Preference of stock trading sites?

[2QUIK6]

Wondering what everyone's preference is for stock trading sites for those that trade?
E*Trade, Ameritrade, Scottrade, etc

Pros/cons and fees involved?

I've invested in mutal funds for years and the few single stocks I do own I got from reverse convertibles going too low in the past year.
I see alot of short term opportunities I'd like to start tapping into with trading, so just wondering which one every one likes the best.

 

[SS_Sean]

I used to use E trade, and found it a little un-user-friendly. I switched to Ameritrade about 7 years ago and have been very happy with them...

 

[whtT]

I use TD Ameritrade too and really like them. Fees are low, interest on money sitting in the account is decent and the user interface for the website is pretty easy to use. They have a good amount of research tools available if you have an account too.

 

[2QUIK6]

I've looked at all 3 in depth, yes E*Trade looks to be the most confusing.
Scottrade and Ameritrade have a ton of tools, probably more than I'll ever need. Kind of leaning towards the Scottrade since its $7 a trade vs the $9.99 of Ameritrade. Anyone used Scottrade?

 

[87grandnat]

I use fidelity...I like them so far but I think they are on the higher side with fees unless you make 36 trades a year. but there customer service is amazing!

Joshua

 

[gofstbuick]

I switched away from TDameritrade to Scottrade because of their transaction fees. Now I notice that TDameritrade is reducing their fees, probably to be more competative with Scottrade. I won't go back to TDameritrade. Like TDameritrade, Scottrade (and Etrade) is not a full service broker, so you will have to do the research yourself. Also, if a Scottrade customer refers you, you and the customer can get some free trades (I don't know if the other discount brokers have similar offers right now). Something to think about. If you choose another discount broker besides Scottrade, maybe they are offering some type of free trade incentives. So check with the members that post on this thread.

 

[2QUIK6]

I went ahead and setup a Scottrade account. Yeah brokers..what good are they anyway, they usually steer you to investments that give them the most comission anyway. I set it up Friday and xfered money over and bought and sold 5 stocks today already. Got 3 others that didn't reach their limit order. This will at least keep me busy when business slows

 

[2QUIK6]

For ya'll that have traded, are the fees associated with buying and selling the stock deducted off the gains for the determination of short/long term capital gains for taxes??

Say I bought shares for $100 and had a fee of $7, then sold then for $200 and also incurred a selling fee for $7... then the taxable short term gain for taxesd would be (selling price - buying price - buyers fee - selling fee) = 200 - 100 - 7 - 7 = $86 short term capital gain.
Or do the fees not matter and its actually $100 short term capital gain?


The Scottrade gains keeper seems to factor in the buying price as part of the cost basis, but not the selling fee on the proceeds received.

 

[salvageV6]

I've always deducted ALL the fees in determining the cost basis and overall profit.

Never been audited however.

I use E*Trade with no issues, including their banking stuff.