As of December 16th 2008, the broker call rate (also known as the call money rate) is 2.00%. What rate of margin interest are you paying your broker?
At Trading Direct, a division of York Securities, Inc., we have some of the lowest margin rates on Wall Street. Unlike other brokers who may base their margin rates upon an arbitrary base figure, ours have always based on the official broker call rate, as published in financial newspapers. See the table below for the rate of interest you would pay on your debit balance:
TRADING DIRECT'S LOW MARGIN INTEREST RATES
Debit Balance:
Interest Rate:
$0 - $49,999
1 3/4% Above
$50,000 - $99,999
1% Above
$100,000 - $249,999
1/2% Above
$250,000 - $499,999
Equal to Broker Call
$500,000 - $999,999
1/2% Below
$1,000,000 +
3/4% Below
Based upon Broker Call Rate of 2.00% as of December 16th 2008.
Why pay more? In addition to super low margin rates, Trading Direct is also one of the lowest cost online discount brokers.
The online equity commission rate is $10.95, and the broker-assisted (telephone) rate is $19.95! (See Commissions Page for details).
Company Information: Trading Direct is an online discount broker, based in New York City, that commenced operations in 1997. Trading Direct's parent company is York Securities, a discount brokerage firm who commenced operations in 1979. All accounts at Trading Direct will be carried by the clearing agent, Penson Financial Services, Inc. (A division of Penson Worldwide Inc.).
