Comparing Online Stock Brokers
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When you compare
online stock brokers that offer online trading through the
Internet, there are a few other factors to consider besides the
commission rates. Be sure to also check the trade execution times, the
minimum amount required to open an account, and any inactivity fees if
you are not planning to trade stocks frequently.
This just in...
TradeStation
has unseated Ameritrade for the Readers' Choice
Awards of 2005. Ameritrade was chosen as the winner of the 2004
Readers' Choice Awards in "Technical
Analysis of Stocks & Commodities" magazine.
If you have suggestions
for other brokerages to be
included in this comparison, please email us at info@online-trading-info.com
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Brokerage
Name
|
Market Trade |
Limit
Trade |
Inactivity
Fee |
Minimum to
Open |
| Ameritrade |
$10.99 |
$10.99 |
$15/quarter1 |
$500 |
| Scottrade |
$7.00 |
$7.00 |
- |
$500 |
| E*Trade |
$9.99 |
$9.99 |
$25/quarter |
$1,000 |
| Schwab |
$14.95 |
$14.95 |
$45/quarter |
$10,000 |
| TD
Waterhouse |
$17.952 |
$17.952 |
- |
$1,000 |
| Brown |
$5.00 |
$10.00 |
- |
$15,000 |
| Harris
Direct |
$20.00 |
$20.00 |
$15/quarter |
$5,000 |
| A.B.
Watley |
$9.95 |
? |
- |
$35,000 |
| Invest
Trade |
$7.95 |
$11.95 |
- |
$2,000 |
| Bidwell (acquired by Ameritrade 1/5/2004) |
$12.00 |
$15.00 |
$50/year3 |
- |
| R.J.
Thompson |
$9.95 |
$9.95 |
- |
$2,000 |
| Wachovia |
$29.954 |
- |
$50/year5 |
No minimum |
ShareBuilder
|
$15.95
|
$19.95
|
|
$4
per investment6
|
| Zecco |
$0 |
- |
- |
No minimum. 10 trades/day, 40/month |
1 If
account balance is less than $2000. Accounts with at least 4 trades in
6 months excluded from inactivity fee.
2 For 0-17 settled trades. Active traders
with a minimum of $500,000 in assets or 30 executed trades over a
rolling 90-day period qualify for $9.95 market and limit orders.
3 Account is active if equity is more than
$10,000, at least one trade per year or $50 margin interest.
4 For 5 or fewer trades per quarter.
Commissions reduced to $11.95 for 48 or more trades per quarter.
5 Fee waived if more than $50 in accrued
commissions or margin interest.
6 Buy stocks automatically on a weekly or monthly basis with the
ShareBuilder plan.
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