Report: Online stock trading gets cheaper
Consolidation, competition is driving fees as low as $1 to $3 a trade, newspaper reports.

NEW YORK (CNNMoney.com) -- The cost of trading online is sinking due to stiff competition and consolidation in the industry, with one firm offering trades for $1 to $3 apiece, a newspaper reported Tuesday.

The Wall Street Journal reported that Genesis Securities, through its new unit SogoInvest, offers investors 15 free trades a month after paying a $15 a month fee with no account minimum required.

Investors unwilling to pay the monthly fee can still conduct trades for $3 each. SogoInvest's founder and chairman, William Yeh, told the newspaper the unit is targeting individual investors interested in developing long-term investment strategies.

Although prices of stock trades have been fallen in recent years, they've dropped more quickly in recent months as online brokers scramble for customer assets, the Journal reported.

Among the industry's more established players, TD Ameritrade, which completed its acquisition of TD Waterhouse Group's retail securities business earlier this year, charges a flat rate of $9.99 for online trades, the report said.

E*Trade Financial, which recently acquired and integrated BrownCo. and Harrisdirect, charges clients from $6.99 to $12.99.

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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.