These Cheap Retail Brokers Can Save Investors $2B in Fees [INFOGRAPH]

How Everyday Investors Can Save $1.8 Billion in Unnecessary Brokerage Fees

By Susan Lyon, financial analyst with NerdWallet

We all know we can get more affordable groceries by switching to less fancy brands – but did you know this same principle can be used to save you money while investing?

A new NerdWallet study finds that investors are throwing away over $1.8 billion in unnecessary fees with the largest 3 online brokerages: Charles Schwab Corp (NYSE:SCHW), TD Ameritrade Holding Corp. (NYSE:AMTD), and E-Trade Financial Corporation (NASDAQ:ETFC).  They could save a lot of money per trade by switching to more affordable but lesser known competitors.

The typical investor with these 3 brokerages makes one...