Forum Archive Index - November 2001

["nick" <helmett@xtra.co.nz>]

      If you are paying a minimum of 35 dollars them
you should be investing at least 2300 otherwise you are
paying more than 1.5% which if  you are trading will kill you
off.
  Access are good and they have a minimum of 23 dollars.

 Nick



> Hey chatters
>  I enjoy trading but I'm paying a minimum of $35 per
> transaction or 1.5% (whichever is larger) in brokerage
> fees. As I'm a poor student I only want to trade in
> small amounts of say $500 but this means I have to
> recover $570 before I've started. This makes it hard
> to trade IMHO.
>  Is this a reasonable rate to pay? Is this in line
> with what you would expect one to pay for discount
> brokerage? Is there somewhere that I could get
> brokerage a lot cheaper? (CHCHish region)
>
>  My other question is if a broker charges say $50 to
> buy shares for you, does HE/SHE have to pay a fee to
> the exchange or somewhere else, or is this $50 100%
> profit (of course minus normal business expenses)?
>  If there is no fees, whats to stop me making my own
> transactions if I became registered so I pay no
> brokerage. This way I could buy shares at say $1.00 in
> the morning, they raise to $1.02 (very possible) by
> the afternoon and I fork them off making 2% pure
> porfit no worries in one day?
>
>  Am I missing out???
>
>   TIA as always,
>      the cullenator 150   :)
>
>
>
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