|
Are you overpaying your stock brokerage firm?
|
I remember in the late 90s, when stock market was hitting new highs and people
were making fortunes on internet stocks, everyone was excited about
Etrade. With Etrade you could pay a measly $20
to buy stocks! What a deal! Conventional brokers charged $80 in stock
commissions. Then Ameritrade showed up and it charged only $15 to buy or sell
stocks. A bit later Scottrade appeared on the radar with their unheard of $7 per
trade and Sharebuilder charged only $4 for their unique kind of trades which
everyone hated. There were other companies too but many of them were bought up
and few remember their names. We happily dumped now expensive Etrade and went
with one of the cheaper options.
Over the next few years most of us settled with our $7 or $10 per trade stock
brokers. We went through thestock market surge that
brought Dow to new highs. Now we are healing the wounds of the biggest
recession in the last 80 years. We are wary of the stock market and still
worried about economy. And many of us do not know that prices on stock trades
kept falling down all these years. What we thought was cheap is now considered
expensive.
There are new, ambitious players in the stock broker
world. These companies are young and nimble, and they charge much less
then the veteran discount online brokerage houses.
How about $5 per trade? Good? Ok, what would you say to $2.95 per trade?
Unbelievable? Wait! There is a very reliable brokerage company that lets you
trade stocks for FREE. Yes, 10 free trades every
month if your account balance is at least $25,000 or you make 10 or more trades
a month. It can be that cheap to buy stocks and most people do not realize it!
I see no reason to pay $15, $10 or even $7 to buy or sell stocks. They are the
same stocks after all! There are very highly rated by all investing magazines
and investor surveys stock broker firms that will charge you only $3-$5 per
trade. I have been with TD Ameritrade since year 2000, paid diligently $10 per
trade and when I discovered how much less the other companies charged, I was in
shock! I cannot believe I was overpaying my stock broker so much and for so
long! I just transferred my IRA account to one of the new firms and the
experience has been great so far! If you would like to
compare stock broker firms, click here.
|
|
|
|
|
|
|