Oh and I have 3 stocks now, thank you very much. ;)
I finally bought some WFI, the geothermal heat and cooling company that produces HVAC units. It's a very speculative investment, hoping that ground source HVAC grows sizably in the overall market (w/green emphasis growing who knows?) someday. Hoping WFI will turn into a Trane if that happens...would be nice.
since you have low funds you may want to look into zecco or tradeking. With your limited funds free trades/low trades will greatly increase your returns. both have been good for me. zecco had some issues with covvered calls but I don't think you will use that for a long time.
northgarden made a great point irt the cost basis comment because I don't think it transfers. It probably wouldn't be as big a deal for you though because I think you said you only have 1 or 2 stocks (so far).
Thanks all. I've been looking at Scottrade for a while, but I'll probably check them all out again. Sounds pretty easy, I have no mutual funds, just individual securities in an IRA just for me and in a joint brokerage account w/me and hubby. Should be pretty painless. Thanks again.
u just do know,not a dumb question i didnt know that either until i talked to td myself, but no u could transfer the whole entire account right over stocks bonds etfs margin whatever it is that u own there will b a tie up in securites my account is still open with my holdings in etrade hasnt been switched i think i could sell out of my qid and go cash i put in a order and it wasnt rejected when i called toll free # for helped he stood with me all the way till the was patient and helpful,i emailed etrade at times never got response at all and i was psssed everytime ,so u could transfer the entire account and they give u money for the transfer i got a couple of hundreds to transfer,no fees and easy
Gridiorn, the brokers have a powerful system called ACATS, allows for the transfer of most positions in-kind plus cash in 3 business days or less. Far superior than the old DTC system.
I don't remember this part but ACATS might carry over the cost basis info as part of the transfer. Be sure to print out the tax basis report from E*Trade before initiating the transfer. Will save you time in case basis info don't carry over to your new broker.
Mutual funds are exempt from ACATS and takes longer to transfer due to the dinosaur shell account structure in most MF backshops.
Sorry if too much information.