Folks, I'm totally new at this. I executed my first trades a few weeks back, and was somewhat surprised that they cost me closer to $20 per rather than the advertised $7.95. Am I the only one that's encountered this? Did I do something really foolish. Is there a brokerage that really does cut a trade for the advertised $7.95? Anyone got answers or similar experiences to share? -j
E*Trade never advertized that they offer $7.95 trades. You should probably take a few minutes to read the commission schedule on the home page. It clearly states that market orders for NYSE stocks cost $14.95, while limit orders for NYSE and market/limit orders for NASDAQ stocks cost $19.95. They offer rebates on trading commissions for active traders who place 30+ trades per quarter. Commissions for options, bonds, and mutual funds are available at the following link. This info is available from the E*Trade home page by clicking on "About E*Trade" and then "Low Commissions and Rates".http://www.etrade.com/cgi-bin/gx.cgi/AppLogic+About?gxml=hpc_disc_margin_c.html&lvl=aboutThere are other brokerages who offer lower commissions (e.g. Scottrade, Datek, Ameritrade, TD Waterhouse) for trade execution. E*Trade's commissions are considered middle-of-the-pack when compared to Schwab, Merrill Lynch, Morgan Stanley, and Fidelity. Investigate what features each brokerage offers and which are important to you. Please be sure to ALWAYS read the fine print before you open any brokerage account.Paul
Actually, E*TRADE prominently advertises $4.95 (not $7.95) trades -- but you have to make 75 or more trades per quarter to get that rate.There are several OLBs offering market order trades under $10. I have had luck so far with Scottrade ($7 market/$12 limit).TraderJack
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