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The Lowdown on Trading Online
BROKER/INTERNET COMMISSION*
(HTTP://)/PHONE MUTUAL FUNDS/FEE** COMMENTS
AMERITRADE $8 Dirt-cheap commissions,
www.ameritrade.com 7,000/$0-18 but next to no research.
800 669-3900
BROKERAGE DIRECT $14.95-19.95 Slick site can be customized.
www.discoverbrokerage.com 3,500/$0-25 Sophisticated charting and
800 347-2683 real-time data.
CHARLES SCHWAB $29.95-89.95 If Web is down, backup service
www.schwab.com 1,500/$0-35 includes 24-hour brokers,
800 435-4000 branches, and phone help.
Big customers get IPOs from
Salomon Smith Barney.
DLJDIRECT $20-60 A $100,000 account gives you
www.dljdirect.com 6,000/$0-35 access to DLJ research and IPO's.
800 825-5723
E*TRADE $14.95-19.95 Research from Briefing.com and
www.etrade.com 3,500/$0-24.95 BancAmerica Robertson Stephens.
800 786-2575
JACK WHITE $25 Broad product menu includes
www.jackwhiteco.com 6,700/$0-24 innovative matching service,
800-216-2333 albeit only for San Diego
companies at this time.
LINDNER.FARSIGHT $7 Cheapest commissions, low margin
www.lindnerfunds.com 6,500/$0-7 rates. Beware the exit fee for
800 830-7483 IRAs.
Lets you pay your bills online.
NET INVESTOR $19.95-49.95 Sophisticated account data. Easy
www.netinvestor.com 3,000/$35-60 access to live brokers, but hidden
800 638-4250 fees can add up.
QUICK & REILLY $14.95-19.95 Strong research. Broad menu
www.quick-reilly.com 2,600/$0-25 includes ADRs, junk bonds, and
800 837-7220 options.
SURETRADE $7.95 Quick & Reilly's deep-discount
www.suretrade.com 2,600/$0-25 sibling requires no minimum
212 566-2031 balance, offers free IRAs.
WEB STREET SECURITIES $14.95 For $50 a month you get NASDAQ
www.webstreetsecurities.com 3,800/$25 quotes showing tick-by-tick prices
800 932-8723 and pending orders from market
makers. No fee on NASDAQ trades of
1,000 shares or more.
WATERHOUSE $12 A lot of service and few hidden
www.waterhouse.com 6,600+/$0-25 fee but $45 commission for phone
800 555-3875 orders is steep.
*Some firms advertising flat commissions still assess an extra charge for
trades over 1,000 or 5,000 shares.
**Transaction fee in addition to any loads. Some brokers charge no transaction
fee for certain funds, although their management fees may be higher to
compensate.
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Updated May 14, 1998 by bwwebmaster
Copyright 1998, by The McGraw-Hill Companies Inc. All rights reserved.
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