In late April new commissions and margin rates will be coming. Currently, Ameritrade commissions are $10.99 for market or limit orders from 1 share to 1,000,000+ shares. Nice and simple. TD Waterhouse has a multi-level fee structure that generally charges from $9.95 to $11.95 for market orders and $3.00 additional for limit orders from 1 share to 2,500 shares. After 2,500 shares the commission rate doubles. e.g. 5,000 shares limit order would be $11.95 + $3.00 + $25.00 or $39.95. So for instance, it is actually less expensive to give them more work to perform by executing two separate orders. For penny stock players these commissions are unworkable. So what's in store for Ameritrade clients? Are the fees going thru the roof now to match those at TD Waterhouse? Throwing out the penny stock players along the way? What about margin rates? Ameritrade is about 8.25% which for fully secured and liquid debt seems high to me. I don't know what TD Waterhouse margin rates are.