How to Find a Broker
Deciding to take the plunge and start investing is a pretty big choice in itself, but picking a broker is just as important.
Online Broker Partners
OptionsHouse |
Scottrade |
Interactive Brokers |
E*TRADE |
TradeStation |
|
|---|---|---|---|---|---|
 Learn more about OptionsHouse |
 Learn more about Scottrade |
 Learn more about Interactive Brokers |
 Learn more about E*TRADE |
 Learn more about TradeStation |
|
|
Commission: Stock Trades: $4.95 per Trade Options Trades: $0.50 per contract + $4.95 base |
Commission: $7.00 Online Stock Trades |
Commission: Stocks & ETFs - $0.0005 - $0.0035 per share. See site for details. |
Commission: $9.99 |
Commission: Options Trades: $1 per contract no minimum Stocks Trades: $.01 per share - $1 per trade minimum |
|
|
Minimum: No minimum to open an account. |
Minimum: $2,500 Cash account minimum. |
Minimum: Equity deposit in cash or stock of $10,000 (or USD equivalent) or $5,000 for IRA Account (or USD equivalent). |
Minimum: $500 Cash account minimum. |
Minimum: $5,000 Minimum for Non-Day-Trading Account. |
|
Features:
|
Features:
|
Features:
|
Features:
|
Features:
|
|
|
Offer:
Trade Commission Free for 60
Open Account
Days. |
Offer: Qualify for up to $2,000
Open Account
Qualify for 50 Free Trades |
Offer: N/A
Open Account
No ticket charge. |
Offer:
Trade Free for 60 Days Plus
Open Account
Get up to $600 at E*TRADE Securities. |
Offer:
Save 20% on commissions
Open Account
through December 2016. Open a TradeStation account today! |
Broker Basics
-
-
How Much Should You Consider a Broker's Reputation?
The potential for fraud or poor service exists, so be careful when picking a broker. -
Five Things To Keep In Your Personal Investment Journal
Keep track of your wins and losses to help you detect patterns over time.
-
Advantages to Online Brokering
There are many tools available to help investors make informed decisions. -
-
What Do Millennials Want to Know?
If you're a millennial and want to start investing, read on for more.
Featured Video
More Brokers
| Broker | Minimum Deposit | Commission |
|---|---|---|
| Schwab | $1,000 brokerage account minimum | $8.95 online U.S. equity trades |
| optionsXpress | None | $1.25 for options; $8.95 for stocks |
| Lightspeed Trading | $25,000 | $4.50 |
| Merrill Edge | None | $6.95 |
| Sogotrade | $500 | $3 |
| TradeKing | $2,000 | $4.95 |
| BB&T | $10,000 | $25 |
| BuyAndHold | N/A | $7.99 per month for two trades |
| ChoiceTrade | None | $5.00 |
| CitiBank | N/A | N/A |
| Cobra Trading | $2,500 | 0.005/share plus routing and regulatory fees |
| eOption | $500 | $3.00 |
| Firstrade | None | $6.95 |
| Folio Investing | None | $4.00 |
| Generic Trade | None | 59 cents |
| Investrade | $500 | $6.95 |
| Just2Trade | $2,500 | $2.50 |
| LowTrades | $2,000 | $4.95 |
| Marsco | $2,500 | $3.95 |
| MB Trading | $250 | $4.95 |
| Morgan Stanley | N/A | N/A |
| Muriel Siebert | None | $14.95 |
| Futures Online | $2,000 | $1.29 |
| PennTrade | $500 | $16.95 |
| PlaceTrade | $5,000 | $1.50 |
| Seaport Securities | None | $14.95 |
| SpeedTrader | $15,000 | $4.49 |
| StockCross | $1,000 | 8 percent for margin trades |
| T. Rowe Price | $2,500 | $9.95 |
| TD Ameritrade | ||
| TradeMONSTER | No minimum to open an account | $4.95 flat-rate stock trades |
| Trading Direct | $500 | $10.95 |
| TradingBlock | $2,000 | $0 per share; $7.50 ticket charge |
| USAA | None | $5.95 |
| Vanguard | N/A | $7 for the first 25 trades; $20 for subsequent trades |
| Wells Fargo | N/A | $6.95 |
| Zions Direct | N/A | $9.95 |
| TD Ameritrade | $0 ($2000 for Margin Options) | $9.99 for online equity trades. |
Note: The information in the above chart is current as of August 1, 2016. To reach someone about having it updated, please contact Speke Wilson at speke.wilson [at] nasdaq.com.
