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Ameritrade for Dummies

Aug 2, 2000
Review by  
Rated a Very Helpful Review

Pros:e-mails alerts, low cost per trade

Cons:outdated software, not user-friendly

Have you ever felt you were getting a really good bargain and then realized you get what you pay for? That is the way I feel about Ameritrade.

I chose Ameritrade because I had a few thousand sitting in the bank not earning much. I wanted to try gambling with picking stocks. Well I looked at DLJ Direct, E-Trade, ect. but could not afford $20 trades. (By the way that adds $40 to each stock- buying and selling.) Ameritrade was then offering 25 free trades. I jumped on it not knowing it was for just a month.

So I've used Ameritrade for about 6 months and buying and selling - the nuts and bolts of the service is OK. But I wish it had a better online portfolio - they only tell you how your stock is doing today, not from date of purchase! Morningstar has as excellent one for free! The software needs to be jazzed up to the Year 2000. They need better research and stock tips. The stock screener is too complicated! MSN has a much better one for free!

On the better side, Ameritrade has great e-mails for stock alerts, you get a great portfolio sent at the end of the week.

I would recommend Ameritrade for beginners, cheapskates, and those who only have a few pesos to invest. I love trading stocks. I also feel good about spending $8-$13 per trade instead of $20. Just get your research elsewhere.

Recommend this product? Yes

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