Please Help!?!? Online Stock Trading!!!?
I was looking into purchasing some stock online though scottrade which is an online brokerage company. On the main page it says $7.00 online trades. I don't know whether their charging $7 dollars for every trade you make. Or 7$ for every company you invest into. Please Help.
- A nobodyLv 78 years agoFavorite Answer
$7 for each and every buy and $7 for each and every sell
Scottrade is a registered broker/dealer who like most major broker/dealers offer their clients an online order entry system, along with on-line account access and research.
There is no such broker/dealer registration as an "On-line" B/D.Source(s): from the street
- Anonymous8 years ago
You will be charged per trade but you have to buy and sell each company separately. For example if you want to buy 100 shares of Disney, you will pay the transaction fee. If you want to buy 50 shares of Microsoft, you will pay another transaction fee. If you want to sell 20 shares of your Disney stock, you will pay another transaction fee, and so on. Every transaction will be subject to the trading fee, but it's much cheaper than working with a full-service broker. If you buy shares from 10 different companies, you will pay 10 fees.
Discount brokers like Scottrade or Etrade allow people to buy and sell online. Unlike a full service broker, they cannot advise you on your investments.
~KimSource(s): personal knowledge scottrade.com etrade.com
- 8 years ago
If you buy for example 100 shares of Google as an example you should pay a commision of $7. The when you sell the 100 shares of Google you should pay another commossion of $7.
Suppose you want to sell only 50 shares. so you should a commission of $7. It means whenever you do buy or sell any shares you should pay the commission fee.
I give you an advice. There are some other brokerage firms that charge 0.45 (cents) for 100 shares or they can charge you a flat rate of $4.50 per trade.
I guess you are a beginner. These commission fees will eat up your profits. So it is better to save money on those commissions.
Hope that helpsSource(s): http://www.istockmoney.com/brokerage.shtml
- 8 years ago
$7 for every time you buy and another $7 for every time you sell.