Topic: Discount Brokerage - National Discount Broker |
Some of you may know I have been looking for another place to trade online. I am currently with SureTrade. They have their problems and limitations one of which is not being able to enter trade in decimals and they don't allow 64ths. Last Friday I discovered another limitation; they will not allow you to place a limit order for more than 20% of current price on a sell order! This sucks, JMO!
I just got word from a friend who uses NDB and you can place limit orders as you please! Another friend tells me you can place your trade in decimals if the stock traded in decimals. If it trades in fractions then you are stuck on that particular trade and will have to use fractions. However, I have only a couple that trade in fractions and being able to trade in decimals will save untold dollars over the course of time!
NOW, I am sure NDB, is not without their fair share of discontented clients either. But, THERE IS NO SUCH THING AS THE PERFECT DISCOUNT BROKER! Let's be realistic about this point. But, I am told they do try to keep their customers happy.
The only possible draw back to them is they require a 2,000.00 dollar of assets either stocks or cash to open the account. Once opened there is no base balance requirement. AS I UNDERSTAND IT. If I am wrong someone please correct me.
So far what I have found out leads me to believe that the good out weighs the bad. I would appreciate hearing from anyone who has had really serious problems and has closed their account if you are out there please share your experience with us.
As of now I am inclined to setup an account. I think more than one account is wise as well. Then use each of them to the best advantage on your trades.