2020 Annual Brokers Review

by BrokersReview.online
Annual Review
Feel free to use this online brokerage review to compare over 150 different account features and fees across best online brokers: Terra Finance, TD Ameritrade, Royal Banc, Interactive Brokers, Luxis. Compare trading commissions, account fees, trading tools and platforms, market research functionality, mobile apps, beginner education, and current special offers.

Trading Fees

Feature Royal_Banc Terra Finance Luxis Trade Ameritrade Interactive Brokers
Minimum Deposit $250 $250 $250 $1000 $5000
Stock Trade Fee
(per trade)
$0.00 $0.00 $0.00 $0.00 $0.00
ETF Trade Fee $0.00 $0.00 $0.00 $0.00 $0.01
Options Base Fee $0.00 $0.00 $0.00 $0.00 $0.00
Options Per Contract Fee $0.00 $0.00 $0.00 $0.65 $0.50
Mutual Fund Trade Fee $0.00 $0.00 $0.00 $49.99 $14.95
Broker Assisted Trades Fee $19.99 $10.99 $14.99 $44.99 $30.00
Commissions & Fees
Category Winner category
winner

Margin Rates

Feature Royal_Banc Terra Finance Luxis Trade Ameritrade Interactive Brokers
Under $24,999.99 3.00% 2.00% 2.00% 10.00% 3.08%
$25,000.00 to $49,999.99 2.00% 1.50% 2.00% 9.75% 3.08%
$50,000.00 to $99,999.99 2.00% 1.50% 2.00% 8.75% 3.08%
$100,000.00 to $249,999.99 1.85% 1.30% 1.85% 8.50% 3.08%
$500,000.00 to $999,999.99 1.50% 0.90% 1.35% N/A 2.75%
Above $1,000,000.00 N/A 0.50% 1.35% N/A 2.08%
Commissions & Fees
Category Winner category
winner

Account Fees

Feature Royal_Banc Terra Finance Luxis Trade Ameritrade Interactive Brokers
IRA Annual Fee $0.00 $0.00 $0.00 $0.00 $0.00
IRA Closure Fee $0.00 $0.00 $0.00 $0.00 $0.00
Returned ACH Fee $0.00 $0.00 $0.00 $25.00 N/A
Returned Wire Fee $0.00 $0.00 $0.00 $25.00 N/A
Stock Certificate Processing Fee N/A $0.00 $0.00 $0.00 N/A
Stock Certificate Delivery Fee N/A $100.00 N/A $500.00 N/A
Paper Statement Fee $0.00 $0.00 $0.00 $0.00 N/A
Paper Confirmation Fee N/A $0.00 N/A $0.00 N/A
Domestic Wire Fee $10.00 $1.00 $10.00 $25.00 $10.00
International Wire Fee $10.00 $1.00 $10.00 $25.00 $10.00
Commissions & Fees

Investment Options

Feature Royal_Banc Terra Finance Luxis Trade Ameritrade Interactive Brokers
Stock Trading Yes Yes Yes Yes Yes
Fractional Shares Yes Yes Yes No Yes
OTCBB / Pink Sheets Yes Yes Yes Yes Yes
Options Trading Yes Yes Yes Yes Yes
Complex Options Max Legs 4 4 4 4 8
Futures Trading Yes Yes Yes Yes Yes
Forex Trading Yes Yes Yes Yes No
Commission-Free ETFs All All All 435 565
Mutual Funds
(No load)
All All All 5992 8534
Mutual Funds
(Total)
All All All 11949 12
Bonds
(US Treasury)
Yes Yes Yes Yes Yes
Bonds
(Corporate)
Yes Yes Yes Yes Yes
Bonds
(Municipal)
Yes Yes Yes Yes Yes
Interest Sharing Yes Yes Yes No Yes
Advisor Services Yes Yes Yes Yes No
International Trading Yes Yes Yes Yes Yes
Offering of Investments
Category Winner category
winner

Trading Platforms

Feature Royal_Banc Terra Finance Luxis Trade Ameritrade Interactive Brokers
Proprietary Platform Yes Yes Yes Yes Yes
Desktop Platform (Windows) Yes Yes Yes Yes Yes
Web Platform Yes Yes Yes Yes Yes
Social Trading / Copy-Trading Yes Yes Yes No No
MetaTrader 4 (MT4) Yes Yes Yes No No
MetaTrader 5 (MT5) Yes Yes Yes Yes Yes
cTrader No No No No No

Beginners

Feature Royal_Banc Terra Finance Luxis Trade Ameritrade Interactive Brokers
Education
(Stocks)
Yes Yes Yes Yes Yes
Education
(ETFs)
Yes Yes Yes Yes Yes
Education
(Options)
Yes Yes Yes Yes Yes
Education
(Mutual funds)
Yes Yes Yes Yes No
Education
(Fixed Income)
Yes Yes Yes Yes Yes
Education
(Retirement)
Yes Yes Yes Yes No
Paper Trading Yes Yes Yes Yes Yes
Videos Yes Yes Yes Yes Yes
Webinars
(Monthly Avg)
Yes Yes Yes Yes Yes
Webinars
(Archived)
100 200 20 500 20
Live Seminars Yes Yes Yes Yes No
Progress Tracking Yes Yes Yes Yes Yes
Interactive Learning - Quizzes Yes Yes Yes Yes Yes
Investor Magazine Yes Yes Yes Yes Yes
Education
Category Winner category
winner
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All pricing data was obtained from a published web site as of 01/20/2020 and is believed to be accurate, but is not guaranteed. For stock trade rates, advertised pricing is for a standard order size of 500 shares of stock priced at $30 per share. For options orders, an options regulatory fee per contract may apply.

$10.00 commission applies to online U.S. equity trades, exchange-traded funds (ETFs), and options (+ $0.65 per contract fee) in a Fidelity retail account only for Fidelity Brokerage Services LLC retail clients. Sell orders are subject to an activity assessment fee (from $0.01 to $0.03 per $1,000 of principal). There is an Options Regulatory Fee (from $0.03 to $0.05 per contract), which applies to both option buy and sell transactions. The fee is subject to change. Other exclusions and conditions may apply.

Options trading entails significant risk and is not appropriate for all investors. Certain complex options strategies carry additional risk. Before trading options, please read Characteristics and Risks of Standardized Options. Supporting documentation for any claims, if applicable, will be furnished upon request.