Online Stock Brokers

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.

Current Online Brokerage Rates
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
4.20%
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
1.75% under $1,000 (2.25% under $10,000)
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,
$4.50 thereafter on balances
above $2,500.

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
 

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