Schwab vs. Fidelity

Adobe acrobat
Jun 18, 2018 7 Comments

I’m looking for a brokerage to do free trades of any stock or ETF in a Roth IRA account. So all that I care about is:
- should provide Roth IRA account
- free trades of any stock, ETF
- high yield money market funds with low expense ratio where I can park cash

I do not care about the brokerage’s index funds or ETFs. I already use Vanguard for those.

Merrill Edge is a great option as they provide 100 free trades per month for a balance over $100k but I’m not eligible as I don’t have a green card yet.

If Robinhood offered Roth IRA accounts then that would be great, but they still don’t.

Schwab and Fidelity both give 500 free trades for 2yrs, every year if I bring in $100k.

If anyone knows of better options than these, please add in comments 🙏

38 VOTES SELECT ONLY ONE ANSWER
VOTE VIEW RESULT

comments

Want to comment? LOG IN or SIGN UP
TOP 7 Comments
  • Google fried🐙
    So you are going to open a Roth with 5.5k and then day trade the shit out of it? Seriously?
    Jun 18, 2018 5
    • Adobe acrobat
      OP
      Try more like 60k per year - heard of mega backdoor Roth?
      Jun 18, 2018
    • Google fried🐙
      Yeah, in which case I go through my employer’s 401k provider, in order to withdraw to the Roth every two weeks.
      Jun 18, 2018
    • Adobe acrobat
      OP
      Same here but that limits me to like the 10 funds in the plan. I can take more risk than just index funds since I’m several decades from retirement.
      Jun 18, 2018
    • Google fried🐙
      Well the thing is the only way I’ve transferred IRAs is via ACATS transfer which costs $50 and takes like a week. Also there’s a rule about how many Roth withdrawals/rollovers you can do (1/yr) but I don’t remember the exact limitations.
      Jun 18, 2018
    • Google fried🐙
      Also I would just buy the lowest cost fund possible and take the risk elsewhere. If you’re just looking to avoid cap gains though I don’t have any ideas. 😄
      Jun 18, 2018
  • Fidelity Investments UnluckyMRC
    I work for Fidelity but can't answer these. Don't think I'm getting charged for the etfs I'm in under my brokerage or R IRA accounts and as an employee I already get their highest tier of benefits. Sorry brah
    Jun 19, 2018 0