New to USA - what broker for retirement accounts?

S

salvador90

Hello everyone,

Just as the title mentions I'm new to the US and all the parabola of choices regarding retirement investment accounts.

I've been researching but its been a long while since I looked into the american market regarding brokers - other than Interactive of course.

For a retirement account - my wife's to be exact - what broker would you advise?

What is a reasonable price for purchases in stock and such? I've seen everywhere around 7 dollars to around 9.99 dollars which compared to IB seems a bit pricey.

IB for my wife is a no go since they have their 10 USD monthly fee if you don't reach their minimum threshold commission number.

Vanguard looks good since they offer a lot of funds and ETFs which are commission free.

TD Ameritrade offers a list of 100+ funds that are commission free and pretty much covers a big spectrum of the market, including funds from iShares, Vanguard and a few others...

Any other brokers you'd recommend for IRAs, Roth's and such that I may be missing?

Thank you
 
Hello, I am semi retired and I use vanguard(IRA) as well as Merrill Lynch(401K) (bank of america) the choices of investments in vanguard as well as the fees are best in the word. (all depends what you want to do of course). Vanguard is a mutual company, non profit and they are inexpensive. You know if you are a savvy trader/investor how important the cost IS. Always look at the fees!
If you wish to do active trading(i.e. short, options) use IB but that is not even an American outfit, but they have an office on the East Coast. When I quit working (in 4 years) I will transfer my 401K from Merrill to Vanguard as they have a smorgasbord of choices of long short funds, leveraged funds. You can make money that way! My wife's 401K (which I, also manage) is also great, at Fidelity. But the cost (fees) and not comparable to Vanguard.
I hope this helps!
 
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HomelyWizzard said:
Hello, I am semi retired and I use vanguard(IRA) as well as Merrill Lynch(401K) (bank of america) the choices of investments in vanguard as well as the fees are best in the word. (all depends what you want to do of course). Vanguard is a mutual company, non profit and they are inexpensive. You know if you are a savvy trader/investor how important the cost IS. Always look at the fees!
If you wish to do active trading(i.e. short, options) use IB but that is not even an American outfit, but they have an office on the East Coast. When I quit working (in 4 years) I will transfer my 401K from Merrill to Vanguard as they have a smorgasbord of choices of long short funds, leveraged funds. You can make money that way! My wife's 401K (which I, also manage) is also great, at Fidelity. But the cost (fees) and not comparable to Vanguard.
I hope this helps!
More...


+1 for Vanguard
 
Thank you.

I know Vanguard is a really good one... although they only offer their funds for free. How about TD Ameritrade that offers an extensive list of ETFs for free as well including those of Vanguard but also iShares and such?

My idea is that Vanguard for trades other than their funds are really high.

Thanks
 
HomelyWizzard said:
Hello, I am semi retired and I use vanguard(IRA) as well as Merrill Lynch(401K) (bank of america) the choices of investments in vanguard as well as the fees are best in the word. (all depends what you want to do of course). Vanguard is a mutual company, non profit and they are inexpensive. You know if you are a savvy trader/investor how important the cost IS. Always look at the fees!
If you wish to do active trading(i.e. short, options) use IB but that is not even an American outfit, but they have an office on the East Coast. When I quit working (in 4 years) I will transfer my 401K from Merrill to Vanguard as they have a smorgasbord of choices of long short funds, leveraged funds. You can make money that way! My wife's 401K (which I, also manage) is also great, at Fidelity. But the cost (fees) and not comparable to Vanguard.
I hope this helps!
More...
How is IB not an American outfit? Just because it was started by a Hungarian immigrant?
 
I don't know...IB (as well Thomas Peterffy) used to be based in Europe I am sure they got better tax treatment in the US.
JamesL said:
How is IB not an American outfit? Just because it was started by a Hungarian immigrant?
More...
 
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Do you mean to say the commissions on stocks are high for Vanguard? I am not sure if you can split your retirement funds(one for ib one for vanguard) but since I am more of a sector trader than stock picker, I am sure you are right there. Hard to beat IB.
salvador90 said:
Thank you.

I know Vanguard is a really good one... although they only offer their funds for free. How about TD Ameritrade that offers an extensive list of ETFs for free as well including those of Vanguard but also iShares and such?

My idea is that Vanguard for trades other than their funds are really high.

Thanks
More...
 
HomelyWizzard said:
H
If you wish to do active trading(i.e. short, options) use IB but that is not even an American outfit, but they have an office on the East Coast.
More...

Incorrect. IBG LLC is incorporated and based in Greenwich, CT and a bit over 10% of the company is listed on NASDAQ. There are other affiliates around the world but the above statement is wrong.

As for fees, there is a $10 minimum offset against commissions but that is waived for accounts with balances over $100,000.
 
Yes, but that was not always the case, was it? I distinctly remember that ib used to be based in Europe.
def said:
Incorrect. IBG LLC is incorporated and based in Greenwich, CT and a bit over 10% of the company is listed on NASDAQ. There are other affiliates around the world but the above statement is wrong.

As for fees, there is a $10 minimum offset against commissions but that is waived for accounts with balances over $100,000.
More...
 
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