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OptionsXpress vs TradeMonster
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- Stocks and ETFs: $8.95
- Options (active traders): $12.95 for up to 10 contracts, $1.25/contract for over 10 contracts
- Options (non-active traders): $14.95 for up to 10 contracts, $1.50/contract for over 10 contracts
- Mutual Funds: $9.95
- Bonds: $5 per bond, $9.95 minimum
- Futures: 1-40 contracts $6.99; 41-100 contracts $5.99; 101-300 contracts $4.99; 301-1,000 contracts $3.99; 1,001 + contracts $2.99
- Options on Futures: 1-40 contracts $12.99; 41-100 contracts $8.99; 101-300 contracts $7.99; 301-1,000 contracts $6.99; 1,001 + contracts $5.99
- Covered Calls: $22.90 up to 10 contracts
- Penny Options: 1-10 contracts $4.95 flat; 10 + $0.50/contract
- Spreads, Straddles & Combos: 2-10 contracts - $12.95 Flat (active traders) $14.95 Flat (non-active traders); 10 + contracts - $1.25/contract (active traders); $1.50/contract (non-active traders)
- Investments: stocks, options, mutual funds, bonds, futures, options on futures, covered calls, ETFs
- Minimum to open OptionXpress account: $0 for cash account, $2,000 for margin account
- All OptionXpress fees
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- Stocks and ETFs: $7.50
- Stocks and ETFs broker assisted: $22.50
- Options: $0.50 per contract (minimum $12.50 for single leg orders and $15 minimim per spread for multi-leg orders)
- Futures: $1.50 per contract
- Options on Futures: $1.50 per contract (excluding exchange fees, NFA fees, overnight and platform fees as applicable)
- Mutual Funds: $15 to buy, $0 to sell
- Bonds: $15 (Municipal, Corporate, Agency, Treasury)
- Investments: stocks, options, mutual funds, bonds, ETFs
- Minimum to open TradeMonster account: $2,000
- All TradeMonster fees
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- Best customer service
- Many well-designed trading tools and cutting-edge trading technology
- Free streaming quotes
- $100 bonus for opening new account
- No fee IRA accounts
- Great research
- Free paper trading
- No money down to open new account
- Free account transfers
- Free instructor lead online classes
- Free broker-assisted trading
- Free dividend reinvestment (contact customer service)
- No platform fees
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- Very good margin rates
- Selling mutual funds is free
- No inactivity, account maintenance or hidden fees
- No-fee IRAs
- Free trading simulator (virtual trading)
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- Higher than average commissions on stocks and ETFs
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- Additional 1.5 cents per share surcharge on extended hours trades
- Additional $0.0005 per share on the entire order for any stocks priced less than $1
- Trading tools are not intuitive and could be hard to master
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TradeMonster vs OptionsXpress: Comparison Summary
Trademonster (Trademonster Review)
offers better commissions on stocks and ETFs than
OptionsXpress (OptionsXpress Review):
$7.50 versus $8.95 per trade.
TradeMonster charges additional 1.5 cents per share for extended hours trades and smaller surcharge on penny stocks.
OptionsXpress offers better customer service and research amenities. Both brokerage firms provide free
virtual trading environment, which is great for beginners who need to improve their skills as well as for
more advanced investors who want to test new strategies without a risk.
TradeMonster and OptionsXpress don't have account maintenance fees, hidden fees and annual IRA fees.
We rated OptionsXpress as one of the
Best IRA Companies in 2012.
Both of these online brokers are great. We strongly recommend OptionsXpress for beginners, IRA accounts and buy-and-hold investors.
TradeMonster is clearly a better choice for more active investors and traders.
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