Seaport Securities

What Seaport Securities does

Seaport Securities Corporation is an independent, privately-held U.S. broker-dealer founded in 1979 by Theodore P. Weisberg from the floor of the New York Stock Exchange, and operating today from a single office at 60 Broad Street in New York City with 1–10 employees. The firm is a member of NYSE, FINRA, and SIPC, and is registered in 48 U.S. states. All customer accounts are carried and custodied through National Financial Services LLC (NFS), a Fidelity affiliate, which also provides money market sweep functionality and excess SIPC coverage up to $1 billion aggregate.

The company's core offering is a discount brokerage platform that combines self-directed online trading via the third-party Wealthscape Investor interface with broker-assisted execution for individuals and institutional buy-side desks. Products include equities, listed options, mutual funds (access to over 6,000 funds), fixed income (corporate, municipal, Treasury), and retirement accounts (Traditional, Roth, SEP IRAs). Supporting services include free dividend reinvestment, free ACH transfers, free money market sweeps into Fidelity funds, check writing, account householding, e-statements, and a portfolio tracker. Institutional clients are served through a dedicated desk led personally by founder Ted Weisberg, emphasizing anonymous equity execution across all sources of liquidity.

Seaport Securities generates revenue primarily through transaction-based commissions: $14.95 base for online stock trades (with tiered per-share pricing above 1,000 shares at 1.5 cents per share as of 2025), $14.95 plus $1.25 per contract for options, $35 per no-load mutual fund, and $3 per bond. Secondary revenue streams include margin interest (broker call rate plus tiered spread, 7.25% broker call rate as of September 2024), administrative fees (ACATS, wires, DRS, IRA), and revenue-sharing arrangements with Fidelity money market funds through NFS. The firm distributes through direct-to-consumer online channels, a toll-free phone desk, a referral program, and direct institutional outreach, with no public APIs or developer-facing integrations.

Name

Seaport Securities

Legal name

Seaport Securities Corporation

Website

https://seaportsecurities.com

Company type

Private

Founded year

1979

Operating status

Operating

Headcount range

1–10 employees

Short description

Seaport Securities is an independent, privately-held NYSE-member discount broker-dealer founded in 1979, offering self-directed and broker-assisted trading in equities, options, mutual funds, and bonds to U.S. retail and institutional buy-side clients, with all accounts cleared through NFS.

Ownership category

akta.pro rank

Product category

Discount Brokerage

NAICS

Securities and Commodity Contracts Intermediation and Brokerage (5231), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523)

SIC

Security Brokers, Dealers & Flotation Companies (6211), Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

Equities Trade Execution Platforms (ATS/MTF/ECN) (FSAFANAA)

Keywords

• Discount brokerage services
• Equities options trading
• Institutional trade execution
• Retirement ira accounts
• Mutual fund brokerage

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Operations, Personnel, Technology or R&D, Infrastructure, Marketing or Sales, Others

Revenue model

1. Stock Trading Commissions: Commission-based revenue from online stock trades: $14.95 per transaction up to 1000 shares, plus $0.015 per share thereafter. Broker-assisted trades have minimum commissions of $34 with tiered pricing based on share volume.
2. Options Trading Commissions: Options trading generates $14.95 base fee plus $1.25 per contract. Broker-assisted options trades are $6.25 per contract up to 10 contracts, negotiable beyond that.
3. Mutual Fund Transactions: No-load mutual funds charged $35 transaction fee. Load funds have no transaction fees.
4. Margin Interest: Interest charged on margin account debit balances, calculated as broker call rate plus tiered spread (ranging from +3% for smallest balances to +1.50% for balances $800,000+). As of September 2024, broker call rate is 7.25%.
5. Bond Trading: Fixed income trading generates $3.00 per bond commission. Treasury Bills, notes and bond orders charged $50 commission per transaction through brokers.
6. Account and Service Fees: Various service fees including ACATS transfer ($100), wire transfers ($30 domestic, $30 foreign), DRS transfers ($30-$50), IRA annual fee ($35), IRA termination ($125), and other administrative charges.
7. Revenue Sharing from Money Market Funds: Revenue sharing arrangements with Fidelity money market fund affiliates through NFS, including Rule 12b-1 fees from mutual fund holdings in customer accounts.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

Seaport Securities is an independent broker-dealer that provides discount brokerage trading and execution services to individual investors and institutional clients. Core offerings include self-directed online trading of stocks, options, mutual funds, and bonds via the WealthscapeSM Investor platform, plus broker-assisted phone trading and an institutional trading desk serving buy-side desks. Supporting services include IRA accounts, free dividend reinvestment, free ACH transfers, free money market sweeps, check writing, and SIPC-protected custody through clearing agent NFS.

Product overview

Seaport Securities is a discount brokerage firm offering a unified trading platform combining self-directed online trading (WealthscapeSM) with broker-assisted services. The core offering centers on equities, options, and mutual fund trading with tiered commission structures. Supporting services include retirement accounts (IRA, Roth IRA, SEP IRA), money market sweeps, dividend reinvestment, check writing with optional debit card (Brokerage Access), ACH transfers, and account protection through SIPC. The company serves both retail investors and institutional clients (buy-side desks) with a focus on low commissions and quality execution. All accounts are cleared and custodied through NFS/National Financial Services LLC.

Differentiator

Problem solved

Functional benefit

Products and services

• Online Trading Platform (WealthscapeSM Investor) Self-directed online trading platform enabling customers to execute stock, option, and mutual fund trades; access real-time quotes (100 free per trade); and manage portfolios through the WealthscapeSM interface. Supported browsers include Microsoft Edge 145, Google Chrome 145, Mozilla Firefox 147, and Apple Safari 26 on macOS 15 Sequoia / Windows 11.
• Institutional Trading Services Equity trading services for institutional clients (buy-side desks) emphasizing anonymity, seamless execution, and access to all sources of liquidity with no footprint unless requested.
• Broker-Assisted Trading Full-service trading through client resource representatives for stocks, options, bonds, and mutual funds with negotiated commission rates for larger share quantities (minimum $34 commission; tiered per-share rates from $0.10/share down to $0.03/share at higher volumes).
• Equities Trading Stock trading across major exchanges including NYSE and NASDAQ with competitive commission rates starting at $14.95 for online trades up to 1000 shares and 1.5 cents per share thereafter.
• Options Trading Options contract trading with $14.95 base fee plus $1.25 per contract online, and $6.25 per contract when trading with a broker (up to 10 contracts).
• Fixed Income (Bonds) Corporate bonds, municipal bonds, and U.S. Treasuries trading with $3.00 per bond commission for online trades and broker-assisted transactions ($50 per transaction for Treasury Bills, notes, and bond orders through brokers).
• Mutual Funds Access to over 6,000 mutual funds including no-load funds with a $35.00 transaction fee; load funds carry no transaction fees.
• IRA Accounts (Traditional, Roth, SEP) Individual retirement accounts with a $35 annual custodial fee, including Traditional IRA, Roth IRA, and SEP IRA options with tax-deferred growth potential. IRA termination fee is $125.
• Free Money Market Sweeps Automatic daily sweep of uninvested cash into NFS/National Financial Services eligible money market funds (Fidelity) enabling idle balance income generation. Revenue sharing arrangements exist with Fidelity money market fund affiliates through NFS.
• Free ACH Money Transfers Electronic fund transfer service enabling expedited money movement to and from accounts, eliminating paper checks and avoiding wire fees.
• Check Writing (Brokerage Access) Free checkwriting on most brokerage accounts with no minimum opening or balance requirements; optional Visa Classic debit card available through Brokerage Access.

Quantifiable outcome

• 25% savings on stock trades over 1000 shares (now 1.5 cents/share)
• +2 more outcomes

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

Feature1 record

Partnerships

One partnership is on record.

• NFS / National Financial Services LLCcoreOthersPrimary clearing agent and custodian for all Seaport Securities accounts. NFS provides account carrying services, money market sweep functionality, wire transfer processing, and DRS transfer services. NFS also provides business continuity support with geographically separate backup records and 4-hour disaster recovery objective. Revenue sharing arrangements exist with Fidelity money market fund affiliates through NFS.

Scale indicators3 records

Recent moves4 records

Expansion highlights3 records

Direct peers

• Interactive Brokers: Large discount broker serving both retail and institutional clients with low-commission trading, options, and global market access. Highly comparable in serving active traders and institutions seeking execution quality at low cost.
• TradeStation: Online brokerage targeting active traders with low commissions, advanced trading platforms, and institutional-style execution. Directly comparable in serving active retail and prosumer trader segments.
• Ally Invest: Self-directed online broker offering stocks, options, ETFs, and mutual funds with competitive commissions. Comparable discount brokerage model with emphasis on low-cost retail trading.
• Firstrade: Independent online broker-dealer offering low-cost stock, options, and mutual fund trading to self-directed investors. Closely comparable in being a smaller independent broker competing on price and service.

Broad incumbents

• Charles Schwab: One of the largest retail broker-dealers offering commission-free stock/ETF trading, IRAs, and institutional services. Comparable product breadth (stocks, options, mutual funds, IRAs) but vastly larger scale and broader offerings.
• E*TRADE (Morgan Stanley): Established retail broker offering self-directed trading, options, and retirement accounts at competitive commissions. Comparable online discount brokerage model serving self-directed investors and active traders.
• Fidelity Investments: Major full-service broker-dealer with extensive retail, institutional, and IRA offerings. Comparable in providing money market sweep products (used by Seaport) and comprehensive brokerage services, though at much larger scale.

Emerging players

• Robinhood Markets: Commission-free mobile-first brokerage that has reshaped retail trading economics. Comparable in targeting self-directed retail investors but with vastly different technology and scale advantages.
• Webull: Mobile-first online broker offering zero-commission trading with advanced tools for active traders. Comparable retail discount brokerage offering but with technology-first differentiation.

Others

• Tradier Brokerage: API-first brokerage and execution platform serving fintech developers and active traders. Provides clearing and execution infrastructure comparable to what NFS provides for Seaport, illustrating the technology layer that modern brokers compete on.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Customer concentration

• LinkedInlinkedin.com/company/seaport-securities-corp

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Seaport Securities