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Optionsxpress vs TradeKing
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Optionsxpress vs TradeKing: Trading Fees and Investments
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- Stocks and ETFs: $4.95 (for stocks/etfs priced over $1)
- Options: $4.95 plus $0.65 per contract (for up to 8 contracts) OR $8.95 plus $0.15 per contract (for over 8 contracts)
- Short options valued at 5 cents or less, can be bought to close these positions for no charge (commission free)
- Multiple legs will only be charged one base price of either $4.95 or $8.95, depending on how many total contracts are involved
- Mutual Funds: $9.95
- Bonds: $4.95 per bond ($14.95 minimum)
- Treasuries: $24.95 per transaction
- Certificates of Deposit (CDs): $24.95 per transaction
- Investments: stocks, options, mutual funds, bonds, CDs, treasuries, ETFs
- Minimum to open TradeKing account: $0
- All TradeKing fees
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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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TradeKing vs Optionsxpress: Pros
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- Great commissions
- No minimums, maintenance or hidden fees
- Free real time quotes
- Award-winning trading tools
- Best rated customer service
- Low margin rates
- Best online investor community
- Fee-free IRAs
- Extensive educational resources
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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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TradeKing vs Optionsxpress: Cons
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- Additional $0.01 per share on the entire order of stocks priced less than $1
- $50 annual inactivity fee if BOTH apply to an account(s):
- Combined account value of the household account(s) is less than $2,500
- No commission-charged trades have been executed in the account(s) during the last 12 months
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- Higher than average commissions on stocks and ETFs
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Optionsxpress vs TradeKing: Comparison Summary
TradeKing (TradeKing Review) offers much lower
commissions on stocks and ETF than
OptionsXpress (OptionsXpress Review):
$4.95 versus $8.95. TradeKing, however, has a $0.01 per share surcharge on penny stocks.
Both companies are extremely friendly to
beginner investors, with lots of learning materials and webinars. OptionsXpress offers free virtual trading for practicing trading risk-free.
TradeKing also boasts thriving and helpful online user community.
OptionsXpress and TradeKing don't have IRA setup and IRA maintenance fees and they are both
recommended brokers for IRA account.
Both brokerages are excellent companies with top notch customer service. Only because TradeKing is much cheaper,
we recommend it over Optionsxpress. You could also open accounts with both firms with no money down
and no obligation (non-IRA accounts don't have account closing fee) and
see for yourself which brokerage would work better for you. $100 free dollars for opening account at Optionsxpress
(use link below) is a great incentive.
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