Bank of America Reviews

Mark on December 29, 2008

• Rating

Amongst the bad layout of this site lays a complex commission structure that varies depending on the account type held by the client, all accounts are subject to a $50 semi annual fee, but certain accounts can benefit from zero commission fees on some trades.

A very basic service is offered for contact, the only option found on the site is a phone service, although this does operate 8am until midnight, Monday to Friday and 8am until 9pm on Saturdays.

A service to highlight is the broker assisted trades option, but for those wishing to trade alone tools can be found in the form of research and analysis, market commentary, news, company profiles, alerts and quotes – again basic assistance comparing to some other sites and their benefits.

Possibly the strongest factor within the sight is the security section – it is displayed that methods are used to keep information and accounts secure, and the section includes an in-depth privacy policy and a great deal of tips for the user.

OnlineBrokerReview on January 7, 2009

• Rating

Registration - D
Trading - C
Charts - B
Research Tools - C
Commissions and Fees (Pass/Fail) - Pass, for those that qualify for $10 stock trades, do not trade options and are exempt from paying the general account fee

The registration process needs a major overhaul and trade execution and research tools are nothing special. Commissions and fees vary widely depending on a number of factors. Bank of America Investment Services is just not ready for prime time.

For my detailed review of BOA and other online brokers please visit http://onlinebrokerreview.blogspot.com