Online Brokerages
Article Submitted By: BestCashCow
Online stock brokers are very competitive, increasingly offering discounted commissions in order to attract your money.
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A list of some of the leading brokerages with transaction and margin rates follows. Before opening an account, you should thoroughly review all fees, as these companies make most of their revenue from non-trading activities. More active traders or those with larger accounts will often find that these rates are negotiable.
Current Online Brokerage Rates
| Online Broker |
Equity Commission Rate
|
Option Rate
|
Interest on Uninvested Cash | Margin Interest Rate |
| OptionsHouse |
$3.95
|
5 for $5 or $8.50 + $.15/contract
|
Between 1.50% and 4.00%
|
|
| E*TRADE Securities LLC |
$9.99 online or interactive voice response (plus $45 if broker assisted). Significant additional extended hours charges apply.
|
Standard trade commission rate + $.75/contract ($19.99 for exercise or assignment)
|
7.44%
|
|
| TD Ameritrade |
$9.99 online ($34.99 for voice response and $44.99 if broker assisted). No additional extended hours charges
|
Standard trade commission rate + $0.75/contract ($19.99 for exercise or assignment)
|
0.01% APY on all balances.
|
9% on balances under $10,000. (graduates to 6.25% on balances over $1,000,000)
|
| Zecco |
$4.95 (An additional $19.99 / trade applies if broker assisted). No extended hours trading available.
|
$4.95 plus $0.50 per contract ($19.99 plus $0.75 if broker assisted.) $4.50 for exercise or assignment
|
No interest.
|
7.20% on balances under $50,000; 6.70% on balances from $50,000 to $500,000; 4,70% on balances over $500,000
|
| TradeKing |
$4.95 per trade online or via broker
|
$4.95/trade + $0.65/contract to 8 contracts. $8.95 + $0.15/contract above 8 contracts ($9.99 for exercise or assignment) | None. |
6.50% on balances below $50,000; 5.50% on balances between $50,000 and $250,000; 4.50% on balances over $250,000.
|
| Scottrade |
$7 online
($17 for voice response $27 if broker assisted) |
Standard trade commission rate + $1.25/contract ($17 for exercise or assignment)
|
0.01%
|
7.75% on balances under $10,000 (graduates to 5.25% on balances over $1,000,000)
|
| Fidelity |
$8 to $19.95 for online trade (depending on number of trades and household assets) An additional fee of $35 to $55 is charged for broker assistance (depending on number of trades and household assets). No additional fees are charged for extended hours trades.
|
Standard trade commission rate + $0.75 per contract(Exercise or assignment charged at standard brokerage commission)
|
None.
|
8.575% under $10,000; 8.075% under $25,000(graduates to 3.75% on balances over $500,000)
|
| First Trade |
$6.95 ($16.95 for interactive voice response and $26.95 if broker assisted)
|
$6.95 plus $0.75
|
.10% on balances under $25,000 and 0.25% over $25,000 |
7.750% on balances below $50,000(graduates to 4% on balances over $1,000,000)
|
| Charles Schwab Street Smart Pro |
$8.95 - $12.95 (depending on number of trades per year) An additional $5 for interactive voice response and $25 if broker assisted.
|
Standard trade commission rate plus $0.75/contract.(Standard trade commission rate applies to execution and assignment)
|
Balances can be swept to a money market fund earning 0.60%.
|
8.50% for balances under $25,000(graduates to 6.75% for balances over $250,000)
|
| Options Express |
$9.95 if over 9 trades per quarter, otherwise $14.95.
|
$14.95 minimum or $1.50/contract($14.95 for execution and assignment)
|
None
|
6.25% under $50,000; 5.25% under $100,000 (graduates to 4.50% for balances over $500,000)
|
