Business Special Report: Online Investing
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    Online Brokerages

  • Ameritrade
  • Brown & Co.
  • Charles Schwab
  • Datek
  • Discover Brokerage
  • DLJ Direct
  • E*Trade
  • Fidelity Brokerage
  • Jack White & Co.
  • National Discount Brokers
  • Quick & Reilly
  • Sure Trade
  • Waterhouse
    A Guide to Online Brokerages
    Q: How much money do you need to open an account?
    A: $2,000
    Q: Cost per Internet stock trade:
    A: $8 for market trades; $13 for limit trade
    Q: Select ancillary services offered (may require additional fee):
    A: Real-time quotes, research, IRAs, check writing, debit cards
    Q: How long does it take to get confirmation?
    A: 93% are processed and confirmed in less than one minute
    Q: How long has the internet service been up and running?
    A: 1994
    Q: Margin account interest rates:
    A: 1.75 below to 0.75 percentage points above prime
    Q: Can you trade futures, options and mutual funds online (and how many mutual funds)?
    A: Options and mutual funds (more than 6,000)
    Q: Approximately how many online accounts does your service have?
    A: 267,000
    Q: Is there a certain customer or investor type your service appeals to?
    A: Self-sufficient, serious traders
    Q: How do you justify your trading charge (i.e. why the broker is on the lower end in terms of charges, or why they charge more)?
    A: Low cost due to location, sophisticated technology infrastructure and owning own data-processing software

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