Hello!
So I am new to stocks (been trading for 30 days) - I was looking at my spreadsheet notes and did a quick comparison on broker fees, so this is what I found:
In the past 30 days I have done 29 complete trades (buy and sell) that equal to 30,890 shares. Based on the number of trades and or shares, here are the fees the following brokers would have charged me:
| Interactive Brkrs. | $ 154.45 |
| TDAmeritrade | $ 579.42 |
| TradeKing | $ 287.10 |
| Suretrader | $ 337.84 |
| Lightspeed | $ 139.01 |
| Scottrade | $ 406.00 |
| Fidelity | $ 461.10 |
| Etrade | $ 579.42 |
| MerrilEdge | $ 403.10 |
Please note that these do not reflect any fees for min. balances and or platform fees - So based on this, Lightspeed and IB seem like the best options!
Thoughts?
Rage
Posted May 24, 16 12:47 AMbyragetoca
Received 1 Karma
im not sure but i think IB and Light speed charge you per share when you buy and again when you sell,..So for light speed and IB you have to multiply 30,890 buy their cost per share that is .005 for IB .0065 for Light speed Example 29 Trades total(Buy and Sell) TOS 29*9.99 287.1 Etrade 29*9.99 287.1 IB 30890 Buy 154.45, sell 154.45 Light speed 200.785, sell 200.785 Once again im not sure, new trader also
if i buy 5000 shares, IB will charge me 25 to buy, and again 25 to sell..but it will only cost me 20 with etrade and TOS
@hjtrader Yes, but what if you make 30 trades on a month? 30 x 20 = $600
its all relative, if im buying more stocks and selling the stocks same day, other brokers are better...example 5000 shares buy (25) and sell 5000 (25), thats total 50+ with IB and Light speed,, if i do this trade with TOS or ETRADE thats only 20...so its all realtive...more trades ot more shares
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