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Re: Which broker has the lowest transaction fee for buying ETFs?
Super_Snark
02-28-2008, 10:54 AM | Post #2492423
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A new online broker called TradeKing offers 4.95 trades. That's down to the level of Sharebuilder, which isn't an attractive option except under certain circumstances. I have no experience with Tradeking, but you can check them out at tradeking.com and see if it fits the bill. So far, I like what I see as I will likely be downsized soon and will have some 401k money to roll over. Maybe I'll give them a shot.
Zecco sounds great for the trader, but the account fee would be counterproductive for a buy and hold investor like myself. I see myself taking my 401k money, taking 2 or 3 ETF positions within a year and maybe sitting on them for years without making any trades.
At the opposite extreme, Fidelity still asks $19.95 per trade, if you trade less than 36 times a year. Hard to believe it was $35 per trade at the beginning of the decade.
Topics
401(k)
ETF
Fidelity
online brokers
Sharebuilder
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