USAA Introduces Lowest Price for Stock Trades Among Major Brokerage Firms.SAN ANTONIO San Antonio (săn ăntō`nēō, əntōn`), city (1990 pop. 935,933), seat of Bexar co., S central Tex., at the source of the San Antonio River; inc. 1837. -- USAA USAA United Services Automobile Association USAA Urban Superintendents Association of America USAA United States Achievement Academy USAA United States Arbitration Act of 1925 USAA United States Axemen's Association USAA United States Air-Table-Hockey Association today announced the company is lowering its minimum cost per stock trade from $8 to as low as $6.95. The new pricing for USAA's Platinum Commission Level represents the most competitive pricing among the major brokerage firms, and marks the latest step in the company's ongoing program to be aggressively competitive. Traders Traders Individuals who take positions in securities and their derivatives with the objective of making profits. Traders can make markets by trading the flow. When they do this, their objective is to earn the bid/ask spread. can execute online and automated au·to·mate v. au·to·mat·ed, au·to·mat·ing, au·to·mates v.tr. 1. To convert to automatic operation: automate a factory. 2. telephone stock trades of up to 1,000 shares for the $6.95 rate if they conduct 25 or more commissioned trades in a rolling 90-day period. The new rate also applies to traders who execute at least 16 trades in the same period and have a minimum of $50,000 in eligible assets (this amount has been reduced from $100,000)(a). "Investors want a competitive price and great online investment tools," said Chris CHRIS Chemical Hazards Response Information System (US DoD) CHRIS California Historical Resources Information System CHRIS Computerized Human Resources Information System CHRIS Command Human Resources Intelligence System Claus, president and chief executive officer of USAA Investment Management Company. "USAA provides the best value, the lowest rates, no-load funds A type of Mutual Fund that does not impose extra charges for administrative and selling expenses incurred in offering its shares for sale to the public. , free financial guidance from non-commissioned, licensed professionals, exceptional service, and proven performance." In 2005, USAA was named the top-rated discount brokerage firm discount brokerage firm A brokerage firm that discounts commissions for individuals to trade securities. Most discount brokerage firms offer limited advice but reduce their fees by 50% or more compared with full-service brokerage firms. in the American Association of Individual Investors American Association of Individual Investors (AAII) A not-for-profit organization to educate individual investors about stocks, bonds, mutual funds, and other financial instruments. (AAII AAII See: American Association of Individual Investors ) Member Broker Survey based on trade price, execution speed, reliability, and overall satisfaction(1). To conduct trades or open an account, investors can visit www.usaa.com or call 1-800-531-8144. USAA specializes in serving military personnel and their extended families. About USAA USAA is the leading provider of competitively priced insurance, investments, and banking products to members of the U.S. military and their families. The company's 5 million members around the world rely on the convenience and accessibility of USAA's financial products, backed by industry-leading service. For more information about USAA's products and services, or to learn more about membership eligibility, visit www.usaa.com. Consider the investment objectives, risks, charges, and expenses of the USAA mutual funds carefully before investing. Call 1-800-531-8181 for a prospectus containing this and other information about the funds from USAA Investment Management Company (USAA), Distributor. Read it carefully before investing. (1) The American Association of Individual Investors (AAII) is an independent nonprofit A corporation or an association that conducts business for the benefit of the general public without shareholders and without a profit motive. Nonprofits are also called not-for-profit corporations. Nonprofit corporations are created according to state law. association whose purpose is to help its members become effective managers of their own assets through programs of education, information, and research. The AAII Member Broker Survey 2005, reported in the February 2006 issue of the AAII Journal, asked its members to identify and then rate their discount brokers for trade price, execution speed, reliability, and overall satisfaction. Fifty-seven firms were covered, and the 11 most popular brokers (those for whom 25 or more member responses were received) were ranked based on member ratings. Members who identified USAA Brokerage as their broker represented 2.1 percent of the survey respondents In the context of marketing research, a representative sample drawn from a larger population of people from whom information is collected and used to develop or confirm marketing strategy. . More information about the survey and AAII is available at www.AAII.com. USAA Brokerage Services is a division of USAA Investment Management Company (USAA), a registered broker dealer. (a) Eligible assets include those held in USAA Private Investment Management, USAA Strategic Fund Adviser, USAA College Savings Plan (529) accounts, and USAA mutual funds; non-USAA managed assets held in USAA brokerage or Asset Management Accounts (AMA (Automatic Message Accounting) The recording and reporting of telephone calls within a telephone system. It includes the calling and called parties and start and stop times of the call. ) are not included in calculation of eligible assets. Other restrictions may apply. Commissions may change without notice. For more information and a commission schedule, visit www.usaa.com. The term 'trade' refers to placing a trade order. Mutual fund operating expenses Operating expenses The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. apply and continue throughout the life of the fund.
USAA's $6.95 pricing represents new
benchmark among major brokerage firms
Online Automated
Trades Telephone
Trades
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USAA(b) $6.95 $6.95
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E-Trade(b) $6.99 $6.99
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Scottrade $7.00 $17.00
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Vanguard $8.00 $30.00
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Fidelity $8.00 $20.00
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Charles Schwab $9.95 $14.95
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T. Rowe Price $12.95 $25.00
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(b) E-Trade investors qualify for the company's $6.99 rate if they
execute 1,500 or more stock or options trades per quarter, while
USAA investors qualify for the $6.95 rate if they execute 25 or
more commissioned trades in a rolling 90-day period, or execute 16
or more commissioned trades and have $50,000 in eligible assets.
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