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Best stock brokerage companies for Chinese, Taiwan and Hong Kong citizens in 2010.
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- Stocks and ETFs: $7
- Options: $7 plus $1.25 per contract
- Mutual Funds: 2,800+ for free, $17 for all others
- Investment products: stocks, options, mutual funds, CDs, munis, Canadian stocks, ETFs
- Minimum to open account: $500
- All Scottrade fees
- No inactivity, account maintenance or hidden fees
- No-fee IRAs
- Highest customer satisfaction according to JD Power and Associates
- 450+ local branches
- Great support for beginner investors with massive amount of educational resources
- Margin rates are among lowest of national online brokers
- Online community
- No ACAT fee
- Only $500 minimum to open account
- Additional 0.5% of the principal value commission for stocks under $1
Scottrade is one of the veterans of the discount stock trading and it is a solid, well-established firm with
flat rate trading commissions. We ranked at #1 among
Top Brokerage Firms.
Scottrade keeps customers happy by not charging any unnecessary fees: IRA setup and maintenance fees, account
inactivity fees. It is also a leader in customer service and investor satisfaction according to JD 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).
No IRA fees make the firm a very attractive option for an IRA account.
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.
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- Stocks and ETFs: $9.99 if 0-149 trades per quarter; $7.99 if 150+ trades per quarter
- Options: $9.99 plus $0.75/contract if 0-149 trades per quarter; $7.99 plus $0.75/contract if 150+ trades per quarter
- Mutual Funds: $19.99
- Futures contracts: $2.99 per contract, per side + fees
- Investment products: stocks, bonds, mutual funds, futures, options, ETFs
- Minimum to open account: $1000
- All Etrade fees
- Great trading tools.
- No IRA account fees, no minimums with electronic statements and confirms.
- Minimum to open: $1000 for cash account, $2000 for margin account.
- Banking products: checking, savings, money market accounts, CDs and credit cards.
- Free account transfers.
- High trading costs.
- Extra $0.015 per share will apply to that portion of the order that exceeds 2,000 shares.
- $40 Account Service Fee might be charged each quarter in some rare instances.
ETrade is consistently rated at the top in many investor surveys. In 2009 Online Brokers Survey it got
5 stars in Trading Tools, Mutual Funds, Investing Products and Banking Services.
On the other hand, ETrade.com is much more expensive than many other
stock broker firms we reviewed.
Because of high trading costs and Account Service Fee, ETrade is not a good choice for small investors:
at least 50K account balance or make at least 150 trades per quarter.
Wealthier investors seem to be happy with ETrade services.
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