Feb 02 2009
Low Cost Stock Brokers
I recently wrote that Zecco would be changing their minimum balance requirement for receiving free trades in March. I plan to keep my Zecco account but it still makes sense to see what alternative low cost stock brokers are out there.
Here are a few low cost stock brokers that have come to my attention. I do not have an account with any of these companies so I can’t provide a personal recommendation.
Wellstrade from Wells Fargo offers 100 free trades a year if you keep a balance of $25,000 or more. There are also some additional requirements. Based on my experiences with the Wells Fargo bank I would pass on this one.
Interactive Brokers offers trades for $1.00 per 100 shares with a minimum balance requirement of $10,000.
Sogo Trade has $3 trades with a $500 minimum.
Just2Trade has $2.50 trades with a $2500 minimum.
Bank of America offers 30 free trades per month if you keep a combined balance of $25,000 or more in your Bank of America deposit accounts.
There are probably some more low cost stock brokers out there that I am not aware of but that should give you some options to consider.
