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As of 1/30/2008
  Schwab Fidelity E*Trade
Market Orders $14.95 $12.95i $19.95i $12.99i
Limit Orders $14.95 $12.95i $19.95i $12.99i
Broker Assisted $29.95 37.95 $55.00+xiii $57.99+xxv
Shares Before Premium 2500 1000 1000 2000ii
Per Share Premium $.01 $.015 $.015 $.015ii
Inactivity Feesiii $50 None Nonev $160.00vii
Margin Ratesxxiii 8.00%xxiii 10.25%xxiii 9.325%xxiii 8.49%xxiii
Real-Time Level II Quotes $24.95xxiv Reservedix Reservedix $21.99xi
Access to IPOs and Secondariesxv Yes Reservedxvi Reservedxvii Restrictionsxix
* All data is based on phone surveys and information gathered over the internet on 1/30/2008. The rates are subject to change at any time without notice and FBRDirect is not to be held liable for any data incorrectly stated here. All copyrights and trademarks are property of their prospective owners.
i - Rates may vary depending on type or classification of account
ii - For securities listed on a national exchange.
iii - Inactivity fees refer to any maintenance fee a broker may charge due to a transaction or asset minimums. Fees are charged either quarterly or annually. The fees listed in the chart assume not meeting annual minimums for trading or asset level
v - Fidelity does charge an annual fee for each mutual fund position that has less than $2,000 in value
vii - E*Trade charges $40.00 per quarter
ix - Real-time level II quotes reserved for active traders
xi - Reserved for active traders only
xiii - Fidelity's Broker Assisted fees also charge you $.14 per share for each share over 100
xv - IPOs are high-risk, speculative investments and may not be suitable for all investors
xvi - Schwab reserves its allocations to its premier accounts with at least $100,000 in assets or actively traded with at least 36 times a year
xvii - Fidelity reserves allocations to accounts with $500,000 in assets, or members of it’s Premium Services, or have placed 36+ trades in a rolling 12-month period and $2,000 in cash or fully paid securities
xix - E*Trade allows eligible accounts to participate in their IPO offerings but restricts accounts that have "flipped" IPOs.
xxiii - Margin Rates are based on balances between $0 and $9,999
xxiv - Monthly fee can be waived for active traders. Fee includes all exchange fees.
xxv - Based on $45.00 fee + a $12.99 commission
 

 



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