Investing Manager
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I have never paid a maintenance fee. What broker and what is their normal trade fee?
Since everyone has to make money somehow, low trade fees are often offset by other fees and/or less interest paid for cash (like 0-1.5% instead of ~5%). For example I know of one with very low trade fees, but that is deducted from a $10/month minimum, and they pay no interest for 1st $10,000 of cash. Depending upon trading frequency and reserve cash awaiting investment, higher interest earned could more than offset a somewhat higher infrequent trade fee. So you have to take everything into consideration when picking a broker, or use one for longer term investments, and another for frequent trades. |
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