Can someone help me understand broker fee structure

Quote from milemke08:


buy 1000 shares at $9.45 = $9,450.00
$3.5 for brokerage fee

buy 1000 shares at $9.46 = $9,460.00
$3.5 for brokerage fee

So I walk out of this deal with $3 since my profit was $10 and I have to pay the $7 for fees, right?
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This is not quite right. For trading stocks, you need to factor in the SEC fee above what you pay for commissions. It is a percentage of the total dollar transaction regardless of number of shares. These days the SEC fee is so high that you really can't make money scalping for a 1 cent in/out.
 
Don,

Do your traders use "Fill or Kill" type of orders?

Es


Quote from Don Bright:

Be careful if you don't get all your shares in one trade, because the $7.00 will apply to each "ticket."


Don
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Quote from Bolimomo:

This is not quite right. For trading stocks, you need to factor in the SEC fee above what you pay for commissions. It is a percentage of the total dollar transaction regardless of number of shares. These days the SEC fee is so high that you really can't make money scalping for a 1 cent in/out.
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Can be expensive if you trade high priced stocks like AAPl and GOOG. Sec Section 31 transaction fee rate is $22.40 per million dollars sold.

so, 100 AAPL at 580= $58,000.

58000 *.0000224= $1.2992 for 100 shares of AAPL.
 
There is a way to bypass the $1 minimum in IB for trading 100 shares and just pay 0.5. I am not going to tell you how but if you have used IB a lot, you will find it out.
A hint: Putting order will not be that straight forward. You have to use one of the trading features that IB offers.
 
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