I am trying to streamline my investments and one of the items on my agenda is to consolidate my banking accounts. Here's what I want from my new institute ...
- Free/cheap basket or bucket trading
- Umbrella institute for checking/saving/trading accounts
- Support stocks/options/mutual funds/IRAs
I currently have account with Fidelity that comes close to what I need, but not close enough. So, here is an up-to-date (as of 4/30/2008) comparative chart on the institutes that meet one or more of these criteria...
| Zecco Trading | Bank of America | Wells Fargo | |
| Free Trades Limit # | 10/day, 40/month | 30/month | 100/year |
| Free Trades Minimum to Qualify $ | 2500 | 25000 (uninvested) | 25000 (combined) |
| Stocks Penny Stocks $ | 0 | 0 | Greater of $24.95 or 2.5% of principal |
| Stocks Max Margin Rate (on 4/30/2008) % | 7.2 | 7.5 | 7.75 |
| Stocks Broker Assisted $ | 19.99 | 42.5 | 25 |
| Options Trade $ (contract $) | 4.50 (0.50) | 19.95 (1.50) | 9.95 (1.00) |
| Options Broker Assisted $ (contract $) | 19.99 (0.75) | 39.95 (1.75) | 34.95 (1.00) |
| Mutual Fund NTF # | 800 | ||
| Mutual Fund No Load Internet $ | 10 | 45 (minimum) | 0 |
| Mutual Fund No Load Broker Assisted $ | 19.99 | 45 (minimum) | 25 |
| IRA Annual Fees $ | 30 | 0 | 0 |
| IRA Termination Fee $ | 30 | 75 | 50 |
| Outgoing Account Transfer (ACAT) Fees $ | 50 | 75 | 50 |
| Fees Web Site | Fee Schedule | Fee Schedule | Fee Schedule |
Hope that helps.
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