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Cheapest stock brokers: $1 (one dollar) stock trades
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Many people are asking me if there are brokerage firms that charge
$1 or less to buy/sell stocks/ETFs. And my answer is "Yes". Stock broker commissions came
down a lot during the last decade. Competition among
Best Online Stock Brokers is
intense and that means low prices and huge savings in trading costs for investors
who are willing to shop around and transfer their account to another company.
There are, in fact, a few discount brokerage firms where you could buy and sell stocks
for one dollar. Let’s take a look at the cheapest stock brokers:
ChoiceTrade is the best overall option among these online brokers. It charges just $0.005 per share with $1 (yes, one dollar)
minimum commission. With that rate all orders of up to 200 shares will cost you $1!
Read full: ChoiceTrade Review.
Interactive Brokers commission is the same as at ChoiceTrade: $0.005 per share with $1
minimum for SMART routed orders. You have to keep in mind additional
costs though: Interactive Brokers will charge $10 per month if your trading
commissions are less than $30 per month. Total inactivity fees could be as high as $240 per year.
Read full Interactive Brokers Review.
One obvious problem you see with these brokerage firms, is that the higher the number of shares in the order, the higher will be your
commission. 500 shares will cost $2.50, 1,000 - $5, 3,000 - $15 and so on. That's why a lot of people have another account at a differemt
brokerage firm where commissions are flat-rate, regardless of number of shares.
With only $3.95 flat-rate stock commission,
OptionsHouse is one of the top choices for active traders and day traders looking for flat rate commission account to make larger
trades that will be too expensive with per-share plan.
Read full Optionshouse Review.
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