I'm looking to transfer my stock investment acct (not for trading) to another broker. My current broker charges $7 per trade. I usually need to rebalance the portfolio once a year, so with 10 funds, that's $70. I'm hoping to cut this down if I can. Does anyone know of a decent broker with good financial standing, IB like comms and no monthly inactivity fees? Thanks.
I think that you will find that all the bottom feeder low cost brokers use Penson as a clearing firm. eOption is one that charges $3.00 for unlimited shares and looks to have no inactivity fees (best to check with them).
I am guessing that since you are talking about inactivity fees you trade very rarely so the $7 per trade is not really an issue except for your annual rebalancing. So if you cut that fee in half with a new firm, you are saving $35 a year. I would suggest that if you are happy with your firm now and think your money is safe, that you stay where you are.
SIPC should take care of the financial standing bit, unless you got more than 250K, but in that case i doubt you care about saving a few dollars a year in comms.
10$ per month for the mandatory data subscription. And this is waivered when you do more than 10$ comish per month (or proportionally). As long as I remember.
I'm not, that's why I'm thinking of moving. The customer service reps can't give a direct answer most of the time.