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Online stock brokers are very competitive, increasingly offering discounted commissions in order to attract your money. A sample 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.
|
Bank
|
Equity Commission Rate
|
Option Rate
|
Interest on Uninvested Cash
|
Highest Margin Rate (Rates are
lower with higher balances)
|
Your Comments |
| E Trade Bank |
$12.99 online or interactive voice response
(rate plus $45 if broker assisted)
|
$12.99/trade + $.75/contract
|
10.24% on balances under $50,000
(9.24% under $250,000)
|
||
| Ameritrade |
$9.99 online
($34.99 for voice response and $44.99 if broker assisted)
|
$9.99/trade + $.75/contract
|
Less than 2%
(money can be
swept into a money market fund through the Reserve funds
yielding 3%)
|
11.00% on balances under $10,000
(10.75% under $25,000)
|
|
| Scottrade |
$7online
($17 for voice response $27 if broker assisted) |
$7/trade + $1.25/contract
|
10.50% under $10,000
(10.25% under $25,000)
|
||
| Fidelity |
$8 to $19.95 for online trade
|
Base equity rate plus $0.75 per contract
|
Less than 2% |
$11.075 for balances under $10,000
(10.575% under $25,000)
|
|
| First Trade |
$6.95
($16.95 for interactive voice response and $26.95
if broker assisted)
|
$6.95 plus $1.25
|
2.25% for balances
under $10,000, 2.50% for balances from $10,000 to $25,000
and 2.75% for balances over $25,000. |
9.75% for balances under $50,000
|
|
| Charles Schwab |
$9.95 - $12.95
(An additional $5 for interactive voice response
and $25 if broker assisted)
|
Base equity commission rate plus $0.75
|
Balances can be placed in a money market fund earning
4.80%. |
10.75% for balances under $25,000
10.25% for balances for $25,000 to $50,000
|
|
| Options Express |
$9.95 if over 9 trades per quarter,
otherwise $14.95.
|
$14.95 minimum or $1.50/contract
|
Under 2% |
8.75% under $50,000
|
|
| Zecco |
10 free trades/month, Below $2,500 it's $4.50 per trade. (An additional $19.99 if broker assisted). |
$4.50 plus 0.50 per contract
($19.99 plus $0.75 if broker assisted) |
Less than 2% | 10.50% | Your Comments and Questions |
| Bank of America |
$0 for up to 30 trades per calendar
month for account holders maintaining over $25,000 in
eligible Bank of America products ($5 to $14 thereafter)
|
N/A
|
Less than 2% |
Not disclosed on website
|
