Get 100 Free Trades & $4.75 Stocks @ OptionsHouse

Muriel Siebert review


3-star brokerage firm rating

Muriel Siebert Review


Very expensive brokerage house that seems to be stuck in the past



Muriel Siebert Review: Commissions, Fees, and Minimum Deposit


InvestmentsCommissions
Stocks and ETFs $14.95 per trade for up to 1,000 equity shares
Stocks and ETFs phone orders $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
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

Investments stocks, bonds, mutual funds, options, ETFs
Muriel Siebert minimum deposit to open account $0
FeesMuriel Siebert fees


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 was the face of the company. The Chairwoman and President of Siebert Financial Corporation, she has been inducted into the American "Business Hall of Fame". She was the first woman to step inside the New York Stock Exchange as a member, and Muriel Siebert & Co. was the only female-owned brokerage firm on the NYSE.


Siebertnet.com Website/Trading Platform/Tools Review


Muriel Siebert review

Muriel Siebert trading tools are adequate but nothing more: they do all the basic stuff well, but lack the sophistication, customization and wealth of features offered by many other discount online stock brokers. The firm also does not offer the advanced stock screening and charting tools that many people consider imperative for investment research.


Muriel Siebert Review: Pros


  • Very low margin rates: from 0.75% above Broker Call Money Rate for balances with $25,000+, and up to 2% above Broker Call Money Rate for balances under $5,000
  • Good customer service
  • Free DRIPs (dividend reinvestment plans)


Muriel Siebert Review: Cons


  • Extremely high commissions for all investment products
  • 1.5 cents per share surcharge for each additional share over 1,000
  • $30 annual fee for IRA accounts with a balance under $10,000
  • $25 inactivity fee for non-retirement accounts where total household balances are under $25,000
  • Website design is outdated and not intuitive


Muriel Siebert Review Summary


Muriel Siebert & Co., Inc levies some of the highest trading commissions on all investment products among the online stock brokers we reviewed. Its pricing, website (Siebertnet.com) and trading tools design are more reminiscent of 1999 than 2014. The company seems to be stuck in the past, not realizing that the industry has moved on.

Muriel Siebert brokerage has very good customer service, and provides clients with access to third-party independent investment research. The firm seems to be targeting more affluent investors, but it falls behind in the selection of services offered compared to its competitors like Etrade or TradeKing.

The company doesn't impose surcharges for penny stocks or 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. For a firm apparently aimed at the affluent investor, penalizing large stock purchases in this manner is rather odd.

One positive thing about the company that really stands out is low margin rates. The rates are some of the lowest in the industry. The company charges just 0.75% above Broker Call Money Rate for balances with $25,000+, and up to 2% above Broker Call Money Rate for balances under $5,000.

Muriel Siebert was rated Most Expensive among brokerage firms for frequent traders by Barron's magazine. Because of the unusually high commissions, we can't recommend it for any type 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 Promotion Code


None right now.
Open Muriel Siebert account


Muriel Siebert Reviewed by Brokerage Review on . Rating: 3


Please share us with your friends




Related articles

Online broker promotions:
Copyright ©2009-2014 Brokerage-Review.com. All rights reserved.
The stock brokerage firm you select is solely responsible for its services to you, the user. Brokerage-Review.com shall not be liable for any damages or costs of any type arising out of or in any way connected with your use of a brokerage house's services. Brokerage-Review.com has partner relationships with other companies. As a partner, we often provide reviews of products and services based on our personal opinions. We are not compensated for positive reviews. While we strive to make sure that the information we present here is true and accurate upon publication, the rates and offers that we share with you may change without notice, so please visit the sites we reference for more up to date information.