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Best Penny Stocks Brokers in 2013
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- Stocks and ETFs: $8.95
- Options (active traders): $12.95 for up to 10 contracts, $1.25/contract for over 10 contracts
- Options (non-active traders): $14.95 for up to 10 contracts, $1.50/contract for over 10 contracts
- Mutual funds: $9.95
- Bonds: $5 per bond, $9.95 minimum
- Futures: 1-40 contracts $6.99; 41-100 contracts $5.99; 101-300 contracts $4.99; 301-1,000 contracts $3.99; 1,001 + contracts $2.99
- Options on Futures: 1-40 contracts $12.99; 41-100 contracts $8.99; 101-300 contracts $7.99; 301-1,000 contracts $6.99; 1,001 + contracts $5.99
- Covered Calls: $22.90 up to 10 contracts
- Penny Options: 1-10 contracts $4.95 flat; 10 + $0.50/contract
- Spreads, Straddles & Combos: 2-10 contracts - $12.95 Flat (active traders) $14.95 Flat (non-active traders); 10 + contracts - $1.25/contract (active traders); $1.50/contract (non-active traders)
- Investments: stocks, options, mutual funds, bonds, futures, options on futures, covered calls, ETFs
- OptionXpress minimum deposit to open account: $0 for cash account, $2,000 for margin account
- All OptionsXpress fees
OptionsXpress Advantages
- Best customer service
- Many well-designed trading tools and cutting-edge trading technology
- Free streaming quotes
- $100 bonus for opening new account
- No fee IRA accounts
- Great research
- Free virtual trading
- No money down to open new account
- Free account transfers
- Free instructor-led online classes
- Free broker-assisted trading
- Free DRIP: dividend reinvestment plan (contact customer service to set up)
- No platform fees
OptionsXpress Disadvantages
- Higher than average commissions on stocks and ETFs
OptionsXpress offers flat-rate, $8.95 per trade commission on any trades for up to 1 miilion shares. The firm doesn't charge
penny stock fees that almost all other brokers have. Continue OptionsXpress Review.
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- Stocks and ETFs: $9.99
- Stocks and ETFs broker assisted: $49.99
- Stocks and ETFs interactive voice response (IVR) telephone system: $34.99
- Options: $9.99 plus $0.75 per contract
- No-load mutual funds: $49.99
- Treasuries at auction: $25 flat fee
- All other bonds and CMOs, CDs: on a net yield basis
- Futures: $3.50 per contract (inclusive of exchange fees)
- Investment products: stocks, bonds, mutual funds, options, ETFs, bonds, CDs, UITs, futures and forex
- TD Ameritrade minimum deposit to open account: $0 for cash account, $2,000 for margin account
- All TD Ameritrade fees
TD Ameritrade Advantages
- No surcharges on penny stocks, large orders, or after-hours trading
- Large and well known company with 126 local branches
- Two excellent trading platforms: ThinkOrSwim and Trade Architect
- Practice trading without risking your own money using paperMoney
- See what other traders are doing on myTRADE trader community
- Free IRA accounts
- No maintenance or inactivity fees
- Free streaming quotes, including Level II
- Largest selection of independent, third-party research from 12 firms (Standard & Poor's, Morningstar, Jaywalk, TheStreet, etc.)
- 100+ ETFs with no commissions
- Large number of mutual funds - over 13,000 available
TD Ameritrade Disadvantages
- At $9.99 for stocks and ETFs and $49 for mutual funds, commission rates are relatively high
- The website is sometimes very slow on high--volume days
- High margin rates
Ameritrade offers flat-rate, $9.95 per trade commission on any trades. The firm does not have penny stock and large order
surcharges and fees. Continue TD Ameritrade Review.
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This article was updated on 01/22/2013.
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