Comparison of online brokerages in the United States

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The following is a comparison of notable brokerage firms for investing online. There are no minimum funding requirements, account maintenance fees, or fees for quotes unless noted.

Brokerage Stock & ETF trade
commission[a][b]
Options trade
commission[a]
Notes
Ally Financial $4.95[1] $4.95 + $0.65 / contract[1]
Charles Schwab Corporation $4.95[2] $4.95 + $0.65 / contract[2]
Chase Bank $2.95[3] Not offered
E-Trade $6.95[4] $6.95 + $0.50-$0.75 / contract[4]
Fidelity Investments $4.95[5] $4.95 + $0.65 / contract[5] Offers money market funds that pay high interest rates.[6]
Firstrade Securities $0[7] $0[7]
Interactive Brokers $0.005 / share, $1.00 minimum[8] $0.70 / contract, $1.00 minimum[8] Interactive Brokers offers the lowest margin rates and pays a high interest rate on free cash balances.[9] $10 monthly commission minimum for accounts valued below $100,000; $20 monthly commission minimum for accounts valued below $2,000.[10] $10 monthly fee for real time quotes unless customer generates $30 in monthly commissions.[11] Interactive Brokers also provides for trading of foreign currencies and securities as well as futures contracts.[12]
Lightspeed $4.50[13] $0.60 / contract, $1.00 minimum[13] $10,000+ account minimum, depending on account type[14]
Merrill Edge by Bank of America $6.95[15] $6.95 + $0.75 / contract[15]
PNC Financial Services $4.95[16] Not offered[16] Primarily targets managed accounts.
Robinhood $0[17] $0[18]
SoFi $0[19] $0 / contract[19]
TD Ameritrade $6.95[20] $6.95 + $0.75 / contract[20] Free real time quotes are for non-professionals only.[21]
TradeStation $5.00[22] $5.00 + $0.50 / contract[22] $500 account minimum.[23][24]
U.S. Bancorp $8.95[25] $8.95 + $1.00 / contract[25]
USAA $8.95[26] $8.95 + $0.75 / contract[26]
The Vanguard Group $7[27][28] $7 + $1.00 / contract[28] $20.00 annual account fee; waived for account holders with electronic statement delivery or $10,000+ value[29]
WellsTrade by Wells Fargo $2.95-$5.95[30] $5.95 + $0.75 / contract[30]
Brokerage Stock & ETF trade
commission[a][b]
Options trade
commission[a]
Notes

Notes[edit]

  1. ^ a b c d Does not reflect volume discounts and promotions. Many brokerage firms do not charge commissions on purchase and sale of mutual funds and ETFs. Excludes regulatory transaction fees payable to the U.S. Securities and Exchange Commission.
  2. ^ a b For an individual taxed investment account.

References[edit]

  1. ^ a b "Ally Invest Legal Disclosures - Ally Invest". Ally Financial.
  2. ^ a b "Charles Schwab: Fees & Minimums". Charles Schwab Corporation.
  3. ^ "Fee Schedule for Self-Directed Investing Accounts" (PDF). Chase Bank.
  4. ^ a b "E*TRADE Fees and Rates - Pricing for Investing & Trading". E-Trade.
  5. ^ a b "Trading Commissions and Margin Rates". Fidelity Investments.
  6. ^ "Fidelity Mutual Funds". Fidelity Investments.
  7. ^ a b "Firstrade: Pricing". Firstrade Securities.
  8. ^ a b "Commissions - Fixed". Interactive Brokers.
  9. ^ "Interactive Brokers: Lowest Margin Rates". Interactive Brokers.
  10. ^ "Interactive Brokers: Account Minimums". Interactive Brokers.
  11. ^ "Market Data Pricing Overview". Interactive Brokers.
  12. ^ "Commissions: Futures". Interactive Brokers.
  13. ^ a b "Lightspeed: Commissions". Lightspeed Financial.
  14. ^ "Lightspeed: Funding Information". Lightspeed Financial.
  15. ^ a b "Low Pricing. Plain and Simple". Merrill Edge.
  16. ^ a b "Client Schedule of Commissions & Fees" (PDF). PNC Financial Services.
  17. ^ "Trading Fees on Robinhood". Robinhood.
  18. ^ "Free Options Investing". Robinhood.
  19. ^ a b "SoFi Invest". SoFi.
  20. ^ a b "Online Trading Pricing". TD Ameritrade.
  21. ^ "Trading Tools and Platforms". TD Ameritrade.
  22. ^ a b "TradeStation - New Simplified Low-Cost Commission Pricing". TradeStation.
  23. ^ "TradeStation: Accounts". TradeStation.
  24. ^ "General Account Questions Archives". TradeStation.
  25. ^ a b "US Bank: Schedule of Commissions and Fees" (PDF). U.S. Bancorp.
  26. ^ a b "Brokerage Trading Commission Rates". USAA.
  27. ^ "Vanguard ETF fees & minimums". The Vanguard Group.
  28. ^ a b "Vanguard Brokerage trading fees & commissions". The Vanguard Group.
  29. ^ "Annual account service fees". The Vanguard Group.
  30. ^ a b "WellsTrade® Commissions and Fees". Wells Fargo.