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ONLINE STOCK BROKER COMPARISON:
Scotttrade |
Charles Schwab | TD Ameritrade | E*Trade |
Fidelity |
|
| Branch Offices Nationwide = | 290 |
300 |
103 |
20 |
110 |
NYSE, AMEX & NASDAQ |
$7* |
$12.95 + $0.015/share over 1,000 shares** |
$9.99 unlimited shares |
$12.99 † | $19.95 ‡ |
| Options Equity or Index Market Orders = |
$7 + $1.25 per contract |
$9.95 + $0.75 per contract |
$9.99 + $0.75 per contract |
$12.99 + $1.25 per contract |
$19.95 + $0.75 per contract |
| Broker-Assisted Orders = | $27 unlimited shares |
$37.95 + $0.015/share over 1,000 shares** |
$44.99 |
$45.00 + online commission |
$55.00 + $0.14 per share over 100 shares |
| Real-Time Dow Jones News for Investors = | Complimentary | Complimentary for active traders |
$29.99/Month | $95.00/Month | Not Available |
| Quarterly/Annual Account Maintenance Fee = | $0/$0 | $0/$0 | $0/$0 | $40/$160 ¶ | $0/$0 |
| Minimum Account Balance = | $500 | $2,500 | $1,000 | $1,000 | $2,500 |
| Margin Interest Rate On $7,500 Debit Balance = | 10.50% | 10.75% | 11.00% | 10.24% | 11.075% |
| Buy 10,000 Shares at $20 Limit = | $7 | $147.95** | $9.99 | $9.99 | $145.95 |
| Broker-Assisted Order for 5,000 Shares at $60 Limit = | $27 | $97.95** | $44.99 | $54.99 Unlisted $99.99 Listed |
$247.50 |
| No-Transaction Fee Mutual Funds = | 1,000+ | 2,000+ | 1,325 | 1,000+ | 1,100+ |
| Buy 5,000 of Vanguard Fund = | $17 | $49.95 | $49.99 | $19.99 | $75.00 |
| Account Closing & Transfer Out Fee = |
$0 | $50 | 50 ($25 for IRA) | $60 | $ 0 ($50 for IRA) |
Prices for competitors were obtained on July 25, 2006 and are believed to be accurate, but not guaranteed. Some of the firms listed above may reduce or waive commissions or fees, depending on account activity or total account value.
* For stocks priced under $1, add ? % of the principal value to the commissions shown. Most foreign and pink sheet stocks must be traded with broker assistance for a $27 commission. Commissions are charged on a per order basis. Limit orders executed over multiple days and orders modified after a partial execution on the same day will be treated as separate orders for commission calculation purposes. The quarterly account maintenance fees imposed by other brokers may be waived if your account meets minimum balance and/or trading requirements.
** $9.95 flat pricing may apply depending on household balances or trade volume.
† For orders involving securities listed on a national securities exchange (listed securities) a fee of $0.015 per share will apply to that portion of the order exceeding 2,000 shares.
‡ +$0.015 per share over 1,000 shares.
¶ Exceptions may be made based on balances, account type or trade volume.
From: www.scotttrade.com (14/03/07)
OTHER ONLINE STOCK BROKER:
Commision Schedule OPTIONSXPRESS:
OPTIONS
| # of Contracts | 1 |
5 |
10 |
20 |
| 35+ Trades/Quarter* | $12.95 |
$12.95 |
$12.95 |
$25.00 |
| 0-34 Trades/Quarter | $14.95 |
$14.95 |
$15.00 |
$30.00 |
SHARES
| # of Shares | up to 1,000 | 1,001+ |
| 9+ Trades/Quarter* | $9.95 |
$0.01 / share |
| 0-8 Trades/Quarter | $14.95 |
$0.015 / share |
OTHER RATES
| Broker Assisted or Limit Orders | No Extra Charge |
|
| Spreads, Straddles & Combos 1 | $29.90 min. | Each leg represents a trade |
| Covered Calls (Buy Writes) 1 | $29.90 min. | Each leg represents a trade |
| Mutual Funds | $14.95 | Plus any additional loads or fees |
| Bonds | $5 / Bond | $14.95 minimum |
| Futures | $3.99 / contract | Plus exchange fees |
| Exercise or Assignment | $9.95 | Per exercise/assignment |
| Early Assignment 2 | $1.25 / contract | $5.95 min, $14.95 flat rate |
| Partial Fills | Please review how commissions apply on partial fills.** |
**A partial fill is when part of a limit order has been filled. A partial fill may be completed in the same day and then subsequently cancelled or the remainder may be filled. A day limit order that is partially filled will have the remainder cancelled at the end of the day if it has not been entirely filled. A partial fill on a GTC order may be carried over to the next market day until it is cancelled or filled in its entirety.
Note: If a Good-Until-Cancelled (GTC) order is partially filled one day and the balance of the order is filled on another day, you will be charged two separate commissions. If you do not want to accept a partial fill for an order, you may indicate it is an "All-or-None" order, however All-or-none orders have unique risks. See also All-or-None, GTC, split fill. Also, an order that is partially filled during the day but then modified (cancelled and replaced) will create a separate commission charge since this is a new order in the marketplace.
INTEREST CHARGES AND MARGIN BALANCES
| $0 - $49,999 | 8.75% |
Broker call 3 + 1.75% |
| $50,000 - $99,999 | 7.75% |
Broker call 3 + .75% |
| $100,000 - $249,999 | 7.50% |
Broker call 3 + .50% |
| $250,000 - $499,999 | 7.25% |
Broker call 3 + .25% |
| $500,000 - $999,999 | 7.00% |
Broker call 3 |
| Over $1,000,000 | 6.50% |
Broker call 3 - .50% |
* Qualified active option trader customers must maintain 35 or more option trades per quarter to maintain the active option trader rate of $1.25 per contract or $12.95 minimum. Qualified active stock trader customers must maintain 9 or more stock trades per quarter to maintain the active stock trader rate of $9.95 per trade (up to 1,000 shares and $.01 per share for 1,001 shares and above). Active trader rates are not available for Xecute services. Commissions on Penny Stocks will be capped at 5% of total purchase price, subject to the $14.95 minimum. 1 Each leg of the combination represents a trade and is subject to standard commission rates, $29.90 min. per order. 2 Rate applies to early small lot assignments for U.S. domiciled accounts only. Early Assignment rate for customers who trade less than 35 times per quarter is $1.50. International accounts and certain U.S. domiciled accounts are subject to $14.95 per early assignment. 3 Broker call is a variable rate currently at document.write(marginRates('6') + '%'); 7.00% 4 Exercise / Assignment rate for customers who trade less than 35 times per quarter is $14.95. |
From: www.optionsxpress.com (14/03/07)