Below you will find a list of online brokers that offer a very low rate per share commission structure. If your typical trade size is less than 1,000 shares you should consider switching to a rate per share commission structure.
The easiest way to improve your trading performance is to reduce your operating cost.
If you trade small lots less than 1,000 shares and are paying flat commission rates, take a look at your monthly statements and figure out how many shares you traded and how much commission you paid for a given month. Take the ( total commission paid in the month ) divide by ( Total shares traded in the month) and this equals the rate per share you are currently paying . Compare your current rate per share to the $.005 rate being charged by the brokers below.
Interactive Brokers (IB) Review: Commissions, Fees and Investments Offered 2011
- Stocks and ETFs: $0.005 per share with $1 minimum per trade for SMART routed orders
- Options: $0.70 per contract plus exchange fees
- Mutual funds: $14.95 per transaction
- Investment products: stocks, options, ETFs, bonds, futures, currency transactions
- Minimum to open account: $10,000
- All Interactive Brokers fees and margin rates
Lightspeed Trading Review: Commissions, Fees and Investments Offered (2011)
- Stocks and ETFs: $.0045 per share, plus/minus Market Center Fees, $1 minimum per trade
- OR $4.50 per order, plus/minus Market Center Fees
- OTCBB and Pink Sheets: $10 per order, plus/minus Market Center Fees
- Options: $0.60 per contract, no minimum/no order charges
- Futures: $0.60 per contract, no minimum/no order charges plus exchange fees
- Investment products: stocks, options, mutual funds, bonds, futures, ETFs
- Minimum to open account: $1000 for Web Trader, $10,000 otherwise
- All Lightspeed Trading fees and margin rates
TradeStation Review: Commissions, Fees and Investment Products (2011)
- Stocks and ETFs Per-Share Plan: first 500 shares $0.01 per share, $0.006 per share thereafter, $1 minimum per trade
- Stocks and ETFs Flat-Rate Plan: 1 to 9 trades/month – $9.99/trade; 10 to 29 trades/month – $7.99/trade; 30 or more trades/month – $6.99/trade
- Options: $1 per contract with no ticket charge and no minimum
- Futures: 25ยข – $1.20 per side, per contract + exchange, regulatory & overnight fees
- Mutual funds: $14.95
- Bonds: $14.95 plus $5 per bond
- T-Bills: equities – $50, futures – $10
- OTCBB: $9.99 (100,000 share position maximum)
- Pink Sheet Stocks: $9.99 (100,000 share position maximum)
- Investment products: stocks, options, mutual funds, bonds, futures, T-Bills, OTCBB, Pink Sheet Stocks, Forex, ETFs
- Minimum to open account: $5,000 for non-daytraders and $30,000 for daytraders
- All Tradestation fees and margin rates
