Tuesday, April 24, 2012

Comparing Brokerages

I haven't written about online brokerages in a while now. The landscape for online brokers is constantly changing. Nevertheless, I wanted to present to my readers a comparison of some of the major online brokers out there.

Since I am mostly interested in stock trades (as opposed to options, mutual funds, or bonds), I have compiled a list of brokers sorted by the commission that they charge for stock trades. Using this handy table, readers can see the comparison, as well as any bonus offers that are currently being offered for new accounts:

BrokerageStock Trade CommissionSpecial Offers and Bonuses
Options House$3.95Free Dell Monitor, Free Morningstar Investing Newsletters, free one-year subscription to FT.com
Options Xpress$8.95get $100 when you open an optionsXpress account
TD Ameritrade$9.99

I have confirmed the commissions with each brokerage (as of 4/23/12). Personally, I have accounts with TD Ameritrade, E*TRADE, and OptionsHouse. A while back, I got a free Dell Monitor by opening an OptionsHouse account. The OptionsHouse Free Kindle Fire offer also looks good to me, but is no longer available.

I also requested information from Scottrade, but never opened an account at Scottrade.com. If anybody has their opinions on these brokers, please share them here.


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