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Best Online Discount Brokers

 

TradeKing

Discount Broker TradeKing has no setup or annual maintenance fees, no minimum to open an account. No inactivity fee. Products available for trading include stocks, options, mutual funds, bonds and CD's. TradeKing commissions are $4.95 per trade for stocks (market or limit) over $2.00. Options are 65 cents per contract.

TradeKing was rated the #1 discount broker by SmartMoney in August of 2006.

 

 

Firstrade

Discount broker Firstrade has no setup or annual maintenance fees, no minimum to open an account. No inactivity fee either. Products available for trading include stocks, options, mutual funds, bonds, and CDs. Firstrade commissions are $6.95 per trade for stocks (market or limit). Options are $1.25 per contract.

Firstrade offers free dividend reinvestment.

 

 

Scottrade

Scottrade has no setup or annual maintenance fees, $500.00 minimum to open an IRA account. No inactivity fee and no termination fees! Products available for trading include stocks, options, mutual funds, CDs, munis, and Canadian stocks. Scottrade commissions are $7.00 per trade for stocks (market or limit). Options are $1.25 per contract.

Scottrade's site is also translated to Chinese.

 

 

thinkorswim

thinkorswim discount broker has no setup or annual maintenance fees, no minimum to open an account. No inactivity fee. Products available for trading include stocks, options, futures, mutual funds, and bonds. thinkorswim commissions are $9.95 per trade for stocks (market or limit) up to 5000 shares. Options are $1.50 per contract.

thinkorswim will pay your IRA termination fee when you open an account with them.

 

 

TD Ameritrade

Discount broker TD Ameritrade has no setup or annual maintenance fees. No minimum to open an account. No inactivity fee. Products available for trading include stocks, options, mutual funds, bonds and CDs. TD Ameritrade commissions are $9.99 per trade for stocks (market or limit). Options are $0.75 per contract.

TD Ameritrade accepts foreign accounts.

 

 

E-Trade

Discount broker E-Trade has no setup or annual maintenance fees, $1000.00 minimum to open an account. There is a termination or transfer fee. Products available for trading include stocks, options, futures, mutual funds, and bonds. E-Trade commissions are $12.99 per trade for stocks (market or limit). Options are $0.75 per contract.

E-Trade also offers online banking and lending services.

 

 

Fidelity

Fidelity has no setup or annual maintenance fees, $2500.00 minimum to open an account. They will waive it if you sign up for automatic contributions totaling $200.00 per month. No inactivity fee however, there are low-balance, short term trading, and account termination fees. Products available for trading include stocks, options, mutual funds, CDs, munis, and Canadian stocks. Fidelity commissions are $29.95 per trade for stocks (market or limit). Options are $2.25 per contract.

Fidelity is a full service broker.

 



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