No free lunch? No one told online discount brokers. Wells Fargo recently began offering 100 free trades a year -- on stocks, exchange-traded funds and no-load mutual funds -- through its WellsTrade online brokerage. To qualify, you need $25,000 in a Wells Fargo account or loan balance -- and that can include 10% of your mortgage. Last fall, Bank of America started offering 360 free online stock trades a year for qualifying customers. Zecco.com offers 40 freebies a month.
Commissions should never be the deciding factor, though, when you're choosing a broker. Some may nickel-and-dime you elsewhere -- by charging account-inactivity fees, for example. Others might stand out in ways that are more important to you.
Qualifying mutual fund investors will find Wells Fargo's offer attractive because it extends to the more than 2,000 no-load funds it offers. Transaction fees can run $75 at Fidelity.
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
If you're not a big trader and tend to stow cash in your account, you'd do better with a more generous rate than with free trades. Zecco pays about 1% on default cash accounts, while Fidelity pays up to 3.6% on balances less than $100,000. (Some brokers will transfer cash to a higher-yielding money-market account if you ask.)
If the market's recent turmoil convinced you that speed and reliability are paramount, stick with E*Trade, whose Web site remained lightning-fast when stocks tanked, while Wells Fargo and others slowed significantly. Says analyst Chris Musto, of site-tracker Keynote: "It doesn't matter if you're not charged commission if you can't complete the trade."
-
Take Charge of Retirement Spending With This Simple StrategyTo make sure you're in control of retirement spending, rather than the other way around, allocate funds to just three purposes: income, protection and legacy.
-
Here's How To Get Organized And Work For YourselfWhether you’re looking for a side gig or planning to start your own business, it has never been easier to strike out on your own. Here is our guide to navigating working for yourself.
-
Fed Sees Fewer Rate Cuts in 2025: What the Experts Are SayingFederal Reserve The Federal Reserve cut interest rates as expected, but the future path of borrowing costs became more opaque.
-
Fed Cuts Rates Again: What the Experts Are Saying
Federal Reserve The central bank continued to ease, but a new administration in Washington clouds the outlook for future policy moves.
-
Fed Goes Big With First Rate Cut: What the Experts Are Saying
Federal Reserve A slowing labor market prompted the Fed to start with a jumbo-sized reduction to borrowing costs.
-
Stock Market Today: Stocks Retreat Ahead of Nvidia EarningsMarkets lost ground on light volume Wednesday as traders keyed on AI bellwether Nvidia earnings after the close.
-
Stock Market Today: Stocks Edge Higher With Nvidia Earnings in FocusNvidia stock gained ground ahead of tomorrow's after-the-close earnings event, while Super Micro Computer got hit by a short seller report.
-
Stock Market Today: Dow Hits New Record Closing HighThe Nasdaq Composite and S&P 500 finished in the red as semiconductor stocks struggled.
-
Stock Market Today: Stocks Pop After Powell's Jackson Hole SpeechFed Chair Powell's Jackson Hole speech struck a dovish tone which sent stocks soaring Friday.
-
Stock Market Today: Stocks Drop Ahead of Powell's Jackson Hole SpeechSentiment turned cautious ahead of Fed Chair Powell's highly anticipated speech Friday at the Jackson Hole Economic Symposium.
