…you're buying options, mutual funds or bonds.

Even low-cost leaders like Zecco, charge more for options trading. That's disappointing for active investors, who tend to be more interested in trading options.

Expect to pay $4.50 plus 50 cents per contract for option trades at Zecco, and option trades do not qualify for Zecco's 10-free trades-a-month deal.

You'll find similar price differentials with mutual funds.

But many online brokers do offer a wide selection of no load, no transaction fee mutual funds for which they charge no commissions.

Fidelity, for example, has over 1,400 mutual funds in its no-transaction-fee network. That's good news if you like the funds in Fidelity's network.

If not, you'll have to shell out a hefty $75 to trade mutual funds online, more if you use Fidelity's automated telephone service or the help of a broker.

What Type of Stocks Do You Plan to Buy

The vast majority of commission price quotes from online brokers are for exchange-traded stocks.

Want to buy penny stocks? Some online brokers won't allow it.

Others, like Wells Fargo and SoGoTrade, simply charge more.

Investors Who Trade Often or Have Large Accounts Get Better Deals

Many online brokers offer their best commission deals to active traders or those with large accounts.

It's not surprising, since these are clearly the most profitable customers.

But you may need substantial assets—at least $1 million at Fidelity and Schwab—or make a very large number of trades—over 1,500 per quarter at E*trade—to get the best deals.

Be careful not to let the lure of super–low commissions tempt you to trade more than you plan to…

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