Thinkorswim vs TradeKing: Commissions and Investments 2012
|
|
- Stocks and ETFs: $9.99
- Stocks and ETFs broker assisted: $49.99
- Stocks and ETFs Interactive Voice Response (IVR) Telephone System: $34.99
- Options: $9.99 plus $0.75 per contract
- No-load mutual funds: $49.99
- Treasuries at auction: $25 flat fee
- All other bonds and CMOs, CDs: on a net yield basis
- Futures: $3.50 per contract (inclusive of exchange fees)
- Investment products: stocks, bonds, mutual funds, options, ETFs, bonds, CDs, UITs, futures and forex
- Minimum to open Thinkorswim account: $0 for cash account, $2,000 for margin account
- All Thinkorswim fees
|
- Stocks and ETFs: $4.95 (for stocks/etfs priced over $2)
- Options: $4.95 plus $0.65 per contract (for up to 8 contracts) OR $4.95 plus $0.65 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
|
Thinkorswim vs TradeKing: Pros
|
|
- ThinkOrSwim is now part of TD Ameritrade - one of the largest brokerages in US with many local branches
- No additional commissions on stocks under $2, large-size orders and extended hours trading
- Best trading platform in the industry
- Free virtual trading
- Trader community
- No-fee retirement accounts
- No maintenance and inactivity fees
- Free streaming quotes
- Independent research offered through S&P and Morningstar
|
- 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
|
Thinkorswim vs TradeKing: Cons
|
|
- High commissions
- High margin rates
|
- Additional $0.01 per share on the entire order of stocks priced less than $2
- $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
|
TradeKing vs Thinkorswim: Comparison Summary
Thinkorswim (Thinkorswim Review)
has much higher commissions for stocks and ETFs than TradeKing
(TradeKing Review): $9.95 versus $4.95.
With TradeKing, any no-load mutual fund will cost $10 but at Thinkorswim customers pay $50 for the same mutual fund transactions!
Both companies don't have surcharges on extended hours trading and large orders. TradeKing, however, charges more on stocks under $2.
TradeKing is one of the friendliest
online brokers for beginners, offering lots of learning materials, no charge broker-assisted trades and
helpful trader community. If you are fairly new to investing we strongly recommend TradeKing.
TradeKing and Thinkorswim don't have IRA setup and IRA maintenance fees and are some of the
Best companies for an IRA account.
Both firms offer excellent trading experience. Based on lower commissions (half of those at Thinkorswim!),
TradeKing comes ahead in this comparison and we strongly recommend it to all customers.
Thinkorswim is now part of TD Ameritrade and having account there offers a lot of additional features at no cost. We suggest investors
open account at both firms and enjoy everything they have to offer.
|
|
|
|
|
|
|