I happened to check my suretrader transaction report and was in for a surprise!!! Of the 7k loss I had so far, 4k was the suretrader commissions and 3k was the actual trade loss. Note that its not just $4.95 per trade they advertise but they also add ECN charges based on number of shares traded and also routing charges. Be careful out there before getting burnt by such overcharges!
Haha right? i got burned bad like that, all my trades from suretrader say my winn/loss b.c. (before commissions) and i think it was mostly my fault too for overtrading. Im saving up fro interactive brokers. I also use Robinhood which is commisson free. I havent had any problems with anything really, the set up is fast, within minutes youll be setup and be trading today. i use it for my small account because as Tim mentions, out since there is no commissions, i think more people than not will use
it as an excuse to trade when they shouldnt, like i did at first lol
Thanks Tim for the link...I will move to IB & ETrade too
Yes @MadMan79, agreed better to follow PDT with 2 brokers to allow max of 6 trades per week than overtrade and pay those useless commissions with PDT free brokers!! Lesson learnt the hard way!
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