JTH
03-16-2009, 02:44 PM
USAA (United Services Automobile Association)
Here's a rundown of the basic stats. Afterwards, I'll post my impression.
Types of Brokerage Accounts
USAA Asset Management Account
A USAA Asset Management Account (https://www.usaa.com/inet/ent_utils/McStaticPages?key=asset_management_accounts_main) (USAA AMA) allows you to simplify your investing when you have $5,000 or more in your portfolio. The USAA AMA offers a debit card, unlimited check writing, the ability to pay bills online, low-cost trades and low margin rates.1
Cash Account
A Cash Account is the simplest brokerage trading account. In this type of account, transactions are settled electronically, either from your brokerage cash/sweep account or from a predesignated bank account.
Margin Account²
With a Margin Account, you can buy and sell most of the same types of securities as you would in a Cash Account, but you'll have the added advantage of leveraging your investments. We require a $2,000 minimum equity requirement to trade on margin.
Self-Directed IRA Account
With a Self-Directed IRA, you can choose to buy individual securities to hold in your IRA. Any dividends, interest earned or capital gains (http://javascript<b></b>:;) realized on the securities accumulates on a tax-deferred basis. We also offer Roth and Coverdell Education Savings Accounts. Let us help you select the right IRA (https://www.usaa.com/inet/ent_utils/McStaticPages?key=ira_main) product for you.
Option Account³
Options trading lets you speculate on the future of stock prices. An option contract gives you the right to buy or sell securities at predetermined prices within a certain period of time. This type of trading involves a high degree of risk. You must meet certain financial and trading experience criteria to qualify for options trading.
Trading Cost
Electronic Pricing (signed up for USAA Documents Online¹)
Platinum: Stocks 5.95, Options 5.95 + $.75/Contract, Eligibility 25+ Trades/90days or 16+ trades/90 days and $50,000+ in eligible assetts.
GoldStocks: Stocks 11.95, Options 9.95 + $.75/Contract, Eligibility all traders are eligible for the gold rate.
Paper Pricing (not signed up for USAA Documents Online¹)
Platinum: Stocks 7.95, Options 7.95+ $.75/Contract, Eligibility 25+ Trades/90days or 16+ trades/90 days and $50,000+ in eligible assetts.
GoldStocks: Stocks 13.95, Options 11.95 + $.75/Contract, Eligibility all traders are eligible for the gold rate.
Trading Software
None
Here's a rundown of the basic stats. Afterwards, I'll post my impression.
Types of Brokerage Accounts
USAA Asset Management Account
A USAA Asset Management Account (https://www.usaa.com/inet/ent_utils/McStaticPages?key=asset_management_accounts_main) (USAA AMA) allows you to simplify your investing when you have $5,000 or more in your portfolio. The USAA AMA offers a debit card, unlimited check writing, the ability to pay bills online, low-cost trades and low margin rates.1
Cash Account
A Cash Account is the simplest brokerage trading account. In this type of account, transactions are settled electronically, either from your brokerage cash/sweep account or from a predesignated bank account.
Margin Account²
With a Margin Account, you can buy and sell most of the same types of securities as you would in a Cash Account, but you'll have the added advantage of leveraging your investments. We require a $2,000 minimum equity requirement to trade on margin.
Self-Directed IRA Account
With a Self-Directed IRA, you can choose to buy individual securities to hold in your IRA. Any dividends, interest earned or capital gains (http://javascript<b></b>:;) realized on the securities accumulates on a tax-deferred basis. We also offer Roth and Coverdell Education Savings Accounts. Let us help you select the right IRA (https://www.usaa.com/inet/ent_utils/McStaticPages?key=ira_main) product for you.
Option Account³
Options trading lets you speculate on the future of stock prices. An option contract gives you the right to buy or sell securities at predetermined prices within a certain period of time. This type of trading involves a high degree of risk. You must meet certain financial and trading experience criteria to qualify for options trading.
Trading Cost
Electronic Pricing (signed up for USAA Documents Online¹)
Platinum: Stocks 5.95, Options 5.95 + $.75/Contract, Eligibility 25+ Trades/90days or 16+ trades/90 days and $50,000+ in eligible assetts.
GoldStocks: Stocks 11.95, Options 9.95 + $.75/Contract, Eligibility all traders are eligible for the gold rate.
Paper Pricing (not signed up for USAA Documents Online¹)
Platinum: Stocks 7.95, Options 7.95+ $.75/Contract, Eligibility 25+ Trades/90days or 16+ trades/90 days and $50,000+ in eligible assetts.
GoldStocks: Stocks 13.95, Options 11.95 + $.75/Contract, Eligibility all traders are eligible for the gold rate.
Trading Software
None