What does it cost so much to buy and sell stocks? - GoFuckYourself.com

Socks · 05-15-2008, 05:51 PM

Looking at the Etrade fee system, and it's nuts! You have to pay them to do anything, including a $40 quarterly "account fee" unless you had activity on your account, or had more than $20,000 in their bank account, etc etc.

Also the fees for a normal joe are $12.99 per trade. So I'm assuming that's $25 to buy and sell a stock.

Many other places have a $25-30 "minimum fee" too for each transaction.

I understand it's not that much for any serious investor, but wouldn't a whole lot more people be putting money into stocks if they could buy a few hundred bucks here and there on a bunch of different companies?

As it is, you'd really need to be buying at least $2-5k into each stock to really have it make sense.

Why such a high barrier?

drocd · 05-15-2008, 05:55 PM

Have a look at Zecco.

WiredGuy · 05-15-2008, 05:58 PM

Those are Canadian fees, in the US, it's about 1/2 that with trades being about $6-8.
And you answered your own question, the reason is to prevent tiny trades and make sure people do some volume worth the time/effort.
WG

cybermike · 05-15-2008, 06:10 PM

scottrade is 7.99 a trade

05-15-2008, 05:51 PM	#1
Socks Confirmed User Industry Role: Join Date: May 2002 Location: Toronto Posts: 8,475	What does it cost so much to buy and sell stocks? Looking at the Etrade fee system, and it's nuts! You have to pay them to do anything, including a $40 quarterly "account fee" unless you had activity on your account, or had more than $20,000 in their bank account, etc etc. Also the fees for a normal joe are $12.99 per trade. So I'm assuming that's $25 to buy and sell a stock. Many other places have a $25-30 "minimum fee" too for each transaction. I understand it's not that much for any serious investor, but wouldn't a whole lot more people be putting money into stocks if they could buy a few hundred bucks here and there on a bunch of different companies? As it is, you'd really need to be buying at least $2-5k into each stock to really have it make sense. Why such a high barrier?

05-15-2008, 05:55 PM	#2
drocd Confirmed User Join Date: Aug 2007 Posts: 128	Have a look at Zecco. __________________ 230-699

05-15-2008, 05:58 PM	#3
WiredGuy Pounding Googlebot Industry Role: Join Date: Aug 2002 Location: Canada Posts: 34,465	Those are Canadian fees, in the US, it's about 1/2 that with trades being about $6-8. And you answered your own question, the reason is to prevent tiny trades and make sure people do some volume worth the time/effort. WG __________________ I play with Google.

05-15-2008, 06:10 PM	#4
cybermike Confirmed User Join Date: Jan 2002 Location: Ny Posts: 4,110	scottrade is 7.99 a trade __________________ Hey surfers how about some The Best Porn Sites