$23.10 per transaction of stock in the US?

[1a2b3cppp]

Super misleading.

I think Scottrade is still $7 per $1,000,000. So if not, that means they would be $.23 per $10,000?

 

[d08]

When I read that it said it was $23.10 to sell up to $1,000,000 dollars.

In this case, how can someone charge $7?

They might lose money on some trades and make it back on others.

 

[Robert Morse]

Scottrade clients are all moving to TD before end of month. https://www.tdameritrade.com/pricing/brokerage-fees.page

This is a pass through of regulatory fees and not something you can avoid, so I don't see why this is an issue. It funds the SEC. You have to pay TAF too.

 

[ajacobson]

Here is their regulatory fee page, but as Robert said they integrate on Monday so it's all kind of irrelevant.

If you want to get really pissed look at the option ORF fees.

"Section 31" Fee:
$0.0000231 per $1.00 of transaction proceeds
Options Regulatory Fee
$0.0166 per options contract

TD imposes a few additional regulatory fees.

 

[Robert Morse]

The ORF fee has always made me angry. An exchange gets paid every time a trade is done even if not on their exchange.

 

[ajacobson]

That why we'll have 20 option exchanges soon with most doing less than 2%.

 

[solonz]

Sounds very similar to the "interchange" fee charged by the banking networks with ATM Machines and merchant/credit card processing.