Slightly off the topic... As part of my overall credit/financial repair, I am looking into opening up an investment account with the likes of Charles Schwab or Fidelity. The problem is their minimum opening deposit is more than I have at the moment. Anyone know of good brokerage firm with low initial deposits to set up an account? Thanks PS. If you have an Fidelity account, are the requirements slightly easier to obtain the Fidelity Amex Card?
How much are you looking to initially invest? T. Rowe Price has low initial investments, as well as monthly deductions as low as $50/month for some funds, which still earn APYs equal to those of the higher "minimums". I'm with Strong, but they've stopped new applicants for the monthly deduction option. Even still, I think their initial investments are as low as $1000 or $2500.
If your looking for an account to just trade equities try: http://www.thefinancialcafe.com no min. balance to open a cash account. I've been with them for the past year or so and am very happy. Commisions used to be free. Now they are...I think $2.99 per trade if the trade is under $20,000. Have never had a problem with them. Trades are always fast also. Whenever I requested money out of my account I always got a check within 3 days. See ya
I have been with Fidelity for about five years and they are great. I tried Schwab, but they kill you with fees. Every time you breathe, sneeze, or open your eyes, they charge you a fee.
I'm with Schwab - so far no fees, I closed Fidelity because for me, their fees were more. All I had to do to avoid fees at Schwab was deposit automatically or direct deposit a minumum of $200 per month. I had to have 30k at Fidelity to avoid fees, and I certainly don't have that kind of money.
I have fidelity for my personal account, no fees, but I have had the account for a very long time. CreditWorks uses E-Trade, we love it. Trades are as low as 4.95. www.creditsense.com
