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7/3/2009
Friday morning
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| Nayee Dillee, Feb. 11 (PTI) - The Securities and Exchange
Board of India (SEBI) today imposed additional margins in
cash on the top 25 stock-brokers of the four major
exchanges following the unprecedented rise in stock
prices. |
| Schwab One (1-800-E-SCHWAB) (http://www.eschwab.com):
Charles Schwab (1-800-540-9874) (http://www.schwab.com):
After January 15, 1998, all Schwab accounts will be able to access
both eSchwab and broker assistance with the rates listed below.
Commission (online): $29.95 for up to 1000 shares, then .03 per share;
$149.95 for 5000 shares.
Broker-assisted: start at $39-$55 for 100 shares, go up into
the hundreds ($265 for 5000 shares @$20; $705 for 5000 shares @$100).
Options: $37.50 + $1.75 per contract and up (based on value); $39
minimum.
Margin rate: 7 1/4% to 9 1/4% (high).
Money fund yield with sweep: 5%.
Account minimum: $5000 (online); otherwise, no minimum; $2000
(margin).
Mutual funds: 1400+ funds @ $0-$39; 1050+ for no fee.
IRA annual fee: free for $10,000+ accounts, otherwise $29; setup free;
closing fee not known.
Real time quotes: 100 free for each trade + 100 free on opening
account.
Restrictions/warnings: Lots of odd charges: $6.95 shipping for free
E-Schwab softwa. |
| The market regulator has also advised the BSE, NSE, Delhi
Stock Exchange and Calcutta Stock Exchange to impose ad
hoc margins on stock-brokers and special margins for
volatile scrips, SEBI Chairman D R Mehta said. |
| Sunlogic Securities (1-800-556-4600) (http://www.sunlogic.com):
Limit orders (listed): .02 per share, $35 ($32 + $3 fee) minimum.
Limit orders (Nasdaq): $35 ($32 + $3 fee) for any number shares.
Market orders (Nasdaq): $15.99 for any number of shares.
Market orders (listed): .02 per share, $15.99 minimum; $15.99 for 800
shares; $100 for 5000 shares.
Penny Stock: $33 + 4% of principal; $37 ($34 + 3 fee) minimum.
Broker-assisted: $35 ($32 + $3 fee) for Nasdaq, .02 per share for
listed ($35 minimum).
Options: 1.6% to .3% of principal OR $6-$2.50 per contract; $37 ($34 +
$3 fee) minimum.
Account minimum: $2000.
Real time quotes: $29.95 per month.
Perks: market news, quotes, charts, and free checking.
Restrictions/warnings: $5 extra for GTC orders.
Comments: Sunlogic has an extremely complicated (and, on the web, not
too clear) commission schedule; better check their web site for latest
details. |
| Accutrade (1-800-494-8949) (http://www.accutrade.com):
Commission (online & touch-tone): $28 plus 2 cents per share; $30 for
100 shares. $128 for 5000 shares.
Broker-assisted (phone): $7 extra.
Options: $1.50 - $8.00 per contract (minimum $35).
Margin rate: Brokers call + 1% to 2% (high).
Account minimum: $5000.
IRA annual fee: free.
Perks: Stop limits on options available. Screening program: you can
screen stocks on the basis of some 18 variables. Wide variety of
no-load mutual funds available at $27 per trade, and some no-fee
funds.
Overall service rating: very good to excellent.
Comments: You can trade by telephone, automated phone system, Zaurus
personal assistant, or fax. Online trading requires special software,
which Forbes among others has given a glowing review. Accutrade gives
good, solid support. . .on the Net I have never had a problem getting
access. Trades are confirmed within a few minutes max. Ive had no
problems at all. An extremely impressed client says. |
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