $150. Check it out if interested...
                 
              • teslaliving

                Top-Contributor
                Expand Collapse

                Joined:
                Apr 2, 2016
                Messages:
                496
                Likes Received:
                211
                Trophy Points:
                43
                Gender:
                Male
                City & State/Province:
                Boston
                Tesla Owner:
                Model S
                Country:
                Country
                Just be aware that the free trading isn't free. They're selling your activity to machine learning algorithms to make automating trading engines smarter.
                 
              • MelindaV

                ☰ > 3
                Moderator
                Expand Collapse

                Joined:
                Apr 2, 2016
                Messages:
                3,233
                Likes Received:
                2,221
                Trophy Points:
                113
                Gender:
                Female
                City & State/Province:
                Vancouver, WA
                Tesla Owner:
                Reservation
                Country:
                Country
                EVERYTHING we do is used to train algorithms.
                 
                • Agree Agree x 1
                • Love it! Love it! x 1
                • teslaliving

                  Top-Contributor
                  Expand Collapse

                  Joined:
                  Apr 2, 2016
                  Messages:
                  496
                  Likes Received:
                  211
                  Trophy Points:
                  43
                  Gender:
                  Male
                  City & State/Province:
                  Boston
                  Tesla Owner:
                  Model S
                  Country:
                  Country
                  No doubt, just saying that that Robinhood is more openly about selling your actions.
                   

                Share This Page

                Model 3 Owners Club © 2017. All rights reserved.
                Model 3 Owners Club (M3OC) is an enthusiast club and is not affiliated with Tesla Motors or the Tesla Motors Club Forum (TMC).
                All Tesla logos are trademarks or registered trademarks of Tesla Motors.