| Bidwell (1-800-547-6337) (http://www.bidwell.com):
Commission (online): about $6 less than regular; one customer says
100 shares of MSFT @ $22 Internet and $28 for broker.
Commission (regular): $21.25 ($20 + 1.25 fee) plus .05-.08 per share
up to 500 shares, then $30-$45 + .03 per share; $26.25-$29.25 for 100
shares; $60-$75 for 1000 shares; $180-$195 for 5000 shares.
Penny stock: 5% of principal ($21.25 minimum).
Options: $27 + $3.00 per contract.
Margin rate: 7.75%-8.75% (above average).
Account minimum: no minimum.
Real time quotes: free.
Perks: 281 no-load no-fee mutual funds.
Overall non-online service rating: very good.
Comments: Service reported as very good: I have been completely happy
with them.(4/9) A real person will talk to you with a minimum of
wait and electronic prompts.(4/19) Confirms trades on the phone.
One customer says that if you insist on high-quality service, their
commissions are pretty competitive. Executions have been good, no
price improvement though.. |
| Green Line Canada (1-800-667-6299) (http://webbroker.greenline.ca):
Commission: $39 in U.S. dollars and up; $29 (Can) for up to 1000
shares, then .03 per share (5000 shares cost $150).
Penny stocks ($2 or less in Canada): 1.5% of principal with $29
minimum.
Touch-tone: about the same as broker-assisted rates.
Broker-assisted: $43 US and up ($35 CAN + .005 to .06 per share) ($39
US + .02 to .08 per share).
Options: $35 CAN + $1.50-$3.50 per contract; online options get 20%
discount.
Comments: Founded in 1984. Mutual funds available. Operated by Toronto
Dominion Bank. |
| Frontier (1-800-777-2438) (http://www.ffutures.com/index.html):
Commission ($2+ stock): $33 ($29 + $4 fee) for up to 2999 shares of
any stock.
Commission (3000+ shares, $2+ per share): $4 fee only.
Commodities: $29 to $9 (plus $4-$10 fees) for a round turn, $29 (plus
$4-$10 fees) for options. $9 rate is for large/frequent trader
accounts. $10 extra commission on all option offsets.
Penny stock under $2, Canadian stock: same rate + .01 per share (+ .02
per share for limit orders).
Options: $33 ($29 + $4 fee) + $2.50 per contract.
Perks: over 6000 mutual funds.
Comments: One of the few firms (along with Jack White) to offer
commodities as well as stocks. Located in Cedar Rapids, Iowa. |
| Other high-cost discounters, about which there is very little
information and/or very little feedback:
(1) Washington Securities (1-800-843-9838): Commission $28 for up to
5000 shares. Options: not known. Margin rate: not known. Account
minimum: $10,000. Margin account required, and 25 trades per year
required.
(2) R.T.G. Richards (1-800-285-3500): Commissions $33 and up ($75 for
5000 shares).
(3) Midwood Securities (1-800-643-9663): Commission $36.50 for up to
5000 shares.
(4) York Securities (1-800-221-3154) (http://www.yose.com):
Commissions $35 and up ($133 for 5000 shares). York has introduced
Trading Direct, a new deep discounter listed above.
(5) StockCross (1-800-225-6196): Commissions $33.50 for 100 shares;
$161 for 1600 shares @5. Margin rate: Brokers call + 0% to 1% (low).
(6) Clark Financial (http://www.clarkfinancial.com)
(1-800-243-2207): Commission $36 + .03 per share ($39 minimum); $150
for 5000 shares. Penny stock: same rates (5% of principal maximum).
Options: $36 . |
| The move follows the continuous rise in stock prices
during the week with the BSE Sen crossing the 6000
magical mark today. The imposition of additional capital
will be effective from Monday. |
