Online Broker List
Broker | Fees | Account setup and minimums | Hours | Short Selling |
TD
Ameritrade
(US) |
Flat rate $9.99 commissions on all Internet equity orders with no share limits. No maintenance fee. | A $2,000 minimum deposit is required to be considered for margin and options privileges. | 8am
- 8pm ET
Exchanges: AMEX, NYSE, NASDAQ |
Yes. $5.00 price minimum for the stock you are shorting. |
TD
Ameritrade Izone
(US) |
Flat rate $5.00 commissions. | $5,000 minimum maintained balance | 8am - 8pm ET | Yes. |
E-Trade
Financial
(US) (Canadian Available) |
$12.99
per trade with less than $50,000 in assets and 0-29 trades/quarter |
$1,000 minimum for cash accounts and $2,000 for margin accounts | 8am
- 8pm ET
NYSE/AMEX, Nasdaq NMS, SmallCap, OTC Bulletin Board, and Pink Sheet securities. |
Yes. |
TradeStation
(US) |
100
shares for $1.00
500 shares for $5.00 1000 shares for $8.00 First 500 shares, $.01 per share. |
Non-Day
Trading Accounts (an account that has never placed 4 day-trades in a 5
trading day period) must maintain a minimum daily equity balance of at
least $5,000. Non-Day Trading Accounts are restricted to 3 opening
transactions per day, less the number of day trades made in the
preceding 4 trading days.
Annual net income of at least $50,000 and liquid net worth of at least $75,000 At least 2 years of active trading experience |
8:00
a.m. ET until 8:00 p.m
The Nasdaq National Market, The Nasdaq SmallCap Market, and listed securities (such as the NYSE and AMEX markets) electronically |
TradeStation Securities attempts to provide a robust short sale inventory via direct relationships with lending counterparties, as well as participation in the Loanet sytem. |
OptionsXpress
(US) (Canadian Available)
|
Stock Trader Rate $9.95 up to 1,000 shares To qualify for stock trader rate customers must make 9 or more trades within a quarter. Standard Stock Rate $14.95 up to 1,000 shares Commission on Penny Stocks will be capped at 5% of total purchase price, subject to the $14.95 minimum. |
No minimum is required to open a cash account, however there is a $2,000.00 minimum required to maintain a margin account. | 8:00 AM to 6:00 PM ET | Yes. |
Scottrade
(US) |
$7.00
for market or limit orders.
Stocks under $1 are just $7 + 1/2% of principal. |
Open an account with a $500 deposit or $2,000 for a margin account. No Inactive Account Fees or Account Maintenance Fees |
Sent email May 7th 2006 | Sent email May 7th 2006 |
Cybertrader
(US and Canada)
|
$9.95 per trade AND $.006 per share for the first 2,000 shares AND $.003 per share above 2,000 shares. | $5,000
for cash accounts
$10,000 for non-day trading margin accounts $25,000 for day trading margin accounts |
7:00am - 8:00pm EST; pre and post market trading is available through several ECNs. | Yes. |
Fidelity
(US) |
Bronze:
$19.95 - Standard rate
$10.95 with $50,000 in household assets OR 36+ trades/year and $25,000 in household assets OR 72+ trades/year |
Minimum
to open account: $2,500
Minimum account equity of $5,000 when placing orders on margin. |
8am
- 8pm ET
No assistance for extended hours trades. During Extended Hours sessions you can trade all Nasdaq (National Market and Small Cap) and listed securities. |
Yes, but only during the regular market hours, not pre-market or after hours. |
Schwab
(US) |
Less
than $50K Household Balance:
0-8 Trades per quarter: $19.95 (plus $0.015 per share above 1,000 shares) 9-29 Trades per quarter: $12.95 (plus $0.015 per share above 1,000 shares) 30 or More per Quarter: $9.95 |
Account opening minimums of $2,500 for brokerage accounts or $2,000 for IRAs. | Pre-Market
Trading: Orders can only be placed between 8:05 p.m. (previous trading
day) and 9:15 a.m. EST and will only be eligible for execution between
7:30 a.m. and 9:15 a.m. EST
After Hours: Orders can only be placed between 4:05 p.m. and 8:00 p.m. EST and will only be executed between 4:15 p.m. and 8:00 p.m. EST Extended hours: All orders will be processed through NYSE Arca |
Sent
email May 7th 2006
Email responded to on May 9th 2006. Yes, no minimum share price to short. Shares must be available to borrow (as with all brokers).
|
Trading
Direct
(US) |
$9.95 for up to 1,000,000 shares, placed over the Internet, regardless of order type, for exchange listed, NASDAQ, bulletin board, and pink-sheet stocks. | There is no minimum account balance required for a cash account. There is a $2000 minimum equity requirement to initiate margin trading. | Sent email May 7th 2006 | Yes, most stocks above $4.00 are shortable. |
Noble
Trading
(US) |
Equities
(per trade) as low as $7.95 per trade (up to 5 million shares)
Equities (per share) as low as $.009 per share with a $2.50 minimum |
The minimum account size for accounts opened through Computer Clearing Services is $5,000. | Sent email May 7th 2006 | Sent email May 7th 2006 |
Investrade
(US) |
Stocks
(Unlimited Shares):
Market Orders $7.95 Less Than $2 Per Share $29.00 |
No
Hidden Charges
No Annual Maintenance Fees No Inactivity FeesNo Volume Requirements to Qualify for Our Low Commissions No Minimum to Open an Account except for international accounts |
8:00
a.m. to 6:00 p.m. EST
Only unconditional limit orders on exchange listed and NASDAQ securities are eligible for execution, any size. $25 up to 5000 shares, .003¢ per share over 5000. |
Yes, stocks below $3 may not be shorted. |
Interactive
Brokers
(US) (Canadian Available)
|
For
U.S Stocks:
USD 0.005 For Canadian Stocks: CAD 0.01 |
USD
2,000
Account Minimum CAD 3,000 Account Minimum Monthly Activity Fee Minimums apply. |
Sent email May 7th 2006 | Yes. List of all shortable stocks given broken down by Country. |
Harris Direct | On January 11, 2006, Harrisdirect accounts were automatically transferred to E*TRADE Securities | |||
BrownCo | On May 8, 2006 BrownCo accounts will be transferred to E*TRADE Securities | |||
Questrade
(US and Canada) |
WebTrader
& AxisPro platforms:
Canadian Stocks: $9.95 up to 2000 shares. $0.005 per share thereafter up to a maximum of $17.95 US Stocks: $9.95 flat |
In
order to receive margin you will need to maintain at least the
equivalent of US$1000. Questrade does not enforce US style
Pattern Day Trading Rules.
Questrade client margin accounts generally receive 3:1 Margin on eligible securities. |
7:30 a.m. to 7:00 p.m. ET | Yes, no minimum stock price. |
Royal
Bank Action Direct
(Canada) |
Up
to 1,000 shares: $29.95 (Cdn. or U.S.) per transaction
Greater than 1,000 shares: $0.00 - $2.00 1.5% of trade $2.01 and over $0.03/share New, lower commissions Effective May 22, 2006 Investors who trade equities & options at least 30 times per quarter U.S Equities: Flat rate of $9.95 Canadian Equities: Investors who trade equities & options less than 30 times per quarter: Up to 1,000 shares $28.95 (CDN or U.S) per transaction Greater than 1,000 shares $0.00 to $2.00 1.5% of trade $2.01 and over $0.03 / share |
Nothing mentioned. $2000 minimum is typical for Margin Trading. | Sent
email May 7th 2006
Email answered May 10th Yes to after hours trading on the TSE, NYSE,
AMEX and
|
Yes. $3.00 stock price minimum. |
TD
Waterhouse
(Canada) |
Stock
price from $0 - $2.00
1.5% of principal trade Stock price from $2.01 and over: $29.00 flat fee New Fee Schedule Coming Soon. |
Nothing mentioned. $2000 minimum is typical for Margin Trading. | Yes, share price greater than $1 only. | |
Muriel Siebert &
Company
(US) |
$14.95
per trade for up to 1,000 equity shares, market or limit orders.
1.5 cents per share for each additional share over 1,000. |
At the current time, there is no minimum required to open a Siebert account. There is an annual maintenance fee for IRAs with account equity less than $10,000. | 8am - 8pm ET through Archipelago ECN (ARCA). | Sent
email May 7th 2006
Email answered May 9th 2006 Yes, no minimum. |
Merrill Lynch Direct
(US) |
$29.95 up to 1000 shares. $0.03 per share above 1000. | $2,000 minimum for a Cash Management Account® or $250 for an Individual Retirement Account | Site does not say. No contact information to ask. | Yes. |
ShareBuilder
(US) |
Limit
Orders: $19.95
Market Orders: $15.95 Automatic Investments: $4 per investment |
No
Minimum Opening Balance
No annual maintenance or low balance fee No Margin accounts mentioned. |
No extended hours trading. | No. |