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Sunday, August 30, 2009

All Different Brokerage Trading Fees

By Charles Benedict

In the modern world of advanced technologies, stock brokers are becoming increasingly cheap. However, cheap doesn't mean the same. Here are some of the more popular brokerages and what they charge.

OptionsHouse made a splash with their less than three dollars stock trade. If there is a cost that's as close to nothing as possible, this is the broker that you should choose.

Zecco came out with free stock trades, but then it changed its rules again and again. These days, you only get 10 free trades if you have more than $25,000 in assets or if you trade 25 times or more a month.

OptionsXpress is pretty awesome because they are a great options broker. However, their stock trades are $14.95 which is pretty high. This one is for those that don't mind paying a little extra for a good broker.

Wells Trade offers 100 free trades a year for those that have a combined $25,000 assets with them. For those that already have a Wells Fargo account, this isn't a bad option. However, just bare with the less than spectacular trading platform.

TradeKing made a splash with its less than five dollar trade. Although many people already have cheaper trades, the price that this broker offers is still one of the best out there and worth a look.

Etrade was once the best broker out there but with many cheaper alternative and its mortgage troubles, the company isn't the powerhouse that it once was.

Scottrade thrives on their customer support, and it also has the most branches. The stock commission is $7 a trade and it's middle of the road in terms of prices.

TradeMonster may be new to the game but it's backed by celebrities like Guy Adami and the Najarian Brothers on Fast Money. It's no wonder that they are quickly becoming a strong force in the industry.

The highest end stock broker in this list is Charles Schwab. While stock trades are $12.99, they do offer a 2% cash back credit card which makes up for some of the stock commissions.

I don't really like TD Ameritrade but it works fine. Their stock commissions are $9.99 a trade and they have no hidden fees to boot. This option is fine, but it's not one I recommend. - 23212

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