|
|
TradeKing vs Trademonster
|
Trademonster vs TradeKing: Trading Fees and Investments
|
|
- 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
|
- 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
|
|
|
- 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
|
- Best margin rates
- Selling mutual funds is free
- No inactivity, account maintenance or hidden fees
- No-fee IRAs
- Free trading simulator (virtual trading)
- Lots of learning materials for beginner investors, including webinars
- Very good customer service
|
|
|
- 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
|
- 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 could be a bit hard to master for beginners
|
Trademonster vs TradeKing: Comparison Summary
TradeKing (TradeKing Review) is
much better priced brokerage firm than
Trademonster (Trademonster Review):
$4.95 versus of $7.50 for stock and ETF trades. TradeKing has a $0.01 per share surcharge on penny stocks.
Trademonster, on the other hand, has 1.5 cents surcharge for each share traded during extended hours and smaller
surcharge on penny stocks.
TradeKing is one of the friendliest
stock brokers for new investors: with lots of learning materials, no additional charge for broker-assisted trading and
helpful trader community. If you are fairly new to investing we strongly recommend TradeKing.
TradeKing and Trademonster don't have IRA setup and IRA maintenance fees and are some of the
best brokerages for an IRA account.
Both firms offer excellent trading experience. Based on lower commissions and presence of great online user community,
TradeKing comes ahead in this comparison. You could also open account in minutes at both firms (non-IRA accounts don't have account
closing fees) and see for yourself which brokerage works better for you.
|
|
|
|