Selling stocks without a broker

I've had good experiences with E-Trade. There's also Sharebuilder, TS Ameritrade, and others.

 

<div class='quotetop'>QUOTE(maggieddd @ Mar 4 2007, 07:42 AM) [snapback]399887[/snapback]</div>

I don't actually know the answer. But look on eBay: If you don't see stocks being offered for sale there, then it's probably illegal to sell stocks except through a broker, because if it was legal people would be doing it.

There are lots of discount brokerages, which charge lower commissions than full-service brokerages, but provide fewer services. Be sure to shop around for one that charges the least for the type of trading you will be doing. If you own one issue that you want to sell, the best brokerage may not be the same as if you have a lot of stocks to sell, or if you plan on doing a lot of trading.

Most big banks have brokerages. If you normally bank at a big bank, you may get a good deal for being a customer, expecially if you have a lot of money or debt with the bank. Wells Trade is part of Wells Fargo, and if the sum of your "financial relationship" with them is high enough, trades are cheaper. And that sum is the sum of all your bank accounts with them plus the sum of all your debt to them. Other banks probably do the same.

 

<div class='quotetop'>QUOTE(maggieddd @ Mar 4 2007, 10:42 AM) [snapback]399887[/snapback]</div>

It is not illegal to sell stock without a broker but it is a major PITA. You will need to follow the instructions on the back of the certificate. Check out the internet brokers or Schwab for low transaction fees.