Hi!, Im new here and I would like to be adviced.
I`m about to open my first account with a broker called: Alliance, but they offer me different commision plans wich are the followings.
Plan A
$4.95 per trade ** $4.95 up to 400, over 400 at an additional $0.015 per unit ¹˒ ²
Plan B
$8.95 per trade ** $8.95 up to 2000, over 2,000 units at an additional $0.01 per unit ¹˒ ²
Wich should I take?
I`m using this broker because I`m from Mexico and I get this recommendation but If you know another that can be useful I`ll be grateful of being recommendated.
They`re also noticing me about this
Thank you so much!
(and sorry if this is not the correct way on asking an advice but I`m super neewbie at this)
Posted Mar 02, 16 7:24 PMbydiegarciar
Categories
Basics
Received 1 Karma
You may want to consider the price range of the stocks that you will be trading. Higher priced shares might mean lower numbers of shares that you will enter with. Lower priced stocks might mean a larger number of shares to enter with. This all depends on your initial deposit amount also. If you open an account with $1000 then you might not be trading high share amounts of 7,8 9, or 10 dollar stocks but you would be with 1,2 o 3 dollar stocks.
We cannot offer you financial advice. This is an educational website. Before you commit capital to trading always talk to a licensed professional. As for which option to choose, it depends on how much capital you have and how much you can spend on fees. First option is for small traders and the second option is for a bigger size trader. Be careful with the fees if you have limited income and funding.
Also these platforms like DAS Trader Pro, Lightspeed or other direct access platforms are designed for pattern day traders with $30k or more in capital. Most of these traders are in the Investors Underground. If you have a small account, you need to use something simpler. These platforms are for designed for hardcore traders with money. They are great to use but they have fees.
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