Compare Online Brokers and Discount Brokers

Comparing online brokers

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When you compare online 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 frequently.
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

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 $9.95 $9.95 - $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/year² -

R.J. Thompson $9.95 $9.95 - $2,000

Wachovia $29.95³ - $50/year⁴ No minimum

¹ If account balance is less than $2000. Accounts with at least 4 trades in 6 months excluded from inactivity fee.
² Account is active if equity is more than $10,000, at least one trade per year or $50 margin interest.
³ For 5 or fewer trades per quarter. Commissions reduced to $11.95 for 48 or more trades per quarter.
⁴ Fee waived if more than $50 in accrued commissions or margin interest.

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