3-star brokerage rating

USAA Brokerage Account Review

USAA Brokerage Has Been Discontinued

Charles Schwab has acquired all USAA brokerage accounts and discontinued it. Please read detailed Charles Schwab Review.

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USAA Brokerage Pricing

Stocks and ETFs $0
Foreign stocks $70
Stocks and ETFs broker assisted $50
Options $0.75 per contract
Mutual funds $45
All listed corporate bonds $25 + $3 per bond
U.S. treasury securities at auction $45

Investments stocks, options, mutual funds, bonds, ETFs
USAA brokerage minimum deposit to open account $3,000

USAA Investments Review

USAA Investments has been providing investors with a disciplined approach for over 40 years, reflecting the military values of its parent company. While many USAA banking products are limited to the military community, a USAA brokerage account is available to both the military community and the general public.

USAA Investments offers a diverse range of investment options, including stocks, ETFs, options, USAA and non-USAA mutual funds, CDs, bonds, and other fixed income products.

usaa brokerage account review

USAA Investments Fees, Commissions & Minimum Requirements

When it comes to fees and commissions, USAA Investments charges $8.95 per trade, which is higher compared to most discount online brokerages. Ally Invest and Fidelity, for instance, offer commissions as low as $4.95.

For options trading, USAA charges a base fee of $8.95 plus $0.75 per contract. The commission for trading mutual funds is $45, which is considered average among competitors. Schwab, for example, charges $76 for mutual fund commissions, while Fidelity charges $49.99.

Commissions for U.S. Treasury Securities at auction are set at $45.

There is no minimum deposit requirement to open a standard brokerage account. However, for mutual fund accounts, certain initial investments are needed. These include $1,000 or $0 with $50 per month for First Start Growth Fund and Money Market Fund, $1,000 or $500 with $50 per month for Cornerstone Funds and Target Retirement Funds, and $3,000 for any other fund.

USAA Investments Trading Tools & Research Review

USAA offers a selection of trading tools that, while not as advanced as the best trading platforms, are clean and user-friendly. Customers have access to charts, analyst ratings, real-time quotes, company news headlines, financial snapshots, watchlists, and stock and fund screeners to aid their decision-making process. USAA Investments also provides in-depth reports and ratings from Argus, MarketGrader, and MarketEdge.

The mobile app allows investors to access their trading account, conduct investment research, receive customer service, and stay informed with news updates. The app supports trading of stocks, mutual funds, ETFs, and options. Its interface is clean and easy to navigate, and it is available for iPhone, iPad, and Android users.

USAA Brokerage Education & In-Person Guidance Services

USAA has a growing network of local branches called USAA Financial Centers, where customers can receive assistance with banking and investment services from USAA representatives. In-person meetings with USAA Wealth Advisors are available by appointment. USAA branches can be found in various states across the United States, including California, Texas, Colorado, Washington DC, Georgia, Kansas, New York, North Carolina, Maryland, Tennessee, and Virginia.

usaa brokerage

USAA Investments Review Summary

In summary, USAA Investments provides powerful and sophisticated trading tools. It is a well-established brokerage committed to delivering quality investment services with loyalty, integrity, and honesty to military members and the general public. The broker is transparent, with no hidden fees except for a surcharge of $0.01 (Gold members) and $0.005 (Platinum members) per share for quantities over 1,000.

While certain services like competitive rates on savings accounts, free checking accounts, low-rate insurance, and auto loans are exclusive to military members and eligible family members, anyone can enjoy a full range of self-directed investments and wealth management services offered by USAA.

In 2016, USAA Investments received high rankings in the annual U.S. Self-Directed Investor Satisfaction Study by J.D. Power. Despite not being included in the final rankings due to its exclusivity to military personnel and their family members