17 Sep 09 Online Brokers Trading Fees Explained

Stock broker commissions are becoming cheaper and cheaper. The choices are also expanding so look for competition to continually bring prices down. This is good for us, but there are so many choices to choose from. Here are a few you might want to look into.

The reason why many people are looking at OptionsHouse is due to its cheap stock trades. If you are looking for a trading platform that works and is cheap, look no further.

If you don’t mind the bad publicity and the fact that they might change the rules again, Zecco isn’t a bad choice. Currently, they still offer free stock trades for those that have $25,000 in assets or trade 25 times a month.

While OptionsXpress is pretty expensive with a high commission rate, they don’t have any hidden fees. If you trade less than 35 times a quarter, the commission is $14.95. For high volume traders, it’s $12.95.

Wells Trade offers 100 free trades a year for those that have a combined $25,000 assets with them. For those that already have a Wells Fargo account, this isn’t a bad option. However, just bare with the less than spectacular trading platform.

The highest rated deep discount stock broker is TradeKing. The commission is $4.95 a trade and continues to be one of the cheapest per trade price out there.

I love Etrade because of their user interface. Even though the stock commission is $9.99 and $12.99 in some cases, it is still at the top of my list of recommended stock brokers.

Scottrade offers seven dollar trades, which isn’t bad but not the cheapest. However, their customer support is second to none and they also have the most branches nationwide. In addition, they are the cheapest option that offers face to face interaction.

TradeMonster is relatively new but they are endorsed by Guy Adami and the Najarian Boys on Fast Money. People love OptionsMonster (which they also own) so I would check it out just based on that alone.

Charles Scbwab is the luxury of discount stock brokers. They tailor their business to individual starting with $300,000 in assets and it shows. Their trading commission is $12.99.

TD Ameritrade is big and have lots of customers but I’ve heard many horror stories of website outages when there’s stock market panic and everyone is trying to sell. Their stock trades are $9.99.

No hidden fees is what separates this broker from the rest. Well, not quite because they have Scottrade promo code too.

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