At just $4.95 per trade with no minimum balance, TradeKing is our discount broker of choice, and we're not alone. SmartMoney also ranked TradeKing #1 for the second consecutive year in its August 2007 issue. TradeKing offers excellent customer service with quick response time and an easy account setup. A great trading platform with an active web community and free real-time quotes are added bonuses.
Zecco offers 10 free trades per month to users with accounts over $2,500, otherwise trades are $4.50. This is a recent change to their policy, which used to have no balance requirement for $0 trades, but at $4.50 per trade, they're still more affordable than most other brokers.
Broker |
Min. Balance |
Lowest Transaction Fee |
The Catch |
Broker Assited |
Extra Fees |
| Charles Schwab | $2,500; ($2000 for IRAs) | $9.95 | $1,000,000 account balance or >120 trades per year for lowest rate; $12.95 per trade otherwise. |  Comission plus $25.00 |
$12.50 per quarter for accounts that fall below minimum balance. |
| E*Trade | $10,000 | $6.99 | Must have $50,000 balance or make 1500 trades per quarter; $12.99 per trade for accounts under $50,000 that make under 30 trades per quarter; No-Fee IRAs limited to those with $25,000 balance in other E-Trade accounts | Commission plus $45.00 |
$40 quarterly for accounts open over 12 months with no trades in the previous quarter; other conditions apply. |
| Muriel Siebert, SiebertNet | None | $14.95 | $14.95 up to 1,000 shares, $0.015 per share over 1,000 shares | Minimum $37.50 per trade |
None |
| OptionsXpress | None | $9.95 | $14.95 if less than 9 trades per quarter | No Extra Charge |
None |
| Scottrade | $500 | $7.00 | Some Foreign issues and Pink Sheets must be broker-assisted | $27.00 |
None |
|
ShareBuilder.com |
None | $4.00 | $4 trades automatically executed; Real-time trades $9.95 | N/A | None |
| TD Ameritrade | $2,000; ($1,000 for IRAs) | $9.99 | None | $44.99 |
None |
| TradeKing
|
None | $4.95 | None | N/A | None |
| WallStreet*E | None | $14.99 | $0.01 per share over 1,000 shares | N/A | $100 annual inactivity fee |
| Zecco | None | $0.00 | With $2,500 balance first 10 trades per month are free. All other trades are $4.50 per trade. | N/A | None |
Disclosure:The publisher of StocksandMutualFunds.com uses both Zecco and TradeKing for personal trading.
Where you invest can be just as important as how you invest. Particularly when starting out, broker fees can absorb a large percentage of your gains. Depending on your needs, you may be well suited for a hybrid full-service and discount broker, like Schwab. Conversely, you may prefer a self-directed approach and just go for the lowest commission fees. Either way, it's important to compare stock brokers and your options before opening an account.
These terms are subject to change by the brokers listed above. This chart is for educational purposes only and is not a solicitation to buy or sell securities nor does it imply endorsement of any of the above mentioned products.