Welcome to our very first company profile and report!
We have researched all of the best stock brokers in the "deep discount" category, that are worth considering for a penny stock investor/trader. Use the table for a quick overview of commissions and fees. Details for each are listed below; use the links or scroll down to find the best stock broker that fits your personal needs. To make a suggestion for an addition, please email us. |
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- Stock Broker Comparison Table -- Stock Broker Details -ShareBuilder is a relatively new, and very unique online discount broker. Opening in 1999, ShareBuilder's CEO Jeff Seely made it his goal to let everyone participate in a market dominated by large brokerages. The Sharebuilder philosophy is based on three concepts: Discipline, Diversification, and Dollar Cost Averaging. Just recently, ShareBuilder merged with ING, and now the deal is even sweeter with $9.95 real-time trades! What makes their service unique, however, is the Automatic Investment Plan. You can schedule dollar amount trades for Tuesday of every week and pay a commission of $4 or less! This is a great feature for making longer term investments, allowing you to build your portfolio slowly and affordably. With no minimum funding or inactivity fees, opening a ShareBuilder account is a good idea even if you already have an online broker. That way you can take advantage of the extremely low fees for your longer term investments. ShareBuilder's contact info - phone: 1-800-747-2537 Web : See link below
Learn more about ShareBuilder and get a $50 bonus* by signing up for an account today! TDAmeritrade is one of the best known discount online brokers. Formerly Ameritrade and TD Waterhouse, the companies have now merged. Since the merge, things have only gotten better for traders. They now charge a flat $9.99 for all market and limit orders no matter the order size, or stock price - including OTCBB/Pinksheet penny stocks. There is also no minimum funding level to open an account, and NO Inactivity or Maintenance Fees no matter what your balance and trading activity level are. TDAmeritrade's contact info - phone: 1-888-871-9007, Web : www.TDAmeritrade.com Zecco is an online broker that is defying all others by offering FREE... yes, you read it correctly, free stock trades. They are able to do this by making their profits via interest on your money, as well as using ads on their site. Other brokers do the same, but still charge fees for each trade. Zecco offers up to 10 trades a month, completely free. After that you pay only $4.50 a trade. Even more, they now have NO minimum funding level, however, you will need a minimum of $2500 to qualify for free trades. For investors trading with small amounts of money, that don't need much customer service, Zecco is certainly a broker to consider. Setting up an account with Zecco can be a bit tricky, however, and if done incorrectly can lead to some headaches. Please read our brief guide to start setting up an account today, and start trading for free within a couple of weeks! Zecco's contact info - phone: 1-909-657-6655, Web : See link below
Scottrade is another inexpensive online broker. They charge $7 for both market and limit orders. There are no quarterly or annual fees, but there is a $500 minimum funding to open an account. The only issue with trading penny stocks with Scottrade is an additional fee for stocks under $1. In addition to the $7 commission, Scottrade charges an additional fee of 0.5% of the total stock value purchased. So if you spend $1000 on a stock, an additional $5 will be added to the $7 commission. For new investors trading small amounts, this won't be much of an issue. For larger trades, however, TDAmeritrade might be a better option. Scottrade's contact info - phone: 1-800-619-7283, web: www.Scottrade.com E*TRADE is a cheap broker that benefits active traders who don't need much support from customer service. E*TRADE charges $12.99 for both market and limit orders (lower for large and active accounts) - including penny stocks on the OTCBB/Pinksheets. You need at least $1,000 to open an account with E*TRADE. There is a $40 quarterly fee that is assessed mainly when an account is inactive (see Fees and Commissions for details). E*TRADE's contact info - phone: 1-800-387-2331, web: www.ETrade.com LowTrades is a basic discount broker with very low commissions of $4.95 per trade. An Inactivity Fee of $50 is charged for the two trading periods between January-June and July-December of each calendar year. To avoid inactivity fees, one executed trade must be completed during each trading period. There is no minimum account balance to sign up, unless you open a margin or a day trading account. Lowtrades' contact info - phone: 1-800-597-8767, web: www.LowTrades.com Trading Direct charges $9.95 for all market and limit orders up to 1 million shares - including OTCBB/Pinksheet penny stocks. There is no minimum opening balance required to start an account up. They do charge a $60 annual fee unless you make at least one transaction per year or meet one of several other requirements. See more details through the link below. Trading Direct does look a bit "bare bones" but it's low prices are attractive. Trading Direct's contact info - phone: 1-800-925-8566, web: www.TradingDirect.com
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Last Updated: 1/21/08
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