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Best discount brokerage firms and top online stock brokers in 2010
It is important to find an online broker that offers the lowest commissions without
sacrificing customer service. We compare the best brokerage firms and hope the
broker ratings below help you select the right company for you.
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Scottrade Commissions and Investment Products
- Stocks and ETFs: $7
- Options: $7 plus $1.25 per contract
- Mutual Funds: 2,800+ for free, $17 for all others
- Investment products: stocks, options, mutual funds, CDs, munis, Canadian stocks, ETFs
- Minimum to open account: $500
- All Scottrade fees
- No inactivity, account maintenance or hidden fees
- No-fee IRAs
- Highest customer satisfaction according to JD Power and Associates
- 450+ local branches
- Great support for beginner investors with massive amount of educational resources
- Margin rates are among lowest of national online brokers
- Online community
- No ACAT fee
- Only $500 minimum to open account
- Additional 0.5% of the principal value commission for stocks under $1
Scottrade Review
Scottrade
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TradeKing Commissions and Investment Products
- Stocks and ETFs: $4.95 (for stocks over $1)
- Options: $4.95 plus $0.65 per contract
- Mutual Funds: $14.95
- Bonds: $4.95/bond ($14.95 minimum)
- Treasuries: $24.95 per transaction
- Certificates of Deposit (CDs): $24.95 per transaction
- Investments: stocks, options, mutual funds, bonds, ETFs
- Minimum to open account: $0
- All TradeKing fees
- One of the best in trading commissions
- No minimums or hidden fees
- Award-winning trading tools
- Best rated customer service
- Low margin rates
- Best online investor community
- Fee-free IRAs
- Extensive educational resources
- Extra $0.01 per share on the entire order of stocks priced less than $1
TradeKing Review
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OptionsHouse Commissions and Investment Products
- Lowest stock commissions in the industry
- Efficient trading tools
- No account minimums. Minimum initial funding size is $1,000 for a cash account and $2,000 for a margin account
- No fee IRA accounts
- No volume requirements and inactivity fees
- Free check-writing privileges
- No surcharges for large orders, penny stocks and extended hours trading
- Very low margin rates
- Might not be the best for beginner investors
Optionshouse Review
OptionsHouse
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- Stocks and ETFs: $5
- Options: $5 plus $0.55 per contract
- Direct Access trading: $0.005 per share, $1 minimum per trade
- Mutual funds: $25 per trade
- Investment products: stocks, options, mutual funds, ETFs
- Minimum to open account: $0 for cash account, 2,000 for margin account
- All Choicetrade fees
- Very low commissions and fees
- No account minimum or inactivity fees
- No extra charges for large-sized orders or stocks below $1
- Direct access trading with lowest commissions
- Free paper/virtual trading
- Investor community
- Very good customer service
- Powerful trading tools
- High mutual fund commissions
- Extended hours stock trades $0.005 per share surcharge
ChoiceTrade Review
ChoiceTrade
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- Stocks and ETFs: 10 free stock and ETF trades per month with $25K min. account balance OR if you make 25 trades/month
- $4.50 per stock trade (if not meeting above requirements)
- Options: $4.50 plus $0.50 per contract
- Mutual Funds: $10
- Bonds: $4.50 per bond, with $22.50 minimum per transaction
- Treasury: $24.50 per transaction
- Investments: stocks, mutual funds, options, Forex, Bonds, Treasury bonds, ETFs
- Minimum to open account: $0
- All Zecco fees
- Free/very low commissions
- No account minimum or inactivity fees
- Virtual trading environment
- Forex trading
- Free dividend reinvestment
- Great investing community
- Minimum to open account: $0
- No surcharges for large orders, penny stocks and extended hours trading
- Annual IRA fee: $30
- No extended hours trading
Zecco Review
Zecco
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