Best Online Broker Commissions, Fees and Margin Rates

[ExGingi]

The field keeps on changing for online stock and option brokers with lots of M&A activity amongst the discount brokers.

I've had an account with OptionsHouse due to their low commissions and margin rates, but then they merged with TradeMonster, they more or less let me keep my commission schedule, but raised margin rates, now they are owned by E*Trade.

I also have a Schwab account (solo 401k) that started off with $8.95 commissions and has been going down over the years. Recently Schwab has posted on their website that their commissions are down to $6.95 with satisfaction guarantee, however interestingly enough, a few trades a recently placed were only charged $5.95. Did anyone else notice $5.95 commissions on Schwab.com?

Lastly, while IB is the low cost leader, both on commissions and more importantly on margin rates, they are impractical for me due to the data and other fees (I am also not an "active trader").

And while PlaceTrade.com might have been a viable alternative (seems like they use the IB platform with similar low rates), they don't currently open accounts for NY residents.

What's the best online discount broker you use, based on commissions, fees and margin rates?

[KidOOO]

If you are just looking to buy and sell stocks Robinhood is free, although can only be done via app. I have an account with them for over a year and for that purpose it's great

[ExGingi]

If you are just looking to buy and sell stocks Robinhood is free, although can only be done via app. I have an account with them for over a year and for that purpose it's great

I don't see that they offer options trading.

Margin rate seems to be 5.0% across the board, but doesn't seem like one can take a cash margin loan, only use it to expand buying power.

Also, do they allow trading in Canadian listed stocks with OTCBB symbols?

[ExGingi]

I guess competition is heating up. Just a short while after reducing their stated commissions to 6.95, here comes another reduction to $4.95!

http://pressroom.aboutschwab.com/press-release/schwab-fundslaudus-funds-news/schwab-reduces-trade-commissions-495-and-lowers-contract

[12HRS]

I guess I should have posted here.

Competition is good.

http://www.reuters.com/article/us-funds-fidelity-commissions-idUSKBN1670DV

[ExGingi]

I guess I should have posted here.

So given that commission schedule seems to be the same, which is better, Schwab or Fidelity?

[coralsnake]

I use TradeKing- $4.95 stock trades.
$4.95 base + 65c per contract on options.

I started with them when they were Zecco at $0 commissions but then Zecco was bought by TradeKing. Now TradeKing was bought by Ally. Don't know yet if that's going to change their commission structure but all indications at this point is that they're staying where they are.

I have no love for TradeKing except that their prices are cheap and the trades go through.

I have an IRA with Scottrade which I really like. Great customer service when I (rarely) need it. They also have much better tools to use for research and quotes. No maintenance fees on the IRA and $7 per trade.

[ExGingi]

I use TradeKing- $4.95 stock trades.
$4.95 base + 65c per contract on options.

I started with them when they were Zecco at $0 commissions but then Zecco was bought by TradeKing. Now TradeKing was bought by Ally. Don't know yet if that's going to change their commission structure but all indications at this point is that they're staying where they are.

I have no love for TradeKing except that their prices are cheap and the trades go through.

I have an IRA with Scottrade which I really like. Great customer service when I (rarely) need it. They also have much better tools to use for research and quotes. No maintenance fees on the IRA and $7 per trade.

Now that Schwab lowered their commissions to $4.95 (+ 0.65 per contract, if trading options), and has many ETFs and Mutual Funds (including some which are load funds elsewhere) available with no commission, fee or load, and due to the fact that OptionsHouse (now owned by E*Trade) now longer offers competitive margin rates they did when I signed up with them, I am seriously considering moving my accounts which are currently with OptionsHouse over to Schwab.

BTW, there's also an issue of product availability and extra fees on Canadian stocks which trade using a OTCBB proxy - extra fee, or inability to trade or even hold with OptionsHouse.