USAA brokerage rating

USAA Brokerage Investment Services Review

USAA Investments Review: Commissions, Fees, and Minimum Deposit

Stocks and ETFs $8.95 for Gold members and $5.95 for Platinum members (an additional $0.01 and $0.005 is charged for each share over 1,000 for Gold and Platinum, respectively)
Stocks and ETFs broker assisted $50 (an additional $0.005 is charged for each share over 1,000)
Options $8.95 + $0.75 per contract for Gold members and $5.95 + $0.75 per contract for Platinum members
Mutual Funds $45
All Listed Corporate Bonds $25 + $3 per bond
U.S. Treasury Securities at Auction $45

Investments stocks, options, mutual funds, bonds, U.S. Treasury Securities, ETFs
USAA Brokerage minimum deposit to open account $0
FeesUSAA Brokerage fees
Promotion linkUSAA Brokerage promotions

USAA Investments New Account Setup

USAA brokerage accounts can be created without having to deposit funds first or pass USAA member eligibility. When user creates an account, he or she will be asked how much they want to invest, and if they are not ready to deposit funds, they can enter "0" and proceed.

USAA Mutual Funds

USAA offers clients their own mutual funds (around 50 in total) in a variety of fund categories including Equity (primarily growth funds), Index (stock exchange indices), Taxable Bond, Tax-Exempt Bond, Money Market (capital preservation funds), Asset Allocation (for one-stop diversification shopping), and Target Retirement Funds (based on user's projected retirement date, adjusts the proportions and distribution of investments across stocks and bonds).

USAA Investing Review

USAA Brokerage Trading Platform/Tools Review

USAA Brokerage offers common to nearly every investment website stock and mutual fund screeners, interactive chart data, detailed company information and summaries, as well as interactive retirement and investment calculators. Though the firm have made significant gains to improve these tools in recent years, overall, we would rate their tools and resources as average to slightly below-average.

The stock and mutual fund screeners are simple to use but a little user-unfriendly if trying to make quick modifications or corrections to the search criteria. The interactive charts provide good information but lack the substance to gain a quick and concise understanding of the company or product being examined. It seems all the right content is there for a user to use but the overall feel of the resources would be best described as slightly disorganized. One feature of their stock screener we like the most is the 52-Week Range, which shows the price range over the last 52 weeks and where the current price is in relation to the high and low price.

Highly rated mobile smartphone application is available for iPhone, Windows, Android and Amazon Fire. It allows clients to see real-time quotes, place trades, read articles and watch videos related to investing.

USAA Investments Review

USAA Investments Pros

  • Very few fees comparing to other brokerage firms
  • Good stock and ETF commissions for clients with $50,000+ balances
  • No account maintenance, inactivity or hidden fees
  • Good banking services offered through USAA bank accounts
  • No-fee IRA accounts

USAA Promotion Offer

USAA Investments Cons

  • Higher than average commissions for Gold Members
  • Additional $0.01 per share and $0.005 per share is charged for each share over 1,000 for Gold and Platinum members, respectively
  • Poor trading tools
  • Few educational resources
  • Limited research services

USAA Brokerage Review Summary

USAA Investment Services is offering two commission plans for stocks and ETFs: $8.95 per trade for Gold members and $5.95 for Platinum members. To qualify for a Platinum plan, the customer must execute 25 or more trades in a rolling 90-day period, or have $50,000 or more in eligible assets. Mutual funds commission is $45 per transaction at both plans. USAA's own mutual funds are commission free.

USAA Investments doesn't have surcharges on extended hours trading or penny stocks, but does charge $0.01 per share more for Gold members and $0.005 per share more for Platinum members for each share in the trade over 1,000. There are no account maintenance or inactivity fees for both IRA and non-IRA accounts. In general, the company has very few fees when compared to multi-page lists of fees at other brokerage houses. As an example, if client decides to move full or part of his/her account to another firm, there is no charge (no ACAT fee). The list of all fees is located here.

USAA Brokerage is not a firm for traders looking for sophisticated trading tools or investors looking for varied investment research from multiple sources. Their trading tools are basic and the company does not offer an advanced trading platform found at many competitors. Surcharge on large orders further limits any potential for active trading.

USAA is known for competitive banking services and insurance products which are available not just to military and their families but also to the general public. The services include completely free checking account, low rates to car insurance, and credit cards with cash, gas and groceries awards.

In summary, USAA Brokerage's Gold member commissions are higher than the average in the industry. But investors who can qualify for a Platinum status get very competitive pricing. Also, unlike most other online brokers, the company charges few additional fees. We recommend USAA Brokerage to investors who want to complement USAA banking and insurance products with an ability to invest in mutual funds, stocks and ETFs.

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USAA Brokerage Reviewed by on . Reviewed by Editor and USAA customers. Rating: 4

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