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Pay-per-share brokers: compare brokerage firms that offer pay-per-share commissions
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- Stocks and ETFs (not direct access): $5 per trade
- Stocks and ETFs (direct access): $0.005 per share, $1 minimum per trade
- Stocks and ETFs (broker-assisted): $30 per trade
- Options: $5 plus $0.15 per contract
- Mutual funds: $25 per trade
- Investment products: stocks, options, mutual funds, Forex, ETFs
- Minimum to open Choicetrade account: $0 for cash account, 2,000 for margin account
- All Choicetrade fees
- Direct access trading with lowest per share commissions
- Very low flat-rate commissions
- Powerful trading platforms
- No account minimum, maintenance or inactivity fees
- Free paper trading
- Investor community
- While web-based trading platform with delayed quotes is free, more advanced platforms and streaming quotes are not: web-based Choicestreamer is $14.95/month,
ChoiceTrader Direct pro is $49/month, Choicetrader Select with eSignal is $126/month
- Extended hours stock trades have $0.005 per share surcharge
- 1% surcharge of the total dollar value of the order in addition to the normal commission of $5 per trade to all stock orders of more than 500,000 shares
- High mutual fund commissions
ChoiceTrade Review
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- Stocks and ETFs: $0.005 per share with $1 minimum per trade for SMART routed orders
- Options: $0.70 per contract plus exchange fees
- Mutual funds: $14.95 per transaction
- Investment products: stocks, options, ETFs, bonds, futures, currency transactions
- Minimum to open Interactive Brokers account: $10,000 for non-IRA account, $5,000 for IRA account
- All Interactive Brokers fees
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Low stock commissions for orders with 800 shares or less
- Professional trading platform
- Great margin rates
- $10,000 minimum to open most accounts
- $30/month minimum commission requirement to avoid $10/month fee
- $10/month for IB market data feed (waived if trade commissions are more than $30/month)
- Fees on modified or canceled orders
- Trader Workstation is designed for professional traders, it is not intuitive; difficult to learn
- Expensive to make trades with over 1,500 shares
- A lot of complains about snobby customer service (experienced it ourselves)
- $1.20 fee to modify or cancel an option order
- Merciless margin tightening and margin calls - IB doesn't care if their customers get completely wiped out
Interactive Brokers Review
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- Stocks and ETFs: $4.95 for limit and market regular hours orders for up to 10,000 shares
- OR $0.0075 per share with a $4.95 minimum per trade (proprietary order routing through MBTX system)
- Executions on foreign stock exchange: $4.95 + 0.01 per share
- Options: $0.95 per contract, per side, and no minimum ticket charge
- Mutual funds: $12.95 for no-load funds
- Bonds: $12.95
- Futures: $0.95 per contract
- Pink Sheets & OTC BB: $8.95 per trade, no limit to number of shares
- Forex: $2.95 per $100,000 traded
- Investment products: stocks, options, mutual funds, Forex, futures, bonds, ETFs
- Minimum to open MB Trading account: $1,000 for cash account, $2,000 for margin, $400 for a Forex, $500 for IRA
- All MB Trading fees
- Good commissions on market and limit orders (regular hours only and below 10,000 shares)
- Excellent trading tools
- Great customer service
- No ECN and exchange fees
- No maintenance, inactivity or hidden fees
- Surcharge of $0.005 per share for extended hours and orders
executed using the Reserve, Discretionary, or Pegged order types
- $30 annual fee for IRAs
- High margin rates
- $0.01 per share fee to exercise options contracts
MB Trading Review
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