Lime Financial
Pros
- Commission-free stock and ETF trading via market maker venues
- Low DMA rate of $0.005 per share for direct routing
- Low options commission of $0.50 per contract
- Multiple platform choices including Lime Trader, Sterling, CQG, and Bookmap
- IRA and multiple account types supported
- Agency-only broker model with no proprietary trading conflicts
- SIPC membership protects accounts up to $500,000
Cons
- No demo or paper trading account available
- Inactivity fee of $15 per quarter for low-activity accounts
- Minimum account balance of $1,000 for cash accounts, $2,000 for margin
- No OTC stock trading
- No GTC (Good-Till-Canceled) orders supported
- Wire transfer fees for deposits and withdrawals
- No fractional shares
- Platform depth may overwhelm beginner traders