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Muriel Siebert Review
Very expensive brokerage house that seems to be stuck in the past
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Muriel Siebert Review: Commissions, Fees and Investments Offered (2012)
- Stocks and ETFs: $14.95 per trade for up to 1,000 equity shares
- Integrated Speech & Touch-Tone Phone: $29.95 for market or limit orders up to 1,000 shares (2 cents per share for each additional share over 1,000)
- Options: $34-$370
- Mutual Funds: $35 per transaction for no-load funds that are not part of the Fund Exchange no-load, no-transaction-fee program
- Corporate Bonds: 100 bonds or more - $2.50 per bond, from 50-99 bonds - $3 per bond, up to 49 bonds - $3.50 per bond; $35 minimum commission for listed corporate bonds
- Foreign securities: $75 + commission
- Investment products: stocks, bonds, mutual funds, options, ETFs
- Minimum to open Muriel Siebert account: $0
- All Muriel Siebert fees
- Muriel Siebert login
Who is Muriel Siebert?
The firm derives its name from its founder, Ms. Muriel “Mickie” Siebert. Popularly known as the "The First Woman
of Finance", Ms Siebert is the face of the company. The 79 yrs old Chairwoman and President of Siebert Financial
Corp, was inducted into the American "Business Hall of Fame". She was the first woman to step
inside the New York Stock Exchange as a member. Muriel Siebert & Co still remains the only female-owned brokerage
firm on the NYSE.
Muriel Siebert Trading Tools Review
Muriel Siebert trading tools are just alright: they do all the basic stuff well but they lack in sophistication,
customization and wealth of features offered by many other discount online stock brokers.
The firm also does not offer advanced stock screening and charting tools that make investment research much easier.
Muriel Siebert Pros
- Good customer service
- Free dividend reinvestment
- No account inactivity fees
- Low margin fees
Muriel Siebert Cons
- Very high trading commissions for all investment products
- 1.5 cents per share surcharge for each additional share over 1,000
- $30 annual fee for IRAs with under $10,000 balance
- Outdated and not intuitive website design
Muriel Siebert Review 2012 Summary
Muriel Siebert & Co., Inc has one of the highest trading
commissions on all investment products of all discount online stock brokers we reviewed.
Its trading costs, website (Siebertnet.com) and trading tools design are more reminiscent of
1999 rather than 2012. The company seems to be stuck in the past and not realizing that the industry has
moved on.
Muriel Siebert has very good customer service and provides customers with access to independent research.
The firm seems to be targeting more affluent investors but it falls behind in client services to competitors,
like
optionsXpress
or
TradeKing.
Muriel Siebert has no surcharges for penny stocks and extended hours trading. But it does have the highest surcharge
of all brokerage firms on large orders: 1.5 cents per share for each additional share over 1,000.
Muriel Siebert was rated The Most Expensive firm for frequent traders by Barron's magazine in 2010.
Because of very high commissions, we can't recommend Muriel Siebert brokerage for any kind of account.
There are much better online brokerage houses
that offer more to their clients without charging so much in commissions and fees.
Muriel Siebert
Reviewed by Brokerage Review on
.
Rating: 3
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