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Is Brokerpoint free?

Your expert
Tekla C.
Fact checked by
Adam N.
Updated
2w ago
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Independent

Is Brokerpoint free as of May 2024?

Brokerpoint does charge a commission for real stock trading on US markets, so in this sense it is not a free-to-trade broker. However, it might still be a reasonable choice for some of you, as there are many other aspects other than commissions that are important when you choose a broker. If you wish to stick with Brokerpoint though, then you will find the fees they charge below. Alternatively, you could check our article detailing the best zero commission brokers and how their apps scored in our test.

We should note that the payment-for-order-flow model, which is used by some zero-commission brokers to generate income (rather than relying on commissions), could potentially create a conflict of interest between you and your broker. This could result in trade execution (like routing your orders to specific market makers) that might be unfavorable for you under certain market conditions, especially when using market orders (as opposed to limit orders, which seem to be less affected).

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BrokerChooser score
3.9 3.9 /5
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Overview of Brokerpoint fees and charges

It's safe to say that Brokerpoint's fees are low in general. They either don't charge a brokerage fee for things that other brokers do, or they only charge a small amount.

Here's a high-level overview of Brokerpoint's fees

Brokerpoint Fees snapshot
Assets Fee level Fee terms
US stock fee Low $0.01 per share for up to 2000 shares; $0.005 per share above that; min. $2
EURUSD fee Low 0.8 pips * order volume
US mutual fund fees Average $14.95 per transaction or 3% of trade value, whichever is lower
Inactivity fee Low $1 monthly inactivity fee, if you have assets on your account

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Brokerpoint fees explained

Online brokerages in general charge much lower brokerage fees than traditional brokerages do - this is largely because online brokerages' businesses can be much better scaled: from a purely technical standpoint, it doesn't make that much of a difference for them if they have 100 or 5,000 clients.

This is not to say, however, that they don't charge any fees at all. They make money by charging you various rates for various actions or events. Usually you need to keep an eye on the following three types of fees:

  • Trading fees - these are brokerage fees that you pay when you actually carry out a trade, like buying an Apple share or an ETF. What you pay is either a commission, a spread or a financing rate. Some brokers apply all of these.
    • A commission is either fixed or based on the traded volume.
    • A spread is the difference between the buy price and the sell price.
    • A financing rate or overnight rate is charged when you hold your leveraged positions for more than one day.
  • Non-trading fees. These are usually related to some operations you carry out in your account, such as depositing money, withdrawing money, or not trading for an extended period.

We compare Brokerpoint fees with its closest competitors, CapTrader and TradeStation.

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Brokerpoint trading fees

Brokerpoint's trading fees are low, which makes it suitable for you even if you trade often (i.e. several times a week).

Let's break down trading fees according to the different asset classes available at Brokerpoint.

Trading fees

Brokerpoint's trading fees are low.

Stock fees and ETF fees

Brokerpoint has low stock trading fees.

Stock fees of a $2,000 trade
US stock
$2.0
$2.0
$5.0
UK stock
$2.9
$10.0
-
German stock
$2.5
$4.3
-

Data updated on May 27, 2024

Forex fees

Brokerpoint's forex fees are average.

Forex fees of a $20,000 30:1 position (open, 1-week-hold and close)
EURUSD benchmark fee
$12.5 $16.8 -
EURGBP benchmark fee
$12.5 $16.8 -

Data updated on May 27, 2024

Fund fees

Brokerpoint fund fees are average.

Fees of a $2,000 fund purchase
Mutual fund
$15.0
$15.0
$15.0
EU mutual fund
- - -

Data updated on May 27, 2024

Bond fees

Brokerpoint has low bond fees.

Fees of a $10,000 bond trade
US Treasury bond
$5.0
$5.0
$20.0
EU/UK government bond
$10.0
$10.0
-

Data updated on May 27, 2024

Options fees

Brokerpoint's options fees are high.

Options fees for 10 contracts
US stock options
$20.0
$35.0
$5.0
US stock index options
$20.0
$35.0
$11.0
UK stock index options
$37.5
$43.8
-
German stock index options
$20.4
$21.6
-

Data updated on May 27, 2024

Futures fees

Brokerpoint's futures fees are high.

Stock index futures fees for 10 contracts
US micro e-mini stock index futures
$20.0
$35.0
$5.0
UK stock index futures
$37.5
$43.8
-
German e-mini stock index futures
$20.4
$21.6
-

Data updated on May 27, 2024

CFD fees

Brokerpoint has high CFD trading fees.

CFD fees and commissions on a $2,000 trade
Apple CFD
$3.1
$2.1
-
Vodafone CFD
$5.6
$5.6
-
Germany
- - -

Data updated on May 27, 2024

Currency conversion fee

Brokerpoint will charge a Currency Conversion Fee for all trades on instruments denominated in a currency different to the currency of your account. The fee is charged as the following: 0.8 pips * order volume .

Margin rates

Brokerpoint margin rates are low.

Brokerpoint margin rates
USD margin rate
7.8%
7.8%
13.5%
EUR margin rate
6.5%
6.5%
-

Data updated on May 27, 2024

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Brokerpoint non-trading fees

When it comes to non-trading fees, Brokerpoint is a rather cheap broker.

Non-trading fees include various brokerage fees and charges at Brokerpoint that are not related to buying or selling assets. This can be a withdrawal fee, deposit fee, inactivity fee or account fee.

A high-level overview of how Brokerpoint stacks up in terms of non-trading fees
Withdrawal fee
$0
$0
$35
Deposit fee
$0
$0
$0
Inactivity fee
Yes
Yes
Yes
Account fee
No
No
No

Data updated on May 27, 2024

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BrokerChooser score
3.9 3.9 /5
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Brokerpoint deposit fee

Usually, brokers don't charge anything for deposits, and Brokerpoint is no different.

Brokerpoint deposit methods
Bank transfer
Yes Yes Yes
Credit/debit card
No No No
Electronic wallets
No No No
Deposit fee
$0
$0
$0

Data updated on May 27, 2024

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Brokerpoint withdrawal fee

Brokerpoint generally doesn't charge a withdrawal fee.

Brokerpoint withdrawal fees and options compared
Bank transfer
Yes Yes Yes
Credit/debit card
No No No
Electronic wallets
No No No
Withdrawal fee for bank transfer
$0
$0
$35

Data updated on May 27, 2024

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Brokerpoint inactivity fee

Brokerpoint does apply an inactivity fee and it is $1 monthly inactivity fee, if you have assets on your account. Keep this in mind to avoid getting charged after a longer idle period. The fact that Brokerpoint charges an inactivity fee makes it less ideal for you if you are a buy-and-hold investor.

The inactivity fee charged by Brokerpoint is low.

Inactivity fee
Yes
Yes
Yes
Inactivity fee
$1 monthly inactivity fee, if you have assets on your account If your portfolio is below $1,000 and no trades have been carried out during the month, then a monthly fee of $1 applies $10/month – waived if 10 or more trades placed in prior 90 days OR $5000 avg end of month balance

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Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology.

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Tekla Csike
Author of this article
Tekla is a former intern and talent acquisition specialist at BrokerChooser. She is an aspiring young professional with a master's degree in psychology. As a writer, she aims to transform the sometimes daunting complexity of a topic to an easily understandable version, so the readers can feel the pleasant experience of learning constantly.
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