Best US stock brokerage companies for investing/trading accounts for Chinese, Taiwan and Hong Kong citizens in 2014
|Stocks and ETFs|| $7|
|Stocks and ETFs broker assisted|| $32|
|Stocks and ETFs interactive voice response (IVR) telephone system|| $32|
|Options|| $7 + $1.25 per contract|
|Mutual funds|| 3,000+ commission-free NTF funds, $17 for others|
|CDs, OTC Secondary Corporates, OTC Secondary Municipals,|
U.S. Treasury Bills, Notes, Bonds and STRIPS, New Corporate Offerings
| subject to a markup or markdown|
|Listed Corporate Bonds|| $35 + $3 per bond (minimum investment $1,000)|
|Unit Investment Trusts (UIT)|| $50 liquidation fee|
|Foreign Stocks Transferring In or Out|| $60 per transaction|
- No inactivity, account maintenance or hidden fees
- No-fee IRAs
- #1 in customer satisfaction according to JD Power and Associates
- 500+ local branches for in-person assistance
- Great support for beginner investors with a massive number of educational resources
- Online user community
- Good banking services: savings, CDs, money market and free checking accounts (free ATM withdrawals, VISA check card, and first order of checks free)
- Free real-time streaming quotes and charts
- Free dividend reinvestment for mutual funds (but not for stocks)
- Largest number of mutual funds - over 14,500
- Additional 0.5% of the principal value commission for stocks under $1
- No electronic withdrawals, but you can use a debit card or check. Once you receive checks, you will have the routing number and account number, which you can use to withdraw money via ACH initiated from other financial institutions
Scottrade offers its services to Chinese, Taiwan and Hong Kong citizens and it even provides a chinese version of its website.
Scottrade is a solid, well-established firm in the United States that has been in business for over 30 years. It offers
flat rate trading commissions. We ranked it one of the
Top Brokerage Firms in 2014.
Scottrade keeps customers happy by not charging any unnecessary fees: IRA fees, maintenance and account
inactivity fees. It is also a leader in customer service and investor satisfaction according to J.D. Power and Associates.
Scottrade is an excellent choice for beginner investors, those who invest in mutual funds, and
long-term, "buy and hold" investors (mainly because of no account inactivity charges).
Because Scottrade is a stable, seasoned stock brokerage firm with a very good reputation, it is also
a natural choice for people nervous about trusting their money to newer companies but not wanting to pay
$10+ for trades and multiple fees at other big brokers.
|Stocks and ETFs|| $9.99 ($7.99 if making 150+ trades per quarter)|
|Stocks and ETFs broker assisted|| $34.99|
|Options|| $9.99 + $0.75 per contract ($7.99 + $0.75 if making 150+ trades per quarter)|
|Mutual funds|| $19.99 |
|Futures contracts|| $2.99 per contract, per side + fees|
|Fixed Income||markup or markdown and any transaction fee will be included in the price quoted|
|Forex|| No commissions. Etrade receives compensation through the bid/ask spread.|
|Bonds||$1 per bond (minimum $10, maximum $250) for online secondary market trades. Includes Agency bonds, Corporate bonds, Municipal bonds, Brokered CDs, Pass-thrus, CMOs, Asset Backed Securities.|
|Investments|| stocks, bonds, mutual funds, futures, forex, fixed income, options, ETFs|
|Etrade minimum deposit to open account|| $500 for non-retirement cash account, $0 for retirement cash account, $2,000 for margin account|
and Etrade referral
- No account maintenance or inactivity fees
- Large and well established company
- Powerful trading tools
- No IRA account fees, and no minimums with electronic statements and confirmations
- Low minimums to open accounts: $500 for cash account, $0 for retirement cash account, $2,000 for margin account
- Banking products available: checking, savings, money market accounts, CDs, and credit cards
- No surcharges on large orders or penny stocks
- Great research amenities from S&P, MorningStar, Thompson Reuters, Credit Suisse, and Smart Consensus
- Access to trading on 40 foreign exchanges
- Free streaming quotes
- Very broad selection of products: 8,000 mutual funds, every ETF sold, over 30,000 bonds, securities from 77 international markets, 1,300 no-load, no-transaction fee mutual funds, and 90+ commission-free ETFs
- High commissions on stocks and ETFs
- High margin rates
- $0.005 per share surcharge on extended hours trades (ECN fee) and on trades executed through E*TRADE Pro at an ECN during both regular market and extended hours sessions
- E*TRADE Pro platform is available at no charge only to customers who execute at least 30 stock or options trades during a calendar quarter
ETrade also offers brokerage services to Chinese, Taiwan and Hong Kong citizens and it has chinese version if its website.
Etrade stock and ETF commission is $9.99 per trade, options commission is $9.99 plus $0.75 per contract. Mutual funds are priced much more reasonably at
$19.99 per transaction.
No account maintenance and inactivity fees make Etrade a good option for buy-and-hold investors.
This article was updated on 3/25/2014.