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Non-Tech : Best Online Broker

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To: wiley murray who started this subject	7/13/2001 11:44:01 PM
From: wall_st_harvest	of 1296

An Innovative Broker Buy And Hold is a broker that offers an unlimited number of trades for only $14.95 a month. You can choose any stock you want - as long as it's on their list of tradable stocks. This list has 4300 names on it. For many people that's not going to be a big deal. However, this isn't a good solution if you like to invest in very small companies. Another potential problem is that they restrict the trading to three time frames each day. This might be perfectly suitable for investors or even intermediate traders. However, it obviously is not going to work for short term traders. They're able to offer these commissions because they pool all of their orders for a particular security together. They also have a $6.95 per month plan. Obviously, they're targeting first time investors and people with modest sums to invest. Personally, I applaud them for this. I think that there is a real need in the marketplace for such a firm. Recently, many online brokers have started charging fees for accounts with low balances or inactivity. In contrast, Buy And Hold is bending over backwards to cater to such people. Another very nice feature is the automated investment plan. You can have as little as $20 periodically withdrawn (weekly, monthly or quarterly) from either your brokerage or bank account. This makes implementing a dollar cost averaging strategy incredibly easy. This could be a good solution even for sophisticated investors or intermediate term traders. It solves a problem that everyone faces who doesn't have a six figure portfolio. Namely, how do you achieve diversity while at the same time minimizing your commission costs? Obviously, Buy And Hold has many similarities to the personal portfolios that I wrote about in issue 6 - An Alternative to Mutual Funds. wallstreetharvest.com Buy And Hold buyandhold.com Cheers, Gregg Terry

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