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» Muriel Siebert Brokerage
Muriel Siebert Brokerage Information And Reviews
Muriel Siebert Brokerage Commissions
| Market: | $14.95 |
| Limit: | $14.95 |
| Options: | Sliding scale, minimum $34. |
Muriel Siebert Brokerage is the oldest discount brokerage firm in the U.S., founded by Muriel Siebert in 1967. It expanded into capital markets in 1982, giving its customers access to private placements, IPOs, and bonds. As of this writing, Siebert is the only female-owned municipal bond firm in the United States. While Muriel Siebert is a full-service brokerage, it operates an online subsidiary called Siebertnet.
Muriel Siebert Brokerage Services
Siebertnet is unique among discount brokers for its access to IPOs, secondary stock offerings, and initial bond offerings. Further, the firm refuses to make markets itself, or trade in a principal account, so there is no danger of conflicts of interest arising in order routing like at some other firms. True to its full-service core, it is dedicated to top-notch customer service. Another interesting feature is that customers may individually negotiate their trading commissions and margin rates. This can be valuable for large accounts and active traders. In addition, clients who qualify are assigned a personal brokerage team. For day trading and other active traders, the firm offers a software platform called Dynamic Trader, with built in level II quotes, one-click trading, and interactive charts. Further, the firm offers the ability to enter complex options combinations as a unit. For example, collars, strangles, straddles, condors, iron condors, buy-writes, and other combinations can be assembled in a single order, making complex option strategies much easier and less prone to execution risk. Another benefit to consider is that Siebert offers free access to a huge array of 3rd-party research that many other brokers charge for, including S&P, Multex, Zack's, Morningstar, Baseline, Optionetics, RiskMetrics, SmartMoney, and more. Also, Siebertnet provides some of the best accounting tools of any discount brokerage, including a comprehensive 3-year history of account activity, year-end tax reports, tax-lot accounting, and a 90-day archive of trade confirmations. Finally, they will pay any exit fees charged by your other brokerage if you switch to them, up to $100.Muriel Siebert Brokerage Reviews in the Media
Muriel Siebert Brokerage has won praise for its large selection of 3rd-party research. Although its commissions are high for a discount brokerage, the free research resources may make up for it in part for those who use them. Larger accounts and more active traders can negotiate their own rates, of course, and Siebert has been criticized for focusing on wealthier investors.Downsides to consider
Because of Siebert's higher commissions and reported bias toward large, active accounts, they are unlikely to be the best choice for less affluent investors.Bottom Line
Siebert provides an excellent array of research and services for those who can afford its fees. Larger accounts that can take advantage of its negotiable prices and other services would likely appreciate their access to private placements, and high level of service. More cost-conscious investors should consider Zecco.com or TradeKing.com instead.User Rating
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