Although I am a big support of the Efficient Market Theories (more on this and index mutual funds later) and that you cannot beat the market long term by buying and selling individual stocks, I do believe it is healthy to commit some “play” money to this activity. If you feel the same way, the broker’s below can help you out!
1. Sogotrade – Sogotrade is a division of Genesis Securities (a member of the NYSE). They offer some of the lowest trading fees available at $3/trade and only a $500 minimum account balance. Free to open an account!
Sogotrade.com – Account Sign Up
SogoTrade Commission Schedule
- Equity Trades
-
| Online (market or limit)* |
$3
Unlimited shares * |
| Broker-Assisted ** |
$27
Unlimited shares ** |
- Option Trades
-
| Online |
$5.00 plus 65¢ per contract |
| Broker-Assisted ** |
$27.00 plus 65¢ per contract |
| Options exercise/assignment |
$15 |
| Account minimum |
$500.00 |
| Electronic funds transfers |
Unlimited / free |
| Inactivity fees |
None |
| Subscription fees |
None |
- 2. Zecco Trading – Zecco used to offer free share trading, but they recently ceased that and increased the price per trade for market orders to $4.50. So, it is still very discounted. The account details are shown below.
Click on the following link to open an account:
Zecco Trading: Get $4.50 Stock Trades
Invest the smart way with Zecco Trading. Stock trades cost just $4.50. Get 10 free trades per month with a $25,000 balance or 25 trades/month. No account minimums or inactivity fees. Member FINRA/SIPC.
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Equity Trades
Equity trades include stock and ETFs (Exchange Traded Funds). With Zecco Trading, you get 10 free stock trades every month when you maintain a $25,000 net equity balance or execute at least 25 trades each month (paid or free). Otherwise it’s just $4.50 per trade. See details. (Note: There are transactional fees on sell orders in the free trades.)
|
Zecco Trading |
E*Trade |
TD Ameritrade |
Scottrade |
OptionsXpress |
| Internet |
Free |
$12.99 |
$9.99 |
$7.00 |
$14.95 (0-8 trades per quarter)
and $9.95 (9 trades + /quarter) |
| Broker Assisted |
$19.99 |
$12.99
(+$45.00) |
$44.99 |
$27.00 |
$9.95 |
Account Minimum & Inactivity Fees
|
Zecco Trading |
E*Trade |
TD Ameritrade |
Scottrade |
OptionsXpress |
| Inactivity fees |
None |
$40.00 per/quarter
after first year |
None |
None |
None |
| Account Minimum (1)
|
None |
None |
None |
$500 |
None |
