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1/5/2009
Monday morning
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Topics taken from open source list. I hope you find this useful.
This site is for our clients only as an information resource.
| Kennedy-Cabot (http://www.stockup.com/quote/cabot.sht)
(1-800-252-0090):
Commissions: start at $33 ($30 + $3 fee) for 100-600 shares, then they
go up: $83 for 1600 shares @5.
Odd Lots (1-99 shares): $23 ($20 + $3 fee).
Options: $30 + $1.50-$3.00 per contract.
Margin rate: Brokers call +0% to 1/2% (very low).
Money fund yield with sweep: 4.71%.
Account minimum: not known, $2000 (margin).
Real time quotes: by touch-tone phone.
Perks: 392 no-load no-fee mutual funds; others at $25.
Overall service rating: good.
Comments: Founded in 1960. No online service yet. Customers have
offered mixed comments. Service is good. Will negotiate lower
commissions for good customers. In five years, I have never had a
problem. They will not confirm time and stamp of fill, and his
options orders have not been knowledgeably handled. But one happy
buyer says: They charge $23 for any odd lot [and will send] the
certificate to you at no additional charge. Im fed up with
Kennedy-Cabot. [I was] put on ho. |
| 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 . |
| 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. |
| 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. |
| 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 ($82.40 for 100 shares @40), 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).
IRA annual fee: free; setup and closing fees 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 software; $5 to transfer funds between Schwab & E-Schwab;
$7.50 per quarter; $5 per month. |
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