Low commission stock broker recommendation

Discussion in 'Retail Brokers' started by ronblack, Apr 3, 2007.

  1. ronblack


    I plan to open a new account to trade US stocks and looking for brokers that offer the same commission level as IB (0.005 cents per share). I'm not considering an account with IB at this time. The problem I had with them is that when I tried to open a corporate account they asked me proof of address of the corporation, like a utility bill in the corporation name or a lease. Well, the corporation (LLC) is for trading purposes and I use my home address and all bills are in my name. This seems not to make sense to them and I got nowhere talking to them.

  2. jebara

    jebara Guest

    You should have a form saying where your corpoation is domiciled or the mailing address.
  3. Sounds like IB is just doing the kind of due diligence that any reputable broker would.
  4. When I was incorporated in the 80's, the corporation had a bank account. I think that there were also incorporation papers but I'm too lazy to look. Also since the incorporation was in a state the secretary of state had a record of it. Very strange.:confused:
  5. Yeah, go figure.... LLC's have to be renewed every year so you should have something from the state if it is older than a year, if you set it up with an attorney, you should have acceptable legal documents. If you plan to trade in the corporate name, then you MUST have a bank account for it. As IB wont allow you to transfer assets into the account from an improperly named account.

    SO this reasoning sounds lame.

    I have 2 LLC's and 1- C-Corp. I have proof of address for all of them.

    And a Bank account is your easiest bet :)