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Tuesday, September 8, 2009

The Cheapest Stock Discount Trading Commissions

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.

The reason why many people are looking at OptionsHouse is due to its cheap stock trades. If you are looking for a trading platform that works and is cheap, look no further.

Zecco revolutionize the industry with free stock trades. Although they've changed their rules, and pissed off many customers, they are still one of the few stock brokers that still offer free stock trades to those who qualify.

While OptionsXpress is pretty expensive with a high commission rate, they don't have any hidden fees. If you trade less than 35 times a quarter, the commission is $14.95. For high volume traders, it's $12.95.

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.

The highest rated deep discount stock broker is TradeKing. The commission is $4.95 a trade and continues to be one of the cheapest per trade price out there.

Etrade has a special place in my heart because that's who I started with. The broker is solid and the pricing is $9.99 ($12.99 if you have less than $50,000 in assets).

Scottrade offers seven dollar trades, which isn't bad but not the cheapest. However, their customer support is second to none and they also have the most branches nationwide. In addition, they are the cheapest option that offers face to face interaction.

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.

Charles Scbwab is the luxury of discount stock brokers. They tailor their business to individual starting with $300,000 in assets and it shows. Their trading commission is $12.99.

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. - 23221

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