Brokers slice margin borrowing into bands, and the advertised rate is always the cheapest band for the biggest borrowers. The rest of us live in the expensive bands.
- Under $10,000 might cost 11%, over $100,000 maybe 8.5%; breakpoints differ at every broker - Broker A advertising 8% can be pricier than Broker B advertising 9% at your $30,000 balance - Borrowing under $50,000? Compare only the bottom two tiers; the rest never applies to you - Schedules change quietly; check the tier table, not the ad
BrokerMatch ($2.99 one-time) lines up margin tiers across fifty brokers at your balance, in minutes.