Online Broker Comparison

Below you will find a chart that I have produced to provide an Online Broker comparison. All of the prices shown are for "Stock Trades" unless otherwise noted. Additional Fees may apply for things such as OTCBB stocks (Pink Sheets) among other things. See each individual brokerage firms' website for current details.

Broker	Minimum To Open Account	Online Commissions	Notes
Fidelity	$2,500.00	$7.95	Excellent Research Tools Discounts available for Active Traders Excellent Backtesting available
Interactive Brokers	$10,000.00	$.005 per share Minimum Commission $1.00 Maximum Commission: 0.5% of trade plus fees	See website for various commission examples Many advanced capabilities available
Schwab	$1,000.00	$12.95 for first 1000 shares plus $.015 per share thereafter	Reduced commission of $8.95 available once specific #trades or account balance criteria are met.
Scottrade	$500.00	$7.00	Broker Assisted Trades: $27.00 Free Dow Jones News
TD Ameritrade	$2,000.00	$9.99	Broker Assisted Trades: $44.99 Additional Benefits for Upgraded "Apex" qualified accounts.
thinkorswim	$3500.00	Per Share Commission $.015 per share ($5.00 minimum) OR Flat Fee Trading $9.95 per trade (market or limit orders; 5,000 shares maximum)	$39.95 rebate per month available every time you place 40 or more trades in a month.
	None		Broker Assisted Trades are the same price
TradeStation	$5,000.00	First 500 shares $.01 per share, $.006 per share thereafter. Or Flat Fees based on monthly trades: 1-9 Trades: $9.99/trade 10-29 Trades: $7.99/trade 30 or More: $6.99/trade	Additional Trading platform Fee of $99.95/month unless you trade 5000 or more shares in the previous month, then $0 Platform fee. Excellent backtesting and trade automation capabilities.
Zecco.com	None		Broker Assisted Trades are $19.99 per trade.

Be sure to check each individual Brokers website for information that may have changed, for any updates, special promotions and complete fee schedules. All of the information shown in this online broker comparison has been taken from each brokers website.

I personally have used TD Ameritrade, Fidelity, Zecco and Interactive Brokers for my own trading accounts in the past and currently am using Fidelity Active Trader Pro for most of my trades. You should use the broker that you feel comfortable using their products and services. If you become unhappy at any time, you can always switch to another broker.

When doing an online broker comparison for yourself, it is a good idea to compare the costs on an annual basis based on the estimated number of trades you think you will be making. This could potentially save you a lot of money at the end of each year.

Also remember that cost should not be the only consideration. The capabilities available with each trading program should also be considered based on what you will be using.

This may not be a big concern to you if you are new to trading, but you should be aware that there are many options available. Most brokers have screenshots or DEMO's of their trading programs available for you to try.

Another thing to keep in mind when doing an online broker comparison is that if a broker has several commission plans to choose from, there is usually a difference in the speed of order execution as well. Be sure to check as a slower order exection time quite often will not make up for the initial cost savings.

Many brokers will also negotiate commission amounts based on the number of trades you make or match your current brokers fees if applicable, be sure to ask.

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