Paying A Scottrade Commission
Q: Does that $5 trigger the deduction of $7 more to sell it?
A:
Every trade carries a commission fee,
be it $5 for an internet executed trade at market price at scottrade
or a $12 internet executed stop, limit, buy to cover trade at scottrade
telephone trades executed by the broker carries a $5 premium.
If you want to trade penny stocks at scottrade, the fee structure
(discourages it), all penny sto
then a pecentage of the total tade value is then tagged on it as well.
So it's commission to buy and commission to sell
regardless of what and how your trades were executed.
They just want to make their margin on your trades.
We've come along way from the $50 commission fees of yesteryear.
I have been prevented no less than half dozen times from buying/selling
shares of below $1 stocks online at scottrade.
Perhaps online execution has recently been permitted
I've had my account for a few years and just am not up to speed on
recent developments.
I've been watching this thread..
Why don't you guys just trade currency instead of penny stocks?
You can trade 100,000 shares of Euro Dollars at 400 to 1 leverage.
That's $250 margin on 100K. It moves one tick, you earn or lose $10.
If that's too expensive for you then trade 1/10th of a unit (10,000) for a
measley $25 bucks margin. A tick is then worth $1.00. The commish is the spread, which is
about 4 ticks.
Who said anything about trading penny stocks? I'm trading stocks with
dollar signs in the quote. It just seems that $19 per trade is
expensive for a "deep discount" broker. Cava I checked out
Interactive Brokers and will have to look into them further.