Cheapest Online Broker Fees
|Stocks and ETFs|| $4.75|
|Stocks and ETFs broker assisted|| $4.75|
Plan 1. Up to five contracts for $5; each additional
Plan 2. $8.50 + 0.15/contract (great if trading over 10 contracts)
Plan 1. Up to 10 contracts for $10; each additional
Plan 2. $12.50 + 0.15/contract
|Mutual funds|| $9.95|
|U.S. Treasury bonds and listed corporate bonds||Orders are accepted by phone|
|Investments|| stocks, options, mutual funds, bonds, ETFs|
|Optionshouse minimum deposit to open account|| $1,000 for cash account, $2,000 for margin account|
Cheapest Online Broker Pros
- Low commissions
- Free streaming quotes
- No fee IRA accounts
- No volume requirements, or maintenance or inactivity fees
- Free check-writing privileges
- Free DRIPs/Dividend Reinvestment (complete, non-fractional shares only)
- Very low margin rates
- Free virtual trading
Cheapest Online Broker Cons
- For stocks priced $2 or less that are not options eligible, add $0.005 per share for the entire order
- Shortened after-hours trading: 4:00 pm - 5:00 pm EST, instead of 4:00 pm - 8:00 pm EST
- Basic charts
- NTF mutual funds are not offered
- Very limited research
- Few educational resources
Cheapest Brokerage Firm Review
Don't let the name fool you - Optionshouse is not just for options traders. The firm also provides good trading
services and excellent prices for stocks, ETFs, mutual funds, and bonds. Optionshouse offers low, flat-rate $4.75 per trade
commissions on stocks and ETFs, two attractive plans for option traders, and a great $9.95 per transaction rate on mutual funds.
The company does not have minimum account balance, volume or minimum number of trades requirements to get these low commissions, either.
OptionsHouse’s margin rates are some of the least expensive in the industry. Currently if a trader borrows over $1 million, the margin
rate is only 1.5%. The highest margin rate is 4% to borrow up to $49,999. The margin rates incrementally decrease from 4% to
1.5% depending on the amount the investor borrows over $50,000.
Because of no IRA fees, Optionshouse is one of the
Best Brokerages for IRA.
Unlike many other companies, it does not have additional fees on broker-assisted trades,
extended hours trading, or large orders. There is, however, $0.005 per share surcharge for stocks priced $2 or less that are
not options-eligible. Optionshouse also has a shorter than normal after-hours trading
period: 4:00 pm - 5:00 pm EST instead of 4:00 pm - 8:00 pm EST.
Optionshouse offers its customers Maxit Tax Calculator, which helps investors with tax liabilities, gains tracking, and Schedule D reports.
Read full Optionshouse review.
This article was updated on 9/24/2014.