Ameritrade Apex -Free?

avaritia · #1 (**permalink**) 07-14-08, 06:14 AM

Ok, at the end of this article, I was teased with a way to get a free Apex account at Ameritrade. However, I failed to find a follow up to this. I detest scottrade and I want to transfer my IRA -Apex or no Apex.

http://www.stocktradingtogo.com/2007...l-time-quotes/

StockJunkie · #2 (**permalink**) 07-14-08, 04:20 PM

Apex is free if you make 5 trades for three months consecutive or open an account with atleast $100,000. I think that is how he got it for free.

avaritia · #3 (**permalink**) 07-14-08, 04:54 PM

Well, that's not really free in the context of the article if you have to trade constantly. Ameritrade's site isn't really clear. Do you only have to meet that trade quota every three months or only for the first three months? Also, I don't have 100k sitting around.

Stocktrading101 · #4 (**permalink**) 07-14-08, 11:27 PM

Hi Avaritia, I didn't have $100k either when I wanted Apex status so I want the consistent trading route to get it. In fact, if you make 20 trades or so your first month I would try calling in and simply asking to see if they can't get you Apex status early.

Once I had the status though I didn't need to keep trading consistently, I have had it since (5+ years).

Another idea for you, once you have a few months under your belt you can try calling and seeing if they will lower your commissions. I now pay $7 a trade instead of $9.99 simply because I've been a long term member and I asked.

Hope that helps.

avaritia · #5 (**permalink**) 07-15-08, 11:54 AM

Aha, so you don't have to make 5 trades every three months to maintain Apex status. I mean, I am probably going to buy 5 stocks within 3 months anyways, so easy peasy. I am sold! So long scottrade!

Oooh that is nice, 7 bucks... Maybe I can just ask them to start me off with 7 to entice me to transfer my IRA account ;-) I saw the ameritrade izone for 5 bucks a trade, but I prefer the bells and whistles of apex.

Stocktrading101 · #6 (**permalink**) 07-16-08, 02:12 AM

Quote:

Oooh that is nice, 7 bucks... Maybe I can just ask them to start me off with 7 to entice me to transfer my IRA account ;-) I saw the ameritrade izone for 5 bucks a trade, but I prefer the bells and whistles of apex.

Use both

. For a long time (and I will go back to this setup in the near term future) I was placing all of my trades out of Izone for $5 a trade and kept $100 in my Apex account and used that for all my screens and research. It is truly the best of both worlds.