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By Blain Reinkensmeyer on February 16th, 2016 | Last updated: October 14th, 2016

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USAA Review

Our USAA review includes a variety of information for researching and finding a brokerage to suit your needs. We have detailed commissions & fees data, an extensive features checklist, and other important broker information available. Our team encourages all investors to compare brokers with their competitors to find out how they stack up.

Please Note: Our annual review requires the online brokers to actively participate due to the extensive amount of testing, data, and research that takes place over the course of six months. Since USAA elected not to be included in our 2015 Online Broker Review, USAA does not have star ratings or rankings.


Blain Reinkensmeyer

Reviewed by Blain Reinkensmeyer Blain heads research at StockBrokers.com and has been involved in the markets since placing his first stock trade back in 2001. He developed StockBrokers.com's annual review format six years ago which is respected by broker executives as the most thorough in the industry. Currently maintaining funded accounts with more than a dozen different US regulated online brokers, he's executed thousands of trades through his career and enjoys sharing his experiences through his personal blog, StockTrader.com.


Ratings Overall

* USAA did not participate in the 2016 Online Broker Review, as a result the following data may not be up to date.

Best in Class

2016

Overall
This broker did not finish Best in Class.

Commissions & Fees

* USAA did not participate in the 2016 Online Broker Review, as a result the following data may not be up to date.

Commission Notes

USAA offers clients two different commission levels with up to 50 free trades (up to 1,000 shares each) available to new clients who perform "householding", ie group multiple accounts together. This 50 free trade bonus expires after 90 days, and the account is then reverted to either the Gold or Platinum Level listed below.

The first level offered is Gold which is the base level and what all broker account holders qualify for. The second is Platinum which clients can qualify for by either A. Executing 25 or more trades in a rolling 90-day period or B. Having $50,000 or more in their account.

Stock Trades - Under the Gold Level, regular stock trades are $8.95 with each additional share over 1,000 costing $.01 per share. Under the Platinum Level, the rate drops to $5.95 with each additional share over 1,000 costing $.005 per share. No other broker has a cost structure like USAA, making trading larger position sizes a very costly proposition.

Broker assisted trades are $50 per trade with each additional share over 1,000 costing $.005 per share.

Options Trades - For options trades, USAA's commission rates are far more in line with industry averages. Gold Level clients pay $8.95 + $0.75 per contract and Platinum Level clients pay $5.95 + $0.75 per contract.

Mutual Funds - Regular No-Load Transaction Fee Funds cost $45 per trade. Loaded Funds are available through broker-assisted trading only.

Other Investments - Interactive Brokers also offers futures trading (all types), bonds, and forex trading. For more information on these investments please visit the website.



Trade Commissions Breakdown

Stock Trade Fee (flat)* $8.95
Stock Trade Fee (per share)* $0.0000
Options Base Fee* $8.95
Options Per Contract Fee* $0.00
Options Exercise Fee $0.00
Options Assignment Fee $0.00
Mutual Fund Trade Fee $45.00
Broker Assisted Trades Fee $50.00
Minimum Deposit $0.00

Margin Rates

Under $24,999.99 7.99%
$25,000.00 to 49,999.99 7.75%
$50,000.00 to $99,999.99 6.99%
$100,000.00 to $249,999.99 6.99%
$250,000.00 to $499,999.99 6.50%
$500,000.00 to $999,999.99 6.50%
Above $1,000,000.00 5.25%

Miscellaneous Fees

Bond Trade Fee N/A
Treasury Trade Fee N/A
IRA Annual Fee $0.00
IRA Closure Fee $20.00
Returned ACH Fee N/A
Returned Wire Fee N/A
Stock Certificate Processing Fee N/A
Stock Certificate Delivery Fee N/A
Paper Statement Fee N/A
Paper Confirmation Fee N/A
Domestic Wire Fee $20.00
International Wire Fee $35.00


Account Features

* USAA did not participate in the 2016 Online Broker Review, as a result the following data may not be up to date.

Offering of Investments

Advisor Services help No
Bonds (Corporate) help Yes
Bonds (Municipal) help Yes
Bonds (US Treasury) help Yes
CDs help No
Clearing Firm help
Commission Free ETFs help 0
Direct Market Routing - Stocks help No
Direct Market Routing - Options help No
DRIPs help No
# of Easy to Borrow Stocks help
Forex Trading help No
Futures Trading help No
Member FINRA help No
Member SIPC help No
Mutual Funds help Yes
Mutual Funds (Load) help 0
Mutual Funds (No Load) help 0
Mutual Funds (NTF) help
Mutual Funds (Total) help
Mutual Funds Phone Trades help No
Mutual Funds Web Trades help No
No Fee IRAs help No
No Inactivity Fees help No
No Minimum Deposit help No
Options Exercising (Phone) help No
Options Exercising (Web) help No
Options Trading help Yes
Options Trading (Mini) help No
Options Trading (Weekly) help No
OTCBB / Pink Sheets help Yes
Stock Trading help Yes

Customer Service

Phone Support help Yes
Email Support help Yes
Live Chat (Current Clients) help No
24/7 Support help No

Platforms & Tools

Desktop Platform (Windows) help No
Desktop Platform (Mac) help No
Web Platform help No
Active Trading Platform help
Auto Investing help No
Charting - Display Corporate Events help No
Charting - Drawing Tools help
Charting - Notes help No
Heat Mapping help No
Ladder Trading help No
Level 2 Quotes - Stocks help No
Level 2 Quotes - Options help No
Option Chains - Streaming Real-time help No
Option Analysis - P&L Charts help No
Stock Alerts Delivery - Email help No
Stock Alerts Delivery - Sound help No
Stock Alerts Delivery - Text SMS help No
Streaming Time & Sales help No
Streaming TV help No
Trade Hot Keys help No
Virtual Trading help No
Watch Lists - Streaming Real-time Quotes help No

Research

Research - ETFs help No
Research - Mutual Funds help No
Research - Pink Sheets / OTCBB help No
Research - Fixed Income help No
Equity Research - Research Reports help 0
ETF Research - Top 10 Holdings help No
ETF Research - Morningstar Style Box help No
ETF Research - Research Reports help No
Mutual Fund Research - Research Reports help No
Mutual Fund Research - Fees Breakdown help No
Mutual Fund Research - Performance Analysis help No
Mutual Fund Research - Top 10 Holdings help No
Screener - Stocks help No
Screener - ETFs help No
Screener - Mutual Funds help No
Screener - Options help No
Screener - Bonds help No

Education

Has Education - Stocks help No
Has Education - ETFs help No
Has Education - Options help No
Has Education - Mutual Funds help No
Has Education - Fixed Income help No
Has Education - Retirement help No
Investor Dictionary help No
Client Webinars help No
Live Seminars help No
Videos help No
Retirement Calculator help No
Community Forums help No

Mobile Trading

iPhone App help Yes
iPad App help Yes
Apple Watch App help No
Android App help Yes
Android Tablet App help No
Mobile Site help No
Quotes (Real-time) help No
Quotes (Streaming Real-time) help No
Watch List Syncing help No
Market Movers (Top Gainers) help No
Stock Alerts Delivery - Push Notifications help No
Customizable Homescreen help No
Stream Live TV help No
Trading - Stocks help No
Trading - After-Hours help No
Trading - Simple Options help No
Trading - Complex Options help No

Banking

Member FDIC help No
Checking Accounts help Yes
Savings Accounts help Yes
Debit Cards help Yes
Credit Cards help Yes
Mortgage Loans help Yes
Mobile Check Deposit help Yes
ATM Fee Reimbursement help No
No Fee Banking help No
Retail Locations help 0

Active Trading

Receives Payment for Order Flow (Equities) help No
Client Liquidity Rebates help No
Financial Information Forum (FIF) Participant help No

Compare USAA

Select one or more of these brokers to compare against USAA.

All pricing data was obtained from a published web site as of 2/16/2016 and is believed to be accurate, but is not guaranteed. The StockBrokers.com staff is constantly working with its online broker representatives to obtain the latest pricing data. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page. 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.




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