So the SEC fee basically tripled today?

LOL Sec is keeping up with inflation

 

0.0000333 is the rate in effect prior to December 28, 2001
0.0000150 is the rate effective December 28, 2001
0.0000301 is the rate effective April 1, 2002
0.0000252 is the rate effective March 22, 2003
0.0000468 is the rate effective April 1, 2003
0.0000390 is the rate effective February 22, 2004
0.0000234 is the rate effective April 1, 2004
0.0000329 is the rate effective January 7, 2005
0.0000418 is the rate effective April 1, 2005
0.0000307 is the rate effective December 22, 2005
0.0000153 is the rate effective March 17, 2007
0.0000110 is the rate effective January 25, 2008
0.0000056 is the rate effective April 1, 2008
0.0000257 is the rate effective April 1, 2009

 

Seems about average then. Why the inconsistency though?

 

Damn! Some of these guys trade way too much. If you're trading a million plus shares a day, you should work for a market maker. It's worthless to risk your own capital, and pay commissions on that kind of volume.

What the hell kind of trading is that anyway? It reminds me of the trading Charles Vaccaro at HLV Trading was touting a few years back. Churn and burn, trading penny stocks back and forth on the bid and offer. It's a good way for prop firms to keep the risk low, and get high commissions since you have to trade huge share volumes to make money scalping a penny or two a share.

My advice is to learn how to trade for longer time frames. You spend way less on commission and make huge moves.

 

Just look at the number of "shares" does not tell you anything. Some stocks/ETFs are low price. You can trade a lot of them. In fact you need to trade a lot of them to make money. e.g. C or AIG or UYG. You can easily trade 50000 or 100000 or them intraday.

Some brokerage firms charge commission on a "per share" basis. You need to watch out. Can't use those commission schedule to trade low price stocks.

 

Hi,

I was just wondering if the fee still only applies to the amount sold and not bought?

So it would be $25.70 per million dollars sold. Correct?

Meaning if I buy 10Kshs of a $100 stock and sell it the same day it should be $25.70 and not $51.40. I hope thats still the same.

 

Yes, the SEC fee is only charged when you sell the stock.