Published by Blain Reinkensmeyer
On Monday, February 15th, 2016
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 has been involved in the markets for over 15 years, heading StockBrokers.com broker research and reviews. His personal blog, StockTrader.com, provides education articles as well as to-the-point market recaps to over 17,000 subscribers.
* - USAA did not to participate in the 2016 Online Broker Review. As a result, there are no current ratings to display.
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.
* - USAA did not participate in the 2016 Online Broker Review, as a result the following data may not be up to date.
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.