Discount broker fees

[speedlever]

Originally Posted by simonyadig

Not familiar with DRIP. As far as the other fees, there are none with CT, even if you buy and hold for 10 years. Zecco doesn't have any either from the feedback I've heard.

Dividend Reinvestment. Saves the price of a trade on a stock that pays dividends by reinvesting the dividend back into the stock. Or that's how I envision it to work. FT has this. I dunno about the others mentioned here.

[speedlever]

Looking at the CT fees, there are several things I find confusing. See the attached images.

Service fees:


Data, exchange and subscription fees:


So are there monthly subscription fees in order to use CT? I'm not familiar enough with the process to know what fees apply.

[Bishop]

Originally Posted by speedlever

Looking at the CT fees, there are several things I find confusing. See the attached images.

Service fees:


Data, exchange and subscription fees:


So are there monthly subscription fees in order to use CT? I'm not familiar enough with the process to know what fees apply.

Unless you want level II access, there aren't any monthly subscription fees. One of the first things I would do however is switch to electronic statements instead of paper though.

[simonyadig]

Originally Posted by speedlever

Looking at the CT fees, there are several things I find confusing. See the attached images.

Service fees:


Data, exchange and subscription fees:


So are there monthly subscription fees in order to use CT? I'm not familiar enough with the process to know what fees apply.

There is no monthly subscription fee for a normal CT account, but there is a direct access platform that costs $30 a month. That won't apply to you. The exchange fees are standard for most brokers as the exchange charges you, not . It ends up being being a very small amount per trade, not even noticeable. Data fees are for L2 quotes and other stuff if you choose to use them.

For standard trades with CT, it will always cost you $5 and some change if you receive an exchange fee.

[speedlever]

Thanks for clarifying that issue.

[MovieMike]

Zecco doesn't charge anything extra for penny stocks. I know TradeKing was a penny per share for stocks under 2, which can add up quick.

For what I've been doing zecco is 4.5 a trade plus .65 a contract if you're buying or selling options. Haven't had any problems with them.

[speedlever]

Thanks. I just wanted to make sure there weren't hidden fees that would bleed me dry should I only have an occasional trade or two.

Looks like Zecco and ChoiceTrade are pretty much the same in this regard and I can be as active or inactive as I desire without getting unwelcome surprises from an account perspective.