TD Ameritrade 300
USAA rating

USAA Investments Fees, Commissions, IRA Account Cost, and Margin Rates


2018 USAA Investments fees schedule, commissions, broker stock trading cost, charges, online investing account pricing, and cash sweep rates.



USAA Brokerage Fees and Commission Structure


InvestmentsCommissions
Stocks and ETFs $8.95
Foreign stocks $70
Stocks and ETFs broker assisted $50
Options $8.95 + $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


For stocks priced less than $1, an additional $.01 per share charge applies. Certain Exchange Traded Funds may be traded without commissions. Commission rates are calculated with a 5% maximum charge of the trade's principal value subject to the minimum commission of $8.95. If the principal amount of a sale is less than the minimum commission charge, the commission will be adjusted so that the proceeds received will be the lesser of $2 or the value of the shares.



USAA Brokerage Margin Rates


The standard for determining margin rates is the USAA base rate. This rate is set by USAA Brokerage Services with consideration for commercially recognized rates, such as the broker's call rate and the competitive environment.


Debit Balance Margin Rate
$0 – $19,999 10.50%
$20,000 – $49,999 10.50%
$50,000 – $249,999 9.40%
$250,000 – $999,999 8.50%
above $1,000,000 7.25%



USAA Brokerage Fees


Fee Description Amount
Asset Management Account (AMA) Check CopyCharged for each request for a copy of an AMA check that has cleared the account.$5
Foreign Stock Transfer ServiceTransfer of foreign securities. Does not apply to American Depositary Receipts (ADRs).$70
Transfer of Assets — Full Brokerage TransferMake a full automated customer account transfer (ACAT) of all assets and positions to another financial institution.$70
Transfer of Assets — PartialTransfer a security through the Direct Registration Service (DRS).$20
Transfer of Assets — PartialTransfer a security that is not eligible for DRS.$0
Statement Copy Fee
  • 2000 to Current- Quarterly/Monthly Statement
  • Prior to 2000
$2 per statement

$10
Wire Transfer — DomesticWire transfers to U.S. banks.$20
Wire Transfer — InternationalWire transfers to non-U.S. financial institutions.$35
IRA ClosingCharged upon account closure.$35
Late PaymentCharged when a securities purchase settles one or more days late due to insufficient funds in the account.$25
Restricted StockCharge to remove restriction from restricted securities.$250
Returned DepositThe return of any check or electronic deposit into a brokerage account.$29
Nonsufficient Funds — Item ReturnedThe return of any check or other withdrawal from a brokerage account.$29
ReorganizationVoluntary actions that include exercising rights or warrants, voluntary tenders, or converting bonds or preferred stock. Processing a mandatory action for a certificate deposited after the effective date.$35
American Depositary Receipt (ADR) Custodial/Processing FeeApplies to ADRs for custody or when participating in a reorganization or dividend payment.$0.003 — $0.05/share
Alternative Investment (AI) Transfer / Re- RegistrationCharged when transferring a non-liquid AI into or out of a brokerage account or to change the registration of the AI.$50
AI Annual Custody FeeCharged annually for each non-liquid AI held in a brokerage account.$75
Small Balance Closeout FeeCharged when accounts are closed for having a balance of less than $100 and no activity for 12 months.$10



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Broker-Assisted Trading


Product Commission
Stocks
An additional $.005 per share is changed for each share over 1,000
$50
Options
Option commission applies only to option contract trades. When a contract is exercised or assigned and the underlying security is bought or sold, the Internet commission rate applies to the trade, based on your current commission level
$25 + $.75 per contract
USAA Fund Marketplace®3
No-Load No Transaction Fee Funds
No-Load Transaction Fee Funds
Load Funds

No fee
$45 transaction fee
Applicable load
Bonds
All Listed Corporate Bonds
U.S. Treasury Securities at Auction

$25 and $3 per bond
$45



Comparison Chart









USAA Brokerage Annual Fee


USAA Investments does not charge annual fee for regular brokerage individual or joint taxable accounts. The firm also does not have annual IRA fee or any monthly charges.


USAA Investments Maintenance Fee


USAA brokerage does not charge annual maintenance fee for regular broker individual or joint taxable accounts. The firm also does not have annual IRA maintenance fee or any other similar charges.


USAA Inactivity Fee


USAA Investments brokerage and all IRA accounts do not have any inactivity fees.


USAA Investments Fees


An account with a balance of less than $100 that has no activity for 1 year will be automatically closed by USAA and charged a $10 fee.

Transferring a USAA account to another firm costs a fairly steep $70. Other firms either do not charge for this service, or charge less. Merrill Edge traders, for example, pay $49.95.

Closing an Individual Retirement Account at USAA costs $35. TD Ameritrade charges nothing to close an IRA.

Traders who want to buy or sell a foreign stock will have to pay a very steep $70 commission to do so at USAA. American Depository Receipts are thankfully exempt from this policy.

While the brokerage arm of USAA has a reasonable commission for stock and ETF trades (just $8.95), it only applies to website and mobile platform trades. Using a live associate over the phone to submit an order costs $50. Capital One Investing charges just $19.95, while OptionsHouse clients pay $29.95.

Trades of more than 1,000 shares incur a 1¢ per share surcharge. If the order is placed with a rep on the phone, the surcharge is half a penny per share.

USAA also has reasonable rates for option traders: just 75¢ plus the $8.95 base charge. But if the trade is placed over the phone, the base charge increases to $25.

Trading U.S. Treasury bonds at many brokers is commission free. Vanguard, for example, charges no commissions on U.S. government bonds for new issues and $1 or $2 for secondary issues, depending on account size. USAA, however, charges $45 per transaction.

For corporate bonds, USAA charges a flat $25 plus $3 per bond. Vanguard, by comparison, has the same schedule noted above.

While USAA has a large selection of mutual funds, the broker charges a rather steep $45 for any fund that isn’t on its NTF list. This fee is more expensive than the mutual fund transaction fees of several other notable brokers. Ally Invest, for example, charges just $9.95.

If multiple transactions are placed on the same stock or other security on the same market day, the broker will assess multiple commissions.



Fees That USAA Brokerage Does Not Charge


Active traders receive a $3 discount off the broker’s standard $8.95 commission. Active is defined as at least 25 trades in a 3-month period. Alternatively, the broker will also grant the discount to accounts that have $50,000 or more in assets.

USAA limits its commission charge to 5% of principal value. This policy would be ideal for small traders.

Many brokers impose surcharges on option exercises and assignments. Scottrade does this, for example. USAA, however, charges only its normal equity transaction fee, either $8.95 or $5.95.

Securities that undergo a mandatory reorganization are not charged anything at USAA. Other brokers do charge for this unavoidable event. TradeStation customers, for example, must pay $20.



USAA Brokerage Overview


The United Services Automobile Association (USAA) which was founded in 1922 has long been known as a premier insurance provider for military service men and women and their families. Along with insurance services USAA also has offered brokerage accounts. Let's take a look at the USAA's brokerage capabilities, investment options, account opening requirements, trading tools, promotions and fees.



Opening an Account


To open a brokerage account with USAA there is no minimum deposit requirement. In contrast, Fidelity and Scottrade require a minimum investment of $2,500.

USAA brokerage accounts have $8.95 commission on stock and ETF trades and $45 commission on mutual funds. Compared to other brokerage companies, USAA trading fees are higher than average.


USAA Fee Schedule



Investor Education


USAA has a broad range of tools and educational courses that one can explore before starting investing. USAA's website can help make smarter investment decisions through three categories: Independent analyst research, stock screeners and mobile trading. The independent analyst research is aimed at making the average user to be a well-informed investor before they decide where to put their money. The investor education is separated into the following five categories:

1. Retirement
2. Education Savings
3. Investment Principles
4. Taxes
5. Personal Finances

These five categories are filled with articles written by USAA for their customers. Along with the articles USAA offers online classroom courses that USAA states “can help you build and improve your mutual fund and stock portfolio in no time.” The courses are divided into three categories that consist of Stocks, ETF's, and Mutual Funds. These have 5 different levels to be completed.



Problems


Many people have reported that USAA brokerage services are not on the same level that their insurance policies that many customers rave about. From a lack of knowledge from investment advisors to a higher than average commissions and fees, USAA brokerage offerings are lacking in many areas.



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Current Promotions


USAA brokerage services is currently NOT running any promotions for both new and existing customers.


The Good


  • Top customer service
  • "Best of the Best" – top veteran friendly company (2012-2018)
  • Bloomberg’s customer services champs – Ranked 1st
  • Account minimum required to open an account is $0
  • Easy for current USAA banking members to link their accounts and open a USAA brokerage account



The Bad


  • $8.95 commission per trade is not competitive to others in the market
  • Trading tools do not compare well to rival brokerage firms
  • Surcharge on trades with over 1,000 shares and stocks under $1.00



USAA Brokerage Review Recap


USAA has offered great insurance products since 1920 to millions of service men and women. Despite thier great insurance products and world famous customer service, their higher than average brokerage fees and below average investment services do not make them a very appealing option for an investment account.



USAA Investing Fees Disclaimer


USAA brokerage fees are as of 2018 and are subject to change. For the most recent information on USAA investments fees visit their website.