Companies Like TD Ameritrade, Charles Schwab and Fidelity

Broker Fees Stock/ETF
Commission
Mutual Fund
Commission
Options
Commission
Maintenance
Fee
Annual IRA
Fee
Firstrade $0 $0 $0 + $0 per contract $0 $0
Ally Invest $4.95 $9.95 $4.95 + $0.65 per contract $0 $0
Charles Schwab $4.95 $76 ($0 to sell) $4.95 + $0.65 per contract $0 $0
Fidelity $4.95 $49.95 $4.95 + $0.65 per contract $0 $0
Tradestation $5 $14.95 $5 + $0.50 per contract $0 $0
TD Ameritrade $6.95 $49.95 $6.95 + $0.75 per contract $0 $0
Etrade $6.95 $19.95 $6.95 + $0.75 per contract $0 $0
Vanguard $7-$20 $8-$35 $30 + $1.50 per contract $20* $20*


Recommendations

If you are beginner in online trading, then Ally Invest is the best place to open brokerage account. read full Ally Invest Review.

Firstrade is the best investment firm for bargain seekers that need the lowest price, and a great selection of commission-free ETFs - 700 in total. Read full Firstrade review.

Open account with TD Ameritrade, if you only want to invest with one of the most recognizable, safest and largest discount brokerage firms in the country. Read full TD Ameritrade Review.



Brokerage Firm Safety

There are hundreds of online brokerage firms to pick from, each with their own tools, pricing, and investment selection. However, having the least expensive trading fees or the latest tools are not the telltale sign of a good, legit brokerage. Although, trading can be risky, every investor wants to feel safe about a brokerage firm he chooses for investing his hard-earned money. There is no need to be concerned about legitimacy and safety of the brokerage houses on the following list of companies. All online brokerage below are a select group of top legit, non-scam firms in today’s market. All brokers are members of FINRA, or/and SIPC, or/and NFA.

Just like FDIC covers all types of bank deposits, Securities Investor Protection Corporation (SIPC), in the event that a broker fails, provides insurance coverage up to $500,000 of the customer's net equity balance, including up to $250,000 in cash.

FINRA's (Financial Industry Regulatory Authority) mission is to protect investors by making sure the United States securities industry operates fairly and honestly.

The NFA (National Futures Association) oversees and protects investors from fraudulent commodities and futures activities.



Charles Schwab IRA Review

There are so many different strategies used in retirement planning it's hard to understand which one will work best for you. There is no substitute for detailed research paired with advice from a professional financial planner, but working with a trained professional, such as the ones at Charles Schwab or companies like Fideity, Etrade and others can get you started on the path to financial security.

Traditional IRAs, Roth IRAs, Rollover IRAs, Custodial IRAs and Inherited IRAs are offered by Schwab. A minimum deposit of $1,000 is required to open any type of IRA except Custodial which required an initial deposit of $100.

There are no fees to maintain your retirement account which is a good change from companies who like to nickel and dime clients for every thing. There are no minimum investments amounts if you choose one of Schwab mutual funds. This is a great way for those just starting out on their nest egg to get a feel for the market.


Brokerage Service and Trading Commissions

Charles Schwab offers easy to use online screens that are well designed, and their website delivers. It offers powerful research tools to help quickly find the information users are looking for. Schwab's customer service is excellent and it is always rated it the top in all investor surveys.

When it comes to commissions on investing Charles Schwab is definitely cheap. Stock and exchange traded funds (ETFs) will cost clients $4.95 per transaction.

Charles Schwab offers some mutual funds at no fee. At first glance looks like an appealing option to add these funds to one's IRA with little to no fees, but after researching you'll find that some of the more common and better performing funds are not on the list of no-fee trades. If you choose to invest in one of the funds not on Charles Schwab no-fee list, you will be charged the highest commission of all online brokers - $76. To compare: TD Ameritrade charges $50, Etrade - $20, and Ally Invest $10 for the same transactions.


Disclaimer

Information about other companies like Etrade, Ally Invest, Fidelity, Vanguard, Charles Schwab, TD Ameritrade for online stock brokerage account can change at any time. Visit their website for the mosr recent info.


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