Online Brokers

Online Broker Current Promotions Equity Commission Rate Option Rate / Margin Interest Rate Interest on Uninvested Cash
ETRADE

Reviews (11)

$2,500 in cash with the deposit of $1,000,000 in new assets.   $3,500 in cash with the deposit of $2,000,000 in new assets.

$0 online or interactive voice response (plus $45 if broker assisted). Significant additional extended hours charges apply. ETrade matched Charles Schwab's move to eliminate basic trading commissions on October 7, 2019, but may increase other fees to make up for this revenue loss.

Option Rate:
Standard trade commission rate + $.75/contract ($19.99 for exercise or assignment)
Margin Interest Rate:
8.44% on all balances under $25,000

0.26% APY on all balances.

Ally Invest

Reviews (8)

$3.95 per trade online for those with balances of $100,000.
Option Rate:
$3.95/trade + $0.50/contract for those with balances over $100,000.
Margin Interest Rate:
8.75% on balances below $5,000; 6.75% on balances between $50,000 and $100,000; 4.50% on balances over $250,000.

0

TD Ameritrade

Reviews (7)

$2,500 in cash with the deposit of $1,000,000 in new assets.   $800 in Apple gift cards with the deposit of $300,000 in new assets.

$0 online ($34.99 for voice response and $44.99 if broker assisted). No additional extended hours charges.   In order to match Charles Schwab, TD Ameritrade removed its commission fees on October 4.   However, the so-called "regulatory fees" associated with each transaction increased so that their is now a built-in transaction fee of ranging from $5 to $15 for initiating a transaction.

Option Rate:
Standard trade commission rate + $0.75/contract ($19.99 for exercise or assignment)
Margin Interest Rate:
9% on balances under $10,000. (graduates to 7.00% on balances over $250,000)

0.01% APY on all balances.

Fidelity

Reviews (6)

$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.   Negotiated rates may be as low as $4.90.

Option Rate:
Standard trade commission rate + $0.75 per contract(Exercise or assignment charged at standard brokerage commission)
Margin Interest Rate:
8.575% under $10,000; 8.075% between $10,000 and $25,00.

0

Charles Schwab

Reviews (3)

 

$0 (depending on number of trades per year). An additional $5 for interactive voice response and $25 if broker assisted.

Option Rate:
Standard trade commission rate plus $0.75/contract.(Standard trade commission rate applies to execution and assignment)
Margin Interest Rate:
8.50% for balances under $25,000.

Balances can be swept to a money market fund earning 0.10%.